GEB 4522 Exam 1 Study Guide Questions with
Correct Answers
Describe the contents and purpose of the problem statement. Correct
Answer-It's going to spell out your goals. It will lay out boundaries on
the problem solving space. It will define success criteria. Your problem
statement should spell out the constraints you're going to face. It should
articulate your assumptions, who the stakeholders are, and any timelines
that you're going to face.
Explain what it means to ask the question behind the question. Correct
Answer-Seek to understand why you're asked to look at something, then
ask why again to get a deep understanding of what causing issue which
will avoid solving symptoms and more on causes of the symptoms.
Describe three ways to view a problem through a different lens. Correct
Answer-Can you change your point of view (different perspectives of
the problem), context (can you imagine the problem in new ways), and
reality (ask what if?)?
Differentiate between symptoms and causes, including the role of
chronology. Correct Answer-A cause is the root of a problem and
symptoms are a result of the root cause of the problem. Chronology is
laying out that path that says, if I do this, then this might happen, then
this might happen, is going to help you predict some of the outcomes
that you could face, and if those might be bad outcomes, it can impact
the type of recommendation you make in the first place
, Differentiate between business model blow-up, revenue blow-up, and
cost blow-up. Correct Answer-On the business model blow-up,
fundamentally rethink about how you go to market. Even rethink what
your market actually is. You're going to challenge the entire business
model for the way you deliver products and services. On the revenue
blow-up side, how do you dramatically expand the products, your
pricing, the geography, the reach of your business? And on the cost
blow-up, how do you challenge the business model and what you're
spending money on? How do you fundamentally eliminate drag from the
business to become much more efficient?
Explain and apply the "5 whys" approach to problem identification.
Correct Answer-The 5 whys allow us to ask why and really understand
the cause, the 4th or 5th why is where you'll find the real insight/root
cause of symptoms
Explain and apply the "7 so whats" approach to solution generation
Correct Answer-A thinking tool used to outline the consequences of an
action
Explain and apply the 80/20 rule to choosing what analysis to do and
what problems to solve. Correct Answer-20% of the drivers will drive
80% of the results. Focus resources on problems or drivers that affect a
majority of the results.
Describe how to prioritize the use of resources in critical thinking.
Correct Answer-When conducting an analysis focus on tasks that will
have the most impact on the problem you are facing.
Correct Answers
Describe the contents and purpose of the problem statement. Correct
Answer-It's going to spell out your goals. It will lay out boundaries on
the problem solving space. It will define success criteria. Your problem
statement should spell out the constraints you're going to face. It should
articulate your assumptions, who the stakeholders are, and any timelines
that you're going to face.
Explain what it means to ask the question behind the question. Correct
Answer-Seek to understand why you're asked to look at something, then
ask why again to get a deep understanding of what causing issue which
will avoid solving symptoms and more on causes of the symptoms.
Describe three ways to view a problem through a different lens. Correct
Answer-Can you change your point of view (different perspectives of
the problem), context (can you imagine the problem in new ways), and
reality (ask what if?)?
Differentiate between symptoms and causes, including the role of
chronology. Correct Answer-A cause is the root of a problem and
symptoms are a result of the root cause of the problem. Chronology is
laying out that path that says, if I do this, then this might happen, then
this might happen, is going to help you predict some of the outcomes
that you could face, and if those might be bad outcomes, it can impact
the type of recommendation you make in the first place
, Differentiate between business model blow-up, revenue blow-up, and
cost blow-up. Correct Answer-On the business model blow-up,
fundamentally rethink about how you go to market. Even rethink what
your market actually is. You're going to challenge the entire business
model for the way you deliver products and services. On the revenue
blow-up side, how do you dramatically expand the products, your
pricing, the geography, the reach of your business? And on the cost
blow-up, how do you challenge the business model and what you're
spending money on? How do you fundamentally eliminate drag from the
business to become much more efficient?
Explain and apply the "5 whys" approach to problem identification.
Correct Answer-The 5 whys allow us to ask why and really understand
the cause, the 4th or 5th why is where you'll find the real insight/root
cause of symptoms
Explain and apply the "7 so whats" approach to solution generation
Correct Answer-A thinking tool used to outline the consequences of an
action
Explain and apply the 80/20 rule to choosing what analysis to do and
what problems to solve. Correct Answer-20% of the drivers will drive
80% of the results. Focus resources on problems or drivers that affect a
majority of the results.
Describe how to prioritize the use of resources in critical thinking.
Correct Answer-When conducting an analysis focus on tasks that will
have the most impact on the problem you are facing.
