From the course: Strategic Planning Foundations
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Creating multiple diversification views
From the course: Strategic Planning Foundations
Creating multiple diversification views
- Strategic plans can be complicated because you're trying to drive multiple objective functions. So it's important once you've built your priority list, to make sure that you have balance across all the objectives you're trying to achieve. The way I like to do that is to create multiple looks through a two by two matrix and see where my highest priority initiatives are showing up on that matrix. So for example, let's say I've got 30 initiatives on my entire list and five of them are my top priority initiatives. So first, I evaluate them based upon growth rate, how fast will they help my company grow, and profitability, how profitable is this initiative, this particular product. And when I plot all 30 initiatives, those five top initiatives help us grow very rapidly and they are very high on that axis. And they're very profitable, so they're very high on that axis. And looking at the portfolio through that lens of…
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