Essential Business Skills for Designers -Part 2

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In the Part 1 of this article I discussed about Time to Value and Prioritization Model.

3. BCG Matrix

The Boston Consulting Group (BCG) Matrix is a powerful tool for portfolio management that categorizes a company’s products or business units based on market growth and relative market share. The matrix consists of four quadrants: Stars, Cash Cows, Question Marks, and Dogs.

• Stars are high-growth products with a significant market share and require substantial investment to maintain their position.
• Cash Cows are established products that generate steady cash flow but have low growth potential.
• Question Marks are in high-growth markets but lack a strong market share, requiring strategic decisions to either invest or divest.
• Dogs are low-growth, low-market-share products that may drain resources.

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Example: Apple’s Product Portfolio and the Role of Design

Apple uses its portfolio of products strategically, and the BCG Matrix can help explain where each product stands:

• Stars: The iPhone, with…