Top 7 Business Frameworks to Know

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!

Business Frameworks

Business Frameworks

GE McKinsey Matrix

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.

First Mover Advantage

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.

Triple Bottom Line

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.

Gap Analysis

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.

Fishbone Diagram

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.

McKinsey 7s: Organizational Design Assessment

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.

BCG Growth Share Matrix

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.

Conclusion

We hope you found these business frameworks articles informative. Write to us for corporate training on how to apply business frameworks effectively within your organization. We have an expert team of ex-consultants that will work to improve the speed-to-solution for your executive team.

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