ORGANISATIONAL PERFORMANCE
MICRO
MARKET
MACRO
The importance of creative thinking and problem solving to
identify strategies to improve business performance.
Creative thinking: identifying a problem that not even the
consumer is aware of yet to maintain competitive advantage.
STEPS TO FOLLOW DURING PROBLEM SOLVING:
1. Identify resource gap and obtain those resources.
2. Explain the impact of the business and consider different
solutions.
3. Choose the best solution and explain it in depth.
CREATIVE THINKING AND PROBLEM-SOLVING PROS AND CONS:
INTRODUCE A NEW PRODUCT
PROS CONS
Increase variety of products Need more capital
Could open a new market Might not take off
RE-LAUNCH EXISTING PRODUCT
PROS CONS
, Already have a market Cold not make a big
difference
Could add a different flavour Very expensive - advertising
DECISION TREE
- decision support hierarchical model that uses a tree-like
model of decisions and their possible consequences,
including chance event outcomes, resource costs, and
utility.
AVOID LAST
MINUTE STRESS
YES
ACHIEVE
SHOULD I GOOD MARKS
STUDY?
ENJOY TIME
NO WITH MY
FRIENDS
VALUE CHAIN ANLYSIS
- evaluating each of the activities in a company's value chain
to understand where opportunities for improvement lie.
AIM = adding value to customers — can be internal
(Within the business e.g. co-workers and bosses) or external.
PESTLE
Political – Physical – Environmental – Economic – Social
– Technological – Legal – Ethical
MICRO
MARKET
MACRO
The importance of creative thinking and problem solving to
identify strategies to improve business performance.
Creative thinking: identifying a problem that not even the
consumer is aware of yet to maintain competitive advantage.
STEPS TO FOLLOW DURING PROBLEM SOLVING:
1. Identify resource gap and obtain those resources.
2. Explain the impact of the business and consider different
solutions.
3. Choose the best solution and explain it in depth.
CREATIVE THINKING AND PROBLEM-SOLVING PROS AND CONS:
INTRODUCE A NEW PRODUCT
PROS CONS
Increase variety of products Need more capital
Could open a new market Might not take off
RE-LAUNCH EXISTING PRODUCT
PROS CONS
, Already have a market Cold not make a big
difference
Could add a different flavour Very expensive - advertising
DECISION TREE
- decision support hierarchical model that uses a tree-like
model of decisions and their possible consequences,
including chance event outcomes, resource costs, and
utility.
AVOID LAST
MINUTE STRESS
YES
ACHIEVE
SHOULD I GOOD MARKS
STUDY?
ENJOY TIME
NO WITH MY
FRIENDS
VALUE CHAIN ANLYSIS
- evaluating each of the activities in a company's value chain
to understand where opportunities for improvement lie.
AIM = adding value to customers — can be internal
(Within the business e.g. co-workers and bosses) or external.
PESTLE
Political – Physical – Environmental – Economic – Social
– Technological – Legal – Ethical
