Problem Solving in Business

This assignment examines a case study of Sarah, a business owner facing difficulties with recording and managing cash inflow and outflow. The report analyzes the problems she encounters, such as discrepancies in financial transactions and potential internal issues. It then proposes solutions, including hiring an accountant, implementing a cyber computing enterprise resources planning system, and adopting best practices for recording transactions. The case highlights the importance of effective cash flow management and transparency in business operations.

Running Head- Problem solving activities 1
Name of the student-
Topic: Problem solving activities
University Name-

Problem solving 2
This report reflects the case study analysis and how Sarah could minimize the risk of
losing money in her business. This case has shown the problem of management of inflow and
outflow of cash and fear of losing money due to non-effective recording of cash inflow and
outflow. However, in order to mitigate these problems, Sarah could use cyber computing
enterprises resources planning in its business. This will increase the transparency of business
reporting frameworks.
Identification of problems
Sarah has problem in recording of right amount of cash inflow and outflow of business.
She has also observed that despite of no decline of sales, cash inflow in business has gone due by
very drastic amount. The business of Sarah is accompanied by the various internal and external
recording of cash in business. This is very basic problem which each and every business faces.
However, in order to mitigate these issues, Sarah needs to change business staff or should make
proper surveillance on its cash recording transactions. Ideally, hiring accountant or matching
cash book with the financial statement of company could show case all the discrepancies in
recording of business financial transactions. In addition to this, double entry system will mitigate
possible problem of management of business transactions in determined approach (He, Zha & Li,
(2013).
Analysis the problem
The main problem which Sarah has faced in its business is related to recording of cash of
in its business. However, after analyzing the case, it is observed that decline in the overall cash
inflow may be arise due to the change in the operational activities or increased investment in

Problem solving 3
particular activities of business. Company could use cyber computing enterprises resources
planning in its business or accountant to match its all the dr. and cr amount. This double entry
system will increase the overall efficiency of business and increased value of business at large.
This recording of cash transactions has occurred due to the non-effective recording system. If
company could mitigate these recording of cash transactions then these fear of losing cash may
be overcome. However, Sarah needs to install proper mechanism and should follow IFRS
transactions recording format. This will increase the effectiveness of recording business
transaction in determined approach (Hancock & Algozzine, (2016).
Formulate possible solution
After evaluating the possible problems and factors of organization, it is considered that
Sarah needs to identify the actual problem of decline of cash and trustworthiness of their
employees. If Sarah finds that new students hired as trainee in the organization could be culprit
then he should hire some other person in management of cash inflow and outflow. In addition to
this, adoption of cyber computing enterprises resources planning in its business accounting
system will increase the transparency and valuation of assets in determined approach. After
evaluating all the data, it is observed that if Sarah could install cyber computing enterprises
resources planning in its business then it will increase the transparency of all the business
transactions and loss of money in its business. However, in the initial time, it will increase the
overall cost of capital of business but eventually it will keep Sarah away from the fear of losing
money. The main target of Sarah is to curb the recording of business financial transactions.
Sarah needs to do the following activities (Grant, (2016).

Problem solving 4
She needs to hire accountant who could asses all the internal and external flow of money and
business goods.
Installing cyber computing enterprises resources planning in its business will increase the
transparency of business in recording of transactions
Best possible solution which Sarah Roberts could undertake
It is evaluated that all of the above given options are best for Sarah to curb the loss of its
money in her business events. However, the best possible solution for Sarah is to install cyber
computing enterprises resources planning in its business. This will not only increase the
transparency of recording of transactions but also create fear in all the employees if they take
wrong steps in business. This cyber computing enterprises resources planning in its business will
make the payment mode online and currency value transactions will be dematerialized and loss
of money fear will be eliminated directly.
Now in the end, it could be inferred that losing of money in business is the basic fear
which each and every businessman has to face. The best possible action is to adopt the cyber
computing enterprises resources planning to establish automation in business.

Problem solving 5
References
Grant, R. M. (2016). Contemporary Strategy Analysis Text Only. John Wiley & Sons.
Hancock, D. R., & Algozzine, B. (2016). Doing case study research: A practical guide for
beginning researchers. Teachers College Press.
He, W., Zha, S., & Li, L. (2013). Social media competitive analysis and text mining: A case
study in the pizza industry. International Journal of Information Management, 33(3),
464-472.