Strategy - The Boston Consulting Group's Growth/Share Matrix

Strategy models or frameworks have been around for a while. And we will now take some time to review some of these so that we learn some valuable lessons from each model/framework.

The Boston Consulting Group developed the matrix which is presented below in the 1960s. Its appeal is/was its simplicity as it (supposedly) took guess work out of strategy.

To use the matrix to determine strategy, all one had to do was to plot the business according to the two dimensions - Industry Growth Rate and Relative Market Share. That done, decisions could then be made about how to allocate resources.

To allocate resources or to decide whether to grow or exist the business, the C-Suite will review the following;

1. STARS - Businesses in the upper-left quadrant are designated stars and are characterized by high market share in high growth market segments. If they also enjoyed high profit margins and strong cash generation, they would be winners hands down.
2. CASH COWS - With high market share but in low growth market segments, these business would be mature business with strong cash generation. 
3. QUESTION MARKS - Businesses in high growth market segments but with low market share present the C-Suite with a number of problems. If cash is available, it could be used to grow the market share so that the business is turned into a star. On the other hand the business could also end up as a 'dog' and should be existed.
4. DOGS - Businesses classified as dogs have low market share and operated in low growth market segments. The logical decision is to sell them off or allow them to die.

    The question is, is this model still relevant? If not is there anything we can borrow from it?