This Statement on Management Accounting (SMA) demonstrates how creative problem solving (CPS) skills can be applied to management accountants’ most pressing business challenges. CPS offers a four-step process that leads to unique and novel solutions and enables management accountants to optimize creative thinking.
The CPS methodology provides an efficient and effective framework for companies to tackle a single challenge by taking teams through four problem-solving steps:
- Clarifying a challenge
- Ideating solutions
- Developing a proposed solution
- Planning for implementation