Summary
Summary Creative Thinking & Problem Solving - Business Studies (Grade 12)
- Course
- Business Studies
- Institution
- Private
Creative Thinking & Problem Solving - Business Studies. This section includes: - Creativity - Problem solving
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CREATIVE THINKING andPROBLEM SOLVING
• Creative thinking is the ability to look at problems/challenges differently. Creative
thinking is a process of generating something new that is valuable and useful.
Problem solving techniques requires creative thinking.
• Problems are challenges that have not yet been conquered. Problems can be
anticipated (Predictable Problems) or they can be unexpected. Problem solving is
the process of finding solutions to difficult or complex issues.
• Pros and Cons Chart:
o Arguments both for and against each option, and base your decision on the
one that has the highest number or most convincing
o Weighting can be used to rank the importance of certain aspects
• SWOT analysis
o Strengths
o Weaknesses
o Opportunities
o Threats
• PESTLE analysis
o Political
o Economic
o Social
o Technological
o Legislation
o Environmental
• Decision Tree Technique:
o Used by management to graphically compare the different options available
when making a decision
o Its aim is to promote rational decision making and clarify available options
o Used especially for risk management or project management/planning
o Likely scenarios are brainstormed with possible decisions noted
o When a crisis arises – the decision tree is used to apply to that specific
situation (pre-planned response with options analysed under calm conditions)
• Value Chain Analysis:
o All functions within a business need to be analysed
o Fast food company – processing function, etc.
• Delphi Technique:
o A problem solving technique using electronic communication as opposed to
using the conventional meetings in boardrooms
o When input from a group of experts are required for complex problems, but
cannot physically get together – a question is then posed and through various
electronic formats the issue is then discussed/brainstormed or
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