Most common frameworks, methods, and tools for tackling Business and Strategy
Often times, whenever I work on solving business problems I need to do a lot of research and collect data related to that business acumen first. Then, I would be needing more tools (or ready-made templates) to follow and refine again and again until I solve.
Some of the most used and very helpful during those exercises are:-
PESTLE Analysis to come up with the external factors to your business domain https://strategicmanagementinsight.com/tools/pest-pestel-analysis.html
Porter's Five Forces to come up with intensity of competition https://strategicmanagementinsight.com/tools/porters-five-forces.html
Benchmarking to compare inside and outside of other performing products or service offerings in the business domain https://strategicmanagementinsight.com/tools/benchmarking.html
Competitive Profile Matrix (CPM) to compare with your competitors and show strengths and weaknesses https://strategicmanagementinsight.com/tools/competitive-profile-matrix-cpm.html
GE McKinsey Matrix to let you know where or which one to invest in among multiple businesses portfolio https://strategicmanagementinsight.com/tools/ge-mckinsey-matrix.html
SWOT Analysis is to identify what are the strengths and weaknesses and their opportunities along with the threats https://strategicmanagementinsight.com/tools/swot-analysis-how-to-do-it.html
VRIO Framework to come up with the sustained competitive advantage and their unique selling propositions https://strategicmanagementinsight.com/tools/vrio.html
McKinsey 7s Model is a tool to do analyze a firm’s organizational design by looking at 7 key internal elements: strategy, structure, systems, shared values, style, staff, and skills, in order to identify if they are effectively aligned and allow the organization to achieve its objectives or not https://strategicmanagementinsight.com/tools/mckinsey-7s-model-framework.html
Business Model Canvas for creating new business models and opportunities https://www.strategyzer.com/canvas/business-model-canvas and https://canvanizer.com/choose/business-model-canvases
The Value Proposition Canvas to create customer profiles, the value that you create with your business, and achieve the product-market fit https://www.strategyzer.com/canvas/value-proposition-canvas
The NABC value proposition to come up with Needs, Approach, Benefits, and Competition https://www.innovationcanvas.ktn-uk.org/resources/value-proposition-nabc and https://web.stanford.edu/class/educ303x/wiki-old/uploads/Main/SRI_NABC.doc
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