Frameworks play an important role in helping consultants and business leaders approach organizational problems from different angles. They provide structure that inform day-to-day operational decisions and strategy. They do this both on a micro and macro level. Business frameworks aid businesses in meeting goals and reaching objectives that lead to long-term success. To help you get started on this journey of understanding – and applying – top business frameworks, we’ve complied a list of the top 7 business frameworks in article form below. Happy problem solving!
The GE McKinsey Matrix is a tool used to help organizations maximize profitability by knowing where to prioritize investments among business units. The matrix offers a perspective that helps firms know where to invest and where to pull back.
The First Mover Advantage framework refers to the competitive edge a company obtains when it is first to market with a new product or service. Companies have the potential of building strong brand loyalty and recognition when employing first mover advantage.
The Triple Bottom Line framework expands the bottom line focus for companies beyond just profit to include sustainability. The three different kinds of bottom line emphasized in this framework are People, Planet, and Profit.
The gap analysis framework helps businesses close the gap between their current operational state and stated goals/objectives. Gap analysis provides a roadmap for an organization to align its future goals with current operations.
Also known by other names, the fishbone diagram is a strategy for finding the roots of problems facing an organization, and knowing what to do once they’ve been identified.
The McKinsey 7s is a business framework that helps organizations examine internal areas to determine if they are aligned. This model helps ensure the success of an organization during times of change.
The BCG Growth Share Matrix is a classic framework developed by BCG in the 1970’s ultimately designed to increase a company’s profitability. The matrix helps companies analyze their product portfolios and make decisions on which products to invest in or divest.
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