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5 Keys to Dealing with Challenges in Business

In business there are always challenges. Success in management is dependent on effectively dealing with them. Challenges can come from many sources and vary in degree and substance but the keys to handling them effectively can apply to any situation. It’s important to remain objective and accept responsibility for dealing with the situation. Also, it’s necessary to be flexible in working toward a resolution and accept the outcome when the issue is resolved. Following are keys to dealing with challenges in business:

  1. Recognize Circumstances for What They Are – When faced with a challenge people respond in different ways. In business it is important stay focused and understand the situation. A challenge can be recognized when there’s time to think it through and decide how it should be handled. However, sometimes things must be dealt with on the spot. In either event a challenge must be dealt with logically and not emotionally.
  2. Accept Responsibility for Handling the Challenge – Don’t waste time assigning blame for the situation. Regardless of the cause attention should be directed at handling the issue. If challenging circumstances are brought about by poor performance corrective action should be enacted after the fact. If the challenge was brought about by external circumstances blaming someone or something will contribute nothing of value.
  3. Break the Situation Down – If a challenge is complex it may be easier to handle by splitting it into smaller pieces. If investigation shows that there are more than one facet to the circumstances develop a list of the components, determine how to address them one at a time and then take action.
  4. Follow the Path to Resolution – When faced with a challenge an effective reaction is to determine what the desired outcome should be and deal with the situation appropriately. Challenges are dynamic and circumstances will evolve as action is taken. The path will change as things occur and success is predicated on the willingness to adapt.
  5. Be Prepared to Accept the Outcome – Don’t become so attached to the result you desire that your judgment is clouded. When negotiating a challenge it may be necessary accept an outcome other than what you want. So don’t completely base the measure of success on a pre-defined result.

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