Strategic frameworks can 10x your business

Strategic frameworks can 10x your business.

It’s almost like thinking on steroids!

Top 6 strategic frameworks every entrepreneur needs to know to be successful: 🧵

#productmanagement #prodmgmt

 

1. SWOT Analysis

SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis is a framework used to evaluate a company’s competitive position.

That’s an essential tool for thinking about the business.

Learn in 6:27:

 

2. PESTEL Analysis

PESTEL analysis is commonly used to evaluate the business environment in which a company operates.

The acronym stands for Political, Economic, Social, Technological, Environmental, and Legal factors.

Learn in 9:49:

3. Porter’s Five Forces

Porter’s Five Forces is a model that identifies and analyzes five competitive forces:

– Rivalry among existing competitors
– Threat of new entrants
– Threat of substitutes
– Power of buyers
– Power of suppliers

Learn in 8:13:

4. Value Chain Analysis

An analytical framework that assists in identifying business activities that can create value and competitive advantage.

A unique Value Chain is one of the 5 elements of strategy, as defined by Porter.

Learn in 13:15:

5. Ansoff Matrix

The Ansoff Matrix often called the Product/Market Expansion Grid, is a 2×2 framework used to help plan and evaluate growth initiatives.

Learn in 13:50:

6. McKinsey 7S Framework

It illustrates how seven elements of businesses can be aligned to increase effectiveness.

It works well with Porter’s Fit test.

Learn in 10:41:

You can watch those videos in one hour (1:02:15).

Each framework will help you ask better questions and look at problems from different perspectives.

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