[CU747] Solve business problems
1846 words 8 pages[CU747] Solve business problems
[747.1] Understand business problems and their causes
1.1 Describe ways of recognising when a business problem exists
In most organizations recognition of a business problem typically relies on measures and management reporting of measures against expectations. Usually each performance area measures quality, cost, and speed of service - plus possibly customer satisfaction. If one of these measures starts to vary from expectations then management should investigate the reason and determine if it represents a business problem or possibly the result of some one-time event or temporary glitch.
1.2 Explain how to identify possible causes of business problems
Some sample indicators of a business …show more content…
Historical data collection, comparing the recent data with old ones are other ways to check and this helps you to look at how the business performance varied over a long period of time when it had no problems and when it had problems. After the performance comes to normal, the monitoring process has to continue for quite some time to ensure that the problem does not reoccur.
[747.3] Understand factors that influence solutions to business problems
3.1 Describe the possible effects of organisational policies and procedures when solving business problems
Many people possess excellent analytical skills and problem solving skills that they would have gained from years of experience in various fields and industries. When it comes to problem solving, every organisation has its own policies and procedures that one has to adhere to while solving problems. This stands as an issue or barrier when one tries to implement certain solutions to a problem. So under this condition, a person needs to be supported and encouraged by the company when applying solutions to a problem. Policies and procedures have both positive and negative effects on problem solving and it varies for different companies
3.2 Describe the possible effects of legal or regulatory requirements when solving business problems
A few effects of legal and regulatory requirements that we can expect during a problem solving process are: Sales, profit, production, labour related issues. In these cases, employment