10 BUSINESS PROBLEMS

GROUP 7
LEADER: MARCES JOANNA

MEMBERS:

ANOBA, JOHN PAULO F.

CARIÑO, JOHN BASIL

CAGANG, MARY FAITH

1. PROBLEM
Business has a higher profit but got bad reputation.
SOLUTION
Hire a customer support team.

2. PROBLEM
Relying heavily on accounting software
SOLUTION
Perform regular fina1ncial audits to check for accounting errors.

3. PROBLEM
Unnecessary expenditure
SOLUTION
Proper budgeting should be conducted.

4. PROBLEM
Lack of man power to cover all responsibility of having many
accounts due to reducing of employees because of the pandemic.
 SOLUTION
buy or create an accounting software that can control multiple works and
can be easily monitor or handle.

5. PROBLEM
Manpower: The lack of measures of accomplishment,
Efficiency/productivity of work.
SOLUTION
Keeping Up with The Trend of Automation (machines) to increase
productivity.

6. PROBLEM
business has to many competitors.
SOLUTION
Bring in something new and trending in the market and be innovative.

7. PROBLEM
Failure to Plan (business plan)
SOLUTION
Have a strategic plan with your vision, goals, and some market analysis.
Develop a business plan with a detailed budget, cash flow, flowcharts, mind
maps, project charts, and other business strategy diagrams.

8. PROBLEM
Paper Document Storage Issues or lost documents
 SOLUTION
buy or built an accounting system ex. SAP (System Application and
Product in Data processing)

9. PROBLEM
Inventory issues include running out of inventory.
SOLUTION
Use inventory management software ex. Warehouse management system

10. PROBLEM
Business gets higher expense than income due to pandemic.
SOLUTION
Reduce the operating hours and manage the employees.