Solving Economic Problems

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Hence, the benefit of problem-solving and solutions economy is that it would break the bureaucratic boundaries between the three major productivity sectors which means bringing in direct trillions of dollars in social benefits and commercial value, besides tremendous goodwill value.

Design innovative new solutions could be the norm of future economies, where solutions would integrate low-cost health care with fighting poverty-related diseases.

With problem-solving and solutions economy we could help to open up services that meet the citizens’ choice, thus shifting the focus from results to the outcome.

This help to thrive the socio-economic development efforts of any community.

We live in a creative world where many of us want to bring solutions to common world problems voluntarily.

Therefore, the most resilient economy is the economy that would make such problem-solving economy grows to fill the spaces within this economy.However, the government’s need to be willing to have more accessibility to important data for its partners that would differentiate its outcomes.The more government provide and collaborate on knowledge sharing the more we would witness a different solution economy that would also create a cultural transformation. Problem-solving and solution economy could be applied to any organisation, be it government, NGO’s or private sector.Thus, it is an economy where we could expect more solutions that would create markets for social goods and trade solutions instead of dollars to fill what citizens need.In recent years, an entire economy of societal problem solvers has emerged to tackle old problems in new ways.The problem vectors help to tackle the problem effectively and ensure it has both economic and social impact. Solution economy target to accelerate the growing economies and help the problem solvers to support the government in achieving faster delivery of outcome-based solutions.These outcome-driven solutions are critical as governments are shrinking in size and NGO’s and Non-profit organisation are doubling in many countries. Nyarko (2005) seen that knowledge can be captured through problem-solving.It has flourished, supporting the delivery of more than five million meals to the disadvantaged.They also launched a café to train young baristas, combating the city’s high rates of youth unemployment and homelessness.The most resilient economy is the economy that would open the doors for creativity and would encourage the local small and medium businesses to embrace these solutions attempts.Solution economy, is a term developed by Eggers and Macmillan (2013 a) to solve the social problems from a multidisciplinary perspective which brings together different background practitioners from businesses, governments, philanthropy and social enterprises to tackle holistically a socio-economic challenge or problem that would serve many stakeholders or beneficiaries.

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