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Making the most of management tools and techniques: a survey from Bain & Company
Author(s) -
Rigby Darrell,
Gillies Crawford
Publication year - 2000
Publication title -
strategic change
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.527
H-Index - 16
eISSN - 1099-1697
pISSN - 1086-1718
DOI - 10.1002/1099-1697(200008)9:5<269::aid-jsc507>3.0.co;2-i
Subject(s) - business , management , operations management , economics
Contemporary management tools and techniques such as market disruption analysis and knowledge management all promise to make managers more successful in a digital age, so why are firms not using them much these days and why are they not satisfied when they do? The answer, according to Bain & Company’s 1999 international survey of management tool usage, is that the new economy is growing so fast that managers have neither the time nor the resources to experiment with tools that would alter the way they run their businesses. Instead, they are sticking with the ‘classics’, the tried and tested tools that have a practical and immediate impact. Companies worldwide are using fewer tools—an average 10.9 per company compared with 13.4 in 1998—according to Bain’s latest tools and techniques survey. It profiles the use and the satisfaction ratings of 25 management tools. Follow up interviews with survey respondents indicates that the Internet may be the principal reason for this decline. Management tools can be useful but using them successfully to increase a company’s performance requires time and resources. Furthermore, many managers feel pressured for both as they try to keep pace in an accelerating economy. With Management tools can be useful but using them successfully requires time and resources