Strategy Diamond Template
Consider all the elements you need to create an integrated and powerful business strategy using our template for the Strategy Diamond Model.
Trusted by 65M+ users and leading companies
About the Strategy Diamond Template
What is a strategy diamond?
A strategy diamond is a collection of the five elements forming a coherent business strategy. These five elements of strategy include Arenas, Differentiators, Vehicles, Staging, and Economic Logic. This model was developed by strategy researchers Donald Hambrick and James Fredrickson.
To achieve key objectives, every business must assemble a series of strategies. But what elements should you consider when building a strategy? How can you stay ahead of your competitors while also building your brand and bottom line? Using a strategy diamond provides a framework for covering all of these important elements of a strategic plan.
How do you use a strategy diamond?
Completing your own strategy diamond is easy. Miro’s visual collaboration platform is the perfect canvas to create and share this integrated strategy model. Get started by selecting this strategy diamond template.
An effective strategy contains these key elements: Arenas, Differentiators, Vehicles, Staging, and Economic Logic. It’s important to consider each of the five elements in the strategy diamond model below because they are all interrelated and mutually reinforcing.
Arenas: What do we plan to achieve? What is the nature of our products, services, distribution channels, and market segments? What geographic areas do we plan to expand into? What technologies will we use?
Differentiators: What sets us apart from our competition? Is it an image, price, product dependability, and how quickly we get our product to the marketplace? How will we win the marketplace?
Vehicles: How will we get there? Will we get there through strategic alliances? Development? Licensing?
Staging: How will we advance our product or positioning? How quickly will we move? In what order we will move forward?
Economic logic: How will we obtain our returns? Will this be achieved by lowering costs to give value for the price? Providing premium services for premium pricing?
What are the advantages of using a strategy diamond?
Most strategic plans focus on just one or two of these elements, creating gaps that might cause problems for your business later on. A strategy diamond can help you stay focused and ensure you’re fulfilling all of your business’s needs rather than one or two.
When to use the strategy diamond model
A strategy diamond is designed to help you consider the most important questions you’ll need to answer when your team defines your business strategy. Organizing the strategy as a whole – so that each part integrates with the others – helps you figure out your business’s goals and the best way to achieve them.
What is the purpose of the strategy diamond?
The Strategy Diamond Model was developed by strategy researchers, Donald Hambrick and James Fredrickson. This framework helps companies and teams assess all the interrelated aspects of forming a cohesive strategy.
What are the five elements of the strategy diamond?
The five elements of the Strategy Diamond Model include Arenas, Differentiators, Vehicles, Staging, and Economic Logic. These five aspects are related to choices that companies, businesses, and teams must make when defining and refining strategies.
Get started with this template right now.
Work Breakdown Structure Template
Works best for:
Project Management, Mapping, Workflows
A work breakdown is a project management tool that lays out everything you must accomplish to complete a project. It organizes these tasks into multiple levels and displays each element graphically. Creating a work breakdown is a deliverable-based approach, meaning you’ll end up with a detailed project plan of the deliverables you must create to finish the job. Create a Work Breakdown Structure when you need to deconstruct your team's work into smaller, well-defined elements to make it more manageable.
Project Scope Template
Works best for:
Project Management, Decision Making, Project Planning
A project scope helps you plan and confirm your project’s goals, deliverables, features, functions, tasks, costs, and deadlines. A project manager and team should develop a project scope as early as possible, as it will directly influence both the schedule and cost of a project as it progresses. Though project scopes will vary depending on your team and objectives, they generally include goals, requirements, major deliverables, assumptions, and constraints. Aim to include the whole team when you create a project scope to ensure everyone is aligned on responsibilities and deadlines.
Product Market Fit Board
Works best for:
Product Management, Planning
The Product Market Fit Board template helps product teams assess and validate product-market fit. By capturing user feedback, analyzing market trends, and tracking key metrics, this template enables teams to evaluate product-market alignment objectively. With sections for defining target segments, identifying pain points, and prioritizing features, it guides teams through the process of optimizing product-market fit. This template serves as a tool for iteratively refining products to meet customer needs and drive market success.
Epic & Feature Roadmap Planning
Epic & Feature Roadmap Planning template facilitates the breakdown of large-scale initiatives into manageable features and tasks. It helps teams prioritize development efforts based on business impact and strategic objectives. By visualizing the relationship between epics and features, teams can effectively plan releases and ensure alignment with overall project goals and timelines.
Communication Roadmap
Works best for:
Roadmap, Mapping, Planning
The Communication Roadmap template enables teams to plan and execute effective communication strategies. By outlining key messages, channels, and stakeholders, teams can ensure consistent and targeted communication throughout a project lifecycle. This template fosters alignment and transparency, enabling teams to engage stakeholders effectively and mitigate risks associated with miscommunication.
Lean Canvas Template
Works best for:
Agile Methodology, Strategic Planning, Agile Workflows
Business opportunities can get dense, cumbersome, and complex, and evaluating them can be a real challenge. Let a lean canvas streamline things and break down your business idea for you and your team. A great tool or entrepreneurs and emerging businesses, this one-page business model gives you an easy, high-level view of your idea — so you can stay focused on overall strategy, identify potential threats and opportunities, and brainstorm the various factors at play in determining your potential profitability in an industry.