Question 1 Australian exports (goods and services) along with its top 8 export markets in…
Problem Solving in Business
Managing a business or even starting one depends to a great extent upon problem-solving. Some people solve problems easily while some people struggle when confronted with problems or issues. Businessmen who effectively solve problems are usually quite good in satisfying their customer requirements. The thing is that every business is about solving problems because they know that if they cannot solve their problems, they will soon to be out of business. Problems are a usual part of business. Minor problems can easily snowball into large ones if timely and appropriate action is not taken.
There are some tried and tested guidelines that can help to solve problems easily and effectively: Define the problem before jumping into action. Clarity of the sensitivity of the problem is the first step in problem solving. Always have an alternative or plan “B” for every problem. There might be some factors that cannot be changed. These cannot be called problems but facts of life. However, successful businessmen treat every problem as an opportunity for better achievements. Look for challenges in every situation and problem. Be wary of any problems which are defined in only one way.
The more definitions there are for a problem the better the chances of finding an excellent solution. If sales have decreased, look for the solution with your competitors, hopeless advertising or a poor sales team. Find out all that is possible about the cause of the problem instead of solving visible issues. If the problem is not tackled at the root, it will probably occur again and time and resources will be wasted in resolving the problem. The best thing to do would be to have multiple solutions to a single problem. The quality of the solution must be in direct proportion to the amount of solutions that have been considered in solving it. Prioritize probable solutions because the solution that seems to be the best now is usually better than a complicated solution with a longer time and higher costs.
The rule is that the large problem was once small and solvable. Once a solution has been decided upon, stick to it. The longer it takes to make a decision the higher the cost with a larger impact. The objective is to deal with problems immediately. This is effectively done by delegating responsibility for the different stages of the problem. If this is not done, then there will be no recourse but to do everything yourself. Setting a benchmark for the solution otherwise, the businessman will not know if the problem has been solved satisfactorily.
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