Question
The MECE principle, which stands for Mutually Exclusive, Collectively Exhaustive, is important in consulting because it ensures that all possible options or scenarios are considered without any overlap. This principle helps in structuring problems and solutions in a way that is comprehensive and avoids any redundancies. In the context of the provided content, it is used to break down a framework in a way that is clear and concise, such as breaking down company profits into revenue and costs, and further breaking down those categories.
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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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