This definitely has to be Analysis of Business Problems (ABP). Kai!!
So, it’s not like the ABP is difficult because it’s hard to comprehend, but it is difficult because I cannot exactly articulate the reason I find it difficult. However, the course has certainly made my dissection of case studies a lot more critical.
Here are few of my major learnings from the course
Organizations are faced with problems, and there has to be ways of solving them. Analysis of Business Problems provides a guide on the process of handling those problems in order to make informed decisions. Below is a step-by-step process. Note: The list is not exhausting.
- Understand the Situation.
- Identify and define the problems
- Define your Objective.
- Generate Alternatives
- Identify Criteria Considerations/ Limitation.
- Analysis the alternative and decide
- Develop an action
Understand the situation.
This is the point you identify and collect relevant information, you ask questions to determine the What, Where, When, Who, and How. This is when you have a full understanding of the problem confronting the organization. This stage enables us to determine relevant and irrelevant information.
Identify and define the problems.
We can see a problem as an opportunity or a deficiency. Identifying the right problem is key, as this will enable you to develop the right approach to solving it. Avoid confusing symptoms with the problem.
Define your objectives
The goal to be achieved must be clear, this will help eliminate any conflict that may arise from different perspectives.
Generate Alternatives
Holding a brainstorm session provides a useful source of alternative. Having a group discussion brings about different perspectives, which can be fine-tuned to suit the defined objective.
Identify Criteria Considerations / Limitation.
These are the conditions that the alternatives must meet to attain established objectives. Most times, criterions are not always financial, the context of the problem gives an indicator on the likelihood of the source problem.
Analysis of the alternatives and decide.
Evaluate the alternatives using the established criteria. You establish the qualitative and quantitative issues
Develop an action plan.
Solutions begin after a decision has been taken, a proper implementation process is also key to effect the action plan developed.
Well, cheers to more ABP classes.
GOD CALLING