DMAIC (an acronym for Define, Measure, Analyze, Improve and Control) (pronounced də-MAY-ick) refers to a data-driven improvement cycle used for improving, optimizing and stabilizing business processes and designs. The DMAIC improvement cycle is the core tool used to drive Six Sigma projects. However, DMAIC is not exclusive to Six Sigma and can be used as the framework for other improvement applications.
The growth–share matrix (aka the product portfolio, BCG-matrix, Boston matrix, Boston Consulting Group analysis, portfolio diagram) is a chart that was created by Bruce D. Henderson for the Boston Consulting Group in 1970 to help corporations to analyze their business units, that is, their product lines. This helps the company allocate resources and is used as an analytical tool in brand marketing, product management, strategic management, and portfolio analysis. Analysis of market performance by firms using its principles has recently called its usefulness into question.
Bruce Doolin Henderson (1915–1992) was the founder of the Boston Consulting Group (BCG). Henderson founded BCG in 1963 in Boston, Massachusetts. He headed the firm as President and CEO until 1980 and stayed on as Chairman until 1985.