Seven problem solving models used in the digital age

Written by Olwethu Nobleman Ndzimela``

BCom Business Management

University of Johannesburg

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Abstract

Problem-solving has been the result of failure for most personal, product, and corporate professions within respective industries. It better solves processes and brings about solutions to cultivate corporate growth and strategically align alternatives to minimize risks that corporate ventures may encounter in the short and long term. It answers the questions on why, what, how, and when to formulate, implement, and evaluate a current and prospective problem before occurring.

Problem solving techniques identify threatening issues, gather the needed data to test the hypothesis, analyze data through using effective methods like the SWOT/TOWS analysis, brainstorm solutions and test competent ideas, and involves evaluating your outcomes to present your findings.

This article will briefly explain the different strategic problem-solving techniques effective in the digital age of the twentieth century, to assist your personal, product, or corporate professions not only to think about solutions but to also adopt strategic solutions in the midst of finding a viable solution to a problem.

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Theme

Problem-solving, strategic solutions, personal, product, corporate, SWOT/TOWS analysis, corporate growth, formulate, implement, evaluate, brainstorming, hypothesis testing

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Introduction

Problem solving is the process of finding solutions to a problem through formulating an analysis, implementing assumptions to prove their evidence, and evaluating those assumptions to either acquire more data or to prevent such problems from occurring again through a monitored management system.

Problem-solving techniques are a fundamental building block to execute threatening obstacles that enable your business to reach strategic goals. Such problem-solving techniques include, among others, problem-solving models, board strategy processes, risk management processes, and management decision processes.

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Body

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Five problem-solving models:

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1.????? Problem solving model

Problem-solving method involves a procedure that is focused on solving a specific problem using a step-by-step process to formulate, implement, monitor, understand, and evaluate to successfully reach a conclusion.

It includes tools such as, among others, statistical tools (descriptive statistics and inferential statistics) and problem-solving skills (brainstorming, creativity, analysis, and research).

The six steps for problem-solving are as follows:

·???????? Define the problem

·???????? Clarify the problem

·???????? Formulate multiple solutions

·???????? Select a solution

·???????? Implement the solution

·???????? Evaluate the outcome

Through these steps, personal, product and corporate problems can be solved through identifying the problem, researching about the problem, analysing the problem and finalising the problem solution with an outcome through a conclusive conclusion.

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2.????? Board strategy process

A board strategy process is defined as a process of using metrics which measure its progress through implementing its strategic process. This strategy is made for the board of directors, such as, among others, the chief executive officer, chief financial officer, and chief operating officer to balance and optimize its resources in their pursuit of implementing their strategic planning like the company’s mission and vision, and strategic projects.

It involves assigning duties to prospective members of the board or team to achieve short-term, medium-term, and long-term strategic plans.

Seven steps of the strategic planning process:

·???????? Analyse the current organizational strategy

·???????? Identify business needs, goals, and objectives

·???????? Collect current and supportive data

·???????? Review collected data

·???????? Set a strategic plan

·???????? Implement and monitor the execution phase

·???????? Report the outcome

The board strategy process is a vital tool for your organisation as it filters down from top-management level to medium-management level, onto low-management level. It allows the organisation to revisit and redefine its objectives, goals, values, company culture, mission, vision, policies, management roles and plans.

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3.????? Risk management process

Risk management involves the management of current, expected, and foreseen risks of your business. It includes specialized techniques to analyze, scan, observe, and interpret data or the working environment to determine potential hazards that can either impact the organization financially or systematically.

The risk management includes four pillars:

·???????? Identify the risk

·???????? Analyse the risk

·???????? Treat the risk

·???????? Monitor and report the risk

To effectively manage or minimize organisational risks, especially at early-stage start-ups, you should have three skills, firstly, to understand and interpret your cash flows, secondly, to learn how to manage people, and lastly, to be able to design and operate on a business system.

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4.????? Management decision process

Management is the pinnacle of the business success. It works closely with the leadership roles of the organization in fostering innovation and implementing the planned goals and objectives.

As such, to effectively and efficiently implement and make decisions about the goals and objectives formulated by the leadership roles such as the chief executive officers and chief operating officer, the management level must adapt the seven steps to decision-making processes.

Seven steps to decision-making processes:

·???????? Briefly identify the decision

·???????? Gather information and data

·???????? Identify alternatives to decision-making processes

·???????? Measure the evidence

·???????? Choose the best possible solution

·???????? Implement through action

·???????? Reflect and analyse outcome

These seven steps to decision-making processes assist management to make effective decision about daily, weekly or monthly operational activities including making decisions concerning new products or services, strategic planning, partnerships and alliance decisions, and so on.

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Conclusion

Problem-solving techniques identify threatening issues, gather the needed data to test the hypothesis, analyze data through using effective methods like the SWOT/TOWS analysis, brainstorm solutions and test competent ideas, and evaluate your outcome to present your findings.

Problem-solving techniques are a fundamental building block to execute threatening obstacles that enable your business to reach strategic goals. Such problem-solving techniques include, among others, problem-solving model, board strategy processes, risk management process, and management decision processes.

Risk management is done to effectively manage or minimize organizational risks, especially at early-stage start-ups. Three skills are important, firstly, to understand and interpret your cash flows, secondly, to learn how to manage people, and lastly, to operate through a business system.

Lastly but not least, it is argued that if you know what you are doing, these no need for adequate risk management procedures or a sophisticated budget.