A solution is an action plan that solves a problem or crisis at hand.
A solution is particularly important in a business setting as businesses face internal and external forces that cause problems regularly. Solutions may be as simple as rearranging a schedule or as complex as restructuring a large corporation.
Solutions must have a favorable outcome. If the action plan resulted in an adverse outcome, that would not be a solution as they did not fix the problem. If they solved the initial issue, but in the process, created another issue or the consequences for solving the issue at hand outweighed the result's benefits, this would no longer be a solution.
Example of Solution
An example of a solution would be if a local restaurant served a customer an undercooked steak. The customer was quite unhappy with her substandard meal, as the steak was quite expensive. In addition to the customer feeling as if her dining experience was subpar, the raw meat could contain bacteria that could lead to illness. The combined flaws in the meal make this customer feel quite dissatisfied. She made quite a scene at the restaurant, shouting that she would leave a poor review on the company webpage.
Once a commotion began, management rushed to the customer's side. The manager quickly calmed the customer down and created an action plan on the spot. The manager offered the customer a replacement steak, in addition to removing the cost from the bill. As well as replacing the disappointing product, the manager decided to offer the customer a free bottle of wine to enjoy with her new steak. This manager made a quick calculation and determined the value of the steak and wine to be less than the cost of future lost business over an online review. As a result of the amends made by the restaurant, the customer left happy. They decided that the service was exemplary and left a glowing review.
Pacifying an angry customer is an example of a business facing and dealing with an external problem. The staff followed an action plan by offering to replace the faulty product and add a gift to appease the angry customer. The staff found a solution to the problem to an angry customer. Had the customer left dissatisfied, they would have left a negative review, affecting future business.
Significance of Solution
Solutions are important in daily business practices. Because a business encounters many scenarios every day, issues will inevitably occur. If a business chooses to ignore a problem, the problem will worsen. When companies are not involved in all aspects of daily tasks, profits suffer.
However, in companies that are active in their business practices, they are able to contain potentially problematic situations. This allows the company to avoid suffering financial losses. Avoiding losses is not the primary function of creating solutions. Solutions should also serve to advance a company in all aspects. Solutions should improve operating systems, protocol, employee services, and customer experience.