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Strategic Management - Grand Strategy Matrix

Hello, I am really struggling with this one... Can you please help me to better understand the grand strategy matrix vs the Boston Consulting Group Matrix (BCG)?

I need 4 to 5 paragraphs to the following questions with references to get me started.

Grand strategy matrix - explain this matrix' advantage and disadvantage.

How do you compare and contrast this matrix of choice to BCG?

Are they compatible?

Can they be used together?

Please identify more than one advantage and one disadvantage for the matrix, give more than one comparison and more than one contrast to the BCG matrix, and expand upon your 'yes' or 'no' answers to tell us why in Q3 and Q4.

Solution Preview

The response addresses the queries posted in 738 words with references.

// In the present competitive era, the analysis and review of business related issues have become an important aspect for a long time settlement and sustainability of a business firm. The continuous evaluation of growth and retention of the successful products needs strategic management, which is very well implemented by the technique like Grand Strategy Matrix. In this relation, in the following discussion, we will explain the concept of Grand Strategic Matrix and its advantages and disadvantages associated with it in respect to a particular firm and the whole market sector.//

Advantage and Disadvantage of Grand Strategy Matrix

A Grand Strategy Matrix (GSM) can be defined as a well linked means that devises alternate strategies (Needle, 2004). Organizations and corporate sectors lying under this matrix are further subdivided into four quadrants, and suitable strategies are applied for the organization depending on the quadrant. Above all, this matrix covers two major dimensions that are market growth and competitive position.

The grand strategy matrix has become advantageous in formulating alternative strategies for the business that is facing tough market competition besides SWOT analyses, ...

Solution Summary

The response addresses the queries posted in 738 words with references.

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