A new tool for strategy analysis: the opportunity model

Abstract

Purpose

To streamline the process of opportunity recognition and make it more effective by clarifying the meaning of opportunity and making its elements explicit.

Design/methodology/approach

Clarifying opportunity is effected by providing a model and illustrating its effectiveness through application to examples and to SWOT (strengths, weaknesses, opportunities and threats) analysis.

Findings

Provides support for the practical benefits of applying an explicit model for recognizing opportunity.

Originality/value

The model facilitates opportunity recognition by encouraging avoidance of common dead ends, including mistaking catalysts for opportunities, associating opportunities with negative conditions, equating options with opportunities and the circular process of defining opportunities in terms of strengths and weaknesses.

Citation

Morris, D. (2005), "A new tool for strategy analysis: the opportunity model", Journal of Business Strategy, Vol. 26 No. 3, pp. 50-56. https://doi.org/10.1108/02756660510597100