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Business summary creativity and problem solving
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- Business Studies
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- 12
Business summary of creativity and problem solving
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CREATIVE THINKING & PROBLEM SOLVINGCHAPTER 4
CREATIVITY
Creativity is a very specific way of thinking. There are many techniques and skills that can be
learnt to enhance creativity. It is very crucial aspect as it helps businesses stay ahead in an
increasingly competitive society.
PROBLEM SOLVING
Problems are challenges that have not been conquered yet. They can either be anticipated
(Predictable Problems) or unexpected such as natural disasters. Either way there are
planning and risk management that can be used to cope with these situations better.
PROS & CONS CHART VALUE CHAIN
Looking at arguments both for and against each option and ANALYSIS
basing your decision on which has the highest pros or least Highly specialised
cons. problem-solving
technique. Used
SWOT ANALYSIS specifically to analyse the
Used to identify the strengths and weaknesses (internal cost of parts of a product
factors that business has control over) as well as to reduce those costs,
opportunities and threats (external factors that business thereby increasing the
has no control over value of the product
PESTLE ANALYSIS DELPHI TECHNIQUE
Approaches, identifies and analyses the challenges Participants do not have
affecting the macro environments to be in the same room.
This is a useful way to
DECISION TREE TECHNIQUE harness brainpower from
Complex decision-making tool that clearly & graphically across the world. This is
compares different options available when making a done using anonymous
decision interviews or
questionnaires
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