Creative Thinking And Problem Solving

Question 1

What is creative thinking?

Answer 1

The process of thinking of new and innovative idea which are unconventional.

Question 2

What is decision making?

Answer 2

Choosing which idea best fits with the vision and mission of the business after considering all alternatives

Question 3

What is problem solving?

Answer 3

Involves creative thinking and decision making to choose the best solution

Question 4

What is viability?

Answer 4

Can the idea be implemented with the available resources therefore is it do-able.

Question 5

What is feasibility?

Answer 5

Is there enough market for it to be financially beneficial and sustainable

Question 6

What are the benefits of creative thinking?

Answer 6

• to solve business problem: adapt to changing product needs
• creative working environment: positive feedback and freedom to express ideas
• promotes teamwork and non-conventional solutions
• improves quality of production
• motivates employees to improve skills
• improves productivity

Question 7

What is the problem solving cycle?

Answer 7

1. IDENTIFY the problem
2. DEFINE the problem
3. FORMULATE a strategy
4. IMPLEMENT the strategy
5. ALLOCATE the resources
6. MONITOR the solution
7. EVALUATE the process

Question 8

What is the pros and cons chart?

Answer 8

This technique helps management to make a decision based on the advantages and disadvantages of a specific option

Question 9

What are the disadvantages of a pros and cons chart?

Answer 9

The pros and cons are not weighted and it is just a black and white sketch

Question 10

What is a Force Field analysis?

Answer 10

It is similar to a pros and cons chart however there is a third column which evaluates every point from everyone’s perspective

Question 11

Which tool is used in each business environment?

Answer 11

Micro: SWOT
Market: porters 6 forces model
Micro: PESTLE

Question 12

What is a decision tree?

Answer 12

A mathematical model used to help managers make decisions. It uses estimates and probabilities to calculate likely outcomes. Helps to decide whether the net gain from a decision is worthwhile

Question 13

What is the value chain analysis and what are the key words to know that you should use it?

Answer 13

The process used to examine the entire business process to decide whether value is added in a cost-effective manner to enhance the quality of the product or services.

The words VALUE and OUTSOURCING should be looked for

Question 14

When should a business outsource something?

Answer 14

If the business is involved in something which is not their core-strength and will not add value to the business process

Question 15

What are the steps in the value chain analysis?

Answer 15

Step 1: divide the business into different activities

Step 2: describe each process required to complete the production

Step 3: identify those areas that are critical to gaining competitive advantage

Step 4: decide whether these areas remain in the business or are outsourced (particular to value chain analysis)

Question 16

What is the Delphi technique?

Answer 16

Only for long-term solutions. Gets experts to interact on a common project through technology. Allows someone to be anonymous and is run by a facilitator

Question 17

What are the negatives and positives of the Delphi technique?

Answer 17

Positives: avoid problems of negative Group dynamics and you get the perspectives of professionals

Negatives: experts may not have urgency therefore it is time consuming and the results can be manipulated by the facilitator

Question 18

What does RIMS stand for?

Answer 18

Rational Interaction for Moral Sensitivity

Question 19

What is RIMS?

Answer 19

The primary focus of RIMS is on society instead of the individual (utilitarian approach). All participants are equal and is based only on facts.

Question 20

What are the steps in RIMS?

Answer 20

Step 1: generate and evaluate all points of views fairly

Step 2: identify implications. Identify positive and negative implications expressed in all points of view

Step 3: find solutions that will minimise negative implications and maintain positive implications

Question 21

What is the DRIVE technique?

Answer 21

DEFINE: the problem and criteria to solve the problem
REVIEW: the background of the problem
IDENTIFY: the real problem and related issues
VERIFY: solving real issues achieves desired outcome
EXECUTE: the proposed solution and evaluate the prevent similar issues.

Question 22

What is the Drill Down Analysis?

Answer 22

Technique used to break down complex problems into smaller parts.

Question 23

What is the Drill Down Analysis method?

Answer 23

• write down the problem on the left side
• break it into component parts by asking questions about it
• break down the component parts into actions
• try to find solutions to the smaller components as this is more manageable

Question 24

What is a resource based approach?

Answer 24

When a business finds resources which are of strategic importance (value) to them. These resources assist the business to gain a competitive.

Question 25

Which resources could be included in the resource based approach?

Answer 25

Tangible resources: raw materials, equipment, land and buildings

Intangible resources: patents, established brand, skills and a ethical workforce

Question 26

What is the Balanced Score Card?

Answer 26

Developed to describe the key outcomes that the business would like to evaluate in order to improve

Question 27

What are the elements used to identify and describe the role they play in the business when using the balanced score card?

Answer 27

Financial perspective: maximising utilisation of assets and minimising costs

Customer perspective: what are the customer’s expectations

Internal: focused on innovative products and services

Learning and growth: looks at how employees in the business can improve and create value

Question 28

What are the other problem solving techniques?

Answer 28

Mind mapping, brainstorming, empty chair technique, force-field analysis, nominal group technique, forced combinations and SCAMPER

Question 29

What are the important questions after the fact?

Answer 29

Is the solution SUCCESSFUL
Is it COST EFFECTIVE
Is it CLEAR(SMART)
Is it ORIGINAL