I. Time context.
Specify the time context (month and year) if the case fact is explicit about it. The times context should tell us when the problem was observed, which requires the necessity of an action.
A business problem requiring an action in pre-martial law days will have a different action if it were to be tackled today. Likewise, a business problem requiring an action that is different from the action to be taken during a period of stable prices, as in 2010. In short, a business and economic environments.
In solving business problems, the student must specify the viewpoint he is taking. It is always based on the manager’s viewpoint. Given a business problem, the president of a company will most likely have a different or solution from those of other company officers.
III. Statement of the Problem.
A problem is a deviation or an imbalance between what should be and what is actually happening. This imbalance is caused by a change of one kind or another. A problem could be answered by the question-what is wrong that needs correctly?
A business case may contain a variety of issue or problems, from the trivial to the significant, from the irrelevant to the relevant.
The student should focus his attention on the key or central problem. The elimination of the central problem will eventually result in the elimination of other peripheral problems. Specify what the problem is by describing it very accurately in terms of four dimensions: identity, location, time, and extent.
Objectives are specifications which alternative courses of action are to be developed. These are statements or functions to be performed or undertaken by the courses of action. These are what you want your decisions or actions to accomplish, hence, an essential part in case analysis.
Must or Short-Range Objective....
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