The Opportunity Sourcing Matrix

Abstract

Strategy Question: How can I prioritize among all the potential opportunities in front of me?

Summary: Many times, managers face the need to make choices from numerous options given imperfect, if not limited information. Often, the decision needs to be made very quickly, if not “now.” It is also the case that there will frequently be more to do than there are resources available. A 9-box sorting matrix, using even qualitative information, is an effective way to arrange options toward making a selection, or narrowing down to two or three options for more detailed investigation. Plot points can be sized, color shaded, or altered in other ways to help add clarity to the decision making. The user is encouraged to modify the sorting criteria to meet their specific situation and need, and other potential sorting combinations are suggested. A 9-box sorting matrix is presented, in this case using “cost” and “benefit” sorting criteria. This tool helps provide a structure to make a decision amongst numerous options. The resulting one-page output can also serve as formal support material in a meeting or presentation situation.

Citation

Fairbanks, S. and Buchko, A. (2018), "The Opportunity Sourcing Matrix", Performance-Based Strategy, Emerald Publishing Limited, Leeds, pp. 233-240. https://doi.org/10.1108/978-1-78743-795-120181020