The Excel SPACE Matrix template allows you to easily and quickly develop a great looking SPACE Matrix Chart for your organisation.
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What is the SPACE matrix strategic management method?
The SPACE matrix is a strategic planning tool that can be used to determine what type of a strategy assessment the organization should undertake.
The term SPACE matrix is derived from Strategic Position & ACtion Evaluation matrix and it focuses on strategy formulation especially as related to the competitive position of an organization.
The SPACE matrix helps to define the overall macro strategy. Should the overall strategy theme be aggressive or conservative? Other options include strategies focused on being defensive or competitive.
The SPACE matrix strategy outcome can be used as a basis for other analyses, such as the PEST analysis, SWOT analysis, BCG matrix model, Ansoff or GE-McKinsey models for which we have a comprehensive portfolio of Strategic Planning templates .
The SPACE matrix method breaks the matrix chart down into four quadrants (see image below) where each quadrant suggests a different type of a strategy depending on which quadrant the outcome of the analysis places the organization in.
How to create a SPACE Matrix in Excel?
The SPACE Matrix analysis framework incorporates two internal and two external strategic dimensions in order to determine the organization's strategic positioning in the industry.
An internal strategic dimension score and an external strategic dimension score are calculated.
These are then plotted on the matrix chart to suggest the most appropriate strategy.
The internal dimension is based on the analyses of two areas.
Internal strategic dimensions:
- Financial strength (FS)
- Competitive advantage (CA)
The scores for the two areas are added to give a give an internal strategic dimension score.
The external dimension is based on the analyses of two areas.
External strategic dimensions:
- Environmental stability (ES)
- Industry strength (IS)
The scores for the two areas are added to give an external strategic dimension score.
A number of factors that contribute to each of the four areas are identified, e.g. Product quality, market share, distribution channels might all contribute to Competitive Advantage (CA)
You choose the Internal and External factors that you wish to take into account to generate the SPACE matrix and rate each factor.
The ratings for these factors are used to automatically calculate and plot the SPACE matrix.
Each factor is rated on a scale of 1 to 6 as follows:
- Competitive Advantage factors from – 6 worst to -1 best
- Industrial Strength factors from +1 worst to +6 best
- Environmental Stability factors from – 6 worst to -1 best
- Financial Strength factors from +1 worst to +6 best.
The average for all Competitive Advantage (CA) factors is then calculated to give a CA score
The average for all Industrial Strength (IS) factors is then calculated to give a IS score
The average for all Environmental Stability (ES) factors is then calculated to give a ES score
The average for all Financial Strength (FS) factors is then calculated to give a FS score.
The Competitive Advantage (CA) score is added to the Industrial Strength (IS) score to give the total X-axis score
The Financial Strength (FS) score is added to the Environmental Stability (ES) score to give the total Y-axis score.
The SPACE matrix is automatically generated, showing the point of intersection of the X-Y scores.
The quadrant that the point of intersection is in will suggest which of the following strategic approaches are most appropriate:
- Aggressive Conservative
Other Strategic Analysis/Planning Products
We have an extensive range of other Strategic Analysis and Planning templates to complement the SPACE Matrix Excel Template
Alternatively order the combined Excel, PowerPoint and Word SWOT package and get 30% discount
Check out our Strategic Planning Workbook
We also provide General Electric GE McKinsey Matrix templates which you can use to generate a GE-McKinsey Matrix to depict the result of a business portfolio analysis.
Our Boston Consulting Group (BCG) Growth Share Matrix Templates can be used to generate a BCG Growth-Share Matrix.
Our Strategic Planning Templates Package (includes SWOT, BCG and GE-McKinsey templates) and get up to 50% discount!
A PEST Analysis template is also available as a standalone item or packaged with the SWOT analysis template.
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