Process Management – Business Process Management – BPM – Process Management Diagram – Business Process Management model is a stream within business management that focuses on the management of company’s processes. Essentially, BPM views a business through the eyes of the process, i.e. all activities are processes in one way or another.
Process Management is about active control of the business activities and involves process mapping, KPI and metrics identification, end-to-end view and oversight. The key process management steps include process design, process implementation, process enactment and diagnosis (analysis)
Team Formation – Group Formation – Team Formation Framework – Group Formation Diagram – Team Formation model is a business framework that identifies stages of group formation. The four stages of team formation are Forming, Storming, Norming and Performing. Each team goes through these stages in the life of a project. The faster the team can go through them, the more effective and efficient the team performance will be.
Forming is about socializing and questioning. Storming is group’s experience of conflict and resistance. Norming is a stage of conflict resolution. Performing stage is when the team has successfully formed and is fully delivering.
Kaizen A3 – Kaizen A3 Analysis – Kaizen One Page Problem Solving Tool – Kaizen problem solving tool – Kaizen template – Kaizen A3 Framework – Kaizen A3 is a lean six sigma problem solving tool, which allows to quickly identify the problem, analyze the issues and provide recommendations and action plan with identified owners.
This Lean Six Sigma A3 method was designed as a workshop tool, allowing a work group to stay focused on the problem. Usually, within a span of a day, often within 3 hours, a team can work through a difficult problem and come up with an actionable list of recommendations. All of this fits into 1 page, hence the name – A3.
Marketing Plan – Marketing Plan Template – Marketing Plan Sample – Marketing Plan is a document outlining company’s plans and course of action regarding advertising and product promotion. The plan usually addresses each of the components of the 4Ps of marketing, specifying what the place, promotion, price for a given product will be.
Below is a sample marketing plan template that identifies different channels for a real estate company advertising including internet marketing, direct mail, open houses (i.e. physical advertising) and other channels. Marketing plans also include specifics on how each of the channels will help promote the product.
Four Ps – 4 Ps – Four Ps Analysis – Four Ps Marketing – Four Ps Framework – 4 Ps, also known as Marketing Mix, is a business methodology that summarizes four key marketing components of a product or service offering.
The four parts of the framework are product, price, place and promotion. Product refers to the features of the product service. Price is the cost to the consumer as well as time and effort. Place is the location of sale / provision of service. Promotion is how the product is advertised and delivered to the consumer.
End-To-End Process – End-To-End Process Analysis – End-To-End Process Framework – The end to end process refers to all activities and sub processes required to complete a certain task or a job start to finish. Usually end-to-end processes involve a number of siloed groups with the product or service being transferred from one group to another.
The reason why we want to view processes on end-to-end basis is because we need to recognize that from the point of view of the customer or the overall company, the process needs to be managed / enhanced start to finish. In the past, siloed groups only managed their part of the process, which resulted in duplication of effort, redundancies and limited strategic view. The processes need to be supported with end-to-end metrics such as the total cycle time required to complete a job.
Recruitment Process – HR Recruitment – Recruitment Process Analysis – Recruitment Process Framework – A standard recruitment process within an organization allows for an effective and efficient hiring of candidates including employee onboarding. Hiring of individuals and broader talent management are key parts of company’s HR strategy.
Recruitment HR processes include position assessment, data base search, advertisement of roles, short listing, interviewing, sharing final shortlists, conducting final interviews, negotiating offers, arranging on-boarding, keeping backup candidates. The hiring processes are usually conducted by Recruitment officers, part of a Recruitment Centre of Excellence (COE).
7 Wastes – Seven Wastes – 7 Wastes of Lean – This lean six sigma methodology (also known as 8 wastes) helps identify waste and other types of issues in the workplace. The 7 wastes framework includes defects, transportation, inventory, overprocessing, movement, overproduction and waiting.
Defects are wasted products completed not right the first time around. Inventory and overproduction are excessive quantities of raw materials or finished products. Transportation and movement are unnecessary movement of things or people. Overprocessing is making the product beyond customer expectations and waiting is simply waiting for materials, preventing timely completion of products. 7 Wastes Analysis – 7 Wastes Framework
Marketing mix is a fundamental business tool that outlines the four key components of any product or service: product, price, promotion and place. Acting as a short-cut, the marketing mix allows marketers to easier envision an optimal brand’s offering. The framework was originally coined in the 1960’s by a marketer by the name of E. Jerome McCarthy and since then became popular and has been used throughout the world.
This category includes a wide range of offerings. In fact, a product or a service can be anything that satisfies a customer demand, whether tangible or intangible. For example, a car, a disposable razor or a software program – all fall under the tangible category. In order to create value for customers and the firm, marketers need to make decisions about the product, such as: brand, size, quality, features, packaging, warranty, etc. Once these key product characteristics have been identified, the marketing team can then move on to determining the price of the offering.A service, on the other hand, usually falls under an intangible category, such as a technical support experience, a haircut or a plane flight.
Price is a crucial component of the marketing mix for two reasons. First, it is a major determinant of the company’s profit and therefore company’s success on the market. Secondly, it affects how valuable the customer finds the product or service. On the one hand, the less the customer has to give up in order to receive something, the more valuable he or she will perceive it to be. On the other hand, certain luxury goods and services (e.g. a high-end car, a business class flight, a designer dress, etc.) are sometimes perceived as more valuable as a result of their higher price.Aside from money, price also includes other things a customer is willing to give up in return for the product or services, such as time and effort.
From the marketer’s perspective, determining the price could also involve determining the following: discounts, allowances, costs, payment periods and credit terms.
Promotion includes providing information and communicating value to potential customers. Such communication can be used to persuade and remind potential customers, influence and enhance their opinion of product or service, as well as elicit a response. The multiple methods of promotion include: advertising, public relations, sales promotion, celebrity endorsements, product placement and word-of-mouth. Marketers task is to determine which method(s) better suits the target audience.
Of the 4P’s of the Marketing Mix, place is an often undervalued component. However, place refers to the distribution of goods or services from the manufacturer/provider to the consumer. This process includes multiple stakeholders and therefore involves higher risk. A few examples of such intermediate agencies are: marketing channels, retailer locations, supply chain, etc. Therefore, it is crucial to create a well-functioning logistics, so that the product or service is delivered on time and conveniently for the customer. To do that a mix of strategies like intensive distribution, selective distribution, exclusive distribution and franchising can be used.
Project Priority Matrix – Project Priority Matrix Analysis – Project Priority Matrix Framework – Business are often facing a number of competing projects. Prioritizing between projects becomes essential in order to maximize benefits for a company.
A project priority matrix is a great management tool to selecting those engagements that carry the highest benefits to an organization. The matrix divides all projects by the ease of implementation and their impact. Highest impact and the easiest to implement projects should be completed first. The projects are divided between quick wins, must haves, low hanging fruit and money pits. See the priority matrix below.
Strategy Matrix – Strategy Matrix Analysis – Strategy Framework – Many strategy analysis frameworks have been developed over the years. The strategy matrix tries to define the outcome of the various strategies by identifying whether the activities facing the firm are core vs. critical vs. commodity and whether a firm wants to produce, partner or purchase the good from another supplier.
If a firm defines something as its core, i.e. the ultimate strategic value, then it should not purchase this service from another supplier, otherwise it is risking to lose the competency. The matrix effectively tells you whether the strategy is a good one depending on the type of activity and purchasing strategy.
Force Field Analysis – Force Field Analysis Framework – Force Field Business Methodology – Force field analysis is an approach to depict various forces or factors that are influencing a given business situation. It divides all relevant business forces into those that are supporting the goal and those that are hindering it. Furthermore, it identifies a perceived magnitude of each of the forces.
The force field framework is also used in social psychology and organizational development. The relevant forces are changing over time and you need to update the analysis as required. The following is an example of the force field analysis.
Affinity – Affinity Diagram – Affinity Analysis – Affinity Framework – Affinity diagrams are used to organize ideas and data during a brainstorming session. The ideas are grouped and segmented by various topics and/or relationships. Affinity diagrams are usually completed on yellow post notes.
The affinity charts are widely used within the practice of project management are one of the key 7 management and planning tools. This is also often referred to as a KJ Method. Essentially, the affinity process consists of two main steps – 1. record your ideas 2. look for relationships and organize ideas into meaningful buckets.
Value Net – Value Net Analysis – Value Net is a business framework that recognizes relationships between a company, its competitors, customers, suppliers and complementors (i.e., complementing products). This methodology focuses on competitive analysis and is somewhat similar to Porters Five Forces. Value net framework emphasizes linkage between the key competitive forces and firm’s complements.
The framework helps identify rivals, partners, suppliers, customers and connections between them, including competitive dynamics and power relative to the key players in the industry. Overall, Value Net model is a good approach to solving business problems in relation to company’s competitive position.
CDSTEP – CDSTEP Marketing Diagram – Cdstep Marketing Analysis – Cdstep Marketing Framework – Cdstep Marketing Business Methodology – Cdstep Marketing model is a marketing tool that shows various components of marketing including immediate environment such as customers, company, competitors and outside environment.
The outside environment includes the following macro environmental factors: demographics, culture, social, legal, political, technology and economic environments. Essentially, cdstep is showing that marketing is more than just communication of a product to a consumer, it is very much dependent on the surrounding environment. Below is the cdstep marketing strategy diagram.
Growth Strategy Matrix – Growth Strategy Matrix Analysis – Growth Strategy Matrix Framework – Growth Strategy Matrix Business Methodology – Growth strategy model prescribes a type of strategy depending on whether the markets are existing or new and whether the product is existing or new.
The four growth strategies are: market penetration, market development, product development and diversification. When market is fully penetrated, it is advised for businesses to either proceed with the market development for existing product or product development for existing market. Diversification is usually difficult to achieve. Below matrix identifies various growth strategies and gives examples of real businesses.
Sales Strategy – Sales Strategy Analysis – Sales Strategy Framework – Sales Strategy Business Methodology – Sales Growth Strategy model helps a business to grow its revenues. There are a number of strategies that can be used to achieve sales growth; these include: increasing sales per customer, stealing customers from competition, expanding to new markets and developing new products.
Each of the above strategies has its own implementation plan. For example for increasing sales per customer this includes offering bulk discounts and expanding loyalty programs. Below diagram outlines various sales growth strategies.
Motivation, defined in relation to employees in the workplace, is the extent to which persistent effort is directed towards a goal. The different factors motivating employees at work can be further subdivided into two broad categories – extrinsic and intrinsic. Extrinsic motivation stems from the work environment external to the task and it is usually applied by others (e.g. regular salary, fringe benefits, cash awards for excellent performance, etc.). Alternatively, intrinsic motivation, is thought to result from the direct relationship between the worker and the task and to come from within (e.g. one’s interest in the task, feeling competent, recognition, etc.).
While certain motivational factors fall clearly within these categories, there is some degree of overlap. For example, receiving a compliment or a promotion from a boss are both examples of extrinsic motivation. At the same time both are targeted at eliciting a positive feeling of competence and/or recognition of one’s achievement, both of which fall under the intrinsic motivation category.Thus, a given motivational event can be part-intrinsic and part-extrinsic.
It is also true that most of the employees are motivated by a variety of factors which are likely to come from both categories. Managers need to be aware of the diversity in the workplace and realize that the same conditions will not motivate everyone. Flexibility to employees’ needs is especially important given the increasing productivity demands placed on modern organizations. To stay globally competitive organizations need to replace rigid systems of rules, regulations and procedures by higher levels of initiative among its employees, which would help deliver greater levels of attention to customer needs. This, of course, requires that employees be motivated to add value by looking for ways to improve their performance as opposed to doing a base-line or even sub-par job.
How does a manager, then, determine what kind of motivation would work best for his or her employees? A few conclusions supported by a review of motivational research may help guide the search for optimal motivators.
First, employees motivated by intrinsic factors feel more in control of their motivation, as opposed to those motivated by extrinsic rewards. This results in more effective performance, especially on complex tasks. Therefore, if a manager’s goal is to solicit a performance improvement that may require the employee to identify and analyze possible deficiencies in their current job, the manager would need to ensure that the employee is intrinsically motivated.
This conclusion relates to the second fact discovered by a review of motivational research. It has been shown, that availability of extrinsic motivation may reduce the intrinsic motivation stemming from the task itself. In other words, when employees believe that they perform well as a result of external rewards, it makes them feel less in control of their own behaviour diminishing the power of the intrinsic motivation.
However, such negative effects of extrinsic rewards occur only under limited conditions and are avoidable. Moreover, in line with the idea of the blurred line between extrinsic and intrinsic motivation categories, when extrinsic rewards are seen as symbols of achievement they increase task performance. Thus, both reward types are important and should be combined to achieve greatest employee motivation in the workplace.
Sustainable Competitive Advantage – Sustainable Competitive Advantage Analysis – Sustainable Competitive Advantage Framework – Sustainable Competitive Advantage Business Methodology – Competitive Advantage is a favorable relevant position of a company in a market place above its competitors. This may include possession of a superior product, better supply chain, talented workforce, etc.
The sustainable competitive advantage is essentially a recurring or continuous favorable position in regards to competitors. Some argue that this is the holy grail of business, something everybody dreams of but no one is really able to achieve unless one is a monopoly in the market and is protected from other market participants. However, this does not mean one should give up trying and if location, operational, product and customer excellence are achieved, at least temporary, the customer value is created and the competitive advantage is achieved.
Harvey Balls – Harvey Balls Analysis – Harvey Balls Framework – Harvey Balls Business Methodology – Harvey Balls is one of the most widely used visualization tools to indicate the maturity and/or level of business challenges base on a simple scoring method. Essentially the score is 1 to 5 with a full circle representing a 5 and an empty one representing 1.
The Harvey balls can instantly tell you, which business processes require attention and, which are well-functional. This is an alternative to a heat map. Below sample images are examples of how Harvey Balls are used in business presentations.