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Characteristics of a Promising Business Idea. Innovative: They introduce new or improved products, services, or processes. Unique: They offer something that is not readily available in the market. Problem solving: They address specific problems or fulfill unmet needs. Profitable: They have a clear path to financial sustainability.
Problem solving is the process of achieving a goal by overcoming obstacles, a frequent part of most activities. Problems in need of solutions range from simple personal tasks (e.g. how to turn on an appliance) to complex issues in business and technical fields.
Issue trees are useful in problem solving to identify the root causes of a problem as well as to identify its potential solutions. They also provide a reference point to see how each piece fits into the whole picture of a problem.
D0: Preparation and Emergency Response Actions: Plan for solving the problem and determine the prerequisites. Provide emergency response actions. D1: Use a Team: Establish a team of people with product/process knowledge. Teammates provide new perspectives and different ideas when it comes to problem solving.
A problem statement is a description of an issue to be addressed, or a condition to be improved upon. It identifies the gap between the current problem and goal. The first condition of solving a problem is understanding the problem, which can be done by way of a problem statement. [1]
The situational theory of problem solving attempts to explain why and how an individual communicates during a problematic situation. The situational theory of problem solving (STOPS) was proposed by Jeong-Nam Kim and James E. Grunig in 2011 though their article “problem solving and communicative action: A situational theory of problem solving.”
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