) Demonstrate application the 5 Steps to Problem Solving in the exact sequential format, to the problem stated below. B) Identify each step clearly and begin with a definition or overview of Problem Solving. Henry Chichester is the prospective partner/investor of Qualco Furniture Makers. He visited the strategy analyst of the company to ascertain the extent of their current market share and pattern of patronage over the past decade. He received the following report from the analyst after his visit, We (Qualco) are a third generation family owned Company in the Vintage Design Furniture Business. We have been in business for more than thirty nine years, our last business model was upgraded twelve years ago. We have been experiencing sharp declines in sales over the past nine years. This we attribute to the import of prefabricated furnishings and higher cost of production due to environmental taxes. These were instituted because of the carbon emission policies which climate change activists have been advocating for over the years. We are proud to say we are in total compliance with these regulations. Despite these gains, we have been unable to attract many new customers in the current younger population of home owners. Slow transition to online shopping and glitzy advertising has been a significant constraint in our marketing according to the survey conducted two months ago. Despite the new age of digital shopping, our original customers are quite loyal and have been a great support as we try to remain competitive in a rapidly changing world. We look forward to a more successful future with you as our new partner/investor. Our Board is open to your ideas and willing to accommodate the changes which we anticipate you will introduce in a revamping of our business culture.
A) Demonstrate application the 5 Steps to Problem Solving in the exact sequential format, to the problem stated below.
B) Identify each step clearly and begin with a definition or overview of Problem Solving.
Henry Chichester is the prospective partner/investor of Qualco Furniture Makers. He visited the strategy analyst of the company to ascertain the extent of their current market share and pattern of patronage over the past decade. He received the following report from the analyst after his visit,
We (Qualco) are a third generation family owned Company in the Vintage Design Furniture Business. We have been in business for more than thirty nine years, our last business model was upgraded twelve years ago. We have been experiencing sharp declines in sales over the past nine years. This we attribute to the import of prefabricated furnishings and higher cost of production due to environmental taxes. These were instituted because of the carbon emission policies which climate change activists have been advocating for over the years. We are proud to say we are in total compliance with these regulations.
Despite these gains, we have been unable to attract many new customers in the current younger population of home owners. Slow transition to online shopping and glitzy advertising has been a significant constraint in our marketing according to the survey conducted two months ago. Despite the new age of digital shopping, our original customers are quite loyal and have been a great support as we try to remain competitive in a rapidly changing world.
We look forward to a more successful future with you as our new partner/investor. Our Board is open to your ideas and willing to accommodate the changes which we anticipate you will introduce in a revamping of our business culture.
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