How to Use The BCG Matrix to Maximize Profits Over Time
Ever since Boston Consulting Group founder Bruce Henderson came up with the idea for the BCG Matrix in 1968, this simple framework has helped companies clarify and prioritize opportunities for their business with the goal of maximizing profits over time. From Fortune 500 giants to small businesses, and even one person operations, everyone can benefit from applying the BCG Matrix. The matrix has two dimensions, growth potential and market share, so it is also called the Growth Share Matrix. Let’s dive in and see how comparing business segments based on these two metrics can help you plan and allocate resources wisely to maximize profits, not just today, but for the future.