M1-Assignment 2: Discussion—Munger’s Mental Models

In his article “A Lesson on Elementary, Worldly Wisdom as it Relates to Investment Management & Business,” Charles Munger (1995) wrote about tools, techniques, and critical skills that great managers need to develop.

Consider Munger’s thoughts on the importance of mental models. Respond to the following:

• In your own words, describe what Munger means by mental models.
• Examine how Munger’s concept of mental models has changed your ideas of decision making in investment management and business.
• Describe at least one example from your own experience where your perspective or experience provided a mode of thought that brought new light to a discussion or a tough decision.
• Explain how this experience has affected your decision-making process.

Munger, C. T. (1995). A lesson on elementary, worldly wisdom as it relates to investment management & business. Outstanding Investor Digest, 1, 49–63.

By Saturday, July 18, 2015, post your response to the appropriate Discussion Area. Through Monday, July 20, 2015, review and comment on at least two peers’ responses.

Write your initial response in 300–500 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation

Do the following when responding to your peers:

• Read your peers’ answers.
• Provide substantive comments by
  • contributing new, relevant information from course readings, Web sites, or other sources;
  • building on the remarks or questions of others; or
  • sharing practical examples of key concepts from your professional or personal experiences
• Respond to feedback on your posting and provide feedback to other students on their ideas.
• Make sure your writing
  • is clear, concise, and organized;
  • demonstrates ethical scholarship in accurate representation and attribution of sources; and
  • displays accurate spelling, grammar, and punctuation.

Grading Criteria

Initial response was:

• Insightful, original, accurate, and timely.
• Substantive and demonstrated advanced understanding of concepts.
• Compiled/synthesized theories and concepts drawn from a variety of sources to support statements and conclusions.

Discussion Response and Participation:

• Responded to a minimum of two peers in a timely manner.
• Offered points of view supported by research.
• Asked challenging questions that promoted discussion.
• Drew relationships between one or more points in the discussion.

Writing:

• Wrote in a clear, concise, formal, and organized manner.
• Responses were error free.
• Information from sources, where applicable, was paraphrased appropriately and accurately cited.