Strategic Growth Opportunity Areas
Strategic Growth Opportunity Areas (SGOAs) are large, strategically attractive areas to look for profitable growth. SGOAs can come from a variety of sources, and can include new products, brand extensions, new channels, acquisitions and other initiatives. Strategic Growth Opportunity Areas should be documented in a consistent manner to allow them to be evaluated and prioritized for additional consideration.
Here is a review of potential sources and a sample SGOA write-up:
Strategic opportunities describe the growth area with a focus on customer needs and benefits sought
Strategic Growth Opportunity Area Issues
- What is the full set alternative strategic growth opportunity areas to consider (drawing on strategic direction setting and focused ideation)?
- What benefits (both internal and external) does each SGOA offer?
- Which of these are judged to be most attractive? How do the SGOAs pass various screens, across strategic, customer and financial/operational screens?
- Can an initial business case be made to demonstrate market success potential?
Strategic Growth Opportunity Area Approach
- Once SGOAs have initially been established and documented, interim screening is performed to narrow the list.
- As the SGOA progresses from strategic area, to focused ideation, to specific business concepts, additional screens are used to ensure strategic, operational and customer requirements are met.