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cluponka [151]
3 years ago
7

The following exchange demonstrates which problem solving technique?

Business
2 answers:
suter [353]3 years ago
5 0

Answer:

It is A. Fishbone diagram

Explanation:

Klio2033 [76]3 years ago
3 0

Answer:

a. Fishbone Diagram

Explanation:

The problem-solving process can be defined as the systematic approach used to identify and determine the solution to a particular problem.

The steps involved in the problem-solving process are;

1. Identify and define the problem.

2. Gathering of information.

3. Consider your options.

4. Weigh disadvantages and evaluate a solution.

A Fishbone diagram is also referred to as Ishikawa diagram and it can be defined as a cause and effect diagram that is typically used by managers to identify possible reasons for failure, defect, variation, imperfection, so as to discover the root cause of a problem and proffering the right solution. It was designed and developed by Professor Kaoru Ishikawa in the 1960s.

Cause and effect can be defined as the relationship between two things or events in which an occurrence one (cause) leads to the occurrence of another (effect).

Hence, the following exchange "We pay higher costs than we need to when we go bowling because we don’t own our own equipment." demonstrates the Fishbone diagram.

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Year  Cash flow   Present value   Present value      Discounted

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1            2,800           0.9009             2,523               -2,677

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Working

PV= (1+i)^-n

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