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PICK Chart

The PICK chart is a Lean Six Sigma tools used to categorise process improvement ideas generated by a work group and classify ideas into useful sectors

Mithun Sridharan Mithun Sridharan
2 min read
Methodologies Concepts Techniques Optimization Productivity

Pareto Principle

The Pareto Principle states that roughly 20% of actions produce 80% of results. It is a useful construct when analyzing efforts and outcomes

Mithun Sridharan Mithun Sridharan
2 min read
Principle Concepts Insights Optimization

Cost Advantage

Cost Advantage allows a competitive edge by manipulating production costs. For a cost leadership strategy to work, you require a significant cost differential that competitors recognize

Mithun Sridharan Mithun Sridharan
2 min read
Competitive Advantage Strategic Management Competition

Red Queen Effect

The Red Queen Effect explains why we need to work harder and harder just to stay in the same place and why we can't afford to be complacent

Mithun Sridharan Mithun Sridharan
2 min read
Frameworks Perspective Concepts

Differentiation

Differentiation calls for developing unique products or services that customers value and perceive better than from competition

Mithun Sridharan Mithun Sridharan
1 min read
Strategic Management Business Strategy Competition Innovation

External Factor Evaluation (EFE)

External Factor Evaluation Matrix is a strategy tool used to evaluate firm's external environment and to reveal its strengths as well as weaknesses

Mithun Sridharan Mithun Sridharan
2 min read

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