The 4 Ps
The 4 Ps are four elements that are essential to be considered when evaluating or analyzing a business situation. These elements help structure the analysis, evaluation, and decision-making process within the business context
Models
Models
PESTEL
PESTEL is an analytical framework that looks at external factors of a business from a macro-level view.
The 3 Cs
The 3 Cs model is used to examine both internal and external factors that contribute to the success of a company. The external factors are the competitors in the same industry, but it is also the customers and how they react to what the company is doing. The internal aspect is the company itself, including employees and stakeholders. It can be used in combination with other models in order to gain a deeper understanding of the company you are working on.
VRIO Framework
The VRIO framework used in strategic management to evaluate the competitive advantage of a company’s resources and capabilities. VRIO stands for Value, Rarity, Imitability, and Organization. Each of these dimensions is assessed to determine whether a particular resource or capability can provide a sustained competitive advantage.
The 80/20 Rule
The 80/20 rule is a method of analysis in business or management that looks at cause and effect relationships in the outcomes of a company’s decisions. These outcomes are used to optimize business strategy and efficiency.
Business Model Canvas
The Business Model Canvas is a strategic management tool that helps us visualize and describe the key aspects of a business model. It provides a structured framework for understanding how a business creates, delivers, and captures value.
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Failure Mode & Effects Analysis (FMEA)
FMEA is an approach that identifies all possible failures in a design, manufacturing, or assembly process. Modes refer to the ways something can fail, while the effects analysis studies the consequences of those failures.
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SWOT Analysis
The SWOT Analysis is a strategic planning tool used by businesses to assess their internal strengths and weaknesses, and their external opportunities and threats. It aids students in analyzing companies from both internal and external viewpoints, enabling identification of areas for improvement, growth, and contingency planning.
Stakeholder Analysis
A Stakeholder Analysis is a valuable tool that helps businesses understand the interests and motivations of those involved in their operations. By analyzing stakeholders’ power, influence, and interests, businesses can develop strategies to meet their needs and build stronger relationships. In this article, we will explore what Stakeholder Analysis is, its goals, how to use it effectively, and provide a real-life example of its application.
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Low Hanging Fruit
Finding the quickest and easiest way to make improvements can have a significant impact on your bottom line. By identifying the most accessible and impactful opportunities for improvement, this model helps businesses make effective decisions and optimize their operations.