{"version":"1.0.0","segments":[{"speaker":"Unknown","startTime":4.98,"endTime":7.5,"body":"As leaders in finance"},{"speaker":"Unknown","startTime":4.98,"endTime":7.5,"body":"and accounting, we are asked to"},{"speaker":"Unknown","startTime":7.5,"endTime":9.27,"body":"analyze problems constantly."},{"speaker":"Unknown","startTime":12.269,"endTime":15.599,"body":"Leaders solve the critical"},{"speaker":"Unknown","startTime":12.269,"endTime":15.599,"body":"problems of the organization, we"},{"speaker":"Unknown","startTime":15.599,"endTime":18.659,"body":"don't let issues grow into"},{"speaker":"Unknown","startTime":15.599,"endTime":18.659,"body":"bigger problems. The most"},{"speaker":"Unknown","startTime":18.659,"endTime":21.899,"body":"difficult part of problem"},{"speaker":"Unknown","startTime":18.659,"endTime":21.899,"body":"solving is to identify what the"},{"speaker":"Unknown","startTime":21.899,"endTime":25.349,"body":"real problem is followed by"},{"speaker":"Unknown","startTime":21.899,"endTime":25.349,"body":"performing the analysis to"},{"speaker":"Unknown","startTime":25.349,"endTime":29.489,"body":"develop viable options, and then"},{"speaker":"Unknown","startTime":25.349,"endTime":29.489,"body":"deciding the solution which is"},{"speaker":"Unknown","startTime":29.489,"endTime":33.569,"body":"best for the organization moving"},{"speaker":"Unknown","startTime":29.489,"endTime":33.569,"body":"forward. It sounds easy, but it"},{"speaker":"Unknown","startTime":33.569,"endTime":37.319,"body":"takes leadership to accept that"},{"speaker":"Unknown","startTime":33.569,"endTime":37.319,"body":"a problem exists, and to be able"},{"speaker":"Unknown","startTime":37.319,"endTime":41.459,"body":"to commit resources to analyze"},{"speaker":"Unknown","startTime":37.319,"endTime":41.459,"body":"it and correct it. Please enjoy"},{"speaker":"Unknown","startTime":41.459,"endTime":44.699,"body":"the episode. Welcome to the"},{"speaker":"Unknown","startTime":41.459,"endTime":44.699,"body":"finance leader podcast where"},{"speaker":"Unknown","startTime":44.699,"endTime":48.089,"body":"leadership is bigger than the"},{"speaker":"Unknown","startTime":44.699,"endTime":48.089,"body":"numbers. I am your host, Stephen"},{"speaker":"Unknown","startTime":48.089,"endTime":52.199,"body":"McLean. This is the podcast for"},{"speaker":"Unknown","startTime":48.089,"endTime":52.199,"body":"developing leaders in finance"},{"speaker":"Unknown","startTime":52.229,"endTime":55.349,"body":"and accounting. Please consider"},{"speaker":"Unknown","startTime":52.229,"endTime":55.349,"body":"following me on Twitter,"},{"speaker":"Unknown","startTime":55.379,"endTime":59.189,"body":"Facebook, Instagram and"},{"speaker":"Unknown","startTime":55.379,"endTime":59.189,"body":"LinkedIn. My usernames and the"},{"speaker":"Unknown","startTime":59.189,"endTime":63.509,"body":"links are in this episode's show"},{"speaker":"Unknown","startTime":59.189,"endTime":63.509,"body":"notes. And also, please join the"},{"speaker":"Unknown","startTime":63.509,"endTime":67.169,"body":"Facebook group I have for this"},{"speaker":"Unknown","startTime":63.509,"endTime":67.169,"body":"podcast community. Thank you."},{"speaker":"Unknown","startTime":67.619,"endTime":71.339,"body":"This is episode number 94. And"},{"speaker":"Unknown","startTime":67.619,"endTime":71.339,"body":"I'll be talking about problem"},{"speaker":"Unknown","startTime":71.339,"endTime":75.029,"body":"solving. And I will highlight"},{"speaker":"Unknown","startTime":71.339,"endTime":75.029,"body":"the following topics. Number"},{"speaker":"Unknown","startTime":75.029,"endTime":79.379,"body":"one, developing a problem"},{"speaker":"Unknown","startTime":75.029,"endTime":79.379,"body":"solving skill set. Number two,"},{"speaker":"Unknown","startTime":79.439,"endTime":84.209,"body":"problem solving is a process."},{"speaker":"Unknown","startTime":79.439,"endTime":84.209,"body":"Number three, sound problem"},{"speaker":"Unknown","startTime":84.209,"endTime":88.949,"body":"solving leads to better decision"},{"speaker":"Unknown","startTime":84.209,"endTime":88.949,"body":"making. And four be a leader in"},{"speaker":"Unknown","startTime":88.949,"endTime":92.639,"body":"all problem solving and decision"},{"speaker":"Unknown","startTime":88.949,"endTime":92.639,"body":"making. executive coach and"},{"speaker":"Unknown","startTime":92.639,"endTime":96.629,"body":"author Michael gobe said you can"},{"speaker":"Unknown","startTime":92.639,"endTime":96.629,"body":"increase your problem solving"},{"speaker":"Unknown","startTime":96.629,"endTime":100.799,"body":"skills by honing your question"},{"speaker":"Unknown","startTime":96.629,"endTime":100.799,"body":"asking ability. This week, I"},{"speaker":"Unknown","startTime":100.799,"endTime":104.129,"body":"will be providing an"},{"speaker":"Unknown","startTime":100.799,"endTime":104.129,"body":"introduction to problem solving"},{"speaker":"Unknown","startTime":104.159,"endTime":107.999,"body":"and decision making. I chose"},{"speaker":"Unknown","startTime":104.159,"endTime":107.999,"body":"this topic on purpose, following"},{"speaker":"Unknown","startTime":107.999,"endTime":110.879,"body":"what I have discussed over the"},{"speaker":"Unknown","startTime":107.999,"endTime":110.879,"body":"last few weeks, such as"},{"speaker":"Unknown","startTime":110.879,"endTime":115.349,"body":"financial planning and analysis"},{"speaker":"Unknown","startTime":110.879,"endTime":115.349,"body":"and Episode 91, data validation"},{"speaker":"Unknown","startTime":115.349,"endTime":120.029,"body":"and episode 92. And last week in"},{"speaker":"Unknown","startTime":115.349,"endTime":120.029,"body":"Episode 93, it was about"},{"speaker":"Unknown","startTime":120.029,"endTime":123.389,"body":"adopting artificial"},{"speaker":"Unknown","startTime":120.029,"endTime":123.389,"body":"intelligence. The components of"},{"speaker":"Unknown","startTime":123.389,"endTime":127.289,"body":"all three of these topics help"},{"speaker":"Unknown","startTime":123.389,"endTime":127.289,"body":"us address problem solving and"},{"speaker":"Unknown","startTime":127.289,"endTime":130.589,"body":"decision making. But we don't"},{"speaker":"Unknown","startTime":127.289,"endTime":130.589,"body":"address problem solving as an"},{"speaker":"Unknown","startTime":130.589,"endTime":134.819,"body":"essential skill set enough with"},{"speaker":"Unknown","startTime":130.589,"endTime":134.819,"body":"our teammates or even when we"},{"speaker":"Unknown","startTime":134.819,"endTime":138.509,"body":"interview potential candidates,"},{"speaker":"Unknown","startTime":134.819,"endTime":138.509,"body":"we often don't even know that a"},{"speaker":"Unknown","startTime":138.509,"endTime":142.979,"body":"problem exists or even know how"},{"speaker":"Unknown","startTime":138.509,"endTime":142.979,"body":"to properly address it. Once we"},{"speaker":"Unknown","startTime":142.979,"endTime":147.359,"body":"do see it. We think something"},{"speaker":"Unknown","startTime":142.979,"endTime":147.359,"body":"may be happening. Then we ask an"},{"speaker":"Unknown","startTime":147.359,"endTime":151.349,"body":"analyst to pull some data, and"},{"speaker":"Unknown","startTime":147.359,"endTime":151.349,"body":"maybe you find something. But"},{"speaker":"Unknown","startTime":151.349,"endTime":154.949,"body":"have you used a formal problem"},{"speaker":"Unknown","startTime":151.349,"endTime":154.949,"body":"solving process. We are"},{"speaker":"Unknown","startTime":154.949,"endTime":158.369,"body":"definitely problem solvers and"},{"speaker":"Unknown","startTime":154.949,"endTime":158.369,"body":"finance and accounting. Not all"},{"speaker":"Unknown","startTime":158.369,"endTime":162.359,"body":"may follow a formal process. But"},{"speaker":"Unknown","startTime":158.369,"endTime":162.359,"body":"I do believe that we need to"},{"speaker":"Unknown","startTime":162.359,"endTime":165.719,"body":"train it more and expect our"},{"speaker":"Unknown","startTime":162.359,"endTime":165.719,"body":"team members to embrace and"},{"speaker":"Unknown","startTime":165.719,"endTime":169.769,"body":"become problem solvers. We have"},{"speaker":"Unknown","startTime":165.719,"endTime":169.769,"body":"access to data that may very"},{"speaker":"Unknown","startTime":169.769,"endTime":172.739,"body":"well get us closer to"},{"speaker":"Unknown","startTime":169.769,"endTime":172.739,"body":"understanding a problem clear,"},{"speaker":"Unknown","startTime":173.039,"endTime":176.339,"body":"and also for developing"},{"speaker":"Unknown","startTime":173.039,"endTime":176.339,"body":"solution. Let's build these"},{"speaker":"Unknown","startTime":176.339,"endTime":179.639,"body":"skills, it will make a"},{"speaker":"Unknown","startTime":176.339,"endTime":179.639,"body":"difference especially as you"},{"speaker":"Unknown","startTime":179.639,"endTime":183.089,"body":"rise in position and"},{"speaker":"Unknown","startTime":179.639,"endTime":183.089,"body":"responsibility. It will be the"},{"speaker":"Unknown","startTime":183.089,"endTime":187.379,"body":"problem solvers who get the"},{"speaker":"Unknown","startTime":183.089,"endTime":187.379,"body":"promotions. We know that senior"},{"speaker":"Unknown","startTime":187.379,"endTime":190.769,"body":"leaders usually rely on a"},{"speaker":"Unknown","startTime":187.379,"endTime":190.769,"body":"strategy development or"},{"speaker":"Unknown","startTime":190.769,"endTime":195.149,"body":"strategic initiatives team to"},{"speaker":"Unknown","startTime":190.769,"endTime":195.149,"body":"work on future issues or to take"},{"speaker":"Unknown","startTime":195.149,"endTime":198.719,"body":"on organizational level"},{"speaker":"Unknown","startTime":195.149,"endTime":198.719,"body":"problems. They are often looking"},{"speaker":"Unknown","startTime":198.719,"endTime":202.439,"body":"at new markets and new"},{"speaker":"Unknown","startTime":198.719,"endTime":202.439,"body":"opportunities and solving issues"},{"speaker":"Unknown","startTime":202.469,"endTime":206.309,"body":"that don't even exist yet. We"},{"speaker":"Unknown","startTime":202.469,"endTime":206.309,"body":"know they're often using a"},{"speaker":"Unknown","startTime":206.309,"endTime":210.419,"body":"formal problem solving process."},{"speaker":"Unknown","startTime":206.309,"endTime":210.419,"body":"My desire is that teams around"},{"speaker":"Unknown","startTime":210.419,"endTime":215.069,"body":"the company also adopt a similar"},{"speaker":"Unknown","startTime":210.419,"endTime":215.069,"body":"process. It may not be as"},{"speaker":"Unknown","startTime":215.069,"endTime":219.449,"body":"complex, but I believe a similar"},{"speaker":"Unknown","startTime":215.069,"endTime":219.449,"body":"framework, though on a smaller"},{"speaker":"Unknown","startTime":219.449,"endTime":223.799,"body":"scale will make a huge positive"},{"speaker":"Unknown","startTime":219.449,"endTime":223.799,"body":"impact. It takes a leadership"},{"speaker":"Unknown","startTime":223.799,"endTime":227.759,"body":"emphasis to own a problem. So"},{"speaker":"Unknown","startTime":223.799,"endTime":227.759,"body":"you identify root causes of that"},{"speaker":"Unknown","startTime":227.759,"endTime":232.049,"body":"problem, analyze it, and then"},{"speaker":"Unknown","startTime":227.759,"endTime":232.049,"body":"commit resources to solve it to"},{"speaker":"Unknown","startTime":232.049,"endTime":237.719,"body":"get to root causes. Ask why a"},{"speaker":"Unknown","startTime":232.049,"endTime":237.719,"body":"lot, then find the data. Keep"},{"speaker":"Unknown","startTime":237.719,"endTime":241.379,"body":"asking why a little deeper,"},{"speaker":"Unknown","startTime":237.719,"endTime":241.379,"body":"until you get to the real cause"},{"speaker":"Unknown","startTime":241.379,"endTime":245.669,"body":"of the problem. What sequence of"},{"speaker":"Unknown","startTime":241.379,"endTime":245.669,"body":"events or conditions led to this"},{"speaker":"Unknown","startTime":245.669,"endTime":249.689,"body":"problem? And are there other"},{"speaker":"Unknown","startTime":245.669,"endTime":249.689,"body":"problems or smaller issues that"},{"speaker":"Unknown","startTime":249.689,"endTime":253.799,"body":"surround this problem? Asking"},{"speaker":"Unknown","startTime":249.689,"endTime":253.799,"body":"why in breaking down conditions"},{"speaker":"Unknown","startTime":253.799,"endTime":257.639,"body":"around the problem? Help us get"},{"speaker":"Unknown","startTime":253.799,"endTime":257.639,"body":"to the root cause without the"},{"speaker":"Unknown","startTime":257.639,"endTime":261.839,"body":"root cause you will never solve"},{"speaker":"Unknown","startTime":257.639,"endTime":261.839,"body":"the real problem. A more formal"},{"speaker":"Unknown","startTime":261.839,"endTime":265.289,"body":"process on our finance and"},{"speaker":"Unknown","startTime":261.839,"endTime":265.289,"body":"accounting teams will help us to"},{"speaker":"Unknown","startTime":265.289,"endTime":268.049,"body":"organize our thoughts and to"},{"speaker":"Unknown","startTime":265.289,"endTime":268.049,"body":"present critical facts and"},{"speaker":"Unknown","startTime":268.049,"endTime":272.549,"body":"assumptions as we develop"},{"speaker":"Unknown","startTime":268.049,"endTime":272.549,"body":"options to solve the problem. I"},{"speaker":"Unknown","startTime":272.549,"endTime":275.099,"body":"know our analysts and"},{"speaker":"Unknown","startTime":272.549,"endTime":275.099,"body":"accountants are trying to solve"},{"speaker":"Unknown","startTime":275.099,"endTime":278.279,"body":"problems, but maybe trying"},{"speaker":"Unknown","startTime":275.099,"endTime":278.279,"body":"different methods to get an"},{"speaker":"Unknown","startTime":278.279,"endTime":282.479,"body":"answer, or maybe only focusing"},{"speaker":"Unknown","startTime":278.279,"endTime":282.479,"body":"on delivering data. Instead of"},{"speaker":"Unknown","startTime":282.479,"endTime":286.529,"body":"more thought out and detailed"},{"speaker":"Unknown","startTime":282.479,"endTime":286.529,"body":"options. Please have an open"},{"speaker":"Unknown","startTime":286.529,"endTime":290.849,"body":"mind that your organization does"},{"speaker":"Unknown","startTime":286.529,"endTime":290.849,"body":"have issues to be fixed. We may"},{"speaker":"Unknown","startTime":290.849,"endTime":294.749,"body":"run to the easy problems first,"},{"speaker":"Unknown","startTime":290.849,"endTime":294.749,"body":"and then put up a larger or more"},{"speaker":"Unknown","startTime":294.749,"endTime":298.409,"body":"complex problem later,"},{"speaker":"Unknown","startTime":294.749,"endTime":298.409,"body":"especially if that problem is a"},{"speaker":"Unknown","startTime":298.409,"endTime":299.939,"body":"tough or troubling topic."},{"speaker":"Unknown","startTime":300.359,"endTime":303.989,"body":"It could be an organizational"},{"speaker":"Unknown","startTime":300.359,"endTime":303.989,"body":"culture issue, or that a pet"},{"speaker":"Unknown","startTime":303.989,"endTime":307.469,"body":"project of a senior leader is"},{"speaker":"Unknown","startTime":303.989,"endTime":307.469,"body":"failing, it could be several"},{"speaker":"Unknown","startTime":307.469,"endTime":311.309,"body":"different issues. So how do you"},{"speaker":"Unknown","startTime":307.469,"endTime":311.309,"body":"address such sensitive issues?"},{"speaker":"Unknown","startTime":311.399,"endTime":315.599,"body":"Well, it requires a tough"},{"speaker":"Unknown","startTime":311.399,"endTime":315.599,"body":"mindset, fortitude, and great"},{"speaker":"Unknown","startTime":315.599,"endTime":319.289,"body":"leadership to address it. It"},{"speaker":"Unknown","startTime":315.599,"endTime":319.289,"body":"requires open mindedness to"},{"speaker":"Unknown","startTime":319.289,"endTime":323.429,"body":"overcome any bias, and it"},{"speaker":"Unknown","startTime":319.289,"endTime":323.429,"body":"requires a formal process to"},{"speaker":"Unknown","startTime":323.429,"endTime":328.289,"body":"analyze it. And then to come to"},{"speaker":"Unknown","startTime":323.429,"endTime":328.289,"body":"a decision. How does bias affect"},{"speaker":"Unknown","startTime":328.289,"endTime":332.279,"body":"our problem solving. Let's"},{"speaker":"Unknown","startTime":328.289,"endTime":332.279,"body":"always avoid confirmation bias."},{"speaker":"Unknown","startTime":332.309,"endTime":335.609,"body":"I like all sides and"},{"speaker":"Unknown","startTime":332.309,"endTime":335.609,"body":"perspectives of an issue to be"},{"speaker":"Unknown","startTime":335.609,"endTime":339.449,"body":"addressed. So we arrive at a"},{"speaker":"Unknown","startTime":335.609,"endTime":339.449,"body":"solution that ensures we don't"},{"speaker":"Unknown","startTime":339.449,"endTime":343.559,"body":"have bias built in. We often"},{"speaker":"Unknown","startTime":339.449,"endTime":343.559,"body":"feel defensive or feel strongly"},{"speaker":"Unknown","startTime":343.559,"endTime":346.769,"body":"about an issue, which affects"},{"speaker":"Unknown","startTime":343.559,"endTime":346.769,"body":"how we view any problem"},{"speaker":"Unknown","startTime":346.769,"endTime":351.419,"body":"associated with a topic that may"},{"speaker":"Unknown","startTime":346.769,"endTime":351.419,"body":"belong to us. So we may include"},{"speaker":"Unknown","startTime":351.419,"endTime":356.549,"body":"bias in any proposed analysis"},{"speaker":"Unknown","startTime":351.419,"endTime":356.549,"body":"and solutions for it. recognize"},{"speaker":"Unknown","startTime":356.549,"endTime":361.229,"body":"and avoid all types of bias, be"},{"speaker":"Unknown","startTime":356.549,"endTime":361.229,"body":"open minded and more self aware,"},{"speaker":"Unknown","startTime":361.529,"endTime":365.129,"body":"problem solving is a process"},{"speaker":"Unknown","startTime":361.529,"endTime":365.129,"body":"there's a formal process to"},{"speaker":"Unknown","startTime":365.129,"endTime":368.429,"body":"solving problems. That includes"},{"speaker":"Unknown","startTime":365.129,"endTime":368.429,"body":"identifying the problem to"},{"speaker":"Unknown","startTime":368.429,"endTime":372.329,"body":"gathering facts and assumptions,"},{"speaker":"Unknown","startTime":368.429,"endTime":372.329,"body":"and then developing criteria and"},{"speaker":"Unknown","startTime":372.329,"endTime":376.169,"body":"courses of action to finally"},{"speaker":"Unknown","startTime":372.329,"endTime":376.169,"body":"making a decision and then"},{"speaker":"Unknown","startTime":376.469,"endTime":380.309,"body":"evaluating that decision if it"},{"speaker":"Unknown","startTime":376.469,"endTime":380.309,"body":"was the correct decision. When I"},{"speaker":"Unknown","startTime":380.309,"endTime":384.359,"body":"served in the army, I attended a"},{"speaker":"Unknown","startTime":380.309,"endTime":384.359,"body":"weeks long course, to learn the"},{"speaker":"Unknown","startTime":384.359,"endTime":388.079,"body":"Army's problem solving and"},{"speaker":"Unknown","startTime":384.359,"endTime":388.079,"body":"decision making process. It was"},{"speaker":"Unknown","startTime":388.079,"endTime":392.159,"body":"amazing to apply formal process"},{"speaker":"Unknown","startTime":388.079,"endTime":392.159,"body":"to analyzing and correcting an"},{"speaker":"Unknown","startTime":392.159,"endTime":395.819,"body":"issue in the military, we do"},{"speaker":"Unknown","startTime":392.159,"endTime":395.819,"body":"wait on more senior leaders to"},{"speaker":"Unknown","startTime":395.819,"endTime":399.989,"body":"identify and begin the problem"},{"speaker":"Unknown","startTime":395.819,"endTime":399.989,"body":"solving process. Near the end of"},{"speaker":"Unknown","startTime":399.989,"endTime":403.859,"body":"my career, I had the privilege"},{"speaker":"Unknown","startTime":399.989,"endTime":403.859,"body":"of overseeing the contract and"},{"speaker":"Unknown","startTime":403.859,"endTime":407.909,"body":"funding of the Army's external"},{"speaker":"Unknown","startTime":403.859,"endTime":407.909,"body":"strategic research organization."},{"speaker":"Unknown","startTime":408.329,"endTime":411.749,"body":"They were given complex problems"},{"speaker":"Unknown","startTime":408.329,"endTime":411.749,"body":"that the army was interested in"},{"speaker":"Unknown","startTime":411.749,"endTime":415.289,"body":"solving that would need to be"},{"speaker":"Unknown","startTime":411.749,"endTime":415.289,"body":"addressed in terms of years into"},{"speaker":"Unknown","startTime":415.289,"endTime":420.029,"body":"the future, particularly by"},{"speaker":"Unknown","startTime":415.289,"endTime":420.029,"body":"external analysts. The studies"},{"speaker":"Unknown","startTime":420.029,"endTime":424.799,"body":"were mostly taught driven issues"},{"speaker":"Unknown","startTime":420.029,"endTime":424.799,"body":"regarding policy, strategy, and"},{"speaker":"Unknown","startTime":424.799,"endTime":428.399,"body":"future capability. This also"},{"speaker":"Unknown","startTime":424.799,"endTime":428.399,"body":"opened my eyes to leaders"},{"speaker":"Unknown","startTime":428.459,"endTime":432.089,"body":"needing to think about the"},{"speaker":"Unknown","startTime":428.459,"endTime":432.089,"body":"future, and exercising a variety"},{"speaker":"Unknown","startTime":432.089,"endTime":436.079,"body":"of resources to solve important"},{"speaker":"Unknown","startTime":432.089,"endTime":436.079,"body":"issues for the organization to"},{"speaker":"Unknown","startTime":436.079,"endTime":439.349,"body":"be successful in the future. Now"},{"speaker":"Unknown","startTime":436.079,"endTime":439.349,"body":"let's talk about problem"},{"speaker":"Unknown","startTime":439.349,"endTime":445.109,"body":"solving. Number one, developing"},{"speaker":"Unknown","startTime":439.349,"endTime":445.109,"body":"a problem solving skill set. We"},{"speaker":"Unknown","startTime":445.109,"endTime":448.709,"body":"don't emphasize problem solving"},{"speaker":"Unknown","startTime":445.109,"endTime":448.709,"body":"skills enough, we are solving"},{"speaker":"Unknown","startTime":448.709,"endTime":452.069,"body":"problems, but we need to do it"},{"speaker":"Unknown","startTime":448.709,"endTime":452.069,"body":"better. We need to train and"},{"speaker":"Unknown","startTime":452.069,"endTime":455.729,"body":"coach how to solve problems, and"},{"speaker":"Unknown","startTime":452.069,"endTime":455.729,"body":"also look for candidates who"},{"speaker":"Unknown","startTime":455.729,"endTime":459.479,"body":"already have a track record of"},{"speaker":"Unknown","startTime":455.729,"endTime":459.479,"body":"problem solving. I want to"},{"speaker":"Unknown","startTime":459.479,"endTime":462.599,"body":"encourage finance and accounting"},{"speaker":"Unknown","startTime":459.479,"endTime":462.599,"body":"professionals to continually"},{"speaker":"Unknown","startTime":462.599,"endTime":465.479,"body":"developed a problem solving"},{"speaker":"Unknown","startTime":462.599,"endTime":465.479,"body":"skills by adding training to the"},{"speaker":"Unknown","startTime":465.479,"endTime":469.469,"body":"individual development plan. If"},{"speaker":"Unknown","startTime":465.479,"endTime":469.469,"body":"you can solve problems, you will"},{"speaker":"Unknown","startTime":469.469,"endTime":473.909,"body":"find career opportunities."},{"speaker":"Unknown","startTime":469.469,"endTime":473.909,"body":"Number two, problem solving is a"},{"speaker":"Unknown","startTime":473.909,"endTime":478.079,"body":"process, I recommend using a"},{"speaker":"Unknown","startTime":473.909,"endTime":478.079,"body":"formal problem solving process."},{"speaker":"Unknown","startTime":478.349,"endTime":482.369,"body":"To address challenges. In the"},{"speaker":"Unknown","startTime":478.349,"endTime":482.369,"body":"army we use a standard seven"},{"speaker":"Unknown","startTime":482.369,"endTime":487.109,"body":"step process to solve problems"},{"speaker":"Unknown","startTime":482.369,"endTime":487.109,"body":"briefly, here are the steps the"},{"speaker":"Unknown","startTime":487.109,"endTime":490.859,"body":"first one is to identify the"},{"speaker":"Unknown","startTime":487.109,"endTime":490.859,"body":"problem. This is where we commit"},{"speaker":"Unknown","startTime":490.859,"endTime":495.239,"body":"to determining real root causes."},{"speaker":"Unknown","startTime":490.859,"endTime":495.239,"body":"Next is that you list out the"},{"speaker":"Unknown","startTime":495.239,"endTime":498.749,"body":"facts and assumptions, list out"},{"speaker":"Unknown","startTime":495.239,"endTime":498.749,"body":"any relevant information which"},{"speaker":"Unknown","startTime":498.749,"endTime":501.899,"body":"will help to highlight key"},{"speaker":"Unknown","startTime":498.749,"endTime":501.899,"body":"information, especially what we"},{"speaker":"Unknown","startTime":501.899,"endTime":504.839,"body":"think might be affecting the"},{"speaker":"Unknown","startTime":501.899,"endTime":504.839,"body":"problem and in how we may solve"},{"speaker":"Unknown","startTime":504.839,"endTime":508.679,"body":"it. Next is that we develop"},{"speaker":"Unknown","startTime":504.839,"endTime":508.679,"body":"criteria, what is the criteria"},{"speaker":"Unknown","startTime":508.679,"endTime":512.069,"body":"to be used to determine the"},{"speaker":"Unknown","startTime":508.679,"endTime":512.069,"body":"final decision? Then we move on"},{"speaker":"Unknown","startTime":512.069,"endTime":515.519,"body":"to generating options what are"},{"speaker":"Unknown","startTime":512.069,"endTime":515.519,"body":"the courses of action you can"},{"speaker":"Unknown","startTime":515.519,"endTime":519.839,"body":"take to solve this problem?"},{"speaker":"Unknown","startTime":515.519,"endTime":519.839,"body":"Next, we analyze the options by"},{"speaker":"Unknown","startTime":519.839,"endTime":523.649,"body":"using the weighted criteria we"},{"speaker":"Unknown","startTime":519.839,"endTime":523.649,"body":"determined a few steps ago, you"},{"speaker":"Unknown","startTime":523.649,"endTime":527.609,"body":"can numerate which criteria is"},{"speaker":"Unknown","startTime":523.649,"endTime":527.609,"body":"more important, then we make a"},{"speaker":"Unknown","startTime":527.609,"endTime":530.849,"body":"decision. After analyzing the"},{"speaker":"Unknown","startTime":527.609,"endTime":530.849,"body":"options, you must make a"},{"speaker":"Unknown","startTime":530.849,"endTime":534.629,"body":"decision. Finally, you analyze"},{"speaker":"Unknown","startTime":530.849,"endTime":534.629,"body":"the decision. The process does"},{"speaker":"Unknown","startTime":534.629,"endTime":537.989,"body":"not end after the decision."},{"speaker":"Unknown","startTime":534.629,"endTime":537.989,"body":"Continue to check the data to"},{"speaker":"Unknown","startTime":537.989,"endTime":541.109,"body":"analyze whether the right"},{"speaker":"Unknown","startTime":537.989,"endTime":541.109,"body":"decision was made. And if a"},{"speaker":"Unknown","startTime":541.109,"endTime":544.559,"body":"course correction is needed."},{"speaker":"Unknown","startTime":541.109,"endTime":544.559,"body":"Identifying the problem is the"},{"speaker":"Unknown","startTime":544.559,"endTime":548.069,"body":"hardest step because often you"},{"speaker":"Unknown","startTime":544.559,"endTime":548.069,"body":"don't know you have a problem."},{"speaker":"Unknown","startTime":548.369,"endTime":551.729,"body":"You don't know what the real"},{"speaker":"Unknown","startTime":548.369,"endTime":551.729,"body":"problem is, you go chasing the"},{"speaker":"Unknown","startTime":551.729,"endTime":555.749,"body":"wrong problem or the wrong cause"},{"speaker":"Unknown","startTime":551.729,"endTime":555.749,"body":"or start to blame. I know that"},{"speaker":"Unknown","startTime":555.749,"endTime":558.869,"body":"our more qualified financial"},{"speaker":"Unknown","startTime":555.749,"endTime":558.869,"body":"analysts and accountants are"},{"speaker":"Unknown","startTime":558.869,"endTime":562.649,"body":"trying to solve problems, but"},{"speaker":"Unknown","startTime":558.869,"endTime":562.649,"body":"may not use a formal process,"},{"speaker":"Unknown","startTime":562.679,"endTime":566.879,"body":"which is why this topic is so"},{"speaker":"Unknown","startTime":562.679,"endTime":566.879,"body":"important. Number three, sound"},{"speaker":"Unknown","startTime":566.879,"endTime":570.839,"body":"problem solving leads to better"},{"speaker":"Unknown","startTime":566.879,"endTime":570.839,"body":"decision making. How you solve"},{"speaker":"Unknown","startTime":570.839,"endTime":573.389,"body":"problems will determine if you"},{"speaker":"Unknown","startTime":570.839,"endTime":573.389,"body":"are able to make better"},{"speaker":"Unknown","startTime":573.389,"endTime":577.649,"body":"decisions, better decisions will"},{"speaker":"Unknown","startTime":573.389,"endTime":577.649,"body":"lead to better outcomes. Let's"},{"speaker":"Unknown","startTime":577.649,"endTime":581.039,"body":"develop and build a team of"},{"speaker":"Unknown","startTime":577.649,"endTime":581.039,"body":"problem solvers who can break"},{"speaker":"Unknown","startTime":581.039,"endTime":585.089,"body":"down and identify true root"},{"speaker":"Unknown","startTime":581.039,"endTime":585.089,"body":"causes? Who can look at problems"},{"speaker":"Unknown","startTime":585.119,"endTime":588.719,"body":"while also addressing any"},{"speaker":"Unknown","startTime":585.119,"endTime":588.719,"body":"possible bias? Who can derive"},{"speaker":"Unknown","startTime":588.719,"endTime":592.349,"body":"viable options, which will then"},{"speaker":"Unknown","startTime":588.719,"endTime":592.349,"body":"lead to a better decision?"},{"speaker":"Unknown","startTime":592.589,"endTime":596.399,"body":"Number four, be a leader in all"},{"speaker":"Unknown","startTime":592.589,"endTime":596.399,"body":"problem solving and decision"},{"speaker":"Unknown","startTime":596.399,"endTime":599.999,"body":"making. Leaders set the pace"},{"speaker":"Unknown","startTime":596.399,"endTime":599.999,"body":"culture and vision of the"},{"speaker":"Unknown","startTime":600.0,"endTime":603.54,"body":"organization. Leaders also must"},{"speaker":"Unknown","startTime":600.0,"endTime":603.54,"body":"have the conscience and"},{"speaker":"Unknown","startTime":603.54,"endTime":607.68,"body":"fortitude to solve real"},{"speaker":"Unknown","startTime":603.54,"endTime":607.68,"body":"problems, to focus resources to"},{"speaker":"Unknown","startTime":607.68,"endTime":612.06,"body":"address issues that require a"},{"speaker":"Unknown","startTime":607.68,"endTime":612.06,"body":"harder look. And I always desire"},{"speaker":"Unknown","startTime":612.06,"endTime":615.27,"body":"for a finance and accounting"},{"speaker":"Unknown","startTime":612.06,"endTime":615.27,"body":"professionals. To be leaders in"},{"speaker":"Unknown","startTime":615.27,"endTime":619.44,"body":"any problem solving exercise, we"},{"speaker":"Unknown","startTime":615.27,"endTime":619.44,"body":"need to go beyond the data so"},{"speaker":"Unknown","startTime":619.44,"endTime":623.01,"body":"that we can provide more"},{"speaker":"Unknown","startTime":619.44,"endTime":623.01,"body":"detailed options. I like options"},{"speaker":"Unknown","startTime":623.01,"endTime":626.49,"body":"with data, and also options that"},{"speaker":"Unknown","startTime":623.01,"endTime":626.49,"body":"use weighted criteria to"},{"speaker":"Unknown","startTime":626.49,"endTime":630.09,"body":"evaluate. This is especially"},{"speaker":"Unknown","startTime":626.49,"endTime":630.09,"body":"true if we are evaluating"},{"speaker":"Unknown","startTime":630.09,"endTime":633.48,"body":"different capital investment"},{"speaker":"Unknown","startTime":630.09,"endTime":633.48,"body":"projects to take on. If we can"},{"speaker":"Unknown","startTime":633.48,"endTime":636.48,"body":"only take on one investment in"},{"speaker":"Unknown","startTime":633.48,"endTime":636.48,"body":"the coming year, then we would"},{"speaker":"Unknown","startTime":636.48,"endTime":639.78,"body":"need to highlight projected"},{"speaker":"Unknown","startTime":636.48,"endTime":639.78,"body":"rates of return lifecycle"},{"speaker":"Unknown","startTime":639.78,"endTime":643.71,"body":"equipment expenses, timelines"},{"speaker":"Unknown","startTime":639.78,"endTime":643.71,"body":"for execution, along with any"},{"speaker":"Unknown","startTime":643.71,"endTime":647.37,"body":"other key metrics that can be"},{"speaker":"Unknown","startTime":643.71,"endTime":647.37,"body":"evaluated to give senior leaders"},{"speaker":"Unknown","startTime":647.37,"endTime":651.63,"body":"a more formal way to decide on"},{"speaker":"Unknown","startTime":647.37,"endTime":651.63,"body":"which project to undertake. I"},{"speaker":"Unknown","startTime":651.63,"endTime":655.53,"body":"know most companies are using a"},{"speaker":"Unknown","startTime":651.63,"endTime":655.53,"body":"formal process at the top level"},{"speaker":"Unknown","startTime":655.53,"endTime":657.99,"body":"to make decisions. But our"},{"speaker":"Unknown","startTime":655.53,"endTime":657.99,"body":"finance and accounting"},{"speaker":"Unknown","startTime":657.99,"endTime":661.5,"body":"professionals can use the same"},{"speaker":"Unknown","startTime":657.99,"endTime":661.5,"body":"processes to solve everyday"},{"speaker":"Unknown","startTime":661.5,"endTime":665.49,"body":"problems within their metric"},{"speaker":"Unknown","startTime":661.5,"endTime":665.49,"body":"portfolio. It will help to"},{"speaker":"Unknown","startTime":665.49,"endTime":668.88,"body":"deliver better analysis to the"},{"speaker":"Unknown","startTime":665.49,"endTime":668.88,"body":"senior leaders we support"},{"speaker":"Unknown","startTime":668.88,"endTime":672.06,"body":"throughout the company. Now"},{"speaker":"Unknown","startTime":668.88,"endTime":672.06,"body":"here's the challenge. Let's get"},{"speaker":"Unknown","startTime":672.06,"endTime":675.6,"body":"creative in our approach to"},{"speaker":"Unknown","startTime":672.06,"endTime":675.6,"body":"problem solving and be open to"},{"speaker":"Unknown","startTime":675.6,"endTime":679.41,"body":"finding the relevant facts,"},{"speaker":"Unknown","startTime":675.6,"endTime":679.41,"body":"assumptions, and other details"},{"speaker":"Unknown","startTime":679.41,"endTime":683.34,"body":"from maybe unusual sources,"},{"speaker":"Unknown","startTime":679.41,"endTime":683.34,"body":"which can maybe help us find the"},{"speaker":"Unknown","startTime":683.34,"endTime":686.67,"body":"root causes to the problems we"},{"speaker":"Unknown","startTime":683.34,"endTime":686.67,"body":"are trying to solve. You may"},{"speaker":"Unknown","startTime":686.67,"endTime":690.42,"body":"find information critical from"},{"speaker":"Unknown","startTime":686.67,"endTime":690.42,"body":"people and data sources that are"},{"speaker":"Unknown","startTime":690.42,"endTime":694.02,"body":"often overlooked. Identifying"},{"speaker":"Unknown","startTime":690.42,"endTime":694.02,"body":"the problem is the most"},{"speaker":"Unknown","startTime":694.02,"endTime":698.76,"body":"difficult step in the process."},{"speaker":"Unknown","startTime":694.02,"endTime":698.76,"body":"Now for action today, how are"},{"speaker":"Unknown","startTime":698.76,"endTime":702.15,"body":"you problem solving in your"},{"speaker":"Unknown","startTime":698.76,"endTime":702.15,"body":"organization today? Are you"},{"speaker":"Unknown","startTime":702.15,"endTime":706.02,"body":"using a more formal process and"},{"speaker":"Unknown","startTime":702.15,"endTime":706.02,"body":"your everyday problem solving? I"},{"speaker":"Unknown","startTime":706.02,"endTime":709.29,"body":"would believe this to be true at"},{"speaker":"Unknown","startTime":706.02,"endTime":709.29,"body":"your strategic initiatives team."},{"speaker":"Unknown","startTime":709.5,"endTime":713.13,"body":"But what about everybody else?"},{"speaker":"Unknown","startTime":709.5,"endTime":713.13,"body":"How are they solving problems?"},{"speaker":"Unknown","startTime":713.4,"endTime":717.33,"body":"Will a formal problem solving"},{"speaker":"Unknown","startTime":713.4,"endTime":717.33,"body":"process help teams across the"},{"speaker":"Unknown","startTime":717.33,"endTime":721.8,"body":"company? I believe it can. Don't"},{"speaker":"Unknown","startTime":717.33,"endTime":721.8,"body":"forget to grab my free guide for"},{"speaker":"Unknown","startTime":721.8,"endTime":725.16,"body":"you called the leadership growth"},{"speaker":"Unknown","startTime":721.8,"endTime":725.16,"body":"blueprint for finance and"},{"speaker":"Unknown","startTime":725.16,"endTime":727.95,"body":"accounting managers. Are you a"},{"speaker":"Unknown","startTime":725.16,"endTime":727.95,"body":"finance or accounting"},{"speaker":"Unknown","startTime":727.95,"endTime":731.55,"body":"professional who is also leading"},{"speaker":"Unknown","startTime":727.95,"endTime":731.55,"body":"people that have questions about"},{"speaker":"Unknown","startTime":731.55,"endTime":735.0,"body":"how to lead more effectively. I"},{"speaker":"Unknown","startTime":731.55,"endTime":735.0,"body":"know you are expected to be the"},{"speaker":"Unknown","startTime":735.0,"endTime":738.51,"body":"technical expert in our field."},{"speaker":"Unknown","startTime":735.0,"endTime":738.51,"body":"Learning leadership can set you"},{"speaker":"Unknown","startTime":738.51,"endTime":741.69,"body":"apart from your peers, which can"},{"speaker":"Unknown","startTime":738.51,"endTime":741.69,"body":"then lead you to more"},{"speaker":"Unknown","startTime":741.69,"endTime":745.44,"body":"opportunities. In the free guide"},{"speaker":"Unknown","startTime":741.69,"endTime":745.44,"body":"I talk about three leadership"},{"speaker":"Unknown","startTime":745.47,"endTime":750.09,"body":"areas communication, team"},{"speaker":"Unknown","startTime":745.47,"endTime":750.09,"body":"development, and empowerment."},{"speaker":"Unknown","startTime":750.42,"endTime":753.06,"body":"Plus a few recommendations"},{"speaker":"Unknown","startTime":750.42,"endTime":753.06,"body":"around challenges with the"},{"speaker":"Unknown","startTime":753.06,"endTime":756.78,"body":"financial systems you are using"},{"speaker":"Unknown","startTime":753.06,"endTime":756.78,"body":"to complete your work. The link"},{"speaker":"Unknown","startTime":756.78,"endTime":760.77,"body":"to this free guide is in the"},{"speaker":"Unknown","startTime":756.78,"endTime":760.77,"body":"post or the bio, you can also go"},{"speaker":"Unknown","startTime":760.77,"endTime":764.46,"body":"to Finance leader academy.com."},{"speaker":"Unknown","startTime":760.77,"endTime":764.46,"body":"To download it. Please use the"},{"speaker":"Unknown","startTime":764.46,"endTime":768.24,"body":"guide to help you with a few"},{"speaker":"Unknown","startTime":764.46,"endTime":768.24,"body":"leadership wins today. Thank"},{"speaker":"Unknown","startTime":768.24,"endTime":772.23,"body":"you. Today I introduced problem"},{"speaker":"Unknown","startTime":768.24,"endTime":772.23,"body":"solving and I highlighted the"},{"speaker":"Unknown","startTime":772.23,"endTime":775.92,"body":"following points. Number one"},{"speaker":"Unknown","startTime":772.23,"endTime":775.92,"body":"developing a problem solving"},{"speaker":"Unknown","startTime":775.92,"endTime":780.99,"body":"skill set. Number two, problem"},{"speaker":"Unknown","startTime":775.92,"endTime":780.99,"body":"solving is a process. Number"},{"speaker":"Unknown","startTime":780.99,"endTime":784.68,"body":"three, sound problem solving"},{"speaker":"Unknown","startTime":780.99,"endTime":784.68,"body":"leads to better decision making."},{"speaker":"Unknown","startTime":785.01,"endTime":788.55,"body":"And four be a leader in all"},{"speaker":"Unknown","startTime":785.01,"endTime":788.55,"body":"problem solving and decision"},{"speaker":"Unknown","startTime":788.55,"endTime":792.69,"body":"making. I believe in a formal"},{"speaker":"Unknown","startTime":788.55,"endTime":792.69,"body":"problem solving process. So you"},{"speaker":"Unknown","startTime":792.69,"endTime":795.84,"body":"gather your thoughts and"},{"speaker":"Unknown","startTime":792.69,"endTime":795.84,"body":"relevant information and create"},{"speaker":"Unknown","startTime":795.84,"endTime":799.53,"body":"the best solution to present to"},{"speaker":"Unknown","startTime":795.84,"endTime":799.53,"body":"department heads, metric owners"},{"speaker":"Unknown","startTime":799.56,"endTime":802.62,"body":"and senior leaders. In this"},{"speaker":"Unknown","startTime":799.56,"endTime":802.62,"body":"episode I gave a brief"},{"speaker":"Unknown","startTime":802.62,"endTime":805.68,"body":"introduction to problem solving."},{"speaker":"Unknown","startTime":802.62,"endTime":805.68,"body":"I can't wait to share more"},{"speaker":"Unknown","startTime":805.68,"endTime":809.55,"body":"details and future episodes. And"},{"speaker":"Unknown","startTime":805.68,"endTime":809.55,"body":"I want to encourage all of you"},{"speaker":"Unknown","startTime":809.73,"endTime":813.06,"body":"to improve your own problem"},{"speaker":"Unknown","startTime":809.73,"endTime":813.06,"body":"solving skills. It will be the"},{"speaker":"Unknown","startTime":813.06,"endTime":816.54,"body":"problem solvers, the leaders who"},{"speaker":"Unknown","startTime":813.06,"endTime":816.54,"body":"will get to promotions and"},{"speaker":"Unknown","startTime":816.54,"endTime":820.17,"body":"advanced career opportunities."},{"speaker":"Unknown","startTime":816.54,"endTime":820.17,"body":"If you can solve organizational"},{"speaker":"Unknown","startTime":820.17,"endTime":824.31,"body":"problems, you will never lack of"},{"speaker":"Unknown","startTime":820.17,"endTime":824.31,"body":"a career opportunity. I believe"},{"speaker":"Unknown","startTime":824.31,"endTime":827.76,"body":"that next week I will be talking"},{"speaker":"Unknown","startTime":824.31,"endTime":827.76,"body":"about leadership in the budget"},{"speaker":"Unknown","startTime":827.76,"endTime":831.36,"body":"process. I hope you enjoyed the"},{"speaker":"Unknown","startTime":827.76,"endTime":831.36,"body":"finance leader podcast I am"},{"speaker":"Unknown","startTime":831.36,"endTime":834.78,"body":"dedicated to helping you grow"},{"speaker":"Unknown","startTime":831.36,"endTime":834.78,"body":"your leadership skills to change"},{"speaker":"Unknown","startTime":834.78,"endTime":838.08,"body":"your mindset and to clarify your"},{"speaker":"Unknown","startTime":834.78,"endTime":838.08,"body":"goals so you advance your"},{"speaker":"Unknown","startTime":838.08,"endTime":841.32,"body":"career. You can find this"},{"speaker":"Unknown","startTime":838.08,"endTime":841.32,"body":"episode wherever you listen to"},{"speaker":"Unknown","startTime":841.32,"endTime":845.1,"body":"podcasts. If this episode helped"},{"speaker":"Unknown","startTime":841.32,"endTime":845.1,"body":"you today, please share and"},{"speaker":"Unknown","startTime":845.1,"endTime":848.52,"body":"leave a quick review so that"},{"speaker":"Unknown","startTime":845.1,"endTime":848.52,"body":"others may find the podcast."},{"speaker":"Unknown","startTime":848.82,"endTime":852.21,"body":"Until next time, you can check"},{"speaker":"Unknown","startTime":848.82,"endTime":852.21,"body":"out more resources at finance"},{"speaker":"Unknown","startTime":852.21,"endTime":855.87,"body":"leader academy.com and sign up"},{"speaker":"Unknown","startTime":852.21,"endTime":855.87,"body":"for my weekly updates so you"},{"speaker":"Unknown","startTime":855.87,"endTime":859.26,"body":"don't miss an episode of the"},{"speaker":"Unknown","startTime":855.87,"endTime":859.26,"body":"podcast. And now go lead your"},{"speaker":"Unknown","startTime":859.26,"endTime":862.08,"body":"team. And I'll see you next"},{"speaker":"Unknown","startTime":859.26,"endTime":862.08,"body":"time. Thank you"}]}