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By applying this principle, I’m sure you will be better equipped to simplify complex problems, make more informed decisions, and communicate ideas more effectively. And that’s true whether you’re in marketing, product management, finance, or any other business function, or don’t work in business at all (MECE!).
When I started this, I thought that my audience would be people in big companies stuck inside strategy, finance, or analytics groups that didn’t have access to training. Do you have a toolkit for businessproblemsolving? The training was vital to the success of the firm, and everyone treated it as such.
One exercise I have all people go through who are thinking about taking the leap is the fear setting exercise , which forces you to write down some of your worst fears in relation to finances and other fears of failure. I made a number of changes in my finances, including lowering my rent and changing some of my spending habits.
For example, let’s say you are assessing a business. You might create a simple framework looking at things from a high-level: strategy, finance, operations, and talent. Do you have a toolkit for businessproblemsolving? Another way of applying structure is through frameworks.
Using the GSO, consultants started every engagement by thinking of the outlook for the industry of their client, the place of the client in the industry, the effectiveness of management, the state of its finances, and favorable or unfavorable factors that might affect the future of the firm.”.
Consider any major business transformation – whether it’s developing a new product, entering a new market, or restructuring an organization. Engineers need to work with designers and finance teams with operations, and everyone needs to understand the customer perspective. Do you have a toolkit for businessproblemsolving?
3 Risk and Compliance Consulting This sector focuses on guiding regulatory compliance, risk management, and internal controls, often for highly regulated industries like finance, healthcare, and energy. Do you have a toolkit for businessproblemsolving? Example Firms : Protiviti, Marsh & McLennan, Control Risks.
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