Management Research And Problem Solution Matrix (Essay Sample)

Problem Solutions Matrix
Student’s Name
Institution
Problem Solutions Matrix
The problem solution matrix is a system that seeks to identify issues in a given institution and offer solutions on how to tackle them. The system ranks the solutions regarding their level of effectiveness to different segments of the organization, hence, making it easy to identify the best course of action. This essay, thus, seeks to point out three possible solutions and assess the impact they would have towards solving the given problem. Ultimately, it will then identify the best option that the organization should adopt as their primary problem-solving strategy.
The first solution under the proposed problem solution is providing the firm with financial help. This funding would go a long way in addressing issues relating to the problem. The funds should be acquired through seeking additional sources of finance, for instance, calling for more investors into the company. This strategy is beneficial to the stakeholders in that it will avail additional funds to the organization to address its needs (Maurice, 2013). It should be implemented throughout the year and its effectiveness assessed based on the level of additional funds collected over a given period.
Also, promoting the company’s value will facilitate solving of the issue. This could be done by the employees of the organization since they are very crucial towards its success. A satisfactory compensation scheme should be availed to ensure that these employees get value for their work (Maurice, 2013). The impact of this strategy could be assessed by determining the level of employee satisfaction. However, its implementation may be deterred by organizational, budgetary constraints.
The other useful approach to the issue is involving the relevant advisory committee to assist in determining decisions and s...