Business Situation Analysis and Problem Solving
Abstract
USA World Bank (UWB) is faced with a situation of deciding upon a new product to expand its market share. This paper deals with a scenario in which the ultimate goal is to provide a holistic approach to problem-solving and solution development. In particular, this paper will analyze the first three steps in problem-solving, which include; description of the situation with the emphasis on the issue and opportunity, defining the right problem-based on the situation, and explain the desired future end-state goals.
Situation Analysis and Problem Statement
The banking industry has been impacted by the vast changes in technology. The changes occurring in the banking industry have caused companies to broaden their horizons with new products and services to keep up with the competitive. In particular interest, USA World Bank is faced with having to make better judgments on effective decision-making. Having an understanding of how those decisions are made can be gathered through statistical analysis and effective planning. This requires detailed analysis that facilitates both developing rational expectations regarding the future and the ability to evaluate risks and alternatives (University of Phoenix, 2006, Read Me First, 2).
Situation Background
USA World Bank is a major bank that has a large consumer and small business base. To expand its current market share the executive team realized they needed to develop new products that will be profitable. With the past products being slightly successful they were only aimed on the U.S. consumers and not international. USB needs to submit to the Board of Directors a product that will consume lots of advertising do...
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...results is imperative.
Conclusion
Turning the goal into a reality can be quite difficult. As Jonathon Day and Michael Jung suggest, "The reality must be so clear and impressive that it seems not only better that today's reality but also necessary, even inevitable" (2000). The bottom line is obtaining accurate results rather than those assumed by the organization. Mary Chamie, Chief of the Demographic and Social Statistics Branch of the Statistics Division of the United Nations Department for Economic and Social Affairs said, "Being able to collect statistics in a country reflects governance and stability. In fact, collection of statistics is itself an indicator of development" (The World Bank, 2006). USA World Bank will then be able to align the business processes and products to serve the needs of the customer, rather than serving the needs of the company.
Sapient is a business consulting and technology Services Company based in Cambridge, Massachusetts, that was founded in 1991 to specialize in client/server application development. Sapient was one of a group of companies (along with firms such as Cambridge Technology Partners and i-Cube) that sought to differentiate themselves from traditional consultants by offering strong technical skills and application development to enable companies to get business value out of technology within fixed-fee/fixed-time contracts and by focusing solely on client's success to achieve long term goals and objectives. In the mid-1990's, Sapient recognized the potential of Internet and started to offer Internet solutions to its clients. Sapient was one of the few e-business integrators from the dot-com era that recognized offshore opportunities early on. It invested in global delivery capabilities in India starting in 2001.The Company has been through significant changes over the past five years, including significant shifts in its client base, offshore staff mix, and target contract size, but the focus on its purpose, core values, Internet enablement and related technologies is unchanged.
- If all of the options were explored, and patient is given antibiotics and is treated without any pain or suffering than the treatment identifies with the ethnical principles of autonomy, non-maleficence, and veracity. In turn, Mrs. Dawson will be happy with the outcome of the procedure.
Spokane Industries has contracted Franklin Electronics for an 18 month product development contract. Franklin Electronics is new to using project management methodologies and has not been exposed to earned value management methodologies. Even though Franklin and Spokane have worked together in the past, they have mainly used fixed-price contracts with little to no stipulations. For this project, Spokane Industries is requiring Franklin Electronics to use formalized project management methodologies, earned value cost schedules, and schedules for reports and meetings. Since Franklin Electronics had no experience with earned value management, the cost accounting group was trained in the methodology in order to bid for the project.
According to the Case Management Society of America, case management is "a collaborative process of assessment, planning, facilitation, care coordination, evaluation, and advocacy for options and services to meet an individual's and family's comprehensive health needs through communication and available resources to promote quality, cost effective outcomes" (Case Management Society of America [CMSA], 2010). As a method, case management has moved to the forefront of social work practice. The social work profession, along with other fields of study, recognizes the difficulty of locating and accessing comprehensive services to meet needs. Therefore, case managers work with these
The banking industry is under pressure in today’s business climate. Banks have been through big changes. There is opportunity, but there is also increasing competition. To be the preferred bank means changing “good enough” into a unique value proposition. And that means changing the way people have always done things, change on this level requires cutting edge technology. Change cannot be achieved with a simple directive or surface adjustment especially within the banking industry. It requires an innovative rethink of the entire system, in a strong partnership between bank leaders and their change agents. New systems and policies must support the strategy to be successful. The real test of a good strategy implementation plan is whether the people understand the strategy, are motivated and enabled to implement it, and actually start achieving its goals.
However, RLK’s competitors are downsizing and outsourcing R&D and exploiting on the cost advantages. If RLK decides to invest more money into R&D and should the new product stall on launch, they face the danger of becoming bankrupt.
Thinking critically and making decisions are important parts of today’s business environment. It is important to understand how the decision making process works and the steps involved. The nine steps of the decision making process are: identifying the problem, defining criteria, setting goals and objectives, evaluating the effect of the problem, identifying the causes of the problem, framing alternatives, evaluating impacts of the alternatives, making the decision, implementing the decision, and measuring the impacts. (Decision, 2007.) By using various methods and tools to assist in making important business decisions an individual can ensure the decisions they make will be as successful as possible. In this paper it will be examined how the decision making process can be followed using various tools and techniques to make successful business decisions by using these same tools and techniques during a thinking critically business scenario. The paper will also discuss how different tools and techniques could have been used to make different, yet still successful decisions.
The tactical plan of United Nations Children’s Fund (UNICEF) management must describe how the organizations goals will be met and by when. It must also entail plans to help assure ethical business practices throughout UNICEF. The success of these goals will depend on the quality of there programs, information, communication, advocacy and the excellence of their internal management and operations. UNICEF management must hold them selves accountable to do all that they can for the success of their goals by planning, monitoring, evaluating, and reporting to achieve the results in the five major areas to change the world to serve the best interest of the child.
Problem-solution organization refers to the process of identifying a problem, analyzing it, coming up with a variety of possible viable solutions and finally choosing the best. Many organizations use either two or three organizational approach in problem solution organization. In two organizational format a problem as well as respective solution is outlined. In three organizational formats the problem, available solutions and the ideal solution are outlined. The problem-solution format is preferable for policy presentations in most organizations.
economy, is undergoing rapid change. In the future banking industry will be divided into global, national and super-regional banks and a much smaller number of community banks. It is expected of these banks primarily super regional banks and community banks will extend their services to the needs smaller business through large loan processing centers utilizing credit-scoring techniques and "intelligent models" (artificial intelligence-derived computer-based models) .
Communication modern technological tools that have been enhanced by Information Technology are having an impact on changing the very structure and communication of banking. That is, clients are enabled to make their banking transactions whenever and wherever they want. Bank clients, by just logging on their online account, can transfer any amount of money from their account to any other account, check their last processed banking transactions and apply for loans and other banking services. According to Keyes ( 2000, p.591) 'electronic checks provide consumers with the benefits of convenience and safety while allowing billers to maintain their existing depository relationships with their banks'. Further, e-mails has enabled bank employees to notify their customers of any new enhanced bankin...
As previously mentioned, potential problem analysis or potential opportunity analysis was developed and introduced by Charles H. Kepner and Benjamin B. Tregoe as part of their initiatives to identify a suitable approach for problem-solving initiatives. Their work culminated in the publication of a book containing the problem-solving approach they had created, which included the
One must look at the economic environment and how it will affect the launch of the product. One must look at:
A variety of groups are concerned in bank profitability for various reasons. The bank shareholders would want to know if the value of their investments is high or low. The investors also use current and past performance to predict future price of the banks’ shares traded on the stock exchanged. The management of the bank as trustee of the shareholders is evaluated and compensated on the basis of how well their decisions and planning have contributed to growth in assets and profits of their banks. Employees of bank also are concerned with profits, since their salaries and promotions are frequently tied to the profitability performance of their banks. Depositors use bank performance and profitability as indicators of security for their deposits in the banks. Finally, business community and general public are concerned about their banks’ performance to the extent that their economic prosperity is linked to the success or failure of their banks.
This is followed in section 5 by an analysis of the recent changes in the banking industry. With the development of the financial system, declining entry barriers and the deregulation of the banking industry make banks no longer the monopoly suppliers of banking services and reduce their comparative advantages which they usually hold in the past. Whether the reasons give rise to the existence of banks are still powerful will be examined here, while section 6 offers a way of considering whether banks are declining by looking at the value added by the banks. When the value added by banks is examined, banks are not a financial intermediation, which not only conduct the traditional services but also provide more diversified