How to Prioritize Business Growth Opportunities (Ansoff): The ICE Prioritization Tool

Product/Market Grid
Knowledge Center


Next Topic

Product/Market Grid > Forum

Diana Alexandrova, Entrepreneur, United Kingdom
The Ansoff Matrix can be a useful model to generate and communicate business growth opportunities. However, organizations need to keep in mind that there are several factors that might hinder companies to pursue certain strategies, such as the availability of resources and access to resources. Therefore, companies need to evaluate and prioritize potential strategies in a systematic manner. Chaneski (2012) argues that business decisions need to be based on priorities. A helpful tool for setting priorities is the ICE tool. ICE stands for 3 factors that should be considered whenever strategic priorities are set: Impact, Cost and Effort:
  • IMPACT: Impact can be measured in terms of sales growth; cost savings; quality improvement; better customer service and anything that benefits the company.
  • COST: Cost is a critical component when evaluating any growth strategy. With limited funds, companies must make careful choices about where to focus resources. Even the best idea (...) Read more? Sign up for free

Please register now to read all responses and to join this discussion yourself. It's easy and 100% free.

Sign up for free     Log in

  Sascha A. Carlin

Faceted Feature Analysis

The common problem seems to be "how to order activ (...)

  Munadil Shafat, Student (MBA), Bangladesh

How to Prioritize your Projects, Goals or Tasks with the ICE Matrix (Sean Ellis)

In this world full of opportunities, most of us ha (...)

More on Product/Market Grid
🔥Diversification Types and Examples
Be Careful with Benefits of Diversification - Misconceptions and Generalizations
How to Decide in Which Sector to Diversify?
How to Prioritize Business Growth Opportunities (Ansoff): The ICE Prioritization Tool
Best Practices
🥇Ansoff Matrix Applications
🥈Turbulence, Planning and Paralysis
🥉Summary of STRATOP Model
Diversification and Globalisation
Product/Market Growth Matrix, Product Market Combination (PMC), PMG
Strategies for Expanding a Business
Ansoff Matrix for Marketing Strategy
What is the Optimal Level of Diversification for Firm Performance?
Diversification in Africa: Why African Economies must Diversify
Special Interest Group Leader

Are you an expert in Product/Market Grid? Sign up for free

Product/Market Grid
Knowledge Center


Next Topic

About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2020 12manage - The Executive Fast Track. V15.6 - Last updated: 22-10-2020. All names of their owners.