It’s one of those things that seems like it should be common knowledge, but almost nobody knows what it is until they need it. One of the most popular tools you can use to simplify this process is the BCG Matrix. That is why there are so many tools out there to help you streamline the creation and implementation of your company’s strategic plan. The problem is that coming up with a strategy or performing an analysis of the market can take an obscene amount of time in a company, and that’s not something every organization has. What is the importance of a BCG matrix?Įveryone knows how important it is for companies to have a clear strategy and keep analyzing the market in order to be successful. It helps the company to analyze where to allocate its resources and is used as an analytical tool in different practice areas as strategy, product management, marketing, or portfolio analysis. Henderson for the Boston Consulting Group (BCG) in 1970. It helps you identify your product or business portfolio's biggest winners and losers and see how they perform against each other in terms of their growth and market share. The BCG matrix is a strategic planning tool that can help you evaluate your product or business portfolio.
