Critical Thinking in Business

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IntroductionforFinalPaperCriteria.docx

Introduction for Final Paper & Problem Statement Draft

Introduction for Final Paper & Problem Statement Draft

Criteria

Ratings

Pts

This criterion is linked to a Learning Outcome Thoroughly explained what business-related problem was chosen for the final paper and the reason why.

50 / 50.0 pts

This criterion is linked to a Learning Outcome Included problem-statement draft with the required four elements.

0 / 40.0 pts

This criterion is linked to a Learning Outcome Grammar/Spelling/Grammatical

Please note that .5 points are deducted for each error to a maximum of 10 points.

10 / 10.0 pts

Total Points: 60

Lecture

Problem-solving Model

Last week, you started working on step one of the problem-solving model (identifying the problem). You began this by starting to analyze the problem (step two).

The next step is to write a problem statement that clarifies the problem. Further, once you analyze the problem, be sure to identify the problem (not just the symptom).

Analyzing a Problem

When analyzing a problem, it is critical to gather as much information as possible. This will help you to determine what the problem is.

To start analyzing a problem, it is best to begin by talking to those who are aware of the problem (stakeholders) and/or others who might be able to shed some light on the problem. As such, begin by talking to your co-workers and/or boss. As a side note, do not rely on your boss for the answer. Quite often, those who are directly affected by the issue will provide more information. Also, be aware of people stating opinions and not stating facts. For example, “We are behind with accounts payable because there is not enough time during the day to do our jobs!” This might be true, but if most people that you talk to do not state the same opinion, then more information is needed.

When talking to people, ask questions that will help you to clarify the problem. If this is an internal problem (i.e., accounts payable is behind, people are often late to work), then there is no need to conduct external research.

However, if it is not evident that this is an internal problem, it could be that this is an external problem. For example, if sales are down, conduct research to determine if sales are also down in the industry. An easy way to do this is using the Internet – Google is a great source to use!

Understanding how to analyze a problem will help you with one of this week’s discussion topics. In addition, it will aid you when completing the final project.

Problem Statement

After you realize what the actual problem is, it is best to write a problem statement. This is necessary if you are trying to convince other people that there is a problem. If you are not involving others, a problem statement is still valuable for reminding you of what the problem is.

There are different ways to write a problem statement. Please refer to the resources in this week’s overview.

That said, be sure to include the following:

· Ideal situation – What is the goal? For example, invoices from vendors should be paid within 30 days.

· Summarize the problem – Provide a brief explanation of the problem. For example, invoices are being paid beyond the 30-day requirement.

· Symptoms – What are the symptoms of the problem? Vendors are complaining!

· Consequences – What will happen if the problem is not solved? Explain how the problem not being resolved will impact the company. For example, if invoices are not paid on time, it is possible that vendors will not renew their contracts.

Understanding how to write a problem statement will help you with this week’s assignment.

Symptoms versus Problems

There is often confusion between symptoms and the actual problem. Symptoms are what make a person aware that there is a problem. However, the symptom(s) might not indicate the true problem. In fact, there might be more than one symptom!

For example, Company XYZ is behind with shipping out orders. Sure, this is an issue, but it might be a symptom. After checking into the problem, you find out that the department is short staffed. After further investigation, you find out that the manager left and as he was well liked, so employees left. That might be the end of it, but you might want to investigate further. For example, why did the manager leave?

Understanding the differences between symptoms and problems will help you with this week’s discussion. In addition, it will help you to determine the true problem for your final paper.