Each alternative poses differing levels of risk for an organization.
: 114 He describes four growth alternatives for growing an organization in existing or new markets, with existing or new products. It is named after Russian American Igor Ansoff, an applied mathematician and business manager, who created the concept.Īnsoff, in his 1957 paper, Strategies for Diversification, provided a definition for product-market strategy as 'a joint statement of a product line and the corresponding set of missions which the products are designed to fulfill'. The Ansoff matrix is a strategic planning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future business growth.
