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What are some key differences between BCG and IE portfolio matrices? Please consider an industry in which you have worked, are working in, or would like to work in when addressing the questions.

BCG portfolio Matrix, also known as the Boston Consulting Group growth share matrix is a growth share model representing growth of business and the market share enjoyed by a business organization. The matrix is usually adopted by large corporations to decide the ratio in which resources are allocated among various business segments. On the other hand, the Internal-External matrix (IE), positions an organization's various divisions or segments in the form of a nine cell display (David, David & David, 2020).Although the BCG and IE matrices have much in common, they also have key differences. One of the differences is that while the BCG is used to measure business conditions based on the strong or weak market positions on the axis and low or high industry growth on the axis, IE matrix evaluates internal aspect score on the X-axis and the external factor score on the Y-axis and hence, the axes of both matrices are different. Another difference is that the BCG matrix is simpler compared to the IE matrix because the former is easier to draw and interpret as it consists of only 4 cells while the latter consists of nice cells. While the BCG portfolio matrix represents two degrees of market growth and market share, the IE matrix is three dimensional that consists of the degree of business growth as either strong, average, or weak and industrial attractiveness as either high, low, or medium.

I worked for a pharmaceutical company that supplied a lot of medical equipment and drugs to healthcare facilities. They had adopted the BCG portfolio matrix to determine where to allocate resources.