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    The BCG Matrix and its Support of Management Decision Making

    The BCG Matrix and its Support of Management Decision Making - Business economics - Term Paper 2015 - ebook 14.99 € - GRIN

    The BCG Matrix and its Support of Management Decision Making

    Term Paper, 2015

    The BCG Matrix and its Support of Management Decision Making Term Paper, 2015 23 Pages

    M P



    Table of Contents

    List of Abbreviations

    List of Tables List of Figures 1 Introduction

    1.1 Problem definition

    1.2 Research question

    1.3 Structure and methodology

    2 The BCG Matrix 2.1 History

    2.2 Objective and application

    2.3 Description of the BCG Matrix

    3 TopSim General Management II

    3.1 Overview about the game

    3.2 Game flow

    3.3 Introduction of COPYFIX Inc. - Company

    3.4 Decisions and simulation

    3.5 Application of the BCG model to the simulation

    4 Conclusion 4.1 Summary

    4.2 Answering the research question

    Publication bibliography

    List of Abbreviations

    illustration not visible in this excerpt

    List of Tables

    Table 1: Calculation of market growth.

    Table 2: Calculation of relative market share

    Table 3: Data for the BCG Matrix for company 1.

    List of Figures

    Figure 1: The BCG Matrix under influence of experience curve and life-cycle curve

    Figure 2: The implication for the four quadrants of the BCG-Matrix

    Figure 3: Strategy of Company

    Figure 4: Price development market

    Figure 5: Development of CGM of product 1.

    Figure 6: Development of utilization of company

    Figure 7: Development of sold units in market 1

    Figure 8: Development of revenue in market

    Figure 9: Development of market share market 1

    Figure 10: Development of net income

    Figure 11: Price development in market 2.

    Figure 12: Development of revenue in market

    Figure 13: BCG Matrix for period five for company 1

    1 Introduction

    Companies as social systems of our society can only survive if they create something which is in exchange with their environment of value. As the environment changes constantly companies have to adapt their products, processes or even business model to these changes. This is what we call innovation in the broader sense.[1] If a company does not notice a change in the environment the company will get in trouble. The Finnish company Nokia is on one hand a really good example of a company that correctly early perceived and interpreted developments in their environment and made the right strategic decision. On the other Nokia is a tragic example because the company missed another strategic decision and thus slipped into red numbers. At the beginning of the 20th century Nokia produced successfully rubber boots and bicycle tires. However, the company realized that the future of the market for rubber products will be dominated by Asia and looked around for new high-growth markets. In the 80s, the company introduced the first mobile phone and developed from rubber boots manufacturers over years into a successful technology company. End of the 90s, Nokia was the world leader in the emerging market for mobile phones. But the dominance crumbled after Apple had introduced the iPhone in 2007. The Finnish mobile phone manufacturer reacted too late to the smartphones trend and within a few years Nokia slipped deep into the red numbers. In year 2014 the software manufacturer Microsoft bought the company.[2]

    1.1 Problem definition

    The example Nokia impressively demonstrates the importance of strategic decisions for the survival of a company, the safeguarding of jobs and for the survival of capital from shareholders. The management has many different tasks that need to be carried out in order to be successful. But one of the most important tasks of the management is it to make decisions. This is also the most critical task because a decision makes or breaks a manager. Each decision is based on many assumptions for example about future market trends and technological development. Especially strategic decisions are very difficult because they have a sustainable impact on the performance of the company like the example of Nokia has shown. Many corporate crises can be attributed to strategic mistakes. Therefore strategic decisions should be the result of a prepared, planned and controlled analysis.

    1.2 Research question

    In the literature exist beside porters five forces, the value chain analysis or the competitor analysis many different techniques and models to analyze the macro and micro environment. All the models, techniques and instruments can serve as a basis for decisions. But one of the most renowned instruments in the management for the strategic decisions is the BCG Matrix. Therefore, the question arises: How far can the BCG Matrix contribute to support management decisions?

    1.3 Structure and methodology

    This work is divided into different parts. The first part demonstrates the theory behind the BCG Matrix. The section starts with a rough overview about the history of the BCG Model followed by the objectives and the application field. The first part ends with a description of the various dimensions, the four quadrants and different standard strategies. The second section represents the case study. This part starts with a compressed overview about the TOPSIM – General Management II simulation itself and the game flow. After a short introduction of the COPYFIX Inc. (Company 1) the decisions and results will be presented. At the end of the second section the BCG Matrix will be applied to the simulation. In the last part a conclusion will complete the entire work and will answer the research question.

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    Decision making along with bcg model of planning and decision making.

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    venkat1693 2 weeks ago Economy Secondary School

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    Decision making along with bcg model of planning and decision making.

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    ★ Answer ★

    The BCG model of planning and decision making is a widely used business tool which helps to identify the best strategic options for a company. It is a four-stage process which entails analyzing the current business environment and then determining the best course of action to achieve a desired outcome.

    The four stages of the BCG model are as follows:

    1. Business Analysis: This stage involves analyzing the current business environment, such as the competitive landscape, market trends, customer needs, and financial performance.

    2. Strategy Development: This stage involves developing a comprehensive strategy based on the data gathered from the previous stage. This strategy will include a set of goals and objectives, as well as a timeline for achieving them.

    3. Implementation: This stage involves executing the strategy developed in the previous stage. This may include launching new products or services, expanding into new markets, and restructuring existing operations.

    4. Evaluation: This stage involves evaluating the success of the strategy and making adjustments as needed. This evaluation will include looking at the financial performance of the business, customer feedback, and the competitive landscape.

    Using the BCG model of planning and decision making, a business can make informed decisions and create an effective strategy to reach its goals. The model provides an organized and systematic approach to decision making, which can help to ensure that the best strategic options are chosen.

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    The decision making along with the BCG model of planning and decision-making.

    A BCG matrix is a model that tried to evaluate a business’s properties to assist with long-term strategic planning.

    The matrix assists firms to specify fresh growth alternatives and determine how they should capitalize for the future.

    A BCG matrix assists companies comprehend their recent and prospective competitive terrains.

    The procedure can boost business owners enhance products, observe fresh alternatives, and even determine assistance to exclude.

    The BCG matrix provides the company with a framework for assessing the achievement of each output to help the corporation determine which ones they should capitalize more wealth into and which they should exclude altogether.

    It can also help corporations specify a new product to initiate to the market.

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    How to use the BCG Matrix

    The Boston Consulting group’s product portfolio matrix (BCG) optimizes long-term strategic planning. Find examples of this marketing model.

    How to use the BCG Matrix model

    By Annmarie Hanlon 07 Jan, 2022

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    Examples of using the BCG Matrix (Growth Market Share Matrix) to review your product portfolio

    What is the BCG Matrix?

    The Boston Consulting group’s product portfolio matrix (BCG matrix) is designed to help with long-term strategic planning, to help a business consider growth opportunities by reviewing its portfolio of products to decide where to invest, to discontinue, or develop products. It's also known as the Growth/Share Matrix.

    The Matrix is divided into 4 quadrants based on an analysis of market growth and relative market share, as shown in the diagram below.

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    1. Dogs: These are products with low growth or market share2. Question marks or Problem Child: Products in high growth markets with low market share3. Stars: Products in high-growth markets with high market share4. Cash cows: Products in low growth markets with high market shareStrategic marketing models for 2022

    Looking for marketing models to inform your marketing strategy? Our essential marketing models guide covers our top 15 recommended models to support you in applying a data-driven approach to your marketing strategy and planning.

    Free essential marketing models

    Our free guide details 15 classic planning tools to help you use data and analysis to develop your marketing strategy.

    Access the Essential marketing models for business growth

    BCG Modelling is not a new phenomenon, but in the changing digital landscape, its meaning for and application to your marketing strategy will continue to develop.

    That's why this blog addresses not just how to use the BCG Matrix but also the practical application of this matrix to your strategy, as well as other essential digital marketing matrixes.

    Looking for practical marketing strategy solutions?

    Want to boost your strategy to win more customers? Our top recommended marketing strategy model is the RACE Framework. This flexible, actionable marketing planning structure empowers marketers and managers to break down their marketing activities and track their customers' journeys across reach act, convert, and engage, using data.

    What's more, all our marketing resources are fully integrated within the RACE Framework so you can confidently prioritize and apply your digital marketing optimizations using customer data and insights to reach your goals.

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    How to use the BCG Matrix?

    To apply the BCG Matrix you can think of it as showing a portfolio of products or services, so it tends to be more relevant to larger businesses with multiple services and markets.

    However, marketers in smaller businesses can use similar portfolio thinking to their products or services to boost leads and sales as we'll show at the end of this article.

    Considering each of these quadrants, here are some recommendations on actions for each:

    Dog products: The usual marketing advice here is to aim to remove any dogs from your product portfolio as they are a drain on resources.

    However, this can be an over-simplification since it's possible to generate ongoing revenue with little cost.

    For example, in the automotive sector, when a car line ends, there is still a need for spare parts. As SAAB ceased trading and producing new cars, a whole business emerged providing SAAB parts.

    Question mark products: As the name suggests, it’s not known if they will become a star or drop into the dog quadrant. These products often require significant investment to push them into the star quadrant. The challenge is that a lot of investment may be required to get a return. For example, Rovio, creators of the very successful Angry Birds game has developed many other games you may not have heard of. Computer games companies often develop hundreds of games before gaining one successful game. It’s not always easy to spot the future star and this can result in potentially wasted funds.Star products: Can be the market leader though require ongoing investment to sustain. They generate more ROI than other product categories.Cash cow products: The simple rule here is to ‘Milk these products as much as possible without killing the cow! Often mature, well-established products. The company Procter & Gamble which manufactures Pampers nappies to Lynx deodorants has often been described as a ‘cash cow company’.

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