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In the previous two activities we practiced critical thinking, attention to detail, and data interpretation skills. In the final activity for Module 2, we’ll focus on understanding the situation.
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The reason we left understanding the situation to the last is that it is inclusive of all the previous steps and then some. Each problem you encounter in business is different. Some are straight forward, and some are very ambiguous. Your expert sleuthing skills may be required to uncover what is really happening.
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Oftentimes business problems are caused by multiple, dynamically changing variables and are governed by very nebulous, intangible circumstances like employee attitudes. Other circumstances might be outside of your control like government regulations or stock market behaviors. Just because variables are hard to identify or control doesn’t mean they can’t greatly impact your situation.
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In the fast-paced business world, we want to have the answer yesterday, and our haste can sometimes get us in trouble. Making solid, informed decisions can take time, and might ruffle a few feathers on people who want the problem solved right now.
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In the fast-paced business world, we want to have the answer yesterday, and our haste can sometimes get us in trouble. Making solid, informed decisions can take time, and might ruffle a few feathers on people who want the problem solved right now.
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When encountering a business decision you should: 1. Formulate an opinion of your decision2. Explore other points of view3. Gather as much data as possible4. Look for inconsistencies (use critical thinking and
attention to detail)5. Does the data support your opinion? Why or why
not?6. Solidify or revise your position
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CRITICAL THINKING: Why would understanding a situation from as many perspectives as possible be important in business problem solving?
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