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Strategic management tools. In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.
The McKinsey 7S Framework is a management model developed by business consultants Robert H. Waterman, Jr. and Tom Peters (who also developed the MBWA-- "Management By Walking Around" motif, and authored In Search of Excellence) in the 1980s. This was a strategic vision for groups, to include businesses, business units, and teams. The 7 S's are ...
The MECE principle has been used in the business mapping process wherein the optimum arrangement of information is exhaustive and does not double count at any level of the hierarchy. Examples of MECE arrangements include categorizing people by year of birth (assuming all years are known), apartments by their building number, letters by postmark ...
The cover of The Peter Principle (1970 Pan Books edition). The Peter principle is a concept in management developed by Laurence J. Peter which observes that people in a hierarchy tend to rise to "a level of respective incompetence": employees are promoted based on their success in previous jobs until they reach a level at which they are no longer competent, as skills in one job do not ...
For strategic planning to work, it needs to include some formality (i.e., including an analysis of the internal and external environment and the stipulation of strategies, goals and plans based on these analyses), comprehensiveness (i.e., producing many strategic options before selecting the course to follow) and careful stakeholder management ...
Some of the later 20th-century developments include the theory of constraints (introduced in 1984), management by objectives (systematized in 1954), re-engineering (the early 1990s), Six Sigma (1986), management by walking around (1970s), the Viable system model (1972), and various information-technology-driven theories such as agile software ...
The first step in the analytic hierarchy process is to model the problem as a hierarchy. In doing this, participants explore the aspects of the problem at levels from general to detailed, then express it in the multileveled way that the AHP requires.
A useful way of planning is to break down tasks into a hierarchy, using a tree diagram. The process decision program chart (PDPC) extends the tree diagram a couple of levels to identify risks and countermeasures for the bottom level tasks. Different shaped boxes are used to highlight risks and identify possible countermeasures (often shown as ...