ABP

The fear of ABP (Analysis of Business Problem) as a Course in Masters of Business Management Program is the beginning of the journey into the Master’s Program at Lagos Business School. When I resumed the class for Analysis of Business Problem class, I thought it was going to be piece of cake until we started analyzing business cases with figures. Then it dawned on me that the use of figures that I tried to avoid has finally caught up with me. Some business cases deals so much with figures and I had to reset my brain to become accustomed to working with figures.

When we worked on a business case about “The Future of BioPasteur”, I thought that the assignment was a done deal until we analyzed the same business case in class with different perspective and individual insights. The deal breaker was when we arrived at the core of discussion. Clarification was sought on what is to be expected and the whole business case was completely analyzed.

Part of the lessons learnt while analyzing was that one should try to explore different questions about the “What, When, Why, Where, Who, How and so on” of the case scope. This would help summarize the entire business case which would in turn assist to identify the problem to be solved. One of the most important things to be considered when analyzing business problems is to ensure that one pays attention to details when reading the business case. To ensure that the business brief is well digested, all diagrams and figures noted.

It is important to pay attention to details so as not to miss the essentials that would assist to arrive at the expected / desired solution. Sometimes, the solution might even lie in the financial analysis of the case. It is expected that there must be points to justify the recommendation. Sometimes, during the analysis of the business case, one may be faced with the short-term solution to the problem.

As a future analyst, the onus is on us to carefully read, digest, analyze and proffer solution to the business case. One should think critically to ensure a realistic conclusion with realistic solutions. Before I forget, it is easier to analyze and discus business problems without putting it into writing. This is so convenient but after analyzing two different cases in class, I personally realized that jotting out the salient points while reading helps me to pay attention to details and also to digest business cases.

As a successful business manager, one of the most important skills is to able to successfully manage any situation that may occur at any phase of running the business. Though, in the present times, Business Leaders reach out to consulting firms for assistance. However, it is best for each organization to have their own team of Business Analysts.

Analysis of business management as a course empowers us with the skills to make Business decisions based on available information and data in our disposal

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