Business management tools

There are tools related to each organization's department which can be classified for each aspect of management.^[3] For example: planning tools, process tools, records tools, employee related tools, decision making tools, control tools, etc. A classification by function would consider these general aspects:

• Tools used for data input and validation in any department.
• Tools used for controlling and improving business processes.
• Tools used for data consolidation and decision making.

Nowadays, management tools have evolved dramatically in the last decade thanks to fast technology advances, so fast that it is difficult to select the best business tools for any situation in any company.^[4] This is caused by a never-ending fight for lower costs and increase sales, the willingness for understanding the customers' needs, and the fight for delivering the products that meet their need in the way they require.

Under this scenario, managers should take a strategic attitude to business management tools instead of going for the latest tool. Usually, managers rely on the tools without any adaptation which leads to an unstable situation. Business management tools should be selected carefully, and then adapted to the organization needs and not the other way around.^[5]

In 2013, a survey conducted by Bain & Company^[5] showed how business tools are used around the globe. These tools reflect how their outcomes contribute to each region's needs, considering the downfall and companies' market situation. The top ten includes:

• Strategic planning
• Customer relationship management
• Employee engagement surveys
• Benchmarking
• Balanced scorecard
• Core competency
• Outsourcing
• Change management programs
• Supply chain management
• Mission statement and vision statement
• Market segmentation
• Total quality management