12.3.1. Problem Identification

Try these first

1. 1.

   Define problem identification in your own words.

   Hint

   Consider how it impacts decision-making.

2. 2.

   Give one example of problem identification in a business.

   Hint

   Think about common issues businesses face.

3. 3.

   What is the main goal of problem identification?

   • Increase profits
   • Recognize issues that require action
   • Develop new products

   Hint

   Focus on understanding why it matters in decision-making.

4. 4.

   True or False: Problem identification can lead to wasted resources if done incorrectly.

   • True
   • False

   Hint

   Remember the consequences discussed in class.

5. 5.

   Analyze a real-world company that faced a significant problem, detailing how failure to identify it early affected their performance.

   Hint

   Look for case studies on failed businesses.

6. 6.

   Propose an in-depth problem-identification process for a fictional startup facing competition.

   Hint

   Consider different methods to gather insights.