Enhance your strategic decision-making with the PRICE Hypothesis Generation Framework. Created by industry experts, this PPT offers actionable insights for executives.
This product (PRICE Hypothesis Generation Framework) is a 15-slide PPT PowerPoint presentation slide deck (PPT), which you can download immediately upon purchase.
Forming a coherent hypothesis is an instrumental tool when analyzing and addressing any business problem. It is a common approach used by management consultants. When evaluating any new, abstract business problem, it is wise to begin by forming an hypothesis related to the problem.
A popular consulting framework for forming a hypothesis is PRICE. PRICE is used by strategy consulting firms like McKinsey, Bain, and BCG. It can be used to test a hypothesis, determine if the hypothesis is valid, and answer questions, like, Does the hypothesis make sense? Should it be discarded? Should it be reworded?
This document explains the PRICE framework and provides template slides to be used in your own presentations.
The PRICE Hypothesis Generation Framework document is an essential resource for executives seeking to sharpen their problem-solving skills. It provides a structured approach to hypothesis formulation, ensuring that all critical aspects of a business problem are considered. This framework helps in framing the problem accurately, bringing out the right questions, and drawing out the right discussions, making it a valuable tool for strategic decision-making.
The document includes a comprehensive overview of the PRICE framework, breaking down each component—Problems, Restrictions, Individuals, Criteria, and Environment. Each section is designed to guide you through the process of hypothesis generation, ensuring that no stone is left unturned. The framework's methodical approach ensures that your hypotheses are robust, actionable, and aligned with your business objectives.
Included in the document are template slides that can be directly used in your presentations. These templates are designed to be easily customizable, allowing you to tailor them to your specific needs. By using these templates, you can streamline your hypothesis generation process, making it more efficient and effective. This document is a must-have for any executive looking to enhance their strategic planning and problem-solving capabilities.
Got a question about the product? Email us at support@flevy.com or ask the author directly by using the "Ask the Author a Question" form. If you cannot view the preview above this document description, go here to view the large preview instead.
Source: Best Practices in Hypothesis Generation PowerPoint Slides: PRICE Hypothesis Generation Framework PowerPoint (PPT) Presentation Slide Deck, PPT Lab
This PPT slide outlines a structured approach to formulating hypotheses by addressing 3 critical questions. This framework is essential for ensuring that hypotheses are comprehensive and actionable. The first question, "What is creating the phenomenon?" prompts the analyst to identify the underlying causes or factors contributing to the observed situation. This step is crucial for establishing a foundation for further exploration.
The second question, "What is the observable phenomenon?" encourages a clear definition of what is being studied. This involves identifying specific metrics or indicators that can be measured, allowing for a more objective analysis. By focusing on observable elements, the hypothesis gains clarity and direction.
The third question, "What is the outcome of the phenomenon?" shifts the focus to the implications or results of the identified phenomenon. Understanding the outcomes helps in assessing the potential impact and relevance of the hypothesis. This structured inquiry not only aids in hypothesis generation, but also facilitates deeper analysis and strategic decision-making.
The arrows connecting the questions suggest a flow of logic, indicating that each question builds upon the previous one. The slide also includes prompts for further elaboration, such as "Due to..." and "Resulting in...," which guide the user in articulating the relationships between causes, observable phenomena, and outcomes. This structured approach is particularly valuable for executives looking to enhance their strategic thinking and ensure that their hypotheses are robust and well-founded.
This PPT slide presents the PRICE framework, a structured approach for dissecting a hypothesis into 5 key components: Problems, Environment, Criteria, Restrictions, and Individual. Each component serves a distinct purpose in guiding strategic decision-making.
The central focus is on identifying the Problems to be solved. This is the initial step, emphasizing the importance of pinpointing 1-3 high-level questions that will steer the analysis. An example provided illustrates this by asking how to leverage channel advantages against competitors.
The Environment context is crucial, as it sets the stage for understanding the client or industry situation. This contextual information is necessary to frame the problem accurately.
Criteria for success are outlined next, stressing the need for specificity in defining these criteria. This ensures that the goals are clear and measurable, although it is noted that these criteria can evolve over time.
Restrictions on scope and hurdles are also highlighted. Keeping these at a high level, related to the original problem statement, is essential for maintaining focus. An example indicates that product return on capital employed (ROCE) should exceed a certain percentage, which serves as a tangible benchmark.
Lastly, the Individual component addresses the decision-makers involved. It’s important to recognize that different levels of decision-makers require varying degrees of detail. This understanding aids in tailoring the communication and analysis to meet the specific needs of each stakeholder.
Overall, the PRICE framework offers a comprehensive method for breaking down complex hypotheses into manageable parts, facilitating clearer strategic discussions and decision-making.
Enhance your strategic decision-making with the PRICE Hypothesis Generation Framework. Created by industry experts, this PPT offers actionable insights for executives.
PPT Lab is a presentation design firm specializing in business frameworks and PowerPoint templates. Our team is comprised of ex-consultants from McKinsey, E&Y, Bearing Point, and boutique consulting firms. We have worked with hundreds of clients globally, ranging from mid-size manufacturing companies to global Fortune 500 conglomerates.
All of our documents are of the
... [read more] same quality produced by top-tier consulting firms and utilize the Consulting Presentation Framework.
The average daily rate of a McKinsey consultant is $6,625 (not including expenses). The average price of a Flevy document is $65.
Trusted by over 10,000+ Client Organizations
Since 2012, we have provided best practices to over 10,000 businesses and organizations of all sizes, from startups and small businesses to the Fortune 100, in over 130 countries.
Read Customer Testimonials
"As a consultant requiring up to date and professional material that will be of value and use to my clients, I find Flevy a very reliable resource.
The variety and quality of material available through Flevy offers a very useful and commanding source for information. Using Flevy saves me time, enhances my expertise and ends up being a good decision."
– Dennis Gershowitz, Principal at DG Associates
"I have used Flevy services for a number of years and have never, ever been disappointed. As a matter of fact, David and his team continue, time after time, to impress me with their willingness to assist and in the real sense of the word. I have concluded in fact
that it is not at all just a repository of documents/resources but, in the way that David and his team manage the firm, it is like dealing with consultants always ready to assist, advise and direct you to what you really need, and they always get it right.
I am an international hospitality accomplished senior executive who has worked and lived during the past 35 years in 23 countries in 5 continents and I can humbly say that I know what customer service is, trust me.
Aside from the great and professional service that Flevy's team provide, their wide variety of material is of utmost great quality, professionally put together and most current.
Well done Flevy, keep up the great work and I look forward to continue working with you in the future and to recommend you to a variety of colleagues around the world.
"
– Roberto Pelliccia, Senior Executive in International Hospitality
"I am extremely grateful for the proactiveness and eagerness to help and I would gladly recommend the Flevy team if you are looking for data and toolkits to help you work through business solutions."
– Trevor Booth, Partner, Fast Forward Consulting
"Flevy.com has proven to be an invaluable resource library to our Independent Management Consultancy, supporting and enabling us to better serve our enterprise clients.
The value derived from our [FlevyPro] subscription in terms of the business it has helped to gain far exceeds the investment made, making a subscription a no-brainer for any growing consultancy – or in-house strategy team."
– Dean Carlton, Chief Transformation Officer, Global Village Transformations Pty Ltd.
"As a consulting firm, we had been creating subject matter training materials for our people and found the excellent materials on Flevy, which saved us 100's of hours of re-creating what already exists on the Flevy materials we purchased."
– Michael Evans, Managing Director at Newport LLC
"FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The
quality of the decks available allows me to punch way above my weight – it's like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.
"
– Roderick Cameron, Founding Partner at SGFE Ltd
"The wide selection of frameworks is very useful to me as an independent consultant. In fact, it rivals what I had at my disposal at Big 4 Consulting firms in terms of efficacy and organization."
– Julia T., Consulting Firm Owner (Former Manager at Deloitte and Capgemini)
"FlevyPro provides business frameworks from many of the global giants in management consulting that allow you to provide best in class solutions for your clients."
– David Harris, Managing Director at Futures Strategy
Download our free compilation of 50+ Strategy & Transformation slides and templates. Frameworks include McKinsey 7-S, Balanced Scorecard, Disruptive Innovation, BCG Curve, and many more.
Download our free compilation of 50+ Strategy & Transformation slides and templates. Frameworks include McKinsey 7-S, Balanced Scorecard, Disruptive Innovation, BCG Curve, and many more.
Click main image to view in full screen.
