ANALYZING BUSINESS PROBLEMS USING THE PROACT MODEL IN MBA

The Lagos Business School Master of Business Administration (MBA) Program equips Executives with a comprehensive skill set to tackle complex business challenges through the various business case scenarios. As an Executive, the ability to analyze and address business problems effectively is one of the major requirements of the Course and one valuable tool the Executives are expected to leverage on is the PROACT model. The PROACT is a structured approach to problem-solving that offers a systematic approach to resolving business problems. PROACT is broken down in simple terms as follows:

PROBLEM (PR)

The first stage of the PROACT model is to recognize the Problem, this is the cornerstone of problem-solving. In the MBA program, Executives learn to identify and define the problems in each scenario. This entails breaking down problems, figuring out their underlying causes, and assessing how they affect the company. This level emphasizes to executives the value of fully comprehending issues and identifying the underlying cause of difficulties while working on case studies or solving actual business challenges.

OBJECTIVES (O)

Recognizing the problem is just the beginning of the process; the next step is to identify the Options in each scenario or case study. Executives must come up with a variety of possible solutions depending on the situation. During this phase, creativity and brainstorming is important and allows the executive to think about many options that could enhance the company’s operations.

ALTERNATIVES (A)

Once the Problem are recognized, the Executives carries out a thorough analysis to assess the problem. The Executive gains the ability to evaluate the possible impact and viability of each idea and this entails weighing the advantages and disadvantages of each option. To help with decision-making, processes such as cost-benefit analysis and SWOT analysis are incorporated.

CRITERIA(C)

The Criteria is the point at which Executives analyze their options and select the most viable option. In order to make sure the solutions selected are in line with the company’s strategic objectives, a more thorough analysis is conducted in this step. Here we combine strategic thinking driven by data to make decisions, considering the broad effects of every option to the Company before reaching a final decision.

TRADE OFFS(T)

The Trade-offs stage entails a thorough evaluation of the options considering the predetermined criteria. We must decide on the best course of action in this step even though it’s rare to find an ideal solution that satisfies every requirement. When trade-offs are required, the organisation must choose the option that best balances the goals and requirements.

Using the PROACT model has been interesting and educative and has helped me better analyze problems both at work and in my everyday life. It has helped me better analyze problems and has provided me with a way to analyze and solve problems without being emotional.