Growth Strategy Toolbox
Has your company's growth stagnated and reached a plateau? Download the Growth Strategy Toolbox presentation template to test, execute, and share new growth strategies across your entire team. Companies can use different growth strategies to escape stagnation, but execs also need tools to communicate the timeframe of a strategy, decide which growth areas to prioritize, or assess the organization's current capabilities and if they're enough for the next growth challenge.
The template includes slides on growth tools like the BCG Growth-Share Matrix, a Blue Ocean Canvas, Growth Spending, Balanced Scorecard for Growth, the Three Horizons Model, Industry Lifecycle Analysis, Financial Project, Growth Roadmap, Industry Attractiveness, and an Opportunity Vulnerability Matrix, and many more. Additionally, we explain how a product company like Apple could assess its own growth potential with the tools in this framework.
BCG growth-share matrix
Developed by Boston Consulting Group, the BCG Growth-Share Matrix is a visualization tool that plots a company's multiple product lines along with their relative market share and against their market growth rate.
This matrix visualization plots the product lines into four quadrants according to their relevant market growth rate and relative market share. Each icon on the matrix correlates to a "growth category" to determine how each product should be considered.
The table on the left provides more quantitative context to back up the matrix and assess the four product lines along with market growth, total market share and relative market share. While total market share compares the product against top competitors, relative market share compares the product to the industry leader. (Slide 8)
Blue ocean canvas
Once the product line with the best growth potential has been identified, a Blue Ocean Canvas can help execs implement the growth strategy of differentiation. Various features of the product or service are listed at the bottom of the canvas, assessed from low value to high value. Features that are core competencies of the industry-standard are considered weaknesses and are ranked first. This is the red ocean, and to differentiate, these features can be eliminated or reduced.
Features that the competition does not handle well are areas where your company could excel, and represent the blue ocean. These features should be raised or created to grow the company with new value propositions the competition doesn't offer. (Slide 14)
Ansoff product growth matrix
Another tool execs can use is the Ansoff product growth matrix, which explores different growth areas across product-market fit. Efforts are categorized based on whether they will include new or existing products targeted at new or existing markets. An existing product in a new market would be considered market development, while a new product in a new market would be diversification. (Slide 19)
This Growth Spending slide includes an Ansoff product growth matrix alongside a comparison table to detail the percentage of spend dedicated to each growth strategy across time. This breakdown reveals areas to increase spend to diversify growth tactics. In an extreme example where one tactic has 0% spend, a pivot could be made to increase spend towards that strategy to increase growth. (Slide 20)
Execs can grade their growth efforts with a balanced scorecard, a strategic planning tool that covers four perspectives of growth: financial, customer, internal process, and learning + development. In this visualization, objectives for each perspective are listed, followed by the KPI metrics to track success and target goals for each. The icons indicate whether the target has been reached, with a column for notes to elaborate on actions that have been taken or planned. Use this as a high-level growth blueprint to ensure all perspectives of the core business are healthy and fully operational. (Slide 25)
Apple business scenario (BCG growth share matrix and blue ocean canvas)
So how could a tech product company like Apple use these tools? A product line with high market growth and high market share is the company's star product. In Apple's case, this would be the iPhone. A product with high market growth but low relative market share is a question mark. In Apple's case, this could be its upcoming augmented and virtual reality headset.
Currently, Apple's global iPhone market share is 29% compared to its competitors, but its headset market share is zero because it hasn't launched yet. Analysts have predicted an AR headset could replace the iPhone in eight years, so this question mark could be Apple's best growth bet, especially as it plans to expand its services and entertainment business.
Apple only releases products when they're at "leapfrog" level to surpass the competition, which is why this headset will include micro OLED displays with a potential 8K resolution and 9x more pixels than current market leader Quest. This has the power to disrupt not only the competition, but traditional TVs, and represents an entirely new market and blue ocean to capture.
If you're unaware of your current growth strategies or need better tools to expand your business, you need this presentation. Download the Growth Strategy Toolbox for more slides on the Three Horizons Model, Industry Lifecycle Analysis, Financial Project, Growth Roadmap, Industry Attractiveness, and an Opportunity Vulnerability Matrix, plus many more to save time and hours of work.