Thanks a lot of you Ma'am
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What is the difference between 2by2 matrix decision making and BCG matrix?
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Hello Farhat,
BCG matrix is a specific (and good) example of a 2by2 decision making matrix. You can find useful information on this here: https://strategicmanagementinsight.com/tools/bcg-matrix-growth-share.html
Feel free to text me if you need further help,
Luca
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There is no difference.
In fact, one is just an exemplification.
Matrixes are a very commonly used tool when solving cases, with some particularities:
- Can be 2x2 or even 3x3, when you have scenarios such as "low, med, high" vs. scenarios such as "new/existing" or "go/no go"
- The content of the axis can totally vary and it´s the part that needs to be tailored for each interview.
Cheers,
Clara
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Hi A,
BCG matrix is a very well known variation of 2by2 matrix and it's used for assessing a company’s current product portfolio based on the product life cycle and the experience curve. Also it is known as growth-share matrix
In case any question, feel free to contact me
Best,
André
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The BCG Matrix is simply an example of a 2x2 matrix. In essence, it is the same, but with a meaning assigned to the quadrants.
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Thanks a lot of you sir
Hi!
I think you misunderstand this. There is no "difference" that can be discussed.
The BCG matrix is an example for a 2x2 decision matrix.
It combines two dimensions in order to reach an insight regarding each combination of these two dimensions. In the BCG matrix, we have 2 possible manifestations for each dimension ("high" or "low"), therefore we get a 2x2 decision matrix. There are other examples with more possible manifestations (for example "high", "medium" "low", which would then result in a 3x3 matrix with 9 potential outcomes/strategies).
Cheers, Sidi
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Thanks a lot you. Now my concept has cleared and I can work on my assignment. Thanks once again sir
Hi Farhat,
as mentioned by others, the BCG matrix is a specific type of 2x2 matrix.
Best,
Francesco
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