You can explore the use of over 30 strategic frameworks for scenario planning.
Strategic Analysis Frameworks:
- BCG growth share matrix: This framework categorizes products or business units based on their market growth rate and relative market share. This helps with making strategic decisions about where to invest, divest, or grow.
- McKinsey three horizons of growth: This framework helps companies think about their growth strategy by dividing it into three horizons: the near horizon (1-2 years), the mid-horizon (3-5 years), and the far horizon (5+ years). Each horizon has different priorities and requires different approaches.
- PESTLE analysis: This framework helps companies identify external factors that could impact their business, such as political, economic, social, technological, legal, and environmental factors.
- SWOT analysis: This framework helps companies identify their strengths, weaknesses, opportunities, and threats. This information can then be used to develop a strategic plan.
- Porter’s five forces: This framework helps companies understand the competitive landscape in their industry. The five forces are the threat of new entrants, the bargaining power of suppliers, the bargaining power of buyers, the threat of substitutes, and the competitive rivalry.
Strategic Planning Frameworks:
- Ansoff’s growth matrix: This framework helps companies develop growth strategies by considering two dimensions: market penetration, product development, market development, and diversification.
- A.T. Kearney Strategic Chessboard: This framework helps companies develop strategies by considering their strengths and weaknesses relative to their competitors.
- Balanced scorecard: This framework helps companies measure their performance across four perspectives: financial, customer, internal processes, and learning and growth.
- Prioritization matrix: This framework helps companies prioritize tasks or projects based on their importance and urgency.
Strategic Implementation Frameworks:
- Change management model: This framework helps companies plan and implement change initiatives. There are many different change management models, but they all share common elements such as identifying the need for change, developing a plan for change, communicating the change, and managing resistance to change.
- Hoshin Planning: This is a Japanese strategic planning process that helps companies align their goals and objectives throughout the organization.
- OKR method: This method helps companies set goals and track their progress.
- Minto pyramid principle: This framework helps with communication and problem-solving by organizing information into a pyramid structure.
Execution and Control Frameworks:
- Customer purchase funnel: This framework helps companies understand the steps that customers take before making a purchase. This information can then be used to improve marketing and sales efforts.
- Customer journey template: This framework helps companies map out the entire customer experience, from initial awareness to post-purchase support. This information can then be used to improve customer satisfaction.
- Profit tree: This framework helps companies break down their overall profit goal into smaller, more manageable goals. This can help with tracking progress and identifying areas for improvement.
- Will skill matrix: This framework helps companies assess the skills and abilities of their employees. This information can then be used to develop training programs and make staffing decisions.
- Conditions for a high-performing team: This framework identifies the factors that contribute to high-performing teams. These factors include clear goals, strong communication, trust, and mutual respect.
- Project management triangle: This framework highlights the three key constraints of project management: scope, time, and cost.
- SMART Goal: This framework helps with setting goals that are Specific, Measurable, Achievable, Relevant, and Time-bound.
- Lean improvement tools: These are a set of tools and techniques that can be used to improve processes and eliminate waste. Some common lean tools include Kanban, value stream mapping, and 5S.
- Six Sigma framework: This is a data-driven approach to improving quality and reducing waste. Six Sigma uses a DMAIC (Define, Measure, Analyze, Improve, Control) methodology to identify and eliminate defects.
- 8 sources of waste: This framework identifies eight common types of waste that can occur in businesses, such as overproduction, waiting time, defects, and unnecessary transportation. Eliminating these wastes can improve efficiency and profitability.
- ECRS Framework: This framework helps companies evaluate and improve the effectiveness of their customer relationship management (CRM) efforts. The ECRS stands for Efficiency, Customer-Centricity, Responsiveness, and Strategy.
- Process maturity framework: This framework helps companies assess the maturity of their processes and identify areas for improvement. There are many different process maturity frameworks, but they all share the common goal of helping companies achieve consistent and reliable results.
- Stages of data: This framework describes the different stages of data, from raw data to actionable insights. Understanding the stages of data can help companies improve their data management and analytics efforts.
- The 5 W’s and 1 H strategy: This framework helps with planning and decision-making by asking the following questions: Who, What, When, Where, Why, and How.
- 8 P’s of marketing: This framework helps with developing marketing strategies by considering the following elements: product, price, place, promotion, people, process, physical evidence, and packaging.
- Net promoter score: This metric measures customer loyalty and satisfaction. A high net promoter score indicates that customers are likely to recommend your company to others.