We have assembled some great business tools for you to utilize to assess and evaluate where your business stands. These are just a few of the standard tools – there are lots out there. Remember to apply the Business Diagnostics Framework first!
If you need a quick size-up on your corporate health, try our Business Diagnostics Online Assessment Tool.
Ansoff Matrix : This pdf has information in each cell to help you remember what the 4 parts of the matrix are. The Ansoff matrix is an older tool that is just as relevant today as it was when Igor Ansoff first wrote about the concept. Simply put, the Ansoff matrix is a visual depiction of business growth alternatives: market penetration (increase share), market development (new markets existing products), product development (new offerings or product extensions) and diversification (new products/new markets). We like to use the tool to get a visual sense of what is going to work for a company and sometimes seeing it on paper helps make the path clear.
Competitor Assessment : The competitor assessment is a critical tool that is often by-passed by business people or worse, never committed to paper because the company has a ‘gut-feel‘ for their competition. This template can be used to evaluate your competition with standard measures. However, you may want to consider doing a deeper dive into your competition and ask your self, “what criteria are important in our industry?“. It takes time to do competitive analysis and it should be done regularly, but everytime we do one, there is always an “aha ” moment when we discover something the client didn’t know or…didn’t want to know.
SWOT Summary : This document explains the elements of a SWOT analysis. The SWOT is a tool used by every business school but it is only as good as the inputs used on the form. The main problem with a SWOT used in a business content is that most people are blind to their weaknesses and minimize threats. That said, it is still useful starting point for any business diagnosis.
TOWS Strategic Analysis : SWOT vs. TOWS. Same words, different purpose. The TOWS analysis focuses on what can be done and creates a mini-strategy to start driving thinking from research into strategy. We like it because it helps the user create a different framework for strategic thinking.
Value Chain Assessment : A value chain assessment considers all the inputs that are required to deliver a product or service into a defined market segment. This value chain model is designed for traditional bricks and mortar products – this blank template will help you start thinking about the key components of your value chain.
Generic Business Strategy : Anyone familiar with the Business Diagnostics approach knows that crafting an effective business strategy follows the completion of a comprehensive situation assessment. Accordingly, our Business Diagnostics Framework evolves from the outside concentric rings towards the ‘core’ strategic planning function. This critical tool is presented as a generic template recognizing that your evolving business strategies are fluid and can change quickly based on your own business and industry circumstances.
CAPE Model : Developed by Business Diagnostics co-author, Terry Rachwalski, the CAPE Model is used to determine the value a product or service has in the market.
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