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  • Factors That Influence Decision Making

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    Josh LeBlanc
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    Economic factors: changes in the buying power of the dollar, inflation Consumer spending: demand for goods and services. Personal factors: What is important to your family, others in your culture? Pressure for positive or negative behaviors you are accustomed to doing it this way. Pick one economic influence and one personal factor and do some research to see if you can find a major decision in history that was made based on those influences.

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    Economic factors: changes in the buying power of the dollar, inflation Consumer spending: demand for goods and services. Personal factors: What is important to your family, others in your culture? Pressure for positive or negative behaviors you are accustomed to doing it this way. Pick one economic influence and one personal factor and do some research to see if you can find a major decision in history that was made based on those influences.

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    Attribution Non-Commercial (BY-NC)
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    Отметить как неприемлемый контент
    792 просмотров5 страниц

    Factors That Influence Decision Making

    Загружено:

    Josh LeBlanc
    Economic factors: changes in the buying power of the dollar, inflation Consumer spending: demand for goods and services. Personal factors: What is important to your family, others in your culture? Pressure for positive or negative behaviors you are accustomed to doing it this way. Pick one economic influence and one personal factor and do some research to see if you can find a major decision in history that was made based on those influences.

    Авторское право:

    Attribution Non-Commercial (BY-NC)
    Скачайте в формате DOCX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 5

    There are many factors that can influence the decisions that you can make.

    We have looked at the process for making decisions, but we need to go deeper and see why we identify the solutions that we do and why we develop the pros and cons for each solution. Below are personal and economic influences on decision making.

    Economic Factors
    Consumer prices: changes in the buying power of the dollar, inflation Consumer spending: demand for goods and services Gross domestic product (GDP): total value of goods and services produced within the country Housing starts: the number of new homes being built Interest rates: the cost of borrowing money Money supply: funds available for spending in the economy Stock market index: indicate general trends in the value of stocks Habits Peers Values

    Personal Factors

    What is important to your family, others in your culture?

    People you know Pressure for positive or negative behaviors

    You are accustomed to doing it this way Feelings (love, anger, frustration, ambivalence, rejection) If you do make a certain decision If you dont make a certain decision Family Your familys preference Decisions other family members have made Risks and consequences Unemployment: the number of people without employment who are willing to work Age Minor What (or how much) you stand to win What (or how much) you stand to lose

    Adult

    Your Task: 1. Come up with four decisions that you have made or think that you will have to make and analyze how the above influences may have played or will play a factor in the decision you made. Use the chart below to help you complete the task. 2. Pick one economic influence and one personal factor and do some research to see if you can find a major decision in history that was made based on those influences. Provide a background of the decision that was made and a rationale of how you believe that this decision was influence by the factors you chose.
    DECISIONS AND INFLUENCES - Template Decision that you had/have to make:

    What factors will/did have an influence on your decision?

    Decision that you had/have to make:

    What factors will/did have an influence on your decision?

    Decision that you had/have to make:

    What factors will/did have an influence on your decision?

    Decision that you had/have to make:

    What factors will/did have an influence on your decision?

    HISTORICAL DECISIONS Decision that was made:

    Background Information:

    Influences on the decision:

    Rationale:

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