Strategy Diamond
Visual Tool to Evaluate Business Strategy
Improve your strategic growth by understanding how key areas of your business interact.
- Analyze key areas of your business and identify areas that need improvement
- Collaboration tools to ideate, devise and improve strategies with your team
- Share strategy guides as images or documents on your favorite platforms
- Analyze key areas of your business and identify areas that need improvement
- Collaboration tools to ideate, devise and improve strategies with your team
- Share strategy guides as images or documents on your favorite platforms
Conduct Comprehensive Strategy Analysis
Multiple strategy diamond frameworks to analyze the five major elements of business strategy.
Import data from multiple sources to conduct multivariate business analysis and devise effective business strategies.
Smart shapes and connectors to visualize and identify relationships between key areas of your business.
Powerful styling options and text formatting capabilities to highlight important points and easily address issues.
Deliver Effective Growth Strategies
Virtual whiteboard with built-in diagramming to easily conduct structured brainstorming sessions.
Freehand drawing to visualize and build on your ideas, concepts, and plans without any constraint.
Add detailed docs, attachments, links and more via the notes feature on each element to capture details and the big picture in a single space.
Identify Key Insights and Work Together to Develop Strategies
Video conference baked into the platform itself to get instant feedback and diverse opinions from your colleagues virtually from anywhere.
Real-time cursors for any number of participants. Work with teams on a shared canvas.
Comment with context, have discussions and follow-ups on the same canvas. Async!
Create An Executable Plan to Achieve Business Strategy
Multiple access levels and roles to streamline managing, sharing, editing, and reviewing your plans and strategies.
Multiple app integrations to help you import and export data across teams on different platforms.
Export Guides and Tactics as SVGs, PDFs, JPEGs, and PNGs to publish, present, print, or share.
What Is the Strategy Diamond?
The strategy diamond is a tool that helps visualize, summarize, analyze and communicate your business or product strategy. It helps understand the various parts of a strategy and how they fit together. It was developed by Donald Hambrick and James Fredrickson.
How to Use the Strategy Diamond | Five Elements of Strategy
- The strategy diamond poses 5 questions that you should answer to ensure that you will develop a better strategy. They will help you see where you should improve in your strategy.
- The first question requires you to answer where you will be active. Here the areas you should focus on are the product categories you’ll compete in, the channels you will use, the target market, geographies, etc.
- The second question you need to walk through is how you will get there. These vehicles could be joint ventures, internal development, acquisitions, etc.
- Understand what the differentiators are. Here you should identify how you are different from that of your competitors, your USP, prices & quality of your products and factors that will help you stand out.
- In the third stage of the strategy diamond, where you should focus on staging or what you want to do, you need to figure out what sequence of steps you should take and at what speed you should take these steps.
- In economic logic, the final stage of the strategic diamond, you should focus on how profit will be generated. In this step, you should summarize how the other four elements work together to maximize profits.
You can use Creately strategy diamond templates to start brainstorming around these elements with your team right away. Control edit or review rights of your diagram when you share it with stakeholders.