PART ONE: ANSWER THE FOLLOWING QUESTIONS AT LEAST 150 WORDS.
- Can you think of an example in your own life where cognitive biases resulted in you making a poor decision? How might that mistake have been avoided?
- Pick the current or a past president of the United States and evaluate his performance against the leadership characteristics discussed in the text. On the basis of this comparison, do you think that the president was/is a good strategic leader? Why or why not?
- How are EQ skills visible in current events today? Discuss politicians, celebrities, athletes, etc.
PART TWO 100 WORDSPERSONAL FINANCE
No Budget, No Plan: Tyler Bought a Boat!
Tyler, 28, has a good job as a sales representative. He’s always found budgeting boring and has been intending to start a financial plan for years.
Recently, Tyler went fishing with some friends on a rented boat and had a great time. He sopped at a boat sale on his way home. Before he knew it, a salesman had convinced Tyler that the sale was just too good to pass up. So, Tyler ought a $10,000 boat and financed 80% of the cost for the next 5 years. He now finds himself relying on his credit card to get by each month.
What if Tyler had kept track of his money, used a budget, and had a set of financial goals? Knowing where his money went and having a financial plan would have increased the chance that Tyler would have made a more deliberate, informed financial decision.
The above scenario is from "Impact of Personal Choices" page 52 of class textbook. What do you think of Tyler's decision? How could he have made a more informed decision? What does your textbook suggest that Tyler do now? Find another source that can help Tyler. Cite your source.MORE THAN YOUR OPINION!!