ABSTRACT
Executives and managers have to be constantly on the lookout for problems and might be able to identify them in one of a number of ways:
1 By comparing current experiences with past experiences 2 By comparing current experiences with current objectives or plans 3 By comparing performance with models of desirable outcomes 4 By comparing performance with that of other organizations or sub-units
(Pounds, 1969)
Pounds noted that the most commonly used approach was the first, and that the third and fourth were rarely used. Some business problems require extensive study because they seem likely to uncover the possibility of producing profitable marketing opportunities or, conversely, sizeable losses. Some will require immediate attention while others may be less urgent.
