The Five Steps of the PrOACT Approach to Problem Solving

question 5

Short Answer

The five steps of the PrOACT approach to problem solving are Problem, Objectives, ____________________, Consequences, and Trade-offs.

---

Definitions:

Colluder

An entity that engages in collusion, cooperating with others secretly or illegally to deceive or defraud.

Degree Of Oligopolization

The extent to which a market or industry is dominated by a few large companies, limiting competition.

Collusion

An agreement between competing firms to control prices or exclude entry of a new competitor in the market, often in secret, to reduce competition and increase profitability.

Cutthroat Competition

An intense form of competition in a market where competitors aggressively undercut each other's prices or use other aggressive tactics to gain market share.