SPACE Analysis or the SPACE Matrix with an example - Simplest Explanation Ever

The video tutorial introduces Space Analysis, a strategic management tool similar to SWOT analysis. It explains the Space Matrix, which uses X and Y axes to evaluate internal and external factors affecting a business. The tutorial details how to score and plot these factors, resulting in a quadrilateral that indicates a strategic position within one of four quadrants. Each quadrant represents a different strategic stance: aggressive, conservative, defensive, or competitive. The tutorial emphasizes the importance of identifying the dominant quadrant to guide strategic decisions.

What does SPACE stand for in the context of space analysis?

How does space analysis help businesses?

What are the factors plotted on the X and Y axes of the space matrix?

What is the significance of the ratings on the axes in space analysis?

What factors influence industry attractiveness?

Explain the concept of competitive advantage in the context of space analysis.

What is the process for plotting scores on the space matrix?

Describe the characteristics of the first quadrant in the space matrix.

What should a company do if it finds itself in the third quadrant?

How can a company improve its position if it is in the fourth quadrant?