Strategy Diamond Template
Build a strategy that fits together. The Strategy Diamond guides you through five questions, from where you compete to how you make money.
Free to start · Swiss-made · GDPR compliant
Building a strategy with the Strategy Diamond
The Collaboard template arranges the five elements as overlapping diamonds, with economic logic in the center: red for arenas, purple for vehicles, grey for differentiation, green for staging and blue for economic logic. A deck of colored notes sits next to it, so the team can fill each element directly.
Start with the arenas
Define where the company will be active: markets, customer groups, regions and products.
Choose the vehicles
Decide how to get there, for example through your own growth, partnerships or acquisitions.
Define differentiation
Name what makes customers choose you over competitors, such as price, quality or service.
Plan the staging
Set the order and speed of the steps. What comes first, and what depends on what?
Add the economic logic
Explain how the strategy earns money, for example through lower costs or higher prices.
Check the fit
Look at the diamond as a whole. Do all five elements support each other, or do some contradict?
What is the Strategy Diamond?
The Strategy Diamond by Donald Hambrick and James Fredrickson describes a strategy through five connected elements. It helps teams check whether their strategy is complete and whether its parts fit together, instead of being a collection of separate goals.
The five elements of the template
The examples follow one illustrative scenario: a software company expanding into the healthcare sector.
- Arenas Where will we be active? Example: hospitals in German-speaking countries.
- Vehicles How will we get there? Example: a partnership with an established distributor.
- Differentiation How will we win? Example: local hosting and strict data protection.
- Staging What will be our speed and sequence? Example: a pilot with two hospitals first, then expansion.
- Economic Logic How will we make money? Example: recurring subscription revenue with higher margins.
To assess the starting position before defining the strategy, begin with a SWOT analysis.
Strategy work the diamond is made for
- Strategy development Describe a new strategy completely and consistently.
- Strategy review Check an existing strategy for gaps.
- Growth projects Plan the entry into a new market or segment.
- Management workshops Bring leaders to a shared understanding of the strategy.
Checking that all five elements fit together
- Be concrete in every element Being innovative is not differentiation. Name what customers actually notice.
- Don't skip staging Many strategies fail on order and timing, not on goals.
- Test the economic logic If nobody can explain how the strategy earns money, the diamond isn't finished.
- Look for contradictions Premium differentiation and a low-cost economic logic rarely fit together.
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Frequently asked questions
Is the Strategy Diamond template free?
Yes, the Strategy Diamond template is free to use with a Collaboard account. The free plan includes up to 3 boards and five people per session.
What is the Strategy Diamond?
The Strategy Diamond is a strategy model by Hambrick and Fredrickson with five elements: arenas, vehicles, differentiators, staging and economic logic.
Who developed the Strategy Diamond?
The Strategy Diamond was developed by Donald Hambrick and James Fredrickson, who described it in 2001 in their article Are you sure you have a strategy?
How is the Strategy Diamond different from a SWOT analysis?
A SWOT analysis assesses the current situation, while the Strategy Diamond describes the strategy itself. That's why the two complement each other.
Who should work on the Strategy Diamond?
The Strategy Diamond is usually developed by leadership and strategy teams, ideally with people from different functions to cover all five elements.
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