{"id":814,"date":"2022-06-25T04:05:36","date_gmt":"2022-06-25T00:05:36","guid":{"rendered":"https:\/\/gradmode.com\/?p=814"},"modified":"2022-07-28T14:39:12","modified_gmt":"2022-07-28T10:39:12","slug":"using-a-strategy-toolkit-for-better-strategy-visualization","status":"publish","type":"post","link":"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/","title":{"rendered":"Using a Strategy Toolkit for Better Strategy Visualization"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_62 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-65ddc4273ad0a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #11376d;color:#11376d\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #11376d;color:#11376d\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-65ddc4273ad0a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#What_is_a_Strategy_Toolkit\" title=\"What is a Strategy Toolkit?\">What is a Strategy Toolkit?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#What_is_Strategy_Visualization\" title=\"What is Strategy Visualization?\">What is Strategy Visualization?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#What_Tools_are_used_in_Developing_Strategy\" title=\"What Tools are used in Developing Strategy?\">What Tools are used in Developing Strategy?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#1_Ansoffs_Matrix\" title=\"1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ansoff\u2019s Matrix\">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ansoff\u2019s Matrix<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#2_Porters_Generic_Strategies\" title=\"2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Porter\u2019s Generic Strategies\">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Porter\u2019s Generic Strategies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#3_BCG_Growth_Share_Matrix\" title=\"3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BCG Growth Share Matrix\">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BCG Growth Share Matrix<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#4_GE-McKinsey_Matrix_aka_Directional_Policy\" title=\"4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GE-McKinsey Matrix (aka Directional Policy)\">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GE-McKinsey Matrix (aka Directional Policy)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#5_Shell_Directional_Matrix\" title=\"5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shell Directional Matrix\">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shell Directional Matrix<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#6_Strategy_Clock\" title=\"6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Strategy Clock\">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Strategy Clock<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#7_Gap_Analysis\" title=\"7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gap Analysis\">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gap Analysis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#8_Strategy_Canvas\" title=\"8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Strategy Canvas\">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Strategy Canvas<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#9_Scenario_Planning_and_Analysis\" title=\"9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Scenario Planning and Analysis\">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Scenario Planning and Analysis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#10_Strategic_Alignment_Matrix_aka_Action_Priority_Matrix\" title=\"10.&nbsp;&nbsp; Strategic Alignment Matrix (aka Action Priority Matrix)\">10.&nbsp;&nbsp; Strategic Alignment Matrix (aka Action Priority Matrix)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#11_Change-Impact_Model\" title=\"11.&nbsp;&nbsp; Change-Impact Model\">11.&nbsp;&nbsp; Change-Impact Model<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#12_Strategic_Fit_and_Progress\" title=\"12.&nbsp;&nbsp; Strategic Fit and Progress\">12.&nbsp;&nbsp; Strategic Fit and Progress<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#13_Game_Theory\" title=\"13.&nbsp;&nbsp; Game Theory\">13.&nbsp;&nbsp; Game Theory<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#14_Balanced_Scorecard\" title=\"14.&nbsp;&nbsp; Balanced Scorecard\">14.&nbsp;&nbsp; Balanced Scorecard<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#15_Strategic_Sweet_Spot\" title=\"15.&nbsp;&nbsp; Strategic Sweet Spot\">15.&nbsp;&nbsp; Strategic Sweet Spot<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#16_Buyer_Utility_Map\" title=\"16.&nbsp;&nbsp; Buyer Utility Map\">16.&nbsp;&nbsp; Buyer Utility Map<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#17_Business_Model_Canvas\" title=\"17.&nbsp;&nbsp; Business Model Canvas\">17.&nbsp;&nbsp; Business Model Canvas<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#18_Jobs_to_be_Done_Model\" title=\"18.&nbsp;&nbsp; Jobs to be Done Model\">18.&nbsp;&nbsp; Jobs to be Done Model<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#19_Six_Paths_Framework_Blue_Ocean_strategy\" title=\"19.&nbsp;&nbsp; Six Paths Framework (Blue Ocean strategy)\">19.&nbsp;&nbsp; Six Paths Framework (Blue Ocean strategy)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#20_Three_Tiers_of_Non-Customers\" title=\"20.&nbsp;&nbsp; Three Tiers of Non-Customers\">20.&nbsp;&nbsp; Three Tiers of Non-Customers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#21_Competitive_Position_Tactics\" title=\"21.&nbsp;&nbsp; Competitive Position Tactics\">21.&nbsp;&nbsp; Competitive Position Tactics<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#22_Importance_Satisfaction_Model\" title=\"22.&nbsp;&nbsp; Importance Satisfaction Model\">22.&nbsp;&nbsp; Importance Satisfaction Model<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#What_Makes_a_Good_Toolkit\" title=\"What Makes a Good Toolkit\">What Makes a Good Toolkit<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#Strategy_Toolkit_for_Improving_Value_Proposition\" title=\"Strategy Toolkit for Improving Value Proposition\">Strategy Toolkit for Improving Value Proposition<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#Strategy_Toolkit_for_Growth_in_Scale_or_Scope\" title=\"Strategy Toolkit for Growth in Scale or Scope\">Strategy Toolkit for Growth in Scale or Scope<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#Strategic_Toolkit_for_Competitive_Positioning\" title=\"Strategic Toolkit for Competitive Positioning\">Strategic Toolkit for Competitive Positioning<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#Strategy_Toolkit_for_Evaluating_and_Choosing_Strategic_Direction\" title=\"Strategy Toolkit for Evaluating and Choosing Strategic Direction\">Strategy Toolkit for Evaluating and Choosing Strategic Direction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#Strategy_Toolkit_for_Performance_Optimization\" title=\"Strategy Toolkit for Performance Optimization\">Strategy Toolkit for Performance Optimization<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-32\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/#Strategy_Tools_for_Small_Businesses\" title=\"Strategy Tools for Small Businesses\">Strategy Tools for Small Businesses<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_a_Strategy_Toolkit\"><\/span>What is a Strategy Toolkit?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A strategy toolkit is a collection of different strategy frameworks and tools which are used for developing strategy options and evaluating alternative strategy directions. While <a href=\"https:\/\/gradmode.com\/internal-analysis-in-strategic-management\/\">tools of internal and external analysis<\/a> are sometimes seen as strategy frameworks, we need to make an important distinction. Most of these tools only help gather and categorize information which will help strategy formulation \u2013 they do not explore strategy options or help evaluate different strategic directions.<\/p>\n\n\n\n<p>Instead, strategy tools and techniques are specifically those which help you come up with strategy choices or help evaluate them. They prescribe different strategic directions that a company can choose to take after having reviewed the internal and external factors of significance. To put it another way, the tools of internal and external analysis are essential for gathering and organizing important information that any strategy initiative should build upon. Strategy building tools on the other hand use that information as a foundation for exploring the options available to a company and weighing them against one another. The usage of such tools is critical for effective strategy visualization.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_Strategy_Visualization\"><\/span>What is Strategy Visualization?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Strategy visualization refers to developing strategy options and the roadmap for achieving them. This is then followed by communicating this to relevant stakeholders in a way that is easily understandable by them. As the name suggests, strategy visualization is often accompanied by a visual representation of the strategies being explored and considered. However, this does not always have to mean a pictorial representation.<\/p>\n\n\n\n<p>Instead, the term is used in general to refer to clear articulation of strategies and how they may be implemented. In other words, strategy visualization is often theoretical in nature, which is then followed by the process of strategy execution or implementation. These two phases together form the overall process of strategy planning, which we have explained in detail in our <a href=\"https:\/\/gradmode.com\/how-to-develop-a-strategic-plan-using-a-strategy-checklist\/\">comprehensive strategy checklist<\/a>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/gradmode.com\/wp-content\/uploads\/2022\/06\/Strategy-Visualization-1024x576.webp\" alt=\"Strategy Visualization\" class=\"wp-image-840\" srcset=\"https:\/\/gradmode.com\/wp-content\/uploads\/2022\/06\/Strategy-Visualization-1024x576.webp 1024w, https:\/\/gradmode.com\/wp-content\/uploads\/2022\/06\/Strategy-Visualization-300x169.webp 300w, https:\/\/gradmode.com\/wp-content\/uploads\/2022\/06\/Strategy-Visualization-768x432.webp 768w, https:\/\/gradmode.com\/wp-content\/uploads\/2022\/06\/Strategy-Visualization-1536x864.webp 1536w, https:\/\/gradmode.com\/wp-content\/uploads\/2022\/06\/Strategy-Visualization.webp 1800w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Having said that, graphical illustration of the strategies being evaluated, and the variables inform can go a long way in effectively communicating a strategic vision to stakeholders. Hence, we highly recommend that you prepare visual representation representations of strategy choices when trying to convince your stakeholders about what strategy direction to take. The next section lists various strategy visualization tools, some of which are well-suited to graphical depiction, while others may not be as intuitive for this purpose.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Tools_are_used_in_Developing_Strategy\"><\/span>What Tools are used in Developing Strategy?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There are many different tools used in strategic analysis. There are no specific strategy tools and techniques which are \u2018best\u2019 for all occasions. It is also worth keeping in mind that different tools have different strengths, weaknesses and relevance based on the situation of the strategy planner and the company. Often, you will need to mix and match multiple tools from the strategy toolkit to achieve your desired outcomes. Such a combination of different tools also helps triangulate information so that more informed and well-calculated decisions can be taken.<\/p>\n\n\n\n<p>Here\u2019s a business strategy toolkit which lists the most common tools used in strategic analysis. We have separate guides for most of these strategy tools and frameworks. You can look up the relevant guides to get a more detailed understanding of any of the concepts.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_Ansoffs_Matrix\"><\/span>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ansoff\u2019s Matrix<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This tool helps identify strategy options of product-oriented versus market-oriented.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Focus Variables<\/strong><strong><\/strong><\/td><td><strong>Strategy Options<\/strong><strong><\/strong><\/td><\/tr><tr><td>\u25ba Product Options (New vs. Same) <br>\u25ba Market Options (New vs. Same)<\/td><td>\u25ba Market Development (same product, new market)<br>\u25ba Product Development (new product, same market)<br>\u25ba Diversification (new product and market)<br>\u25ba Market Penetration (same product and market)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Porters_Generic_Strategies\"><\/span>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Porter\u2019s Generic Strategies<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Porter\u2019s Generic Strategies model is useful for generating strategy options based on an emphasis of cost versus differentiation.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Focus Variables<\/strong><strong><\/strong><\/td><td><strong>Strategy Options<\/strong><strong><\/strong><\/td><\/tr><tr><td>\u25ba Scope (Narrow vs. Broad)<br>\u25ba Source of Competitive Advantage (Cost vs. Differentiation)<\/td><td>\u25ba Cost Leadership (broad scope, cost-based)<br>\u25ba Differentiation (broad scope, differentiation-based)<br>\u25ba Cost Focus (narrow scope, cost-based)<br>\u25ba Differentiation Focus (narrow scope, differentiation-based)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_BCG_Growth_Share_Matrix\"><\/span>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BCG Growth Share Matrix<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The BCG Growth-Share Matrix helps take decisions about which strategic business units deserve more attention.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Focus Variables<\/strong><strong><\/strong><\/td><td><strong>Strategy Options<\/strong><strong><\/strong><\/td><\/tr><tr><td>\u25ba Growth rate (high vs. low)<br>\u25ba Market share (high vs. low)<\/td><td>\u25ba Consolidate\/Expand (high growth and market share)<br>\u25ba Harvest\/Grow (low growth, high market share)<br>\u25ba Invest or Divest (high growth, low market share)<br>\u25ba Divest (low growth and market share)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_GE-McKinsey_Matrix_aka_Directional_Policy\"><\/span>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GE-McKinsey Matrix (aka Directional Policy)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The GE-McKinsey Matrix helps determine strategic priorities based on market opportunities.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Focus Variables<\/strong><strong><\/strong><\/td><td><strong>Strategy Options<\/strong><strong><\/strong><\/td><\/tr><tr><td>\u25ba Industry attractiveness (high vs. low)<br>\u25ba Strength of a Business Unit or Product (high vs. low)<\/td><td>\u25ba Invest\/Grow (high attractiveness and strength)<br>\u25ba Hold\/Protect (medium attractiveness and\/or strength)<br>\u25ba Harvest\/Divest (low attractiveness and strength)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Shell_Directional_Matrix\"><\/span>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shell Directional Matrix<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Shell Directional Matrix provides a simple, yet comprehensive matrix of strategy options based on internal and external factors.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Focus Variables<\/strong><strong><\/strong><\/td><td><strong>Strategy Options<\/strong><strong><\/strong><\/td><\/tr><tr><td>\u25ba Strengths and capabilities of the business (strong vs. weak)<br>\u25ba Industry attractiveness and profitability (high vs. low)<\/td><td>\u25ba Divest \/ withdraw from market<br>\u25ba Selective investment<br>\u25ba Invest to build and grow<br>\u25ba Selective growth<br>\u25ba Harvest\/divest<br>\u25ba Consolidate and protect<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_Strategy_Clock\"><\/span>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Strategy Clock<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Strategy Clock tool provides a means of strategic positioning based on some products or services.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Focus Variables<\/strong><strong><\/strong><\/td><td><strong>Strategy Options<\/strong><strong><\/strong><\/td><\/tr><tr><td>\u25ba How customers perceive the value of products or services<br>\u25ba Price of products or services<\/td><td>\u25ba Price-emphasis<br>\u25ba Differentiation<br>\u25ba Hybrid Strategy<br>\u25ba High Margins<br>\u25ba Monopoly Pricing<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"7_Gap_Analysis\"><\/span>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gap Analysis<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Gap Analysis aims to identify chokepoints and other negative aspects which may be holding the company back.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Focus Variables<\/strong><strong><\/strong><\/td><td><strong>Strategy Options<\/strong><strong><\/strong><\/td><\/tr><tr><td>Is not limited to specific types of input. Can consider any internal or external aspects of a business<\/td><td>Does not recommend specific strategies. Instead, it can help identify various types of gaps in the market<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"8_Strategy_Canvas\"><\/span>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Strategy Canvas<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The strategy canvas model helps plan the future direction of the company, with a focus on innovating and avoiding factors with high competition.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Focus Variables<\/strong><strong><\/strong><\/td><td><strong>Strategy Options<\/strong><strong><\/strong><\/td><\/tr><tr><td>\u25ba Most common and dominant trends and critical factors in the industry<br>\u25ba Areas of innovation with relatively less competition<\/td><td>Does not recommend specific strategies. Instead, it helps identify gaps in competitor\u2019s offerings specifically<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"9_Scenario_Planning_and_Analysis\"><\/span>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Scenario Planning and Analysis<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Scenario Planning is aimed at rooting strategy choices based on the degree of likelihood and risks involved.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Focus Variables<\/strong><strong><\/strong><\/td><td><strong>Strategy Options<\/strong><strong><\/strong><\/td><\/tr><tr><td>\u25ba Impact of scenario (high vs. low)<br>\u25ba Likelihood of scenario (high vs. low)<\/td><td>\u25ba Cautious approach (high impact and low likelihood)<br>\u25ba Safe approach (low impact and likelihood)<br>\u25ba Risk approach (high impact, high likelihood)<br>\u25ba Taking a gamble (low impact, high likelihood)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"10_Strategic_Alignment_Matrix_aka_Action_Priority_Matrix\"><\/span>10.&nbsp;&nbsp; Strategic Alignment Matrix (aka Action Priority Matrix)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Strategic Alignment Matrix is a framework for prioritizing strategies options by comparing potential significance of strategies with the effort required to pursue and capitalize on them.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Focus Variables<\/strong><\/td><td><strong>Strategy Options<\/strong><\/td><\/tr><tr><td>\u25ba Impact of initiatives (high vs. low)<br>\u25ba Effort required to implement (high vs. low)<\/td><td>\u25ba Pursue Quick Wins (high impact, low effort)<br>\u25ba \u2018Fill in\u2019 Opportunities (low impact and effort)<br>\u25ba Waste of Time (low impact, high effort)<br>\u25ba Major Projects (high impact and effort)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"11_Change-Impact_Model\"><\/span>11.&nbsp;&nbsp; Change-Impact Model<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Change-Impact model is particularly relevant when looking at strategies involving changes. It helps categorize the different options for easier decision-making.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Focus Variables<\/strong><\/td><td><strong>Strategy Options<\/strong><\/td><\/tr><tr><td>\u25ba Necessity for change (high vs. low)<br>\u25ba Degree of change required (high vs. low) &nbsp;<\/td><td>\u25ba Overhaul (high need and level of change)<br>\u25ba Overkill ((low need, high level of change)<br>\u25ba Synergy (high need, low level of change)<br>\u25ba Limited Impact (low need and level of change)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"12_Strategic_Fit_and_Progress\"><\/span>12.&nbsp;&nbsp; Strategic Fit and Progress<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Strategic Fit and Progress framework assists in evaluating ongoing strategic initiatives and taking decisions on how to continue further with them.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Focus Variables<\/strong><\/td><td><strong>Strategy Options<\/strong><\/td><\/tr><tr><td>\u25ba Level of Strategic Fit (high vs. low)<br>\u25ba Progress of initiative (good vs. bad)<\/td><td>\u25ba Invest Further (high fit, good progress)<br>\u25ba Selective Support (high fit, bad progress)<br>\u25ba De-prioritize (low fit, good progress)<br>\u25ba Scrap \/ Eliminate (low fit, bad progress)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"13_Game_Theory\"><\/span>13.&nbsp;&nbsp; Game Theory<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The application of Game Theory allows companies to stay ahead of the curve through anticipating, acting or reacting dynamically in response to moves by competitors.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Focus Variables<\/strong><\/td><td><strong>Strategy Options<\/strong><\/td><\/tr><tr><td>\u25ba Actions and reactions of market players<br>\u25ba Potential consequences of different actions<\/td><td>Does not recommend specific strategies. Instead, it helps plan contingencies by considering moves and countermoves<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"14_Balanced_Scorecard\"><\/span>14.&nbsp;&nbsp; Balanced Scorecard<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Balanced Scorecard approach is useful for optimizing workflow by monitoring performance against benchmarks.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Focus Variables<\/strong><\/td><td><strong>Strategy Options<\/strong><\/td><\/tr><tr><td>\u25ba Financial Aspects<br>\u25ba Customer Relationship<br>\u25ba Internal Business<br>\u25ba Innovation &amp; Learning<\/td><td>Does not recommend specific strategies. Instead, it helps identify gaps in service delivery<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"15_Strategic_Sweet_Spot\"><\/span>15.&nbsp;&nbsp; Strategic Sweet Spot<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Strategic Sweet Spot illustration helps to visualize unique core competencies that are difficult to imitate and addresses main pain points of customers.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Focus Variables<\/strong><\/td><td><strong>Strategy Options<\/strong><\/td><\/tr><tr><td>\u25ba Customer Needs<br>\u25ba Company\u2019s Capabilities<br>\u25ba Competitor Offerings<br>\u25ba Environmental Context<\/td><td>Does not recommend specific strategies. Instead, it helps identify gaps in service delivery<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"16_Buyer_Utility_Map\"><\/span>16.&nbsp;&nbsp; Buyer Utility Map<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Buyer Utility Map is a representation of the value proposition of the company and how it corresponds to each stage of user experience. Improve on pain points to deliver better value.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Focus Variables<\/strong><\/td><td><strong>Strategy Options<\/strong><\/td><\/tr><tr><td>\u25ba Utility Levels (Six Variables)<br>\u25ba Buyer Experience (Six Stages) &nbsp;<\/td><td>\u25ba Identify and categorize problems faced by customers<br>\u25ba Strategy output is to consider ways of resolving the pain points<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"17_Business_Model_Canvas\"><\/span>17.&nbsp;&nbsp; Business Model Canvas<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Business Model Canvas helps identify new ideas for growth in existing businesses and create a visual roadmap for realizing them.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Focus Variables<\/strong><\/td><td><strong>Strategy Options<\/strong><\/td><\/tr><tr><td>\u25ba Hybrid Internal\/External Analysis<br>\u25ba Internal Activities<br>\u25ba Resources<br>\u25ba Cost and channels<br>\u25ba Key Partners<br>\u25ba Value Proposition for Customers<\/td><td>Brainstorm strategies ideas which create better links between the main factors considered<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"18_Jobs_to_be_Done_Model\"><\/span>18.&nbsp;&nbsp; Jobs to be Done Model<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Jobs to be Done is a model which helps explore ideas for strategies which provide the best returns for the level of work done by the company.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Focus Variables<\/strong><\/td><td><strong>Strategy Options<\/strong><\/td><\/tr><tr><td>\u25ba Level of Work (Better vs. Worse)<br>\u25ba Charge to Customer (More vs. Less)<\/td><td>\u25ba Differentiated Strategy (target underserved customers)<br>\u25ba Dominate Strategy (all types of customers)<br>\u25ba Discrete Strategy (customers with limited options)<br>\u25ba Disruptive Strategy (overserved and non-customers)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"19_Six_Paths_Framework_Blue_Ocean_strategy\"><\/span>19.&nbsp;&nbsp; Six Paths Framework (Blue Ocean strategy)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Six Paths Framework is a common application of blue ocean strategy in which the strategy pathways which focus on \u2018blue ocean\u2019 spaces with relatively less competition are explored.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Focus Variables<\/strong><\/td><td><strong>Strategy Options<\/strong><\/td><\/tr><tr><td>\u25ba Industry<br>\u25ba Strategic Group<br>\u25ba Buyer Group<br>\u25ba Scope of Product\/Service<br>\u25ba Functional\/Emotional Orientation<br>\u25ba Time<\/td><td>\u25ba Explore alternative industries<br>\u25ba Identify other strategic groups<br>\u25ba Redefine industry buyer groups<br>\u25ba Consider complementary products and services<br>\u25ba Rethink orientation of the industry<br>\u25ba Try to share external trends over time<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"20_Three_Tiers_of_Non-Customers\"><\/span>20.&nbsp;&nbsp; Three Tiers of Non-Customers<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The model of Three Tiers of Non-Customers provides recommendations for expanding target customers to other tiers of non-customers and bringing them into the industry.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-contrast-color has-base-2-background-color has-text-color has-background has-fixed-layout\"><tbody><tr><td><strong>Focus Variables<\/strong><\/td><td><strong>Strategy Options<\/strong><\/td><\/tr><tr><td>\u25ba Customers currently in the industry<br>\u25ba Customers who are at the edge of industry<br>\u25ba Customers who refuse to come into the industry<br>\u25ba Customers in other Industries<\/td><td>Does not recommend specific strategies. Instead, it helps identify gaps in the company\u2019s market reach<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"21_Competitive_Position_Tactics\"><\/span>21.&nbsp;&nbsp; Competitive Position Tactics<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Competition Position Tactics is a tool which factors in the cost aspect to categorize differentiation strategies.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Focus Variables<\/strong><\/td><td><strong>Strategy Options<\/strong><\/td><\/tr><tr><td>\u25ba Degree of Differentiation<br>\u25ba Relative Costs<\/td><td>\u25ba Maintain Specialty (high differentiation and cost)<br>\u25ba Outstanding Success (high differentiation and low cost)<br>\u25ba Hope for Growth (low differentiation and high cost)<br>\u25ba Maintain Cost Advantage (low differentiation and cost)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"22_Importance_Satisfaction_Model\"><\/span>22.&nbsp;&nbsp; Importance Satisfaction Model<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Importance-Satisfaction Model helps identify which strategies require more focus and attention based on the satisfaction level of stakeholders and their importance to the company.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Focus Variables<\/strong><\/td><td><strong>Strategy Options<\/strong><\/td><\/tr><tr><td>\u25ba Satisfaction Level of Stakeholders<br>\u25ba Importance of Stakeholders<\/td><td>\u25ba Surplus Area (high satisfaction, low importance)<br>\u25ba Excellent Area (high satisfaction and importance)<br>\u25ba Careless Area (low satisfaction and importance)<br>\u25ba Area to be Improved (low satisfaction, high importance)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Makes_a_Good_Toolkit\"><\/span>What Makes a Good Toolkit<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The selection of the right tools for strategy analysis depends on the goals and expected outcomes of the strategy planner and stakeholders. The following section provides an overview of different contexts and some of the most suitable techniques from the strategy toolbox for them.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Strategy_Toolkit_for_Improving_Value_Proposition\"><\/span>Strategy Toolkit for Improving Value Proposition<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>When the strategy which you are looking for involves creating better value for customers, then it would be better to choose a tool which takes this into consideration. This can include the following tools.<\/p>\n\n\n\n<ul><li>Balanced Scorecard<\/li><li>Gap Analysis<\/li><li>Buyer Utility Map<\/li><li>Business Model Canvas<\/li><li>Strategic Sweet Spot<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Strategy_Toolkit_for_Growth_in_Scale_or_Scope\"><\/span>Strategy Toolkit for Growth in Scale or Scope<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>If you aiming to achieve a growth in the company\u2019s scale of operations, the suitable tools are ones that compare growth potential in some way. This can include tools like the following.<\/p>\n\n\n\n<ul><li>Ansoff\u2019s Matrix<\/li><li>BCG Growth-Share Matrix<\/li><li>GE-McKinsey Matrix<\/li><li>Shell Directional Matrix<\/li><li>Strategic Alignment Matrix<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Strategic_Toolkit_for_Competitive_Positioning\"><\/span>Strategic Toolkit for Competitive Positioning<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>For better strategic positioning in relation to competition, the appropriate tools to consider must have a consideration of competitive aspects. This makes the following tools well-suited to this situation.<\/p>\n\n\n\n<ul><li>Porter\u2019s Generic Strategies<\/li><li>Strategy Clock<\/li><li>Strategy Canvas<\/li><li>Strategic Fit<\/li><li>Six Paths Framework<\/li><li>Tiers of Non-Customers<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Strategy_Toolkit_for_Evaluating_and_Choosing_Strategic_Direction\"><\/span>Strategy Toolkit for Evaluating and Choosing Strategic Direction<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The best tools to use when changes to strategic direction are involved are those that help explore and address the uncertainties or efforts involved with the changes. Hence, the appropriate tools for this situation are:<\/p>\n\n\n\n<ul><li>Scenario Planning<\/li><li>Change-Impact model<\/li><li>Game Theory<\/li><li>Jobs to be Done<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Strategy_Toolkit_for_Performance_Optimization\"><\/span>Strategy Toolkit for Performance Optimization<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>On the other hand, if you are only looking to enhance company performance and optimize workflows, some of the strategy tools to consider are the following.<\/p>\n\n\n\n<ul><li>Gap Analysis<\/li><li>Balanced Scorecard<\/li><li>Scenario Planning<\/li><li>Jobs to be Done<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Strategy_Tools_for_Small_Businesses\"><\/span>Strategy Tools for Small Businesses<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Most of the strategy tools listed above are broad in scope and can be used by small businesses in the same way that large corporations would. Some other key considerations for small businesses when using strategy tools and techniques are as follows:<\/p>\n\n\n\n<ul><li>Small business must take care in choosing strategy tools that are suited to their scale of operations<\/li><li>Some of the tools such as BCG Matrix which looks at strategic business units are not directly relevant for small businesses as they typically do not have many such divisions<\/li><li>Small businesses should restrict the use of tools to only the immediate market or environment to avoid distractions and poor allocation of resource and efforts<\/li><li>Tools aimed at improving the value proposition are likely to be more important in the early stages for small businesses<\/li><li>Strategy prioritization tools such as the Strategic Alignment or Change-Impact models are also more important for small businesses as they have a greater need for time and resource prioritization<\/li><li>Tools such as Balanced Scorecard and Gap Analysis may complicate things if used in early-stage start-ups as they can create distractions and lead to over-fixation on process optimization over the company\u2019s growth and expansion<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>What is a Strategy Toolkit? A strategy toolkit is a collection of different strategy frameworks and tools which are used for developing strategy options and evaluating alternative strategy directions. While tools of internal and external analysis are sometimes seen as strategy frameworks, we need to make an important distinction. Most of these tools only help &#8230; <a title=\"Using a Strategy Toolkit for Better Strategy Visualization\" class=\"read-more\" href=\"https:\/\/gradmode.com\/using-a-strategy-toolkit-for-better-strategy-visualization\/\" aria-label=\"Read more about Using a Strategy Toolkit for Better Strategy Visualization\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":835,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Using a Strategy Toolkit for Better Strategy Visualization<\/title>\n<meta name=\"description\" content=\"The usage of a strategy toolkit containing some of widely recognized tools and frameworks is critical for effective strategy visualization.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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