What is meant by SPACE matrix in strategic management?
The SPACE matrix is a management tool used to analyze a company. It is used to determine what type of a strategy a company should undertake. The SPACE matrix can be used as a basis for other analyses, such as the SWOT analysis, BCG matrix model, industry analysis, or assessing strategic alternatives (IE matrix).
What is SPACE Matrix in what way it is useful in strategy formulation?
SPACE matrix which stands for Strategic Position and Action. Evaluation is one of these tools which have gained high reliability for considering macroeconomic, microeconomic. and financial factors in the process of determining the position of the organization.
What is the strategic position and ACtion evaluation SPACE Matrix?
Using the Strategic Position and Action Evaluation Matrix method we find the strategic position/posture of an organization. The external dimension includes the industry strength and the environmental stability which is used to identify the strategic position in the industry.
What are the four quadrants of SPACE matrix?
The SPACE Matrix is used to map SME into one of these quadrants: aggressive, conservative, defensive, or competitive.
What is Space matrix in data structure?
A matrix is a two-dimensional data object made of m rows and n columns, therefore having total m x n values. If most of the elements of the matrix have 0 value, then it is called a sparse matrix.
What is strategic positioning matrix?
Using the Strategic Position and Action Evaluation Matrix method we find the strategic position/posture of an organisation. The internal dimension includes competitive advantage and the financial strength which are the major factors to determine the strategic position of any organization.
What are two of the strategies that you might recommend if the strategic position and ACtion evaluation space matrix directional vector points to the lower left quadrant?
If the directional vector points to the lower-left quadrant of the SPACE Matrix, students should suggest defensive strategies. Defensive strategies include retrenchment, divestiture, liquidation, and related diversification.
What is the BCG matrix of Coca Cola?
BCG Matrix also is known as the growth-share matrix is used by organizations to classify their business units or products into 4 different categories: Dogs, Stars, Cash Cows and Question Mark.
What is space matrix analysis?
Space Matrix Analysis. Space Matrix refers to the strategic position and action evaluation matrix. Space matrix is an important strategic management tool used for the purpose of determining the type of a strategy a company should undertake.
What is space in strategic management?
Strategic Position and Action Evaluation Matrix (SPACE) is “an approach to hammer out an appropriate strategic posture for a firm and its individual business.” SPACE is an analysis of the following four dimensions in as in a two-dimensional portfolio analysis and involves a consideration of: Company’s competitive advantage.
What are space matrix factors related to business external strategic dimension?
SPACE matrix factors related to business external strategic dimension are for example overall economic condition, GDP growth, inflation, price elasticity, technology, barriers to entry, competitive pressures, industry growth potential, and others. These factors can be well analyzed using the Michael Porter’s Five Forces model.
What is strategic position & action evaluation matrix?
The Strategic Position & ACtion Evaluation matrix or short a SPACE matrix is a strategic management tool that focuses on strategy formulation especially as related to the competitive position of an organization.