as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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outline the four steps of the problem solving process.
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the four steps of the problem-solving process are: 1) define the problem; 2) generate possible solutions; 3) evaluate the options and choose the best solution; and 4) implement the solution. the first step involves understanding the problem and clarifying it by identifying the cause and effect. the second step involves brainstorming and generating possible solutions involving both short-term and long-term solutions. for the third step, it is important to evaluate the pros and cons of each solution. finally, the last step involves implementing the chosen solution by taking the necessary steps to put it in motion.
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