More Strategy Diamond Templates and Examples

Strategy Diamond

Strategy Diamond

Strategy Diamond Template

Strategy Diamond Template

SWOT Analysis for Strategic Planning

SWOT Analysis for Strategic Planning

Product Roadmap Template

Product Roadmap Template

Action Plan Template

Action Plan Template

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Guide and Best Practices

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.

More templates and visual ideas for strategic planning

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Risk Matrix 3x3

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Business Contingency Plan

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