Final answer:
The problem-solving model is a systematic approach used in business to create contingency plans by defining problems and brainstorming solutions within given constraints, sometimes using mathematical models.
Step-by-step explanation:
The problem-solving model is a five-step process for creating contingency plans to better serve customers when problems arise. This model involves several stages, beginning with defining the problem to understand the world and the scope of the project, including constraints such as regulations, technology, time, and resources. The following steps include brainstorming alternative solutions to explore a wide variety of ideas, possibly using existing products, scientific principles, and brainstormed concepts to shape potential solutions that fulfill the set requirements and constraints.
Additionally, a mathematical model can be applied to represent a process, object, or concept in mathematical terms, allowing for manipulation of variables to predict behavior in different scenarios. This type of model is crucial for designing a process or building models that can solve problems effectively.