{"id":1135,"date":"2018-08-07T08:15:32","date_gmt":"2018-08-07T08:15:32","guid":{"rendered":"http:\/\/thebigtimegroup.com\/?page_id=1135"},"modified":"2020-04-27T08:30:56","modified_gmt":"2020-04-27T08:30:56","slug":"tools-every-business-consultant-should-know","status":"publish","type":"page","link":"http:\/\/thebigtimegroup.com\/tools-every-business-consultant-should-know\/","title":{"rendered":"Tools Every Business Consultant Should Know"},"content":{"rendered":"<p>Business experts have a number of tools at hand to analyze company performance. Here are six frameworks that consultants and business analysts use, and that you might consider adding to your own set of tools.<br \/>\nBENCHMARKING<br \/>\nBenchmarking is the process of comparing your company metrics to the metrics of your industry competitors or to those of innovative companies outside the industry.<br \/>\nBALANCED SCORECARD<br \/>\nThe balanced scorecard is a framework for tracking important aspects of company strategy and for facilitating organizational improvement or change. It measures metrics beyond typical financial metrics to help companies keep long-term strategic goals in focus and spot trouble before it appears in the financial statements. <a href=\"http:\/\/prestigepaintershouston.com\/commercial-painting\/\" style=\"border: none; color: #666666 ; font-weight: normal !important; text-decoration: none;\">Check out commercial painting houston<\/a>.<br \/>\nThe scorecard is a comprehensive and quantitative set of objectives that can be measured over time.<br \/>\nPORTER\u2019S FIVE FORCES<br \/>\nDeveloped by Michael E. Porter, Bishop William Lawrence University Professor at Harvard Business School, Porter\u2019s five forces is a framework for industry analysis that is used as an input to a strategic plan.<\/p>\n<p>The five competitive forces that influence profitability in any industry are outlined in Porter\u2019s model<br \/>\nTHE GE-MCKINSEY NINE-BOX MATRIX<br \/>\nThis matrix was developed by McKinsey &amp; Company in the 1970s to help General Electric prioritize its investments in its numerous business units. It\u2019s widely used to help companies assess the relative merits of various opportunities.<\/p>\n<p>Business units or opportunities are categorized as \u201chigh,\u201d \u201cmedium,\u201d or \u201clow\u201d within the two axes of the matrix, which are \u201cindustry attractiveness\u201d and \u201ccompetitive strength of the business unit.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business experts have a number of tools at hand to analyze company performance. Here are six frameworks that consultants and business analysts use, and that you might consider adding to your own set of tools. BENCHMARKING Benchmarking is the process of comparing your company metrics to the metrics of your industry competitors or to those &hellip; <a href=\"http:\/\/thebigtimegroup.com\/tools-every-business-consultant-should-know\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":363,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"http:\/\/thebigtimegroup.com\/wp-json\/wp\/v2\/pages\/1135"}],"collection":[{"href":"http:\/\/thebigtimegroup.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"http:\/\/thebigtimegroup.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"http:\/\/thebigtimegroup.com\/wp-json\/wp\/v2\/users\/363"}],"replies":[{"embeddable":true,"href":"http:\/\/thebigtimegroup.com\/wp-json\/wp\/v2\/comments?post=1135"}],"version-history":[{"count":0,"href":"http:\/\/thebigtimegroup.com\/wp-json\/wp\/v2\/pages\/1135\/revisions"}],"wp:attachment":[{"href":"http:\/\/thebigtimegroup.com\/wp-json\/wp\/v2\/media?parent=1135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}