...Psychology Risk-takers are smarter according to new study In a recent study using functional magnetic resonance imaging (fMRI), images taken of the brains of young men revealed major differences in what is called “white matter” between two separate groups of participants. The University of Turku in Finland under the direction of SINTEF claims young men that make quick decisions in risky situations have a highly developed neural network and are “smarter” than low risktakers. First each participant was given a personality test to assess the risk-taking propensity and susceptibility to peer influence. By doing this the researcher was able to separate the 17 right-handed, 18-19 year old males into two groups, high and low risk takers. The two groups reported to the Department of Radiology of the Turku University Hospital for two practice sessions. During the sessions they were shows a driving game with sets of 20 stop-light intersections. They learned how to play the game and then reported back for four testing sessions in an MRI scanner. The first two sessions were performed under a non-competition social setting and the last two sessions by surprise were under social pressure of a peer competition situation. Measurements were taken of the participants at each moment that decisionmaking took place wether to stop at the yellow light or try and make it through. Results showed that high risk-takers didn't hesitate for long before they made the decision. Low risk-takers found...
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...RELEVANCE TO THIS COURSE: “Know What Really Motivates You” is an article about motivation in the workplace. Overall, the article promotes how leaders can create motivational fit for employees. It describes how to promote a way for workers to advance in their current work and shows them whether they are excellent at what they do or not. MAIN IDEAS IN THIS ARTICLE 1. “Know What Really Motivates You” focuses on how to get employee going and how to find what motivates them. From this article, at least three areas of experience should be developed. The first area engages how to manage your professional goal. The second area consists of how to create a motivational fit. And the third area demonstrates how to choose a role model. 2. Managing your professional growth is through first identifying your personality type. This could be done with a tool named the “Myers-Briggs Type Indicator.” However, this tool is not accurate to the fact because it doesn’t predict your performance and even if it does, it wouldn’t tell you how to improve your performance. Promotion focus or prevention focus in the other hand can be accurate at predicting performance and how to improve it. 3. Creating a motivational fit is a way to help employees achieve their professional growth which in turn increases performance and job satisfaction. It also helps creating challenges for employees and help to attain specific goals. However, when this motivational fit is not in line with the employees’ goals...
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...Chapter 5 A firm has three investment alternatives. Payoffs are in thousands of dollars. a) Using the expected value approach, which decision is preferred? b) For the lottery having a payoff of $100,000 with probability p and $0 with probability (1 - p), two decision makers expressed the following indifference probabilities. Find the most preferred decision for each decision maker using the expected utility approach. c) Why don’t decision makers A and B select the same decision alternative? Difference in attitude toward risk. Decision maker A tends to avoid risk, while decision maker B tends to take a risk for the opportunity (Risk taker) of a large payoff. (Can be check by plotting the values). Q#2. Alexander Industries is considering purchasing an insurance policy for its new office building in St. Louis, Missouri. The policy has an annual cost of $10,000. If Alexander Industries doesn’t purchase the insurance and minor fire damage occurs, a cost of $100,000 is anticipated; the cost if major or total destruction occurs is $200,000. The costs, including the state-of-nature probabilities, are as follows: a) Using the expected value approach, what decision do you recommend? b) What lottery would you use to assess utilities? (Note: Because the data are costs, the best payoff is $0.) Lottery: p= probability of a $0 Cost and (0 is highest payoff and 200, 000 is the lowest value) 1 - p = probability of a $200,000 Cost c) Assume that...
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...his career, Mr RATAN TATA has been a RISK TAKER and a MAN OF IDEAS. Instead of working as a superior manager he has always preferred to work as a TEAM and this APPROACH AND VISIONARY has made him a LEADER who has today taken THE TATA GROUP to new heights. His RISK TAKING CAPABILITY has opened new doors and domains into his business and has helped THE TATA GROUP to wide spread the wings towards success. His BELIEVES and a LOYAL APPROACH towards his business and the customers has proved to be a plus point for him. He is till date a CONSISTENT and a STRATEGIC MAN who takes care of each and every department of the group from the very grass rot levels. Mr RATAN TATA has always been an ETHICAL SOUL and a MAN OF HIS WORDS. Knowing his customers and their needs, thus finally meeting up to their expectations has been a priority for him and his group. His effort towards SOCIAL AND ENVIRONMENTAL ISSUES shows his socially responsible nature and a kind heart. By inaugurating and opening up several institutions and always WELCOMING AND APPRECIATING NEW IDEAS, he shows his acceptance to the EVER EVOLVING WORLD AND CHANGING NEED OF THE PEOPLE FOR THE BETTERMENT OF THE WORLD AND TO AVOID THE MONOTONY NATAURE OF THE BUSINESS. The skills which he imbibe - 1. INITIATOR 2. ETHICAL 3. LEADERSHIP QUALITIES 4. RISK TAKER 5. VISIONARY 6. MODERN AND CONSISTENTLY CHANGING WITH THE CHANGING WORLD APPROACH – MODERN ENTREPRENEUR AND A RISK TAKER 7. LOYALTY AND BELIEVES 8...
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...because of risk-taking tendencies. In the story, Into the Wild by Jon Krakauer, he talks about the very long but short journey for Chris McCandless leaving the East Coast and going to Alaska without any worries of what lied in his future trip to Alaska. Before starting his journey he burned all of his belongings, such as his I.D., credit cards and money that he had in his wallet. But he had $25,000 for his college fund but donated all of it. Along his way to Alaska he met a lot of people that he has helped in someway. But the real case is why did he leave everything to go to Alaska. Some may say that he was the cause of his parents, but I believe that he left because he was a big risk-taker and felt that he was very independent and daring. The reason why I believe that he left because he was a risk-taker and independent is because he left home without saying a word to anyone and started his journey to Alaska. Although his journey to Alaska got him killed, he enjoyed his life and everyone that was part of it. In the article “Why the Teen Brain is Drawn to Risk,” explains why some of the reasons why Chris left to Alaska. Even though Chris knew the risks of going to Alaska,...
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...Effects of Risk Takers 1 Effects of Risk Takers Introduction to Business 21 November 2009 Effects of Risk Takers 2 In the late 2008, firms suffered immensely from investing in auction rate securities. ARS are bonds that the return rates rely on auctions that take place on every 7th week at a minimum. The company’s financial investor managers were under the impression that buying those types of bonds were the way to go. However, Outfitters decided to play it save and invest conservatively. As Benjamin Franklin quoted "Necessity never made a good bargain". In other words, do not invest funds that are needed prematurely, in hopes of an unrealistic high return. The Outfitter financial managers were patient with their finances. Because the Outfitters had a steady cash flow, they invested cautiously. The Outfitters outcome wasn’t as awful as some other firms. Although corporations are faced with challenges, patience is an asset. Firms like Countrywide Financial, Lehman Brothers, and American International Group all had issues with liquid assets. Because of this, they all invested heavily into ARS which in turn made their investment options unstable. When companies as large as these firms do not have enough cash in the bank or liquid assets, it puts them at an increase disadvantage to withstand a financial crisis. Case in point, when the economy went south in 2008, these companies were not able to inject cash back into their businesses because they...
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...Overview I have inherited $2.5 Million dollars from the passing of my dear Uncle Jessup Waterloo. After much deliberation I have decided to invest my monies into capital markets such as NASDAQ and so on. To further increase my inheritance I chose to disburse the money accordingly: • $1.5Million into capital markets • $500,000 donated to UrbanPromise Charity • $500,000 into a regular bank account The $1.5 million into capital markets allows me to take a risk towards making good investment choices that could reach a high yield of return. Being a native of New Jersey it would not feel right if I did not give back to my community. I am going to make a $500,000 donation to UrbanPromise based in New Jersey. This organization has devoted its time and monies to helping our youth through job training, after school programs, religion, and college tours to name a few. By withholding $500,000 I have some reserve money and also some liquid assets if my investments don’t go as planned. Strategy/Execution Acquisition of the shares bought into these companies began on November 18th, 2013 and were sold November 22nd, 2013. First I plan to do my own research to find companies that interest me. Next I plan to communicate to my broker about my interest in different companies and industries. Then between my broker and I we will come together to build my portfolio. If the portfolio needs attention such as buying or selling then I leave that matter in the hands of my broker, for we...
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...world there are those who think they run the world and there are those who think the gods run the world. Quinn states that there are two types of people or living beings there are takers and there are leavers. Leavers are a being that believe that the gods run the world. They believe that if they are hungry the gods will give them what they need either by sending wild game or by sprouting vegetation. The takers are a being that believe that they run the world and that they were created to run the world. They don’t want to put the fate of their lives into the god’s hands; they want to be in control. So let’s say that the takers are hungry instead of putting their fate into the gods supplying them with food like the leavers, the takers will grow their own food so that they can have what they want, as much as they want and save as much as they want and don’t have to rely on the gods. He constructs this thesis by looking back at the past history of the world and some of the events that took place and are still taking place. He starts by talking about how for centuries there have been stories of how the takers have been fighting the leavers, Cain and Able for example, trying to convince them that the takers way of living is the right way of living. He also brings up some of the current events that show the takers still today are trying to show that they run the world by tearing down rainforests and destroying the brush just so we have more land to grow vegetation. He lastly talks about...
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...victory; he has survived another BASE jump. McGuire is a practitioner of what he calls the king of all extreme sports. BASE—an acronym for building, antenna, span (bridge) and earth (cliffs)—jumping has one of the sporting world’s highest fatality rates: in its 18-year history, 46 participants have been killed. Yet the sport has never been more popular, with more than a thousand jumpers in the U.S. and more seeking to get into it every day. It is an activity without margin for error. If your chute malfunctions, don’t bother reaching for a reserve—there isn’t time. There are no second chances. Still, the sport’s stark metaphor—a human leaving safety behind to leap into the void—may be a perfect fit with our times. As extreme a risk taker as McGuire seems, we may all have more in common with him than we know or care to admit. Heading into the...
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...story goes through the life of Rob Mitchell, from the day he was dropped off at the orphanage by his mom throughout his life until it comes full circle to the death of his Grandma Gigi. The story tells of how Rob figures out life, love and God. Rob has many attributes of an IB learner that he can be characterized by, some of which include, being a risk taker, reflective, and an inquirer. First and foremost, Rob is a risk taker because while he is at the orphanage he stands up to bullies at school who make fun of the kids from the orphanage. “Fighting was nothing new to me by this time. The older boys at the home had taught me well-painfully well. I knew just were to hit to keep from leaving tell tale bruises and bumps, just how to punch the ribs and skull to leave the longest -lasting aches.”(Mitchell, p.26). Rob took many risks throughout his life, some good and some bad. Another example if his risk taking was when he went hunting with a case worker named Bob, and he shot rabbits and squirrels. This was a risk for Rob because it could involve many dangers and injuries. This book is filled with many examples of Rob taking risks. Secondly, reflective is another trait that Rob possesses. He often reflects on his past and his older memories. At the end of the book Rob reflects back saying, “Society said I was just a kid from an orphanage probably doomed to a life of meaningless drifting, an early death, or prison. Genetics suggested I might suffer my parents’ afflictions. I...
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...Malaysia. Type of Essay: | |Introduction | | |Problem Statement: Nowdays,Malaysia has produced many success people,such as Tan Sri Syed Mokhtar Albukhary, Robert Kuok and | | |Tony Fernandes.Mostly theywere succeed in business and entre prenership.Their success to some extent has catributed to the | | |country in economical aspect.There are many success secret of wealthiest men in Malaysia. | | |Thesis Statement: Thus, the secret to be successful like the wealthiest men in Malaysia are believing in ourselves, thinking | | |creatively and being a risk taker. | | | |II |Body | | |A |Main Idea 1: be a humble person | | | |Topic Sentence 1: One of the secret to be successful is be a humble and down to earth person. | | | |1 |Controlling Idea 1: do not forget the origin of life. ...
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...from others. Heroes are just like us they get up every morning and just go on with their life some people think hero’s just wake up and say let go find people to save today. That’s not what hero’s do they wake every morning with a smile on their face because they know they had did something good for a person. A brave person is someone who knows what to do when someone is in trouble. They are the first one to react when there is a problem. Knowing the right thing to say and do no matter what the situation. A person doesn’t go to war to be a hero. That person is a regular person that you and I see every day. And are great people to know and be around. A risk-taker is a person who jumps in to help. They react without thinking about them self. Taking risk shows confidence and helps out other and them self. A risk-taker sometimes helps you to be more successful. They can help you achieve your goal and dreams by playing it safe and show how to so with hurting yourself or anyone. There were two ladies and a police officer jogging in the park these three people are hero’s to a lady who was jogging in the park as well, when a 15 year old boy came up behind her and started stabbing her in her neck, arm, and her throat. When the three people heard her screaming, they did everything to help her by throwing rocks and other thing they can find at him to make the boy stop. They were able to stop the boy and the cop help with his arrest. The two ladies stayed with the girl they...
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...is aa new opportunities. ‘To build something’ describe the outcome. ‘Perceived opportunities’ is important to provide direction and focus. (Bill Bolton and Jhon Thompson) Characteristics of an entrepreneur: According to the Bill Bolton and Jhon Thompson entrepreneurs has some key Characteristics. Ability to take the calculated risk Need to achieve Initiative and taking responsibility Orientation to clear goals Creativity Honesty and integrity Independency Entrepreneurial attributes: Attributes are being considered as the best predictors of an intention to a particular behavioral act. The model is based on psychologists Fishbein & Ajzen (1980) to explain human action is a part of behavior. 1) Clarity of vision and expectations: In this point entrepreneurial must be able and willing to communicate to everyone about vision, goals, and objectives. Everyone have to be absolutely clear because people won’t follow if they are confused. 2) Willingness to make decisions: Business decisions always involve in risk, at times a great deal of it. Smart entrepreneurs always balance the risk when...
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...List * Appendices Introduction In this report there will be an evaluation of Groupthink. Janis eight causes of Groupthink and what the remedies are. Aldag and Fuller’s model of groupthink and how it is different from Janis’s model. There will also be an evaluation of Risky Shift Phenomenon, this will include the causes and the remedies of Risky Shift Phenomenon. Groupthink Irving Janis says Groupthink occurs when “a group makes faulty decisions because group pressures lead to a deterioration of “mental efficiency, reality testing, and moral judgment”” (Janis, pg 9.) Groupthink - Causes According to Janis there are eight causes of Groupthink. Illusion of invulnerability; creates too much confidence that encourages extreme risks. Collective rationalization; members warned about something but do not take any notice. Belief in inherent morality; members believe in their goal and ignore all moral consequences. Stereotyped views of out-groups; negative views of enemy make effective responses to conflict seem unnecessary. Direct pressure on dissenters; members cannot argue with group views without being under pressure. Self-censorship; deviations from group consensus are not expressed. Illusion of unanimity; the majority views of the group are assumed to be unanimous. Self-appointed ‘mindguards’; members protect the leader and the group from information that is problematic. (Janis, pg 445.) Groupthink – Remedies According to Janis there are ways to avoid groupthink...
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...* Overview * Health Riskers * Indulgent Risk Takers * Restaurant Regulars * Nutrition Curious * Passive Dieters * Health Focused | | "ARAMARK's research on Nutritional DiningStyles is using innovative scientific methodology to provide valuable new evidence about individual and environmental factors that influence food choices and eating behaviors in real world settings. This research provides ARAMARK with critical data to better meet the needs of customers and consumers. In addition, their findings will provide nutrition and public health researchers with new insight into how to promote food choices that contribute to healthier diets." Leann Birch, Ph.D. Distinguished Professor of Human Development and Family Studies College of Health and Human Development The Pennsylvania State University ARAMARK regularly studies consumer eating patterns and preferences to identify ways to better serve them. Nutritional DiningStyles™ is ARAMARK's proprietary research on the eating habits of American adults. DININGSTYLE™ 14% of American adults most closely fit this profile. Indulgent Risk Takers Profile: There is one word to describe how you eat: BIG. When you eat out, you value price and convenience versus whether or not it's good for you. Your value-driven, mega-sized portions equal a lot of additional calories, fat, and added sugars that may push out healthier nutrient-dense foods in your diet, such as fruits and vegetables, whole grains, and...
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