Many people look for management tools and all kinds of applications to improve their routines. This happens because these types of resources help organize what we need to do on a daily basis, in addition to allowing us to have a better overview of everything that we still have to do.
For whom, this type of tool is very important, as it is easy to get disorganized due to the possibilities of online distraction.
And for those who work alone, that is even worse, since there are several different tasks that need to be completed with short deadlines or even on the same day.
To help you optimize your routine, we suggest here 11 management tools, about which we are going to talk a little so that you understand how they work.
What are management tools?
Management tools are all those techniques and strategies that can be used to improve production and processes within a company.
The main idea of them is to increase the control and knowledge of the entrepreneur’s processes in relation to the company itself and mainly to direct the people responsible for certain tasks to understand what needs to be done.
Unfortunately, it is very common to find some managers who do not know all the processes of the activities carried out in your area. This can be explained by the large number of tasks that need to be performed at the same time.
In addition, it is also possible to have people who work with you, who know your business processes, but who do not understand how efficient they are or should be.
In any case, the quality of the services provided can be lost during production or in other processes due to lack of knowledge of everything that is happening in your business.
That is why it is important to use management tools. They help maintain better control of all processes within the company, increasing the efficiency of those involved in each of them.
In addition, the organization is one of the essential pillars to keep the company running and increasing its efficiency.
Now that you understand what management tools are, we will show you 11 that we believe are essential to help you in your professional organization and in your company.
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1. Business plan
It is a strategic document that serves to expose objectives and goals, in addition to presenting the vision of the entrepreneur to other members of your team or future collaborators of your business.
In addition, the business plan also allows you to start new marketing strategies and identify your audience in a more assertive way, since in it you put all the information about your company in addition, of course, to the actions you need to execute.
2. Strategic plan
A is a document that helps to manage the operations of the company, make investments, project expenses and budgets and allocate resources to achieve the previously determined objectives.
It is common for all large companies to have a strategic plan, however, it is very important that small businesses also do so, as it is a great tool to know where the business is going and if the proposed objectives are being achieved.
As we said before, a strategic plan has different functionalities; however, the main one is to establish objectives and determine the specific guidelines to achieve them, of course, this, in turn, will have different consequences such as improvement in operations, organizational structure and measurement of the results of the goals.
In addition, it will also contribute to the development of an organizational culture based on a vision and mission that will guide the path of the company and those who make it up towards the same goal, assuming a future commitment and improving the alignment between the teams.
In general, all the changes and order brought about by the use of a strategic plan in business have immediate positive effects, such as: an increase in business growth, an improvement in the perception and positioning of the brand and the generation of greater value in their products or services.
Thanks to a strategic plan, it is possible to make the best decisions for a business and not only that, but it also allows adjustments to be made at the right time.
3.Canvas
Canvas is a management model. It joins tools, techniques and a methodology to innovate within the operation of the company’s processes.
Within this management model there are seven steps:
- Definition of objectives;
- Strategizing;
- Priority setting;
- Employee development;
- organization design;
- Resource allocation;
- Results monitoring.
The main idea of Canvas is to save entrepreneurs who are starting their business from the headache that a new venture can give.
Based on the premise that management can be controlled directly from paper, the method is very easy to do.
Within the Canvas there are the seven steps that give rise to seven blocks in a frame, panel or any surface that can be used as a frame.
Each block has post-its attached informing certain terms and concepts of a certain step.
For example:
- The goal of the company: what is the goal of the company? This must be defined in a way that is clear and direct;
- Strategy: are the actions that must be carried out to reach the main objective. They can always be formulated in verbs in the infinitive, such as “increase the number of customers”;
- Priorities: what are the first actions to be done and that lead to the expected result. Also, what is the order of priorities of each of them;
- People: who is essential to the projects that will help achieve the initial goal;
- Environment: how the environment in which they are working can be designed to help you evolve towards the goal you have set for yourself;
- Resources: how resources can be directed to a better infrastructure of the company;
- Monitoring: This is the way to manage and verify the results of the actions created.
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4. SWOT Matrix
It is one of the most used management tools for the description of variables within a company. They are the weaknesses, opportunities, strengths and threats.
This is a well-known method in today’s business management areas.
Short, medium and long term planning can be structured and carried out correctly when used within this strategy.
The idea of the matrix or SWOT analysis is to create a table that helps in making decisions in certain circumstances in the daily life of the company.
Roughly speaking, the table works as follows: you show and expose the weaknesses, strengths, threats and opportunities of the company and analyze them as a whole. When weaknesses and threats present themselves to you, for example, and where your strengths and opportunities lie.
Within a specific situation, decision making becomes more rational than if you were without that management tool, since with it you have a macro view of what is working and what you still need to improve in your business.
5. BCG Matrix
The Boston Consulting Group Matrix is a management tool that helps analyze the current market situation. Through its correct use, it will be possible to make effective decisions and in the correct time in relation to the management of the business class.
The BCG matrix is a classic tool that has been used for years by managers and administrators, and despite the fact that many believe that it is an outdated tool for the new times, the truth is that this tool can be a perfect complement when determining digital strategies.
This matrix is represented by a double-entry box, with “Y” and “X” axes. Which represent market growth and relative market share.
The products can be found in any of the 4 quadrants mentioned above and will be divided into different categories.
The first, the star products that are the ones with the highest growth and have a high participation and growth.
The second category is defined by the questionable products, since it is not yet known in which category they will be in the near future, although the potential of these products is promising, the market could discard them. In fact, maintaining this type of product is relatively expensive for companies.
The third quadrant is that of vaca products, since although these products or businesses are of low growth, they have a fairly high degree of consolidation that gives the company the financial solidity that the company needs. In addition to this, businesses in this quadrant need little investment to stay on their feet.
Finally, dog products are businesses that are in their final stage of life, the growth they show is low as well as the market share, they are generally not profitable; however, it is possible that in some cases after a certain investment it will be possible to relaunch them.
6. Ansoff matrix
The Ansoff matrix or product and market matrix or growth vector is a management tool whose main objective is to identify the growth opportunities of a business.
This matrix was created by Igor Ansoff in 1957, this economist and mathematician known as “the father of strategic management” developed a tool that provided different product and market options on which the company could base its future growth.
This matrix works in a simple but effective way: on the X axis the products are located, while on the Y axis the markets are located. Each of these variables is subdivided into two categories, the so-called new ones or the so-called current ones.
By dividing the graph according to the variables, four quadrants will be generated which will recommend which growth strategy to adopt.
6.1. market penetration
The market penetration strategy corresponds to the first quadrant of the matrix and combines current products and markets.
In this quadrant, what is sought is to increase market share with the same products, for which it will seek to invest more in advertising, increase the frequency of purchase or the quantity consumed by these.
6.2 Development of new markets
The strategy of development of new markets aims to enter new markets with the current products that the company has, for this it is necessary to carry out market research because the effectiveness of this strategy will be linked to the valuation of current products in the new market. .
These new markets do not necessarily have to be geographic, but can be targeted at a different segment of consumers or even markets that are just developing.
6.3 Product development
The third quadrant of product development has…
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