Creativity and
Problem Solving
IEB Business Studies
Nicola Waite
, Creativity and Problem Solving
Creativity
“Showing imagination and originality as well as routine skill.
− Skills and techniques can be learnt to enhance
creativity
− Creativity is a crucial skill in modern day business to:
o Cope with fast growing technological changes
o Staying ahead in an increasingly competitive
society
o Changing demands means that product life
cycles are becoming shorter
Problem Solving
Predictable problems can be anticipated (trends)
Unexpected problems can’t be anticipated (like a natural disaster) = crisis
Problem Solving Techniques:
Pros and Cons Chart:
Weighing up your options using detailed information
Using arguments for and against to prioritize your options before making a
decision.
You can allocate a ranking system rating most important to least and then
tallying it up, however, you still need to look at it logically and make a final
decision.
Introduce a new product into the market
PROS CONS
Increase the variety of product Need more capital
Could open a new market Couldn’t take off
Re-launch an existing product
PROS CONS
Already have a different market Couldn’t make a big difference
Could add a different flavour Very expensive - advertising
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Problem Solving
IEB Business Studies
Nicola Waite
, Creativity and Problem Solving
Creativity
“Showing imagination and originality as well as routine skill.
− Skills and techniques can be learnt to enhance
creativity
− Creativity is a crucial skill in modern day business to:
o Cope with fast growing technological changes
o Staying ahead in an increasingly competitive
society
o Changing demands means that product life
cycles are becoming shorter
Problem Solving
Predictable problems can be anticipated (trends)
Unexpected problems can’t be anticipated (like a natural disaster) = crisis
Problem Solving Techniques:
Pros and Cons Chart:
Weighing up your options using detailed information
Using arguments for and against to prioritize your options before making a
decision.
You can allocate a ranking system rating most important to least and then
tallying it up, however, you still need to look at it logically and make a final
decision.
Introduce a new product into the market
PROS CONS
Increase the variety of product Need more capital
Could open a new market Couldn’t take off
Re-launch an existing product
PROS CONS
Already have a different market Couldn’t make a big difference
Could add a different flavour Very expensive - advertising
1|Page
