Feynman Technique
The Feynman Technique is a mental model and strategy for learning something new and committing it to memory. It is often used in exam preparation and for understanding difficult concepts. Physicist Richard Feynman elaborated this method, and it’s a powerful technique to explain anything. 5 Whys Method
The 5 Whys method is an interrogative problem-solving technique that seeks to understand cause-and-effect relationships. At its core, the technique is used to identify the root cause of a problem by asking the question of why five times. This might unlock new ways to think about a problem and therefore devise a creative solution to solve it.
Second-Order Thinking
Second-order thinking is a means of assessing the implications of our decisions by considering future consequences. Second-order thinking is a mental model that considers all future possibilities. It encourages individuals to think outside of the box so that they can prepare for every and any eventuality. It also discourages the tendency for individuals to default to the most obvious choice.
Lateral Thinking
Lateral thinking is a business strategy that involves approaching a problem from a different direction. The strategy attempts to remove traditionally formulaic and routine approaches to problem-solving by advocating creative thinking, therefore finding unconventional ways to solve a known problem. This sort of non-linear approach to problem-solving, can at times, create a big impact.
Value Stream Mapping
Value stream mapping uses flowcharts to analyze and then improve on the delivery of products and services. Value stream mapping (VSM) is based on the concept of value streams – which are a series of sequential steps that explain how a product or service is delivered to consumers.
Fishbone Diagram
The Fishbone Diagram is a diagram-based technique used in brainstorming to identify potential causes for a problem, thus it is a visual representation of cause and effect. The problem or effect serves as the head of the fish. Possible causes of the problem are listed on the individual “bones” of the fish. This encourages problem-solving teams to consider a wide range of alternatives.
RFM Analysis
The RFM analysis is a marketing framework that seeks to understand and analyze customer behavior based on three factors: recency, frequency, and monetary. The RFM analysis allows businesses to segment their customer base into homogenous groups, understand the traits of each, and then engage each group with targeted marketing campaigns.
McKinsey’s Seven Degrees Of Freedom
McKinsey’s Seven Degrees of Freedom for Growth is a strategy tool. Developed by partners at McKinsey and Company, the tool helps businesses understand which opportunities will contribute to expansion, and therefore it helps to prioritize those initiatives.
Convergent vs. Divergent Thinking
Convergent thinking occurs when the solution to a problem can be found by applying established rules and logical reasoning. Whereas divergent thinking is an unstructured problem-solving method where participants are encouraged to develop many innovative ideas or solutions to a given problem. Where convergent thinking might work for larger, mature organizations where divergent thinking is more suited for startups and innovative companies.
TRIZ Model
The TRIZ method is an organized, systematic, and creative problem-solving framework. The TRIZ method was developed in 1946 by Soviet inventor and author Genrich Altshuller who studied thousands of inventions across many industries to determine if there were any patterns in innovation and the problems encountered.
Root Cause Analysis
In essence, a root cause analysis involves the identification of problem root causes to devise the most effective solutions. Note that the root cause is an underlying factor that sets the problem in motion or causes a particular situation such as non-conformance.
Disney Method
The Walt Disney method is a parallel thinking technique used by groups to analyze problems, generate and evaluate ideas, and construct and critique a plan of action. The Walt Disney method was invented by author and trainer Robert B. Dilts in 1994. It moves along three role-playing figures: the dreamer, the realist, and the critic.
Reverse Brainstorming
Reverse brainstorming takes advantage of the natural human tendency to more easily see problems than solutions. What’s more, many individuals when placed in a traditional brainstorming environment will find it difficult to become creative on command. Reverse brainstorming is an approach where individuals brainstorm the various ways a plan could fail.
GROW Model
Though no single individual can claim to have created the GROW model, writers Graham Alexander and Alan Fine together with racing car champion John Whitmore played a significant part in developing the framework during the 80s and 90s. The GROW model is a simple way to set goals and solve problems during coaching sessions through four stages: goal, reality, options, and will (way forward).
Eight Disciplines Problem Solving
Eight disciplines problem solving was initially developed by the Ford Motor Company to solve problems associated with engineering design and manufacturing. Management wanted to develop a system where key personnel could work on recurring or chronic issues. Eight disciplines problem solving (8D) is a problem resolution method focused on product and process improvement.
Effective Problem-Solving Strategies
- Feynman Technique: A method for learning and understanding new concepts by explaining them as simply as possible.
- 5 Whys Method: An interrogative technique to identify the root cause of a problem by asking “why” five times.
- Second-Order Thinking: Assessing the implications of decisions by considering future consequences and possibilities.
- Lateral Thinking: Approaching problems from unconventional angles to find creative solutions.
- Value Stream Mapping: Analyzing and improving the delivery of products and services through flowcharts.
- Fishbone Diagram: Identifying potential causes for a problem using a visual representation of cause and effect.
- RFM Analysis: Analyzing customer behavior based on recency, frequency, and monetary value.
- McKinsey’s Seven Degrees of Freedom: A strategy tool to prioritize growth opportunities for businesses.
- Convergent vs. Divergent Thinking: Convergent thinking uses established rules to find solutions, while divergent thinking encourages innovative ideas.
- TRIZ Model: A systematic problem-solving framework based on patterns in innovation and invention.
- Root Cause Analysis: Identifying underlying factors causing a problem for effective solutions.
- Disney Method: A parallel thinking technique using different roles to analyze problems and develop action plans.
- Reverse Brainstorming: Identifying potential problems and obstacles to find innovative solutions.
- GROW Model: A coaching model for goal-setting and problem-solving, focusing on goal, reality, options, and will.
- Eight Disciplines Problem Solving: A method for product and process improvement, developed by Ford Motor Company.
Other Frameworks:
- Growth Strategy Matrix
- BCG Matrix
- Ansoff Matrix
- Growth Hacking
- Go-To-Market Strategy
- Amazon Flywheel
- Customer Obsession
- Coca-Cola Franchained
- Dropbox Self-Serving Model
- Zoom Freeterprise
Read Also:
- Business Strategy
- Types of Business Models
- What Is a Value Proposition?
- What Is Business Model Innovation
- Platform Business Models
- Network Effects In A Nutshell
- Digital Business Models
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