Analyzing of business problems is indeed a problem in itself. This, I am able to categorically state having done circa seven weeks of analyzing hypothetical business problems in the EMBA class of LBS. On the second day of orientation, this topic was introduced to the class. I had thought it was just going to be an introduction, but NO. I was wrong! We were expected to start treating cases and resolving problems for companies immediately.
I must say though, that this is one of the courses in the EMBA class that excites me; at least initially. However, the last couple of classes have been tough. Having to examine and analyze business problems on the fly… in barely thirty minutes! Believe me, the problems are often complex. And like trying to decipher the problems isn’t enough trouble in themselves, Mr. Shogbamu will then say, “work the numbers”. At that point, I basically always feel like signing off; because for one, numbers is not my thing. Within me, I would silently wish he lets us stop at the qualitative analysis. Must we really quantify these problems? Especially that most often than not, the solutions often remains subjective anyway.
Don’t get me wrong, this is one of the best courses on EMBA, if only we could take it slow and steady and gradually ramp up. However, with what we do at the moment, analyzing two to three cases in a class, is quite daunting and I just feel we can do better analysis than what we often churn out, which to my mind, is no better than a tick in the box.
While I cannot quantify how much learning has taken place so far, a few things have come to stay. One is that, solving business problems should be done methodically. I have come to know the importance of using the PROACT model. This means for any business problem, it is important to understand the context, before proceeding to identify the problem. Also that the objective of analyzing is often inverse to the problem identified. Important also, is the need to determine the criteria against which alternatives will be accessed and then generating the alternatives in themselves. Post generating the alternatives, the consequence(s) of each alternative, the risks and the trade-offs need to be considered as well, prior to proffering a solution.
The one thing I cannot forget from the “analysis of business problems (ABP)” class though is that the eventual solution proffered is not as important to Mr. Shogbamu, as the rigor and detail of the analysis done. All in all, I do hope to take back to my workplace, the learning from this course. Not only to my workplace, but I am eager to apply the principles to analyzing everyday problems, for making informed decisions. But more importantly, like we do in the ABP class, I do hope that at the end of this course, the application of the ABP principles; become second nature to me, such that I am able to apply the principles in a jiffy, to make quick and accurate decisions.
EMBRACE DIGITIZATION