The concept of 'problem' is central in the business and management studies literature. Yet, despite its centrality and its widespread use, it is still in need of elucidation. This paper is an attempt in that direction. First some landmarks to circumscribe the concept of 'problem' are proposed. Second, within the scope of these landmarks, three views of the concept of 'problem', rooted in three major epistemological trends, are presented and contrasted. These views often differ with respect to the language used and to the derived strategies for action. Third, the clarifications and comparisons provided are utilized to illus trate some main sources of ambiguity with respect to problems. Finally, avenues for research suggesting potential for renewing the investigation of old issues concerning problems are explored.