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7 Steps to Problem Solving

Skip Prichard

2: Disaggregate. Yes, we find the most common mistakes in complex problem solving are weak problem statements, poor problem disaggregation, and insufficient attention to good team norms. 7 Steps to Problem Solving. 1: Define the problem. 3: Prioritize. 4: Workplan. 5: Analyze. 6: Synthesize. Communicate.

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How Demand Forecasting Can Boost Business Efficiency

Strategy Driven

Macro Demand Forecasting: The “big picture” demand forecasting technique that looks ahead at broader market conditions to help plan a business’s overarching strategies. Break down demand by demographics, product lines, regional differences and any other statistical segments that matter. Diversify forecasting methods.

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Why You Should Let a 5-Year Old Design Your Next Product

Harvard Business Review

Even though he''s only five years old, that product will one day be on the shelves of your local Bed Bath and Beyond, or Target. This five-year old is able to be the inventor without also creating a company because of a product innovation company called Quirky. And, of course, this slowed innovation and restrained market outcomes.

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Approximately Correct Is Better than Precisely Incorrect

Harvard Business Review

A Harvard Business School marketing professor named John Deighton once came up with a vivid analogy to illustrate this and show why a business should sub-segment its customer base. Still, companies often make the mistake of developing products and features to appeal to the mean. There's no such thing as an average customer.

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3 Ways to Get More Out of Your Web Analytics

Harvard Business Review

When your team reviews web analytics in your monthly marketing meeting, the person in charge of analytics reports says, “We got 123,456 visitors to our website this month.” By doing so you can make better decisions about how to leverage your limited marketing resources. Does this sound familiar? Avoid Mental Shortcuts.

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The Fight Over Tesla Shows How Little Value Dealerships Add

Harvard Business Review

Let’s look at whether these functions are needed in the car market: Search and discovery: In the same way eBay helps turn one person’s junk into another person’s collectible or AirBnb makes your empty guest room a hotel room, intermediaries can help buyers find sellers. But the car market is no longer like this.

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From Zipcar to the Sharing Economy

Harvard Business Review

They enable the disaggregation of physical assets in space and in time, creating digital platforms that make these disaggregated components — a few days in an apartment, an hour using a Roomba, a seat in your drive from Berlin to Hamburg — amenable to pricing, matching, and exchange.