Unit 8 Forum
Solving Business Problems
with Mike Figliuolo
Exercise Handout
Solving Business Problems with Mike Figliuolo
2 of 6
The Problem Solving Process
Output Clearly defined problem statement with success criteria
Output Factors and issues affecting answer defined and categorized
Output Possible solutions scoped as hypotheses and most likely answers chosen for analysis
Output Deep analysis of hypothesized answers. Paths either confirmed or eliminated with data
Output Synthesis of data into a clear, structured and compelling recommendation
Pin th e Prob
lem Identi
fy All Issues
Best Guess Analyze the Paths
Conceptual Thinking Cri tical T
hinkin g
Pitch a Recommendation
Solving Business Problems with Mike Figliuolo 3 of 6
Pin the Problem - Pinning Questions What is the high level problem?
Answer focusing questions
What is the objective?
Who are the stakeholders/influencers?
How will you measure success?
What will be the specific scope?
What constraints exist?
Evaluate prior efforts
Has this problem been considered in the past? What’s different now?
Were there any challenges last time this was addressed?
What ingoing assumptions limit our thinking?
Who was involved in the problem solving?
Derive insights from new lenses
What are the perspectives of the CEO, front line staff, customers?
What is the 10,000 ft. view vs. the 50 ft. view?
Can you reimagine the problem in new ways?
What happens if you remove built-in constraints?
Understand relevant causalities
Are elements of the problem derived from other elements?
What are the root causes of this problem?
Is there actually a deeper or preceding problem?
Are there repercussions to anticipate?
Are there chronology/sequence issues relating to the problem?
Solving Business Problems with Mike Figliuolo
4 of 6
The Problem Solving Process
Sort aspects of the problem into distinct/complete categories by function or theme
Some will be related. Others will be different enough to merit a separate category
Limit number of primary categories for easy map-making Solving Business Problems with Mike Figliuolo
Product A
Sales Product B
Product C
Region 1
Sales force Region 2
Region 3
Short term
Strategy Mid-term
Long term
Revenues
Profits
Costs
Segments
Current customers
Prospect customers
Financial
Challenges Marketing
Strategy
Solving Business Problems with Mike Figliuolo 5 of 6
As You Analyze, Pick the Best Paths in the Least Time
“High Road” – Look from Above
Always revisit your Best Guess and the “pinned” problem
Estimate expected rewards before you start detailed analysis
Use 80/20 and back-of-envelope thinking
Use experts as data sources
Share good ideas
Test your thinking
“Low Road” – Evaluate the Ground
Only run the numbers you need to run
Don’t wander into the weeds for too long
Beware of “polishing dirt”
Focus your attention on only the best paths
Get back on the high road regularly to regain perspective and get out of the details
Trust your gut! Take risks!
Solving Business Problems with Mike Figliuolo 6 of 6
Guiding Principles on Assertions
Assertions are truths stated for persuasion
Assertions are clear, explicit and direct – the audience knows where you stand
The difference between a strong assertion and a weak opinion is the facts
In a conflict of assertions, the best evidence wins
Once an audience agrees with your assertion’s proofs, controversy disappears