Munger's Mental Models

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.

Write your initial response in approximately 300–500 words. Apply APA standards to citation of sources.

By Saturday, January 4, 2014, post your response to the appropriate Discussion Area. Through Monday, January 6, 2014, review and comment on at least two peers’ responses. Consider the following in your comments:

• Examine the discussed mental models and how they changed a decision or direction.
• Provide suggestions for ways to influence situations with new mental models.