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Operations Research

Operations Research (OR), or Operational Research, is a discipline that deals with the application of advanced analytical methods to help make better decisions. It is often considered to be a sub-field of mathematics. The terms management science and decision science are sometimes used as more modern-sounding synonyms. Employing techniques from other mathematical sciences, such as [...]

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Hoshin Kanri

Hoshin Kanri (HK) is a cyclic planning and management concept from Japanese origin.  It is a management method devised to capture and cement strategic goals as well as flashes of insight about the future and develop the means to bring these into reality.  It is a powerful, systematic Strategic Planning/Management methodology developed by Dr. Yoji Akao [...]

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Product Life Cycle

The Product Life Cycle business framework can help to analyze maturity stages of products and industries.  For any marketer, understanding your product life cycle offers invaluable strategic insight, from pricing to positioning. The term was used for the first time by Theodore Levitt in 1965 in an Harvard Business Review article: “Exploit the Product Life [...]

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Kaizen

Kaizen strategy is the single most important concept in Japanese management–the key to successful Japanese companies such as Toyota. Kaizen, which simply means continuous improvement, is the foundation for all Lean production improvements. Kaizen events are opportunities to make focused changes in the workplace. Kaizen is actually a way of life philosophy. It assumes that [...]

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GE-McKinsey Matrix

The GE-McKinsey Matrix is a business framework to perform a business portfolio analysis on the Strategic Business Units of a corporation. It is also commonly referred to as GE Matrix, McKinsey Matrix, GE Multi-factoral Analysis, Business Assessment Array, and GE Business Screen. It was developed jointly by McKinsey and General Electric in the early 1970s as [...]

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Stakeholder Value Perspective

Stakeholder Value Perspective is a management concept that regards maximization of the interests of its all stakeholders (customers, employees, shareholders, and the community) as its highest objective. Its objective is to maximize this value by following policies that (1) minimize cost and waste while improving the quality of its products, (2) enhance the skills and [...]

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Quality Function Deployment

Quality function deployment (QFD) is a method to transform user demands into design quality, to deploy the functions forming quality, and to deploy methods for achieving the design quality into subsystems and component parts, and ultimately to specific elements of the manufacturing process. QFD was developed by Yoji Akao and Shigeru Mizuno in Japan in [...]

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Profit Pools

The Profit Pools method of Orit Gadiesh and James L. Gilbert is a strategy model that can be used to help managers or companies focus on profits, rather than on revenue growth. The idea behind it is: managers need to look beyond revenues to see the shape of their industry’s profit pool. In this way [...]

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Porter’s Five Forces

Porter’s Five Forces analysis is a business framework for industry analysis and business strategy development. It draws upon industrial organization economics to derive five forces that determine the competitive intensity and therefore attractiveness of a market. Attractiveness in this context refers to the overall industry profitability. An unattractive industry is one in which the combination [...]

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Vertical Integration

In microeconomics and management, the term vertical integration describes a style of management control. Vertically integrated companies in a supply chain are united through a common owner. Usually each member of the supply chain produces a different product or (market-specific) service, and the products combine to satisfy a common need. It is contrasted with horizontal [...]

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