What is the BCG Matrix? How to apply the BCG Growth-Share Matrix
The BCG Matrix, also known as the Boston Consulting Group Matrix, is a popular strategic management tool used by businesses to analyze and classify their product or service portfolio. Developed by Bruce D. Henderson in the 1970s, this matrix offers a visual representation of a company’s products or services in a way that helps managers make informed decisions about resource allocation and growth strategies. In this blog post, we will delve into what the BCG Matrix is, how it works, and how businesses can effectively use it to manage their product or service offerings. What is the BCG Matrix? The …