The IE and the BCG Matrices

It is always a vital thing for people especially the leaders to be fully updated with the information regarding their work place. This therefore explains the importance of the knowledge of various tools of analysis which have always been applied to not analyze the working conditions but also understand the strategic positioning of a business. In this case, a comparison shall be made between two famous matrices which have been popularly used as tools of analysis. They include the IE and the BCG matrices (Bealey, 2009).

The Internal External matrix is usually based on an analysis of both the internal and the external components in a given business. The analyzed factors are then combined in order to come up with one suggestive model. The IE matrix can be considered somehow similar to the BCG matrix due to a number of common attributes (Eckholm 2008). For instance just like the BCG the IE matrix also positions an organization into a matrix comprising nine cells.

However, there are numerous differences between the two types of matrices. The IE matrix gets to measure different values on its axes while the BCG matrix strictly measures market growth and market share. Secondly, the IE matrix measures a calculated value. This value captures a group of external as well as internal factors. Consequently, the IE matrix requires more information as compared to the BCGG matrix. The values for each axis in the BCG matrix are single factor. However, in the IE matrix values for each axis are usually multifactor figures.

In response to the second question, one can put down the fact that the politicians have since applied different approaches. All these have always been aimed at achieving an analysis of their progress, trends of the followers, progress with the projects and responsibilities. One of the most common methods is situational analysis. This involves an analysis of a given situation by comparing a given number of factors against each other in order to derive the relationship between them. An example may include comparing the rate of employment with the rate of development in a given region. This are therefore some of the simple ideas used by the politicians which can as well be employed by strategist in a bid to achieve the same purpose.

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