When you talk of frameworks in business arena, it is often seen as a complicated idea or an MBA jargon used by consultants to attract clients. But as a matter of fact, it has become an indispensable term in the industry. One of the biggest contributions by mathematics to business is geometry. Why do I say that? Geometry has helped us define boundaries. Be it a rectangle, a triangle, a circle and what not – all geometric shapes have definite boundaries. So what is its significance to business? Yes I am getting to that. Business runs in a very complex environment. The variables surrounding any business are numerous and are scattered all over. So unless you set a boundary, there is no chance for you to know and understand “what to consider” and “what not to”. It is like you are in an ocean without a compass or a satellite map. Framework gives you an edge by providing a structure to your business.
Framework etymologically is frame(n) + work(v). I will base my concept with the three basic geometric shapes (circle, rectangle & triangle) to make it simple and lucid. While a circle with the largest area among the shapes helps capturing as many variables as possible, a rectangle helps defining the axis and a triangle in setting a base and moving towards that one defining variable on the top. There are plenty other geometrical shapes that would help us to customize and define the variables for our business needs. So do the frameworks help in defining boundaries alone? The answer is a clear “NO”. In the fast changing business environment, continuous improvement is the key for the future. Framework works a tool to asses, modify and adapt to the new requirements of the ever-changing business environment. It gives you a sense of focus and a direction towards the road ahead. No wonder renowned consultants are obsessed with frameworks.