We Help Organizations Improve Strategy & Planning, Performance Management and Decision-Making
Advanced Methods Will Make a Difference
Functional- and industry knowledge still dominate methodological competence in management consulting: a long list of problem areas will tell you where a consultant feels at home. In a footnote you might find the explicit mentioning of the fact that “current or even advanced methods” will be applied.
Taking a closer look will tell another story: the rule of three in many facets, comparative statics and linear models in big spreadsheets, some optimization, some statistics (mostly descriptive and with a focus on comparisons) and a lot of good old “common sense” – all of it on beautiful stationary.
BSL MANGEMENT SUPPORT begs to differ:
- We trust that your organization does have a lot of relevant functional- and industry knowledge which by participation can be exploited.
- Participation will increase the probability of successful implementation and change.
- We help you select and apply appropriate tools and instruments.
- We support any kind of enterprise or organization across functions in their
- Strategy & Planning
- Performance Management
Our work builds upon the following competencies:
Business Simulation (BS)
How to deal with (dynamic) complexity?
Simulation ensures “consistency in planning” as operational processes will be causally linked to financial outcomes and performance indicators in a realistic fashion – mere number games and extrapolations will be avoided.
While simulation is mostly applied at an operational level, we would like to go further and demonstrate that this powerful instrument will be especially useful in Strategy & Planning. It will provide a lot of added value in comparison to more conventional tools like Balanced Scorecards, Value Tree Analysis, and Scenario Planning.
How to deal with uncertainty?
How do new data change what we know?
Bayesian statistics rectifies “classical” frequentist statistics: measurement data are considered certain, whereas model parameters are uncertain due to lack of knowledge. Business executives will not need a recourse to infinite repetitions of identical experiments to explain uncertainty. Instead valuable prior knowledge from earlier data and research, but also from the expertise within the “minds” of your organization, can be exploited to measure the odds right now. Bayes Rule will nicely update all prior knowledge as new information and data become available – a modern take on learning.
Download a →Brochure or a full-size →White Paper about how you can directly tap into the hidden knowledge within your organization.
Most relevant from a practitioners point of view: Bayesian statistics can often be applied in areas, where conventional statistical procedures fail. It often delivers better results, which are then easier to interpret and communicate.
In our work learning happens on three levels:
- Models are better parameterized, improved or changed based upon new data,
- Decision makers learn from interaction with business models,
- Organizations eventually change based upon widespread change of thinking.
MANAGEMENT SCIENCE (MS)
Which methods best support decision making and problem solving?
Management Science and Operations Research (OR/MS) provide a multitude of models and problem solving approaches to support decision-making. Their scope is in fact so vast, that there very likely does not exist a functional area or industry, which might not benefit from this powerful set of tools.
BSL MANAGEMENT SUPPORT strives to be your guide in the “confusing variety of instruments” with a special focus on dynamic and stochastic modeling. For us smartly combining “humans and machines” has a special appeal.