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Set Your Right Strategy with SPACE Matrix Analysis

Omodiaogbe Samuel

By the end of this guided project, you will be able to analyze, and set the right strategic direction for your organization using the Strategic Position and Action Evaluation (SPACE) Matrix. SPACE Matrix is a strategic management tool that focuses on strategy formulation especially as it relates to competitive position of an organization. The axes of the matrix represent two internal dimensions ―Financial Stability (FS) and Competitive Advantage (CA), and two external dimensions―Environmental Stability (ES) and Industry Attractiveness (IA). Essentially, the four-quadrant framework indicates whether aggressive, conservative, defensive, or competitive strategies is the most appropriate for a given organization. We will use spreadsheet to sketch and analyze the framework to determine the best strategic position for our organization. Also, we will use an energy services company to practically demonstrate how the model works, as we analyze the company with the matrix. The project is for business leaders who want to set strategic direction for their organizations given the operational and environmental conditions they have to contend with. Also, for strategist who are interested in helping organization in making informed strategic decisions. At the end of the project, you will be able to design, analyze, and create a competitive advantage for your organization using the SPACE Matrix

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Syllabus

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Helps set strategic direction for organizations given operational and environmental conditions

Teaches the Strategic Position and Action Evaluation (SPACE) Matrix

Develops skills in analyzing organizations' competitive positions and formulating strategies to overcome challenges

Provides practical insights through the demonstration of how the SPACE Matrix works using an energy services company example

Course is instructed by Omodiaogbe Samuel, a subject matter expert

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Reviews summary

Practical space matrix analysis

According to learners, this course offers a highly practical and clear introduction to the SPACE Matrix. Students particularly value the hands-on application using spreadsheets, finding it easy to follow and immediately applicable to their strategic planning. The instructor's explanations are superb, effectively demystifying complex concepts and providing a solid foundation. While most find the course concise and to the point, some experienced strategists might find the content less in-depth for advanced scenarios, suggesting it's best suited for those seeking an overview or a foundational understanding.

Provides a concise and solid introduction to the topic.

"A good overview of the SPACE Matrix. It clarified many aspects for me."

"Very concise and to the point... I appreciate the focus on actionable insights."

"This course is a gem for understanding strategy."

Instructor provides superb, easy-to-understand explanations.

"The instructor explains the SPACE Matrix concept very well... Highly recommend."

"Excellent guided project! It demystified the SPACE Matrix completely."

"Fantastic course! The instructor's explanations are superb, making complex topics easy to grasp."

"The explanations were clear enough."

Focuses on immediate applicability with spreadsheets.

"I can immediately apply this to my business strategy planning. Highly recommend for business leaders."

"The spreadsheet application was a fantastic hands-on experience and made it easy to follow along."

"The practical application with a spreadsheet made the theory come alive. It's a great tool to add to my strategic toolkit."

"The hands-on activity is what makes it stick. Highly recommended for professionals."

May lack depth for advanced learners or experienced strategists.

"I found the pace a bit too slow for someone already familiar with basic strategic concepts. It's probably better for absolute beginners."

"I expected more depth. It felt a bit superficial, especially if you've already read a bit about strategic matrices."

"The example was too simple for real-world complexity. Needs more advanced scenarios."

"I wish there were more diverse case studies, but overall, a solid foundation for strategic analysis."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Set Your Right Strategy with SPACE Matrix Analysis with these activities:

Review "Strategic Management: Theory and Practice" by Hitt, Ireland, and Hoskisson

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Reinforces the core concepts of strategic management and prepares you for the in-depth analysis you'll be doing in this course.

View Strategic Management: Concepts and Cases:... on Amazon

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Read the book's introduction and chapter summaries to get a general overview of strategic management concepts.
Focus on chapters 3-5 to understand the external and internal analysis frameworks that will be used in the course.
Take notes on the key concepts and theories presented in the book.

Watch tutorials on industry analysis and competitive positioning

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Enhances your understanding of the concepts and techniques used in industry analysis and competitive positioning, which are fundamental to the SPACE Matrix.

Browse courses on Industry Analysis

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Search for online tutorials or videos that cover industry analysis and competitive positioning.
Watch the tutorials and take notes on the key concepts and frameworks.
Apply the concepts to real-world examples to reinforce your learning.

Complete SWOT analysis practice exercises

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Develops your skills in conducting SWOT analyses, a crucial step in the SPACE Matrix process.

Browse courses on SWOT Analysis

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Find practice exercises or case studies that involve conducting SWOT analyses.
Apply the SWOT analysis framework to identify strengths, weaknesses, opportunities, and threats for the given scenarios.
Analyze the results of your SWOT analyses to draw insights and make recommendations.

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Attend a workshop on SPACE Matrix and strategic planning

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Provides an opportunity to engage with experts and practitioners, gain insights into real-world applications, and network with professionals in the field.

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Research and identify workshops on SPACE Matrix and strategic planning.
Attend the workshop and actively participate in discussions and activities.
Apply the knowledge and skills gained from the workshop to your own strategic planning efforts.

Participate in a peer discussion on SPACE Matrix applications

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Facilitates knowledge exchange and diverse perspectives on how to apply the SPACE Matrix in different industry contexts.

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Join or form a peer group with other course participants.
Choose a real-world business scenario and collectively apply the SPACE Matrix to analyze the company's strategic position.
Share and discuss your findings, including potential strategic actions and recommendations.

Contribute to an open-source project related to strategic management

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Enhances your understanding of strategic management principles and allows you to apply your knowledge in a practical setting.

Browse courses on Strategic Management

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Find an open-source project that focuses on strategic management or related topics.
Review the project's documentation and identify areas where you can contribute.
Make contributions to the project, such as adding new features, fixing bugs, or improving documentation.

Develop a SPACE Matrix for a real-world company

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Provides hands-on experience in applying the SPACE Matrix to a practical business scenario and evaluating strategic options.

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Select a company and gather data on its financial performance, competitive advantage, industry attractiveness, and environmental stability.
Plot the company's data on the SPACE Matrix and determine its strategic position.
Analyze the results to identify potential strategic actions and make recommendations.
Present your findings in a clear and concise report.

Participate in a strategic planning competition

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Provides a challenging and immersive environment to test and refine your strategic planning skills using the SPACE Matrix.

Browse courses on Strategic Planning

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Find and register for a strategic planning competition that aligns with your interests.
Form a team and develop a strategic plan using the SPACE Matrix as a framework.
Present your plan to a panel of judges and receive feedback.

Career center

Learners who complete Set Your Right Strategy with SPACE Matrix Analysis will develop knowledge and skills that may be useful to these careers:

Business Analyst

Business Analysts are responsible for identifying and analyzing business needs, and developing solutions to improve business processes. The SPACE Matrix Analysis course can provide Business Analysts with the skills and knowledge they need to understand the strategic position of their organization and develop strategies to improve performance. The course covers topics such as financial stability, competitive advantage, environmental stability, and industry attractiveness, which are all important factors for Business Analysts to consider when making recommendations to their clients.

See salaries and explore the career path for Business Analyst

Business Consultant

Business Consultants help organizations improve their performance by providing advice on strategy, operations, and technology. The SPACE Matrix Analysis course can provide Business Consultants with the skills and knowledge they need to understand the strategic position of their clients and develop strategies to improve performance. The course covers topics such as financial stability, competitive advantage, environmental stability, and industry attractiveness, which are all important factors for Business Consultants to consider when making recommendations to their clients.

See salaries and explore the career path for Business Consultant

Financial Analyst

Financial Analysts are responsible for analyzing financial data and making recommendations on investments. The SPACE Matrix Analysis course can provide Financial Analysts with the skills and knowledge they need to understand the financial stability of their clients and make recommendations on how to improve their financial performance. The course covers topics such as financial stability, competitive advantage, environmental stability, and industry attractiveness, which are all important factors for Financial Analysts to consider when making recommendations to their clients.

See salaries and explore the career path for Financial Analyst

Investment Banker

Investment Bankers are responsible for advising companies on mergers and acquisitions, and other financial transactions. The SPACE Matrix Analysis course can provide Investment Bankers with the skills and knowledge they need to understand the strategic position of their clients and develop strategies to improve their financial performance. The course covers topics such as financial stability, competitive advantage, environmental stability, and industry attractiveness, which are all important factors for Investment Bankers to consider when making recommendations to their clients.

See salaries and explore the career path for Investment Banker

Management Consultant

Management Consultants help organizations improve their performance by providing advice on strategy, operations, and technology. The SPACE Matrix Analysis course can provide Management Consultants with the skills and knowledge they need to understand the strategic position of their clients and develop strategies to improve performance. The course covers topics such as financial stability, competitive advantage, environmental stability, and industry attractiveness, which are all important factors for Management Consultants to consider when making recommendations to their clients.

See salaries and explore the career path for Management Consultant

Market Research Analyst

Market Research Analysts are responsible for conducting market research to identify and understand the needs of customers. The SPACE Matrix Analysis course can provide Market Research Analysts with the skills and knowledge they need to understand the environmental stability and industry attractiveness of their clients' markets. The course covers topics such as financial stability, competitive advantage, environmental stability, and industry attractiveness, which are all important factors for Market Research Analysts to consider when making recommendations to their clients.

See salaries and explore the career path for Market Research Analyst

Marketing Manager

Marketing Managers are responsible for developing and executing marketing campaigns to promote their products or services. The SPACE Matrix Analysis course can provide Marketing Managers with the skills and knowledge they need to understand the competitive advantage of their clients' products or services and develop strategies to improve their market share. The course covers topics such as financial stability, competitive advantage, environmental stability, and industry attractiveness, which are all important factors for Marketing Managers to consider when making recommendations to their clients.

See salaries and explore the career path for Marketing Manager

Portfolio Manager

Portfolio Managers are responsible for managing investment portfolios for their clients. The SPACE Matrix Analysis course can provide Portfolio Managers with the skills and knowledge they need to understand the financial stability and competitive advantage of their clients' investments. The course covers topics such as financial stability, competitive advantage, environmental stability, and industry attractiveness, which are all important factors for Portfolio Managers to consider when making investment decisions for their clients.

See salaries and explore the career path for Portfolio Manager

Product Manager

Product Managers are responsible for developing and launching new products or services. The SPACE Matrix Analysis course can provide Product Managers with the skills and knowledge they need to understand the competitive advantage of their clients' products or services and develop strategies to improve their market share. The course covers topics such as financial stability, competitive advantage, environmental stability, and industry attractiveness, which are all important factors for Product Managers to consider when making recommendations to their clients.

See salaries and explore the career path for Product Manager

Sales Manager

Sales Managers are responsible for leading and managing sales teams to achieve sales goals. The SPACE Matrix Analysis course can provide Sales Managers with the skills and knowledge they need to understand the competitive advantage of their clients' products or services and develop strategies to improve their sales performance. The course covers topics such as financial stability, competitive advantage, environmental stability, and industry attractiveness, which are all important factors for Sales Managers to consider when making recommendations to their clients.

See salaries and explore the career path for Sales Manager

Strategy Consultant

Strategy Consultants help organizations develop and implement strategic plans. The SPACE Matrix Analysis course can provide Strategy Consultants with the skills and knowledge they need to understand the strategic position of their clients and develop strategies to improve performance. The course covers topics such as financial stability, competitive advantage, environmental stability, and industry attractiveness, which are all important factors for Strategy Consultants to consider when making recommendations to their clients.

See salaries and explore the career path for Strategy Consultant

Venture Capitalist

Venture Capitalists invest in early-stage companies with high growth potential. The SPACE Matrix Analysis course can provide Venture Capitalists with the skills and knowledge they need to understand the financial stability, competitive advantage, environmental stability, and industry attractiveness of potential investments. The course covers topics such as financial stability, competitive advantage, environmental stability, and industry attractiveness, which are all important factors for Venture Capitalists to consider when making investment decisions.

See salaries and explore the career path for Venture Capitalist

Financial Planner

Financial Planners help individuals and families plan for their financial future. The SPACE Matrix Analysis course can provide Financial Planners with the skills and knowledge they need to understand the financial stability of their clients and develop strategies to improve their financial performance. The course covers topics such as financial stability, competitive advantage, environmental stability, and industry attractiveness, which are all important factors for Financial Planners to consider when making recommendations to their clients.

See salaries and explore the career path for Financial Planner

Insurance Agent

Insurance Agents sell insurance policies to individuals and businesses. The SPACE Matrix Analysis course can provide Insurance Agents with the skills and knowledge they need to understand the financial stability of their clients and develop strategies to improve their financial performance. The course covers topics such as financial stability, competitive advantage, environmental stability, and industry attractiveness, which are all important factors for Insurance Agents to consider when making recommendations to their clients.

See salaries and explore the career path for Insurance Agent

Real Estate Agent

Real Estate Agents help individuals and businesses buy and sell property. The SPACE Matrix Analysis course can provide Real Estate Agents with the skills and knowledge they need to understand the financial stability of their clients and develop strategies to improve their financial performance. The course covers topics such as financial stability, competitive advantage, environmental stability, and industry attractiveness, which are all important factors for Real Estate Agents to consider when making recommendations to their clients.

See salaries and explore the career path for Real Estate Agent

Reading list

We've selected 15 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Set Your Right Strategy with SPACE Matrix Analysis.

Strategic Management

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Provides a comprehensive overview of strategic management, covering all the key concepts and topics. It also includes numerous case studies to help you apply what you learn to real-world situations.

Set Your Right Strategy with SPACE Matrix Analysis

Here's a deal for you

What's inside

Syllabus

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Save this course

Reviews summary

Practical space matrix analysis

Activities

Career center

Reading list

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