Business Model Canvas outlines nine segments which form the building blocks for the business model. The following diagram shows the various components of the business model canvas and explains what they are.
The GE-McKinsey nine-box matrix is a strategy framework that offers a systematic approach for a corpora tion with multiple businesses or products to prioritize its investments. Business units are assessed by their appeal in the industry and strength relative to competition. Please see the below diagram for an example of Mckinsey 9-box matrix.
Fishbone root cause analysis diagram (also known as Ishikawa diagram) is used to identify key root causes for issues affecting certain aspects of your business. It categorizes root causes into categories, which make sense to your situation. However, often People, Machines (Technology), Procedures, Processes are used as categories for the root cause analysis. Fishbone is really what the root cause diagram looks like with issues in the head of the diagram. This analysis is often used in the A stage of the Lean Six Sigma DMAIC approach.
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.
Gap Analysis – Gap Analysis – Gap Analysis Framework – Gap Analysis Business Methodology – Gap Analysis is a business tool aimed at identifying gaps and / or problematic areas by a given business process or a department. Usually gap analysis utilizes a point of reference, e.g. an industry benchmark that serves as a comparisson point. Sometimes, benchmark would not be present, as instead you would specify where the business wants to go, and where the business currently is, what is the gap, how can this gap be breached, i.e. development of recommendations.
Below is an example of the stages for gap analysis and sample Gap Analysis representation widely used in business management presentations.
Heat Map – Heat Map Business Analysis – Heat Map Framework – Heat Map Business Methodology – Heat Map, also sometimes spelled as heatmap, is one of the business tools and is a form of a gap analysis, where one can quickly identify the problematic areas, usually marked in red, while green and yellow represent strengths and potential for improvement respectively.
Heat maps are very useful in presentations of large amounts of data. They usually list business processes and categories (e.g. by department) in a table full of financials / figures. By looking at the table, one quickly sees where effort needs to be directed and what are the areas of improvement. Below sample images are examples of Heat Map used in business management.
business heat map
Roadmap – Roadmap Analysis – Roadmap Framework – Action Plan – Action Plan Chart. Roadmap is a company’s action plan to realizing a certain business strategy consisting of concrete steps to be undertaken for realization of business goals and priorities.
Roadmap includes a timeline and intiatives categorized by a certain work stream. Below sample images are examples of roadmaps used in business management.
Client Journey Map is a visual representation of the client experience from the perspective of the client. This is different from the process map, which focuses on internal processes of the company. For instance, there may be multiple internal hand-offs but the client does not see them, instead the client may be experiencing delay waiting for the processes to be complete. This may not be seen on the process map as all internal units complete tasks within their service level agreements (SLA).
The key parts of the client journey map include the high level process, activities undertaken by the client, client’s emotional state or a feeling s/he is experiencing in each of the stages, channel of interaction and recommendations for improvement mapped against each client stages of the process. Client journeys are best completed leveraging client interviews, client complaints, surveys or experience of employees using the service. They offer unique alternative view of client’s activities and emotions related to the process.
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.
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.
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.