problem solving techniques

Problem Solving Skills : 

Problem Solving Skills Once you own your own business you will have to make decisions and solve problems everyday. Many entrpreneurs make decisions casually or make them on intuition. As a result their decisions are based on faulty assumptions or illogical thinking The best entrepreneurs use formal problem solving mechanisms to gather information and evaluate different options. A formal problem solving model helps business people solve problem in a logical manner.

Use a problem solving process : 

Use a problem solving process The problem solving model consists of six steps. Define the problem Gather information Identify various solutions Evaluate alternatives and select the best option Take action Evaluate the action

Creative problem solving : 

Creative problem solving Creativity is an important attribute of a successful entrepreneur. Creativity is the ability to bring something new into existence. Creativity tends to decline with age ,education, and Lack of use

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Creative potential of an individual can be stifled by perceptual, Cultural Emotional, and Organizational factors

THREE COMPONENET MODEL OF CREATIVITY : 

THREE COMPONENET MODEL OF CREATIVITY This model proposes that individual creativity essentially requires, Expertise Creative thinking skills and Intrinsic task motivation

Creativity and problem solving techniques : 

Creativity and problem solving techniques Brainstorming Reverse brainstorming : this technique is based on finding fault by asking negative questions. Gordon methods: it is a method of developing new ideas when the individuals are unaware of the problems. Checklist method: Free association

Out line of a business plan : 

Out line of a business plan Introductory page Executive summary Industry analysis Description of venture Production plan Marketing plan Organizational plan Assessment of risk Financial plan Appendix

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Introductory page Name and address of business Name and address of principal Nature of business Statement of financing needed

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2. Executive summary Three to four pages summarizing the complete business plan.

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3. Industry analysis Future outlook and trends Analysis of competitors Market segmentation Industry forcast