framework

(noun)

A basic conceptual structure.

Related Terms

Examples of framework in the following topics:

  • The PESTEL and SCP Frameworks

    • PESTEL and SCP frameworks are models for understanding different industry and market factors that impact strategic management.
    • The basic premise behind this framework, from a strategy perspective, is to identify opportunities and threats in the market.
    • Economic factors are by far the easiest to quantify, and they provide a basic framework for capital exchange and consumer purchasing ability.
    • Taken into account alongside the PESTEL framework, management should carefully consider and define the structure of a given industry.
    • Apply PESTEL and SCP frameworks to industries in which incumbents operate

  • PESTEL: A Framework for Considering Challenges

    • The PESTEL framework highlights six critical factors for management to consider when approaching the general business environment.
    • Analyzing the entirety of the macro-environment is an extensive and complex task, but understanding the framework of basic influences allows for an organized and strategic approach to isolating each opportunity or threat.
    • The last factor in PESTEL concerns legal elements, which can also be tied to the political framework.
    • Assess opportunities and threats within the context of external factors using the PESTEL framework

  • The Importance of Performance Targets

    • The SMART model is a good framework to keep in mind when generating goals and objectives.
    • The SMARTER framework expands upon this model by noting that objectives should be evaluated and reviewed consistently as well.
    • Explain the importance of performance targets in the business framework and the approaches to communicating and achieving them

  • Job Characteristics Theory

    • The Job Characteristics Theory is a framework for identifying how job characteristics affect job outcomes.
    • The Job Characteristics Theory (JCT), also referred to as Core Characteristics Model and developed by Hackman and Oldham, is widely used as a framework to study how particular job characteristics impact job outcomes, including job satisfaction.

  • Limitations of the Five-Forces View

    • Strategy consultants will use Porter's Five Forces framework when making a qualitative evaluation of a firm's strategic position; however, it is only one tool of many and is not infallible.
    • The framework is only a starting point or checklist.
    • Large organizations analyzing markets that are too broad and smaller organizations focusing on specific sectors need to keep this limitation in mind when using this framework.
    • Another limitation—which Porter's model shares with most competitive frameworks—is that of chronological thinking.

  • The RATER Model

    • RATER is a service quality framework that highlights five important business areas customers use to analyze strength or weaknesses.
    • The RATER model is a service quality framework.
    • Parasuraman, and Leonard Berry, who introduced the framework in their 1990 book Delivering Quality Service.

  • Sourcing Technology

    • Technology sourcing involves isolating and implementing new innovations within an existing business framework.
    • Technology sourcing, or the pursuit of implementing new technologies within a businesses strategic framework, involves isolating and applying new technologies to current models.

  • Visual Scorecards

    • The visual scorecard is a graphic analogy of the balanced scorecard framework and a key visual link between performance and strategy.

  • What is Strategy?

    • A strategy is a plan of action designed to achieve a specific goal or series of goals within an organizational framework.
    • Guiding Policy: What framework will be used to approach the operations?
    • Strategy as position: locating brands, products, or companies within the market based on the conceptual framework of consumers or other stakeholders; a strategy determined primarily by factors outside the firm

  • Strategic Management

    • While many management models pertaining to strategy derivation are in use, most general frameworks include five steps embedded in two general stages: