11. Which one of the following best replaces “formulated” while maintaining the meaning of the sentence?
The BCG (Boston Consulting Group) growth-share matrix is a chart formulated by Bruce Henderson for the Boston Consulting Group in order aid organisations with their analysis of services and products. This chart is designed to help companies allocate resources by plotting where products or services rank on market-growth and relative market share. Products and services with high growth-high market share are referred to as "stars" and require further investment. Low market growth-high market share products are "cash cows", reliable sources of income. Low market share-low growth products are referred to as "dogs" and require de-vestment. Finally high market growth-low market share products are "question marks", requiring in-depth analysis before further investment.