Running head PROBLEM SOLUTIONS 1PROBLEM SOLUTIONS 2.docx
- 1. Running head: PROBLEM SOLUTIONS 1 PROBLEM SOLUTIONS 2 Problem Solution s Cedric, David, Jubentino, Terrence University of Phoenix PHL 320 November 15, 2016 The issue identified in previous weeks can be worked on by first acknowledging the existence of the problem. This will be followed by confronting the problem by developing an action plan to act as a roadmap later the solution will be implemented
- 2. to action (Jackson, 2015. In that, acknowledging the existence of the problem gives someone an urge to look for remedies to the problem. Developing an action plan act as a direction to be followed to ensure the problem is properly solved. In developing the creative solution, the method which was applied includes the use of brainstorming, divergent and convergent thinking (Jackson, 2015). To start with, brainstorming involves engaging in personal thinking and try to think of the possible ideas to be used for creating a creative thinking. In a group, everyone is allotted time to give their views before the discussions are undertaken, the reason for allowing everyone to give possible ideas is to challenge people to engage extra minds before they harmonize together the ideas. In most of the cases, brainstorming has proved to be the best since in promote full participation from the members of the group.89 The next method which can use is divergent and convergent thinking. Divergent thinking involves trying to recall ideas from the past experience, and the experience should be positive towards proving good ideas (Jackson, 2015). Convergent thinking involves narrowing down the ideas to obtaining a meaningful idea. For a group, ideas from others are examined to obtain better-informed ideas. In overcoming barriers to creativity, there is a need for one to obtain the experience. Before indulging in creativity, there is a
- 3. need for one to obtain experience. Obtaining experience can be acquired by reading of relevant articles in the same field you want to take creativity (Jackson, 2015). The secondary articles include the reading of important books, journals, and novels which have very important information. The next way of overcome barriers include learning to associate yourself with the experience; this can be done by linking your past experience with the real issue at hand. The next way is undertaking an expression either to a group of people or a friend. The fourth way is evaluation whether there is a link with your past experience with what you have at hand. The next way is by perseverance, this is because when overcoming barriers, there is challenges associated with. Finally, you can obtain a reflection of your experience. There should also be a team whose job is to check for any barriers and finding solutions to them. Barriers can cost the organisation a lot. This is why it is important to identify them in advance and find a way of overcoming them on time. In coming up with the potential solutions, critical thinking was very vital in examining various existing solutions then select the best alternative to be adopted (Puterman, 2014). Also, critical thinking acted as a benchmark for evaluating whether the identified solution was really viable to be implemented or it was going to be a waste of time. Critical thinking was essential in building ideas as well as challenging the course of action to
- 4. be taken. Furthermore, critical thinking acted as a parameter to identify the channel to be adopted in implementing the identified solution. Moreover, critical thinking was used to identify the alternatives to be evaluated. The four key elements as suggested by the group were essential in arriving at a more informed decision. In that, the elements acted as a benchmark for reaching into wiser ideas (Puterman, 2014). The group has the task to evaluate the viable ideas to which can be generated from a business, hence, the factors provided the clear direction for evaluating and making a conclusion on the most viable ideas to undertake. Furthermore, the elements provided glue on how the entire process was to be conducted. References Jackson, S. L. (2015). Research methods and statistics: A critical thinking approach. Cengage Learning. Puterman, M. L. (2014). Markov decision processes: discrete stochastic dynamic programming. John Wiley & Sons. Snyder, G. H., & Diesing, P. (2015). Conflict among nations: Bargaining, decision making, and system structure in international crises. Princeton University Press.
- 5. Running head: ENRON’S COLLAPSE 1 ENRON’S COLLAPSE 4 Enron’s Collapse David, Cedric, Jubentino, Terrence University of Phoenix PHL 320
- 6. November 7, 2016 Enron’s Collapse Enron Corporation is a former American company that had its headquarters in the city of Houston. The organization came to life in 1985 in the wake of the acquisition of Natural Gas Company by InterNorth Inc. (Yardley, 2002). Due to the resource and capacity endowment of the two companies, the emergent company, Enron Inc. became the market leader in the natural gas industry across North America. In addition, it also assumed the position of America’s largest electricity supplier. These accolades gave Enron a front seat globally insofar as its areas of interest were concerned. It remained was unmatched until the onset of its demise at the end of the year 2001 when it filed for bankruptcy. Enron’s narrative is one that is not an isolated case on America’s corporate scene. Unscrupulous managers and board members have repeatedly faced charges of corporate greed and corruption, causing the collapse of otherwise robust companies and untold suffering to stakeholders. In his article that featured in The New York Times on January 14, 2002, Jim Yardley recounts the consequences of how the
- 7. bankruptcy and the fall of the company affected its investors and the employees (Yardley, 2002). According to Yardley (2002), the bankruptcy of Enron led to the loss of close to 4000 jobs to the Houston locals and was a painful encounter for the Houston Ballet. The charities that benefitted from the company faced a huge blow after its closure in 2001. The corporation’s demise triggered a full-scale corporate scandal in the city of Huston and later the whole of the United States. Before its collapse, the company was the epitome of corporate grandeur in Houston and beyond. It was a civil dynamo whose money and influence were tangible across the city and its environs (Yardley, 2002). Houston’s citizens could not help but wonder about the scope and depth of the effects of Enron’s demise. It was devastating. Many laid off employees were furious at the company’s executives and their financial, and emotional distress could not be overstated. One of the former employees had to cancel a scheduled cancer surgery due to the shortage of funds. Another article that covers the Enron case is a piece by Joseph Nicolson, which explains the factors that led to the collapse of the company. Nicolson gives the major causes of Enron’s downfall as both personal and systemic failures (Nicholson, 2015). The article cites accounting problems where the company claimed there were profits even when there were none.
- 8. Secondly, endless borrowing from Wall Street to invest in e- commerce and other questionable investments led to the downfall from fraud. The article further cites management culture and preferential treatment as additional causes of Enron’s downfall. From the first article, focuses on bankruptcy and the downfall of Enron as well as the ensuing consequences after its collapse, especially in the lives of individuals and families in Houston. Greed coupled with circumstances in the prevailing business environment and market euphoria to motivate ignorant engagement in high-risk activities, some being beyond the purview of Enron’s traditional interest areas. Eventually, the company filed for bankruptcy, an event that saw over 4000 employees get laid off. The loss of jobs led to untold emotional and financial strain among the former employees. In the second article, the main problem discussed is the cause of Enron’s collapse. These are the underlying problems because they identify how the bankruptcy and laying off of workers affected the normalcy of life they had gotten used to, It further gives a detailed description of factors that occasioned the fall of the company, which was once deemed as the corporate star in Houston. The problems discussed in the articles directly relate to the research problem, which are office closure and its impacts. These problems explain why Enron gas and electricity
- 9. was closed and the effects of the closure to its investors and employees. Well-defined problems lead to breakthrough solutions. When developing a product or solving a business issue, it is vital to identify and define the problem clearly. Failure to identify a problem properly leads to wastage of resources, opportunities, and the pursuit of insignificant solutions. Problem identification is the focal point in problem-solving efforts. The quality of a solution is directly proportional to the quality of the solution given to a specific problem that one is trying to solve. The proper definition of a problem follows the problem definition stages, which help to identify the right problem whose solution is desired. The most important strategy of defining a problem is exposing and challenging assumptions in order to eliminate unsuitable assumptions and find the right problem. A clearly identified problem tests the validity of the problem and the likelihood of its consequences as well the views from multiple perspectives, therefore, leading to the proper channels of finding the right solution to the right problem and not the general assumption of what could be or not be the problem. Correctly and clearly defining a problem places it in the right problem space through which it will be studied through interlinking different underlying issues that need to be solved in order to find the most suitable solution to the identified problem
- 10. (Savery, 2015). The significance of the problem space is the proper identification and gives the right solution. References Nicholson, J. (2015, September 22). What caused Enron to collapse? Retrieved from http://www.ehow.com/how- does_4911332_what-caused-enron-collapse.html Savery, J. R. (2015). Overview of problem-based learning: Definitions and distinctions. Essential readings in problem- based learning: Exploring and extending the legacy of Howard S. Barrows, 5-15. Yardley, J. (2002, January 14). Enron’s collapse: The hometown; fall of Enron ends its dance with Houston. The New York Times. Retrieved from http://www.nytimes.com/2002/01/14/us/enron-s-collapse-the- hometown-fall-of-enron-ends-its-dance-with-houston.html