Lesson 1 4 Problem Solving for Entrepreneurs Goals

Lesson 1. 4 Problem Solving for Entrepreneurs Goals n List the six steps of the problem-solving model. n Describe ways to improve your problem -solving skills. Chapter 1 1 Entrepreneurship: Ideas in Action © Cengage Learning/South-Western

Terms n brainstorming Chapter 1 2 Entrepreneurship: Ideas in Action © Cengage Learning/South-Western

Use the Problem-Solving Process Chapter 1 3 Entrepreneurship: Ideas in Action © Cengage Learning/South-Western

n Define the Problem n write down what the problem is n define why it is a problem n quantify the problem n Gather Information n collect information that can help solve the problem Chapter 1 4 Entrepreneurship: Ideas in Action © Cengage Learning/South-Western

n Identify Various Solutions n identify all possibilities before selecting a particular solution n Evaluate Alternatives and Select the Best Option n quantify or rank alternatives Chapter 1 5 Entrepreneurship: Ideas in Action © Cengage Learning/South-Western

n Take Action n implement the solution n Evaluate the Action Chapter 1 6 Entrepreneurship: Ideas in Action © Cengage Learning/South-Western

What are the six steps in the problem-solving process? Chapter 1 7 Entrepreneurship: Ideas in Action © Cengage Learning/South-Western

Problem-Solving Skills n Communicating n communicate clearly and confidently n listen well n Brainstorming n a creative problem-solving technique n generates a large number of fresh ideas Chapter 1 8 Entrepreneurship: Ideas in Action © Cengage Learning/South-Western

n Learning from Mistakes n Mistakes are a learning experience. Chapter 1 9 Entrepreneurship: Ideas in Action © Cengage Learning/South-Western

How can you improve your problem -solving skills? Chapter 1 10 Entrepreneurship: Ideas in Action © Cengage Learning/South-Western

PERFORMANCE INDICATORS EVALUATED n Evaluate and delegate responsibilities needed to perform required tasks. n Demonstrate effective teamwork skills needed to function in a business setting. n Demonstrate knowledge of multimedia software and components. Chapter 1 11 Entrepreneurship: Ideas in Action © Cengage Learning/South-Western

n Demonstrate effective oral communication skills. n Apply technical skills to create a multimedia presentation which enhances the oral presentation. Chapter 1 12 Entrepreneurship: Ideas in Action © Cengage Learning/South-Western

THINK CRITICALLY 1. Why must entrepreneurs look at future trends when making business decisions? 2. Why should entrepreneurs look beyond current technology trends when making business decisions? Chapter 1 13 Entrepreneurship: Ideas in Action © Cengage Learning/South-Western

3. Why should statistics be used for this presentation? 4. How are entrepreneurs affected by a global economy? Chapter 1 14 Entrepreneurship: Ideas in Action © Cengage Learning/South-Western