Business Problem Solving

Management consulting companies have to be the best business problem solvers in the world – it is their core competence! They all use the same set of tools – you can now use them too!

Stage I: Setting up the problem solving

The highest leverage point in the whole problem solving process is setting up the problem. It is worth investing a few days up-front to save you weeks later!

  1. Understanding the situation
  2. Defining the question
  3. Structuring the problem
  4. Creating a workplan

Stage II: Fact-finding and Analysis

This is the bulk of the work! Every project will need different analysis, but you may find some of these tools helpful.

Stage III: Narrowing to a recommendation

In order to make a recommendation, your thinking needs to be robust. Use these tools to check that your solution is the right one and will withstand scrutiny.

  1. Evaluating Alternatives
  2. Proving your recommendation
  3. Planning implementation
  4. Calculating financial impact

Stage IV: Communicating your recommendation

There is no point finding the best recommendation if you cannot persuade others. Since powerpoint is the most common business presentations, this Stage focuses on how to create and deliver a persuasive powerpoint pack.

  1. Crafting a storyline
  2. Saying it with charts
  3. Preparing a dummy pack
  4. Handling Q&A
  5. Delivering the presentation

 

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