Initial Meeting, Problem Definition & Problem Analysis

Student’s Name
Professor’s Name
Course
Date
Paper 1: Initial Meeting, Problem Definition, & Problem Analysis

• Gather preliminary data
  
  
  
  • With what organization are you working?
  
  
  
  

We are working with Fashion Nova, a fast-fashion retail firm based in Los Angeles, California.

• With whom did you meet?

We contacted the entity’s sales manager via email and arranged a face-to-face interview, where we discussed the various challenges that the business faced.

• What did you learn?

We learned that the business operates five brick-and-mortar locations. All of these stores have been registering an almost similar number of sales and hence close profits. However, recently, the firm has registered a worrying trend, where only two of its five outlets have maintained their profitability.
 

• Define the problem
  
  
  
  • Based on your preliminary meeting, on what problem will you focus?
  
  
  
  

Our meeting will focus on understanding performance variation among businesses that initially registered close performance.  

• Define the problem you focused on in terms of a measurable discrepancy.

Initially, the outlets registered only a slight variation in their performance, with each outlet selling at least 75% of its stock by the end of the week. However, in the preceding weeks, only two stores managed to maintain this trend. The rest only managed to sell 50% of their stock.

• Why is this problem important to the organization?

The problem is of great importance because the reducing amount of sales is a red flag to attaining its goals.
 

• Analyze the problem
  
  
  
  • Draw a , which should include a definition of the problem (at the head of the fish), as well potential causes of the problem (along the backbone)
  
  
  
  

 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
PAPER 2
 
 TEAM NAME

 
Restate Problem Definition and Analysis
 
Problem Definition:
Each company outlet sh...