Updated: Jan 4
To plan strategically, it is useful to have a few tools up your sleeve. One useful tool is the Ansoff Matrix - a strategic planning tool that provides a framework to help marketers map strategies for future growth. It was created by the Russian applied mathematician and business manager Igor Ansoff.
For the manager wishing to grow revenue, acquisition of new business is essential. There are four options available and they have very different risk and resource profiles.
Populating the Ansoff Matrix helps to capture the growth options that might be available. It also gives a starting point for profiling and so selecting the strategies that are most attractive to the business.