What is a 2 X 2 Matrix, and what are best practices, tools and online templates for teams and organizations?
Definition of 2 X 2 Matrix
A 2×2 Matrix is a tool that can be used to think about the relationships between two different variables. In business strategy, two variables are typically selected that intersect that allow for an understanding of four unique dimensions related to each quadrant of the related 2×2 Matrix.
Description of 2 X 2 Matrix
In order to create a 2×2 Matrix, pick a number of different combinations of variables and dimensions to discuss and explore (e.g., business impact, cost, quality, ease of implementation, etc.). When focused on strategy or innovation, for example, you might create a 2×2 with “business impact” and “ease of implementation” as the variables (axes). Then, plot various products or services onto the 2×2, ideally forcing a distribution. Next, determine where relationships between the two dimensions lie by observing the characteristics of the groups that begin to form. Discussions can be spurred by considering what quadrants are empty or full and why, what quadrants were expected to fill up but didn’t, etc. Doing this will illuminate why the two dimensions are or are not related and valuable to contrast as the axes of the 2×2. In many cases, discussions based on the matrix are more valuable than the matrix itself and can act as the basis for the next variables to be tested within the 2×2.
Tools & Templates
The tools used for creating a 2×2 Matrix are typically spreadsheets, presentations or other documents.
upBOARD's Online 2 X 2 Matrix Tools & Templates
Unlike most traditional 2×2 Matrix templates, upBOARD’s online 2×2 Matrix tools allow any team or organization to instantly begin working with our web input forms. Our digital platform goes far beyond other software tools by including progress dashboards, data integration from existing documents or other SaaS software, elegant intuitive designs, and full access on any desktop or mobile device.
Learn more about upBOARD’s portfolio of other business strategy best practice tools and templates, including:
2 X 2 Matrix, ADL Matrix, Affinity Diagrams, Baker’s 4 Strategies of Influence, Balanced Scorecard, Benchmarking, Blue Ocean Strategy, Bowman Strategy Clock, Build-Measure-Learn Feedback Loop, Business Model Canvas, CAGE Distance Framework, Competitive Analysis, Competitive Landscape Analysis, Contingency Planning, Core Competence Analysis, Critical Success Factors, Discovery Driven Planning, Economic Value Added, First Mover Advantage, Five Forces Model, Force Field Analysis, Gap Analysis, GE McKinsey 9-Box Matrix, Go To Market Strategy, Hambrick & Frederickson’s Strategy Diamond, Hedgehog Model, Hook Model of Behavioral Design, Hoshin Planning System, Kay’s Distinctive Capabilities Framework, Key Outcome Indicators, Kotler’s Five Product Levels Model, Kotler’s Pricing Strategies, Lafley & Martin’s Five Step Strategy Model, McKinsey 7S Model, McKinsey’s Seven Degrees of Freedom for Growth, Mergers & Acquisitions, Mission Statements, Mullin’s Seven Domains Model, OGSM Framework, Ohmae’s 3-C’s Model, Partner Relationship Management, PEST Analysis, PESTLE Analysis, Porter’s Diamond, Portfolio Management, Purpose Statements, Pyramid of Purpose, Scenario Planning, Simonson & Rosen’s Influence Mix, SMART Performance Metrics, SMARTER Goals, SOAR, Strategic Goals, Strategy Map, Strategy Roadmap, Strategy Uncertainty Map, SWOT Analysis, TOWS Matrix, Triple Bottom Line, USP Analysis, Value Chain Analysis, Value Disciplines Model, Value Net Model, Values Statement, Vision Statements, VRIO Analysis, and Weisbord’s Six-Box Model.