Question
The MECE principle, which stands for Mutually Exclusive, Collectively Exhaustive, can be used to enhance business growth by ensuring that all aspects of a business problem or opportunity are considered without overlap. This can help to identify areas for growth or improvement that might otherwise be overlooked. For example, in the context of calculating company profits, the MECE principle can be used to break down revenues and costs into their individual components, ensuring that all potential sources of revenue and costs are considered.
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Using a math formula can work really well to break down a framework in a MECE way because math formulas are MECE by nature, the consultants say. For example, to calculate company profits, keep in mind that Profits = Revenue - Costs, where Revenue is Units sold and Price per unit and Costs is Fixed cost and Variable cost.
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