The Ansoff Matrix was developed by H. Igor Ansoff and first published in the Harvard Business Review in 1957, in an article titled "Strategies for Diversification." It has given generations of marketers and business leaders a quick and simple way to think about the risks of growth.
Sometimes called the Product/Market Expansion Grid, the Matrix (see Figure 1, below) shows four strategies you can use to grow. It also helps you analyze the risks associated with each one. The idea is that, each time you move into a new quadrant (horizontally or vertically), risk increases.
Figure 1: The Ansoff Matrix
Ansoff Matrix Diagram
You can also use the Ansoff Matrix as a personal career planning tool. It can help you weigh up the risks of your career decisions, and choose the best option as a result. Learn more about this with our article on the Personal Ansoff Matrix