Set Your Right Strategy with SPACE Matrix Analysis
You will be able to use the Strategic Position and Action Evaluation (SPACE) Matrix to examine and define the proper strategic direction for your organization by the end of this guided assignment. SPACE Matrix is a strategic management tool that focuses on strategy formulation, particularly in relation to an organization's competitive position. Financial Stability (FS) and Competitive Advantage (CA) are two internal dimensions of the matrix, while Environmental Stability (ES) and Industry Attractiveness are two external dimensions (IA). Essentially, the four-quadrant framework determines whether a business should pursue aggressive, cautious, defensive, or competitive strategies.
They will utilize a spreadsheet to draw and analyze the framework in order to find organization's optimal strategic position. In addition, they will evaluate an energy services company with the matrix to demonstrate how the approach works in practice. The initiative is designed for business leaders who wish to determine strategic direction for their firms in light of the operational and environmental challenges they face. Also for strategists who want to assist organizations in making well-informed strategic decisions. Using the SPACE Matrix, you will be able to develop, assess, and build a competitive edge for your company at the end of the project.
THE SKILLS YOU WILL DEVELOP:
- Leadership
- Management
- strategy
- Entrepreneurship
LEARN STEP BY STEP:
- Explain what the SPACE Matrix is
- Design the SPACE Matrix
- Analyze the financial strength of your organization
- Analyze the industry attractiveness of your organization
- Analyze the competitive advantage of your organization
- Analyze the environmental stability of your organization
- Compute the X and Y axis of your organization
- Set the strategic direction for your organization
- Analyze your competitive industry
- Put everything on the model together
Rating: 3.7/5
Website: coursera.org/projects/set-your-right-strategy-with-space-matrix-analysis
