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Performance Management

Performance management (PM) includes activities which ensure that goals are consistently being met in an effective and efficient manner. Performance management can focus on the performance of an organization, a department, employee, or even the processes to build a product of service, as well as many other areas.  PM is also known as a process by [...]

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Reference Documents by Business Topic

This compiled list of reference documents has been republished from the Flevy blog here.  Please bookmark the original article, as that is updated on a weekly basis. These documents below are mostly consulting methodologies developed for and by consulting firms. 5S 5S for the Office https://flevy.com/browse/business-document/5s-for-the-office-161 5S Visual Workplace http://flevy.com/browse/business-document/opex-5s-visual-workplace-training-module–602 5S: Five Disciplines for High [...]

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Value Disciplines

Four New Rules According to CSC Index consultants Michael Treacy and Fred Wiersema in “The Discipline of Market Leaders”, there are four new rules that competing companies must obey. Provide the best offer in the marketplace, by excelling in one specific dimension of value. Market leaders first develop a value proposition, one that is compelling [...]

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Activity Based Costing

Activity Based Costing (ABC) is an alternative to the traditional way of accounting. Traditionally it is assumed that high volume customers are profitable customers. A loyal customer is also a profitable customer. And profits will follow a happy customer. Studies about customer profitability have unveiled that the above ideas are not necessarily true. ABC is [...]

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Impact/Value Framework

In their 1987 article “The changing value of communications technology” Michael Hammer and Glenn Mangurian presented the Impact/Value framework that can be used to think about the value of Information Technology. Vertical axis of the Impact/Value framework Time: in particular time compression is important. Distance: in particular overcoming geographical limitations is significant. Relationships: sometimes organizational [...]

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Bass Diffusion Model

The Bass Model or Bass Diffusion Model was developed by Frank Bass.  It consists of a differential equation that describes the process of how new products get adopted in a population. The model presents a rationale of how current adopters and potential adopters of a new product interact. The basic premise of the model is [...]

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Total Cost of Ownership

Total Cost of Ownership (TCO) is a financial estimate whose purpose is to help consumers and enterprise managers determine direct and indirect costs of a product or system. It is a management accounting concept that can be used in full cost accounting or even ecological economics where it includes social costs. For manufacturing, as TCO [...]

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Game Theory

Game Theory is a study of strategic decision making. More formally, it is “the study of mathematical models of conflict and cooperation between intelligent rational decision-makers.” An alternative term suggested “as a more descriptive name for the discipline” is interactive decision theory. Game theory is mainly used in economics, political science, and psychology, as well [...]

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Benchmarking

A benchmark is a point of reference for a measurement. Benchmarking is process of comparing one’s business processes and performance metrics to industry bests or best practices from other industries. It does this by capturing performance metrics and comparing their values with a comparable set of previously recorded measures. This comparison set can be taken [...]

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ARIMA

ARIMA stands for AutoRegressive Integrated Moving Average. The ARIMA Time Series Analysis uses lags and shifts in the historical data to uncover patterns (e.g. moving averages, seasonality) and predict the future. The ARIMA model was first developed in the late 60s but it was systemized by Box and Jenkins in 1976. ARIMA can be more [...]

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