Financial Decision-Making: Course Analysis
1. Read your post under the first week introduction in which you described your financial decision making prior to the course. Then tell us how you have changed and what impacts the course has made on your decision-making.
My week 1 introduction is totally focused on how people think specifically of how my client think or how they make a decision when it comes to applying for loans. I thought the course would explore different behavior tactics or strategy on how to make a decision when applying for credit needs such as home loans, home equity line of credit, consumer line of credit, personal loan, personal line of credit, business loan, commercial loan and credit cards. After reviewing all the comments and interactions of week one, I realize …show more content…
I’ve learned different aspects of decision-making and I have few of many theories/principles that attract me personally such as reframing theory, Ikea effect, principals of authority, principals of liking/disliking, mental models, second-order thinking, social proofing and reciprocation …show more content…
My take away, after reading multiple current events about how to make a decision or how my behavior affects my decision, I think could apply certain theory at my workplace, for example, the principals of liking/disliking. For instance, I am working with a member that is new to the country and needs to establish his/her credit score. As their banker, I will be recommending to apply for an auto loan or a credit card to help them establish their credit score. Then, I need to work with the underwriter to review my member’s application. I notice that every time a male underwriter would handle my application it was always rejected. However, if a female underwriter reviews my application it would always get approved. I came to realize that the male underwriter doesn't like me on a personal level because I think we got off on a wrong foot when I was new to the company. On the other hand, the female underwriter was recently hired this year and we had a good connection. Therefore, I conclude that the principals of liking and disliking play an important role in
My week 1 introduction is totally focused on how people think specifically of how my client think or how they make a decision when it comes to applying for loans. I thought the course would explore different behavior tactics or strategy on how to make a decision when applying for credit needs such as home loans, home equity line of credit, consumer line of credit, personal loan, personal line of credit, business loan, commercial loan and credit cards. After reviewing all the comments and interactions of week one, I realize …show more content…
I’ve learned different aspects of decision-making and I have few of many theories/principles that attract me personally such as reframing theory, Ikea effect, principals of authority, principals of liking/disliking, mental models, second-order thinking, social proofing and reciprocation …show more content…
My take away, after reading multiple current events about how to make a decision or how my behavior affects my decision, I think could apply certain theory at my workplace, for example, the principals of liking/disliking. For instance, I am working with a member that is new to the country and needs to establish his/her credit score. As their banker, I will be recommending to apply for an auto loan or a credit card to help them establish their credit score. Then, I need to work with the underwriter to review my member’s application. I notice that every time a male underwriter would handle my application it was always rejected. However, if a female underwriter reviews my application it would always get approved. I came to realize that the male underwriter doesn't like me on a personal level because I think we got off on a wrong foot when I was new to the company. On the other hand, the female underwriter was recently hired this year and we had a good connection. Therefore, I conclude that the principals of liking and disliking play an important role in