The Benefits Of Effective Problem-solving Skills

Proverbs 1: 5 ”A wise man will hear, and will increase learning; and a man of understanding shall attain unto wise counsels:”

What Is Problem Solving

Problem solving is the act of defining a difficult issue; determining its cause; identifying, prioritizing, and selecting alternatives for an amicable solution; then implementing the best possible solution.

Problem-solving skills help you in the process to determine, the why and the how, to resolve adverse issues. It starts with accepting that there is a setback and that particular issue is negative either currently or in the future. This skill is depicted by your strength not only to come up with solutions, but to implement and evaluate their effectiveness.

It’s one of the key skills that employers seek in job applicants. It may be the answer to failed family relationships and aborted business efforts. However it is not a stand alone skill and it is not taught; it comes with practical experiences. It is connected to other skills such as level-headedness, resilience, analytical skills and good team-working ability.

Benefits To You

Problem solving requires creativity, which is best learnt through collaboration and brainstorming with others. It is about using logic and your technical expertise to assess a situation and to come up with a workable solution. You learn to clarify the problem, generate ideas and create as many potential solutions as possible.

You also learn to respect others. Everyone, including those newly-qualified, has something to offer.  It allows you to think outside of the box as you develop your mind to be creative with bold initiatives. No new idea is insignificant. Innovation can be incremental; changes can be small or radical.

It allows you to improve your listening and communication skills. This will also make you a better teacher and mentor. Learning to communicate well is vital as you need to build rapport and respect. When you have a good rapport with someone, you are confident to ask questions, which is how you can pin down problems and find answers to solve them.

The saying, practice makes perfect, is very true. Getting practical on-the-job experience is how you can get really good at problem solving. When putting forward ideas, be confident in your contributions because no one will know what your thoughts are unless you express them.

Problem-solving Skills On My Job

As a professional accountant dealing with financial matters I have to shift from a pure focus on fiscal control to one where it has an impact on the business and livelihood as a whole. A lot depends on the finance team to get it right and to do so before any problem escalates. The trend today in the finance world has lots of problems, with covid being one of the main contributors.

My role is to look at everything in detail to pick-up anomalies, patterns and correlations in order to advise those involved. If I fail to pick up and analyse problems correctly, the accounts could be wrong and misleading. In the worst case scenario, it could even lead to closure of the business.

Mistakes on my part means my employer would be relying on incorrect data, which could have a detrimental effect on the future of the business. And, of course, when external stakeholders are relying on the data, then I could potentially be misleading them too. Incorrect accounts could also have other serious knock-on effects such as law suites and accusations of fraud.

When accounting figures are incorrect, then the tax payments will be incorrect. The information given to the external auditors will also be incorrect. This can result in financial burden and penalties not to mention my reputation will be at stake which will impact my career.

The requirement for problem-solving skills is part of this transition as, by mining data and analysing trends, we are involved in translating numbers into actionable insights for all stakeholders. By putting my data skills and problem-solving skills to work together, I also help uncover potential areas for concern.

We Are All In This

Whether it is at the nitty-gritty level in your marriage, parenting or career you will be called to reconcile issues and situations on a personal basis.  Trying to understand why, investigating and making clear, conscious and unselfish decisions on matters is a daily occurrence and requirement for all of us.

In your work place, you may be given the opportunity to help analyze projects, and communicate your findings to various parts of that business. You can be involved in major or minor decisions that shape the company you work for.

In your own business, if you already have one, problem solving skills are critical. They help with the evaluation and selection on issues that build your business. They also assist in testing new systems and facilitate changes so that you can keep abreast of times. It’s one of the key skills that a self-employed person needs to succeed. 

Ways To Avoid Problems

  1. Make a plan to work with. While you don’t know what is going to happen in the future, you can always plan ahead.
  2. Know that you’re not alone. Build relationships that you can rely on. This will boost your confidence.
  3. Ask for help when needed. Every person in this world has their low points and can be vulnerable.
  4. Accept support from love ones. Be sensible, don’t allow pride to make you rebuff assistance. Build a network of support team members.
  5. Help others with their problems. Make yourself available to help others you will learn from these and create good rapport at the same time
  6. Always have a positive mindset. This will make you see the brighter side of the problem knowing that, whatever the situation, this too will pass.

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