Igor Ansoff’s 1965 text, Corporate Strategy: An Analytic Approach to Business Policy for Growth and Expansion
Ansoff was the first to argue that strategy should be a formal, periodic management task. ansoff 1965 corporate strategy pdf
As John continued to analyze the matrix, he became intrigued by the product development quadrant. What if XYZ Inc. could develop new products to sell to its existing customers? He thought, "Our customers trust our brand, and we're already familiar with their needs. We could create new appliances that are more energy-efficient, compact, or feature-rich." Igor Ansoff’s 1965 text, Corporate Strategy: An Analytic
Often called the "Father of Strategic Management," Ansoff moved business thinking away from simple "budgeting" and toward a proactive, scientific method for long-term growth. The Core Concept: The Ansoff Matrix could develop new products to sell to its existing customers
Finally, John considered the diversification quadrant, which involved entering new markets with new products. He thought, "This would be a high-risk strategy, but it could also offer the greatest rewards. What if we could leverage our expertise in home appliances to enter completely new industries, such as industrial equipment or even technology?"