Question

In Business Research, What key elements makes the address of a management problem effective?

Answer 1

The 4 key elements to solve a problem are

1.    Understanding the problem

2.    Planning to solve the problem

3.    Executing the plan

4.    Interpretation

In the first step, manager analyses the problem and check for the reasons for its occurrence. Then in the second step, depending on the SWOTs of the company a proper plan is formulated to arrive at a solution for that problem. In the third step, the manager executes the plan with his team. In the final step, the manager has to check whether the solution obtained in practical matches with the theoretical plan he executed.