Problem solving Whether you’re dealing with a complex problem or a relatively simple one, it’s vital that you have a clear understanding of what it is that you’re hoping to solve. If you’re trying to tackle a number of problems (even if they’re relatively simple problems) the task becomes much harder. If you’re working on a team, it’s all the more important that you have a shared understanding of the single problem you’re addressing. Once you have a clear definition of the problem you’re solving, you’ll want to do some fact-finding and research regarding the nature of the problem and possible causes. This research process might include looking into the causes of similar problems that have been resolved in the past, or it might require devising interview questions to ask those involved in the issue. Once you have a list of possible solutions, methodically narrow down your list to the best solution. If you’re working as a team, try to make decisions together and arrive at a consensus solution. Observe how your solution is working and decide if further action needs to be taken. It’s best to decide on a time frame for observation before you follow up and decide whether

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Source: Ministry of Corporate Affairs company master (open data). Capital figures are as-of the 2021 registry snapshot, not live.