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.
DISC Personality types diagram below shows the 4 key personalities that can emerge both under the normal circumstances but also in the crisis. DISC stands for Dominant, Influential, Steady and Compliant personality types. Dominant is someone who is direct and decisive but may be demanding and appear not as a people person. Influential is someone who is inspirational and interactive but may appear irritating. Steady is someone who is stable and supportive but may appear slow and sensitive. Compliant is someone who is careful but may appear calculating. Dominant and Compliant are Task / Process focused while Influential and Steady are People focused. Dominant and Influential are Leadership / Active personality types while Steady and Compliant are more Reflective and Supportive types. DISC diagram below is a good summary of these personality types and can help one thrive in the organizational environment.
Crisis management is a field of business management with a focus on resolving crisis. So what do you do to manage crisis when it arises and how do you work through it? Below is the simple checklist that shows do and don’t of dealing with adverse situations. The dos include: becoming the trusted voice in the crisis, giving your full attention to resolving it, understand what you can delegate and what you need to do yourself to manage the situation. The don’ts include: lying, disappearing, minimizing the situation, not understanding the facts. The below is a good approach to dealing with any crisis.
Creative Thinking process diagram shows how you can use the Critical Thinking diamond approach to first Diverge into generating new ideas, brainstorming, exploring and visualizing and then later Converge into more specific clear solutions, decisions, and implementable ideas. Think creatively to generate new ideas but always refocus and establish plans and identify actionable and specific ideas. This type of critical thinking approaches are often used in the Service Design field.
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.
sustainable competitive advantage
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.
Project Management – Project Management Analysis – Project Management Stages – Project Management Framework – Project Management Business Methodology – Project Management model is one of the top business frameworks used for managing and leading projects and other kind of engagements. The model brings some structure to the project phases and makes it more organized.
The project stages include initiation, planning and design, executing or implementation, monitoring and controlling, closing. There may be other stages depending on the nature of the work. Work planning varies depending on the resources assigned, project timelines, etc. Below sample images are examples of Project Management stages.
Time Cost Quality – Time Cost Quality Analysis – Time vs. Cost vs. Quality Trade-offs – Time Cost Quality Framework – Time Cost Quality Business Methodology – Time Cost Quality model is one of the business strategy frameworks that states that you can provide a product which is either of low cost, high quality or delivered quickly or a combination of any of the two components. However, because of the trade-offs, you cannot have all three.
This has been disputed somewhat in recent history and many companies are trying to achieve all three. Think of an Apple’s Iphone when it first came out, it was so revolutionary that you could argue that it met all three criteria. New inventions and blue ocean ideas can sometimes break the tradeoffs associated with time, cost and quality and allow for all three to be present as part of one’s product. Below sample images are examples of Time vs. Cost vs. Quality frameworks used in business management.
time cost quality
Process Map – Process Map Analysis – Process Map Framework – Process Map Business Methodology – Process Mapping is a tool to documenting business processes and is an effective way to think about the inefficiencies associated with each process step. Process mapping is used as part of the Lean Six Sigma toolkit. There may be few process levels with Level 1 usually representing the high level view, level 2 is more detailed with level 3 focusing on procedural.
Key process map symbols include boxes, which represent steps and procedures, diamonds are decision points.
Below sample image is an examples of a Process Map used in business management with legend and explanations on what each symbol means.
Customer Lifecycle – Customer Life Cycle – Customer Lifecycle Analysis – Customer Lifecycle Framework – Customer Lifecycle Business Methodology – Client Lifecycle model is a key business strategy tool that shows the customer loop from the very initiation through purchase to advocacy. The importance of this framework is in the fact that the client goes through a number of stages and a business needs to be aware of these lifecycle stages and travel with the customer at each phase. There should be a tactic or a strategy for each of the customer phases that a company needs to think of.
Below sample Customer Life cycle chart is a useful business management tool. The stages include: awareness, knowledge, consideration, selection, buying, satisfaction, loyalty and advocacy.
The comparison was performed in the retail branches between the hours of 12 pm and 2 pm on a weekday (See note 1 below). This was done to examine the banking experience free of additional customer volume interruption and possible teller fatigue following a long shift. The 5 major Canadian retail banks were compared: TD Canada Trust, RBC Royal Bank, Scotiabank, CIBC and BMO. To eliminate possible differences resulting from customer service at different areas, all the branches visited were in close proximity to one another. Finally, the teller at each of the 5 banks was approached with the same request and follow-up questions: “Hi, I am interested in signing up for a credit card. Could you please tell me about your credit card offerings.”
See the full article posted by Marketa Consulting
TD Canada Trust
Wait time: 1/5
Customer Needs: 3/5
RBC Royal Bank
Wait time: 3/5
Customer Needs: 2/5
Wait time: 4/5
Customer Needs: 1/5
Wait time: 4/5
Customer Needs: 3/5
Wait time: 3/5
Overall, a few patters and improvement opportunities emerged as a result of this experience. First, it seems that the branch retailer locations are not properly incentivized and/or interested in selling credit card products to prospective customers. To boost credit card sales, tellers could benefit from a streamlined process for assessing and segmenting customer needs. This could be achieved by utilizinga simple tool (e.g. a flow chart, decision matrix, online questionnaire) that identifies customer needs and preferences through a set of yes/no question. Once customer preferences and needs are identified, the teller would then align their recommendations with the most suitable credit card product.
Second, tellers need to be trained to be more knowledgeable and show enthusiasm by actively offering cards and working with the customer to find the best suitable option. This could include being more upfront with advice and being more familiar with the credit card brochures. Narrowing the choices down with the help from the teller would lead to higher sale penetration and better overall client experience.
While it is important to recognize that more and more customers are applying for cards online, the traditional retail channels need to ensure that they can continue servicing customers at the branches. This includes presence of knowledgeable employees and relevant information such as well-designed hardcopies of brochures.
Note 1: The output of the study is illustrative of one customer experience and may not give a true representation of the customer experience in aggregate. The study is not meant to favour one financial institution over another.
5S – Kaizen 5S – 5S Analysis – Five S – 5S Framework – 5S Business Methodology – 5S model is an approach to solving business problems. Below sample images are examples of 5S used in business management.
5S is a Lean Six Sigma structured method to getting a workplace cleaned up (eliminating waste), organized, standardized and then sustaining the improvements made. Five S name is based on the five Japanese words starting with S. Below is the image of this framework and key benefits of 5S model.
5 Why – 5 Why Analysis – Five Why – 5 Why Framework – 5 Why Business Methodology – 5 Why model is one of the fundamental lean six sigma frameworks and is essential in looking for the root cause of waste and business challenges.
Level after level, 5 WHYs are meant to unpeal symptoms to get to the root cause of an issue. The limit is placed on a number five because looking beyond may not be as viable and will probably go as far as a psychological issues of the business owners; Lean recognizes that psychology is not its competence 🙂 and that the focus is to be at a business level. Below sample images are examples of 5 Why-s used in business management.
5 why analysis
Bullwhip Effect – Bullwhip Effect Analysis – Bullwhip Effect Framework – Bullwhip Effect Business Methodology – Bullwhip Effect is one of the recongnized recurring issues whereby a sudden spike or a decline in demand from a customer results in much bigger effect on the supply chain.
The longer the supply chain, the more pronounced is the effect with potentially huge variations and volatility for producers of raw materials. Understanding of this effect should limit managers mistakes when it comes to overproduction, ordering of goods and meeting customer demand. Below sample images are examples of Bullwhip Effect.
Porters Value Chain – Porter’s Value Chain Analysis – Porters Value Chain Framework – Porters Value Chain Business Methodology – Porters Value Chain model is an approach developed by Michael Porter to complete an internal analysis of a company focusing on its value chain: its primary and secondary activities. Primary activities include logistics, operations, marketing and sales. Secondary activities include infrastructure, human resources, technology and procurement.
Understanding all of these business processes helps develop a business strategy for the company and improve its operations. Below sample images are examples of Porters Value Chain used in business management.
porter value chain
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.