ABSTRACT
Igor Ansoff’s ‘strategic choices’ matrix was first published in the Harvard Business Review in 1957 and has stood the test of time as one of the most respected strategic models. This matrix is a method of generating strategic options for organisations; however, it can also be used to assess competitor’s products/markets in order to gain ‘first mover advantage’. The Ansoff Matrix enables an organisation to choose from a combination of four options to best suit its needs and to provide for optimum growth success. The four options are as follows: Protect/build; Product development; Market development; and Diversification. Ansoff matrix model may also be used with different axes such as strategies versus markets; or strategies versus products. These variations help assess strategic options for the organisation going forward and are based on the same principles as the original Ansoff Matrix.
