1.2 Examples of Problem Solving

Overview of Problem-Solving Process

  • The Problem-Solving Process is essential in decision-making across different contexts.

  • Developed by experts like Dr. Asish Satpathy at the ASU W.P. Carey School of Business.

Learning Goals

  1. Examples of Problem-Solving Process

  2. The Five Why Framework

  3. Weighted Analysis

  4. The Seven Steps of Problem Solving

Case Study: Printer Breakdown

  • The printer malfunction serves as a practical example to understand the problem-solving methodology.

  • The initial question posed is: Why did the printer break?

Five Why Analysis

  • Why did the printer break?

    • Because the printer was not serviced since last year.

  • Why didn’t the printer get serviced?

    • The tech support forgot to service it.

  • Why did tech support forget?

    • They lacked sufficient resources.

  • Why didn’t they have enough resources?

    • Due to a budget cut.

  • Why was there a budget cut?

    • Because the department manager lacked experience.

Personal Decision-Making

Choosing a Career as an Analyst

  • When contemplating the question Do I want to be an analyst?, utilize the Five Whys method to unearth underlying motivations.

  • Chain of Whys:

    • I want to be an analyst - why?

    • Because I have the necessary education - why?

    • I excelled academically in relevant subjects - why?

    • I have an affinity for math and numbers - why?

    • It is a skill that comes naturally to me.

  • This method can lead to deeper insights but may also highlight the need for alternatives.

Important Considerations

  • Factors influencing the decision to become an analyst include:

    • Low Opportunity Cost (why?)

    • Speed of Becoming an Analyst (why?)

    • Necessary Education (already obtained)

    • Alignment with Career Goals

    • Expected Salary

    • Personal Satisfaction

  • Each of these factors should also be questioned further to derive more value from the analysis.

Weighted Analysis

  • After evaluating your motivations, weight each consideration based on its importance.

  • Consider alternatives by assigning values on a scale of 1-100:

    • Opportunity cost, Time needed, Education, Fit with goals, Salary, and Satisfaction.

  • Example scenario: Said factors are evaluated against being an analyst versus others, ultimately concluding on pursuing an analyst career based on comparative scores.

PrOACT Model

Framework Overview

  • PrOACT stands for Problem, Objectives, Alternatives, Consequences, which guides in making informed decisions.

  • This model emphasizes defining the problem clearly, setting smart objectives, and analyzing alternatives and their consequences.

Seven Steps of Problem Solving

  • Problem solving begins with the clear definition and analysis of the problem, moving through structured steps to identify solutions effectively.

Test Your Understanding

Review Questions

  1. David's repeated questioning in problem analysis ultimately produces what: a table, an equation, a tree or chain, or a matrix?

  2. What is not one of the seven steps in bulletproof problem-solving: disaggregate, analyze, weight, or communicate?

Key Takeaways

  • Effective problem solving involves systematic analysis, questioning methods, and frameworks like PrOACT to enable better decision-making.

  • The next step in learning is familiarizing oneself with the Bulletproof Framework of Problem Solving.