SHRI RAMSWAROOP MEMORIAL UNIVERSITY

LUCKNOW,. DEVA ROAD, UTTAR PRADESH

AROOPAEMORLA,

SUBJECT: FRAMING OF BUSINESS PROBLEM

SESSION (2024-2025)

SUBMITTED TO: SUBMITED BY:

MS.ARADHANA BHATT DEVESH MISHRA
202310702180081
 Introduction to Business Problems
Business problems refer to challenges or obstacles that hinder an organization's ability to achieve itsgoals,
objectives, or operations efficiently. These problems can arise from various internal or external factors
Characteristics of Business Problems:
1. Unclear goals or objectives
2. Inefficient processes or systems
3. Insufficient resources (financial, human, or technological)
4, Poor communication or coordination
5. External factors beyond control
6. Impact on profitability, growth, or sustainability
7. Requires analysis, decision-making, and solution implementation
 Tools for analysing Business Problems
SWOT Analysis
SWOT analysis is a strategic planning technique used to identify and evaluate the Strengths, Weaknesses,
Opportunities, and Threats of an organization, project, or individual.
Strengths:
O Internal factors that are favorable to the organization
J Characteristics, skills, or resources that give the organization
Weaknesses:
J Internal factors that are unfavorable to the orga nization

Characteristics, skills, or resources that put the organization at a disadvantage

Opportunities:
External factors that the organization can leverage to its advantages
J Trends, changes, or events that can benefit the
organization
Threats:
Exter nal factors that could harm the organization
Trends, changes, or events that can negatively impact the organization
 PESTEL Analysis:
APESTEL analysis is atool that helps businesses understand how external factors impact their operations. PESTEL
is an acronym for the six categories of factors it assesses:
Political: Government policies, leadership, foreign trade, tax policy, and regulation
Economic: Economic growth, inflation, interest rates, job gowth, labor costs, and disposable income
Social: Demographics, consumer attitudes, population growth, socio-cultural changes, and living standards
Technological: New ways to produce, distribute, and communicate goods and services
Legal: Health and safety, equal opportunities, advertising standards, consumer rights, and product labeling
Environmental: Environmental factors

Root Cause Analysis:

Root cause analysis (RCA) is the process of discovering the root causes of problems in order to identify appropriate
solutions to prevent it from recurring. RCA assumes that it is much more effective to sy stematically prevent and solve
for underlying issues rather than just treating ad hoc symptoms and putting out fires. RCA is afundamental problem
solving tool in many industries, including healthcare, manufacturing, and facilities maintenance.
 KPMG
KPMG is a global professional services firm that provides audit, tax, and advisory services. The company's full
name is Klynveld Peat Marwick Goerdeler. KPMG was founded in 1894 and is publicly traded.
Services

KPMG offers a range of services, including accounting, auditing, tax, legal, consulting, and risk management.
Global reach

O KPMG has more than 273,000 partners and employees in member firms across 143 countries and territories.
India presence
KPMG has been operating in India since 1965 and has offices in 14 cities. KPMG India is one ofthe leading
accounting firms in india, along with PricewaterhouseCoopers (PwC), Deloitte, and Ernst &Young (EY)
Headquarters
O KPMG is headquartered in London, England. KPMG India has offices in over 14 cities in India, including:
Ahmedabad, Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Jaipur, Kochi, Kolkata, and Mumbai.
 Business Problem of KPMG
several challenges in talent acquisition and retertion. These
KPMG, like many large professional services firms, faces professionals, andinternal
challenges arise from various external factors, such as increase d competition for skilled
factors, including firm culture and career progression structure
1. Intense Competition for Talent professionals
industries have seen a surge in demand, especially for
Market Demand: The consulting and auditing heightened
cybers ecurity, and sustainability. This has
skilled in areas like data analytics, digital transformation, from sectors ike technology a nd finance.
competition for qualified talent, bothwithin the industry and traditional
sionals now con sider career opportunities outside
Rise of Other Career Paths: Many skilled profes offering competitive salaries, flexible work options, and ore
consulting and auditing. With tech giants and startups
candidates.
innovative cultures, KPMG fac es difficulty attracting these
2. Employee Retention and Burnout
work often requires long hours, tight deadlines, and
High-Pressure Environment: The high-stakes nature of KPMG'shigher turnover rates as employees seek roles with
resulting in
extensive travel. Over time, this canlead to burnout,
better work-life balance.
as during financial year-end audits, can cause spikes in
Workload Fluctuations: Peaks in client demand, such retain talent who might prefer a more consistent
workload.
workload. This sea sonality can make it difficult to
made strides in offering flexible work arrangerments, some
Limited Work-Life Balance Initiatives: While KPMG hasthem from fully benefitingfrom thes e initiatives.
employees still find that the demands of thejob prevent
3. Leadership Development and Career Progression
Perceived Slow Career Advancement: Many employees in consulting firms aspire to reach partner
or leadership roles, but the path to these positions can be lengthy and highly competitive.This
can lead to di.
dissatisfaction and drive employees to seek faster career growth opportunities at other
firms or in different industries.
Leadership Turnover: Given the competitive nature of the field, even senior leaders are often
headhunted by other firms or industries. The turnover of leaders can lead to a lack of mentorship
and continuity for younger professionals, potentially stalling their development.

4. Attraction and Retention of Specialized Talent

Technology and Digital Talent: KPMG is not just competing with other accounting and consulting
firms but also with tech companies for professionals skilled in data science, Al, cybersecurity, and
other digital fields. These professionals often expect a different culture than the traditional
consulting environment.
Diversityworkplace,
inc
and Inclusion Challenges: KPMG has made efforts toward fostering adiverse and
but challenges remain in attracting and retaining underrepresented groups
Ensuring that all employees feel included and valued is critical for both attracting diverse talent
and retaining them long-term.
 Analysis of KPMG's Business Problem
Fishbone Diagram (Ishikawa Analysis)
The Fishbone Diagram is a visual tool that categorizes potential causes of a problem into key factors, helping to
identify where the main issues lie. For KPMG, we can organize potential causes of talent acquisition and retention
problems into categories like Work Environment, Processes, People, Management, Technology, and Culture.
Steps to Conduct the Analysis:
1. Define the Problem Statement: The main issue is "High Attrition and Talent Acquisition
Challenges."
2. Identify Key Categories: For KPMG's context, relevant categories may include:
OWork Environment (e.g., workload, work- life balance, flexibility)
O Compensation and Benefits (e.g., salary competitiveness, non-monetary benefits)
Q Career Development (e.g. , promotion opport unit ies, leadership pathways)
u Management and Leadership (e.g., management style, mentorship)
0 Company Culture and Values (e.g., inclusivity, work culture, employee engagement)
u Processes and Tools (e.g., digital resources, remote work infrastructure)
3. List Contributing Factors in Each Category: For each category, list specific factors that contribute to the
problem.
O Work Environment: Heavy workloads, frequent travel, burnout, seasonal demands.
Q Compensation
generations.
and Benefits: Pay perceived as lower compared to tech and finance, limited perks for younger
D Career Development: Slow career advancement, lack of fast-track leadership roles, limited lateral movement.
D Management and Leadership: High turnover in leadership, inconsistent mentorship programs, limited feedback
O Company Culture and Values: High-pressure culture, ow work-life balance, diversity and inclusion gaps.
O Processes and Tools: Outdated digital tools, challenges in mainta ining a hybrid work model, lack of collaboration
tech.
4. Analyze for Root Causes: For each category, analyze deeper by asking Why?" and examining why each
factor might be happening. For example:
u Work Environment ’ Heavy Workload ’ High client expectations and complex projects without flexible staffing.
O Compensation and Benefits ’ Limited Perks ’ Budget constraints and traditional benefits structure.
O Career Development ’ Slow Advancement ’ Rigid promotion structure, limited avail ability of leadership roles.
5. Visualize and Prioritize: The Fishbone Diagram helps visually identify which areas have the most factors
contributing to the problem. This enables prioritizing the areas to target first, such as enhancing work-life
balance or improving career development opportunities.
Possible Solutions of KPMG's Talent Retention an Acquisitior
Problem
1. Enhance Compensation and Benefits
Competitive Salary Adjustments: Conduct an in-depth review of compensat ion packages, particularly for
high-demand roles like digital, data analytics, and cybersecurity. Benchmark salaries to those of key
competitors (consulting, tech, and finance sectors) and adjust pay scales to be more competitive, especially for
early- to mid-career roles where turnover may be higher.
Performance-Based Incentives: Introduce performance-based bonuses and equity options for key roles.
This incentivizes long-term commitment and gives employees a sense of ownership, aligning their success with
the firm's growth.

Customized Benefits Packages: Offer flexible benefits, allowing employees to customize packages to f
their individual needs, such as family health coverage, mental health support, work-from-home stipends,or
additional vacation days.
Student Loan Assistance: Younger employees often face student loan debt, so offering student loan
repayment assistance could be a compelling benefit that differentiates KPMG from its competitors
4. Optimize Recruitment and Onboarding Processes
Refined Recruitment Strategy: Streamline the hiring process, ensuring faster time-to-hire for competitive roles.
Adelay in hiring often results in losing candidates to competitors, so improving response times can help capture top
talent.
Targeted University and Diversity Recruitment: Build partnerships with universities to tap into entry-level
talent pipelines. Strengthen diversity hiring efforts by recruiting at historically underrepresented institutions or
specific industry events.
Enhanced Onboarding Experience: Develop a structured onbo arding program that acclimates new hires to
KPMG'S Culture, values, and systems. Effective onboarding reduces the chances of early attrition by helping
employees feel connected from the start.
5. Monitor and Adjust Strategies Continuously
Quarterly Review of Initiatives: Regularly review the success of talent acquisition and retention strategias
through KPIs such as turnover rate, employee satisfaction, and engagement scores.
Adjust Strategies Based on Feedback: Use feedback from employee engagement surveys, exit
and unmet
interviews, and competitor analyses to adjust programs, addressing emerging trends
employee needs.
Benchmark Against Competitors: Continuously benchmark against ot her consulting fims to ensure that KPMG's
offerings remain competitive. Staying aware of changes in market trends and employee expectations is essential for
long-term success.
 Conclusion
Learning about business problems highlights the importance of aligning
organization al strategies with employee and market needs. Employee-centric
approaches, data-driven insights, and flexibility are essential for addressing
challenges like talent acquisition and retention. Emphasizing diversity, a strong
employer brand, and continuous improvement allows companies to stay
competitive. Ultimately, a proactive, adaptable strategy helps organizations
crea te a supportive work enviranment that attracts and retains talent, fostering
long-tem success.