Prue-s Reengjueeng at IBM Credit (1} IBM Credit finances the computers, software and services sold by IBM Corporation. (2} The company is considered one of the world's most protable publicly traded companies. {3} Processing a nance application usually took between six days and two weeks. (4) The application wound its way from the [Edit department to the pricing department, to an administrator who wrote out a formal quote letter. (5} When IBM Credit realized that processing an application actually took only about Quitminutes, and the rest of the normal processing time was spent with the application sitting on a pe on a specialist's desk waiting to be looked at. {6} They decided to reeugineer the entire process. {F} Here's what IBM Credit did: The four specialists who previously processed the application were replaced by a generalist called the deal structurer, who processed the application from start to end using templates on a new computer system which provided all the data and tools each specialist commonly med. [8) The results of the reengineering program were: Turnaround time was reduced from a typical 3' days to 4 hours without any increase in staff numbers IBM Credit has been able to achieve a hundred fold improvement in productivity. (9) It can now handle 100 times the number of credit applications that were handled before reengineering was undertaken. Source: (Adapted from Grant 2038} a) The starting situation presented in sentence number 3 b) The problem presented in sentence number4 c) The underlying cause of the problem is presented in sentence number 5 d) Solution has been proposed in sentence number