2. Business Plan
● Puddle Jumpers Airlines, Inc ● Management is experienced in
airline start ups.
● New consumer airline
● Fill in the gap for domestic travel
around Anytown, U.S.A.
4. The 5 Whys
Benefits:
Quickly getting to a root of a problem
It's simple, easy to learn and apply
Cons:
It is only appropriate for broad aspects, not
complex as it would possibly lead down the
wrong trail.
5. Cost-Benefit Analysis
Jules Dupuit, 1930s
Adding up the benefits and comparing
these with the costs associated with
them. Often expressed as payback
period.
Can be used to:
● Decide whether to hire new
personnel.
● Evaluate a new project.
6. Force-field Analysis
Kurt Lewin in the 1940s
Used in business, for making
and communicating go/no-go
decisions
how is it used?
7. Six Thinking Hats
o White – Factual Information
o Red – Thinking Based on Emotions and Feelings
o Black – Consideration of Only The Bad Points of a
Decision
o Yellow – All The Benefits of a Decision
o Green – Creative Solutions To a Problem
o Blue – Neutral Thinking
8. Fishbone Diagram
● Kaoru Ishikawa
● The Fishbone Diagram was published in his
book in 1990, "Introduction to Quality
Control."
● Find the root cause of a
problem.
● Reveal holdups in your
processes.
● Identify where and why a
process is not working.
9. Decision Trees
o Its a technique used for examining the forces for and against a decision
o Driving forces: Advantages of carrying out a decision, the outcome of
making a decision
o Restraining Forces: disadvantages or limitations of carrying out a decisions,
the outcome of making a decision
o Weigh each encouraging forces and burdening forces on a scale of 1-5
according to the importance as valued by the decision maker. Then compare
the relative effect by each force
o Helps to make better decisions by outweighing the forces
10. Bibliography
-"Free Business Plans and Business Planning Resources - SBA and Palo Alto Software. N.p., 28 Apr. 2011. Web. 11 Dec. 2012.
-"5 Whys." Mind Tools New Articles RSS. N.p., 3 Mar. 2010. Web. 11 Dec. 2012.
-"Fishbone Diagram Problem-Analysis Tool." Untitled Document. N.p., 2 July 2011. Web. 7 Dec. 2012.
-"Cost-Benefit Analysis." Mind Tools New Articles RSS. N.p., 11 Sept. 2010. Web. 7 Dec. 2012.
-"Force Field Analysis." Mind Tools New Articles RSS. N.p., 19 Jan. 2011. Web. 7 Dec. 2012.
-"Six Thinking Hats." Mind Tools New Articles RSS. N.p., 12 Oct. 2009. Web. 7 Dec. 2012.
-"Decision Trees." Mind Tools New Articles RSS. N.p., 4 Feb. 2011. Web. 7 Dec. 2012.
-"Cause and Effect Analysis." Mind Tools New Articles RSS. N.p., 11 May 2011. Web. 11 Dec. 2012.
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