Mutually Exclusive (ME) items in a business context could be different strategic options that a company can take, but each one excludes the others. For example, a company might choose to either invest in a new product development or expand into a new market, but it can't do both due to resource constraints. Collectively Exhaustive (CE) items could be all the possible reasons for a drop in company profits. This could include factors like decreased sales, increased costs, loss of a major client, or new competition in the market.
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