Assignment : 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 the due date assigned, post your response to the appropriate Discussion Area. Through the end of module, 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.