The Bain 2005 management tool survey

Purpose – The past dozen years in business have witnessed an explosion in the use of management tools and techniques. Keeping up with the tools and deciding which ones to use have become an essential part of every executive's responsibilities. Design/methodology/approach – In 1993, Bain & Company launched a multiyear research project to get the facts about management tool use. Over 12 years Bain assembled a global database of more than 7,000 respondents, including 960 this year. They supplement the survey with follow‐up interviews to probe the specifics of tool use in individual companies. Findings – This year, the news is that executives are using more tools for acquiring customers, keeping them, learning more about what they want, and then satisfying and delighting them. They know they need tools to innovate, but they are not entirely sure how to go about it. To free up cash, they are outsourcing like crazy. And they are relying on information technology to run their businesses more efficiently. Research limitations/implications – This survey formerly was done annually and now is taken every other year. Practical implications – Managers who promote tool fads undermine employees' confidence that they can create the change that is needed. Executives are better served by championing realistic strategic directions – and viewing the specific tools they use to get there as subordinate to the strategy. Originality/value – Without satisfaction and usage data from companies that have adopted management tools, choosing and using them becomes a risky and potentially expensive gamble.