From the course: Strategic Planning Foundations
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Applying the 2x2 matrix
- Another tool you can use to prioritize your initiatives is called the two by two matrix. The way a two by two matrix works is you look at two objective functions of your organization, and plot them against one another, and then place your initiatives on that grid. So the example I've got here, first, I look at profit. And that's the most important objective of my organization, and I'm going to assess my initiatives from low profit to high profit. Then I look at growth rate of the organization, how much will this initiative help my top line grow for the company. And again, I look from low to high. And what happens is, the two by two matrix will help me prioritize. And initiatives that are high profit and high growth are my priority one initiatives. Next, since profit is most important to me, anything that's high profit, even if it doesn't get me a lot of growth, is going to be priority two. Initiatives that…
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