A framework is a structured foundation or set of guidelines used to support or develop something. Its meaning varies depending on the context:
- Software Development: A pre-established structure of code that provides reusable components and best practices for building applications (e.g., React, Django).
- Business & Management: A strategic system or model used to organize processes, decision-making, or problem-solving (e.g., SWOT analysis, Agile framework).
A business and management framework is a structured model or methodology that provides standards, principles, and best practices for organizing, analyzing, and improving business operations, decision-making, and strategy. These frameworks help businesses achieve efficiency, scalability, and competitive advantage.
Examples include:
- SWOT Analysis – Evaluates strengths, weaknesses, opportunities, and threats.
- PESTLE Analysis – Assesses external macro-environmental factors (Political, Economic, Social, Technological, Legal, Environmental).
- Balanced Scorecard – Aligns business activities with vision and strategy through performance measurement.
- Porter’s Five Forces – Analyzes industry competition and profitability.
- Agile & Scrum – Frameworks for project management and iterative development.