The Boston Matrix Model, devised by Bruce Henderson, is a tool for assessing the market potential of products and services already in production, as well as ones in a more infant stage. Once the product or service has been defined in the table below a...
A range of tools can be used to plan, implement, or evaluate a strategy. These tools are useful as getting small tasks wrong, such as not identifying relevant stakeholders, can have significant consequences for the overall strategy. Trend Analysis: Identifying trends, whether they are within the industry...
Due to rapid and unpredictable changes to the economic and political environments, traditional long-term planning methods have become less effective in recent years. For this reason, scenario planning, whereby various future scenarios are predicted and planned for, has become a popular approach. The ideal outcome...
Gary Hamel’s ‘New Innovation Solution’, in his book “Leading the Revolution” (2000), is one of the most well-known explanations of how best to give ideas the best possible opportunity to flourish, whilst also not wasting resources on weak ideas. He carefully explains how best to...
Corporate entrepreneurship, also known as having a creativity culture within an organisation, encourages employees to be innovative and think freely, without being constrained by the status quo. It is not only important for individuals to be creative, but also to exist within an environment that...
Innovation and creativity are amongst the most important drivers of business growth and never has this been more the case than in the saturated, rapidly-evolving markets of the 21st century. Disregarding these ideas, as current consumers do not use them and they may not make...
Weisbord’s 6 box model is a framework developed to diagnose organisational issues that are not obvious to senior management. The model outlines six possible areas of investigation to look into when looking to find areas where the organisation is not functioning as efficiently as it...
Many factors affect the problem solving process and hence it can become complicated and drawn out when they are unaccounted for. Acknowledging the factors that affect the process and taking them into account when forming a solution gives teams the best chance of solving the...
The drill down technique is an excellent problem solving method for getting to the root of the problem. Often, the problem causing the company grief is clear, but tackling this problem effectively can only occur if the factors causing this problem are determined. The drill...
The 6 Thinking Hats methodology for solving problems, developed by Edward De Bono, is often used by teams to tackle complex organisational problems. The idea behind it is that different responsibilities are given to different individuals in order to bring different perspectives for how to...