Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mira just graduated. She was thrilled and can't wait to start on a job. She has big dreams and plans to buy a property before
Mira just graduated. She was thrilled and can't wait to start on a job. She has big dreams and plans to buy a property before the age of 30. Owning her own property means she is independent and self-reliant. She was also aiming for a salary of RM 3,000 a month and as such worked really hard in University to obtain high CGPA while being active in athletics and toastmasters where she represented her university at regional level. Regardless she found it hard to find a job with that salary as the current pandemic has crippled the economy sector and baseline for salaries has reduced by 20 percent or more. To make matters worse, many Malaysian's were losing their jobs as companies were downsizing to reduce cost, making it very difficult to negotiate for higher salaries. Some companies even had to close down as they couldn't sustain operations. Looking at the situation, Mira decided to take up any suitable job even if the salary was lower than what she expected. She finally got a job as a Management Trainee with a starting salary of RM 2,200. As her parents live in a different state, she has to find an accommodation in KL and she also has plans of joining a fitness club as she is an active person. Mira is still fired up to achieve her dreams but feels doubtful at times if she can really make it. Assignment Questions 1. A) What are the key information that is important for Mira's dream house purchase consideration? Thinking Hat Factor Information Blue The Big Picture and End Desired Outcome White Facts and Data Green Opportunities Black Risk Factors Yellow Positive Aspects Red Emotions (5 marks) B) Which of the following decision would you advise Mira to undertake based on a budget and 6 factors consideration? Provide justification/rationale for the decision advised i) Decision 1: Mira lives a drastically prudent minimalist lifestyle where she cooks her own meal, stays at home mostly and visit friends in their house or at mediocre restaurants, wears basic fashion clothing and avoids unnecessary purchases so she can maximize her savings every month ii) Decision 2: Mira learns a valuable skill like programming, web designing or digital marketing and works part time in addition to her management trainee job whereby she works on average 18 hours a day. She uses the main salary for her expenses and part time salary for savings to buy her house. iii) Decision 3: Mira drops her decision to buy her house in 30's instead delay the purchase to the age 40 or beyond and embraces the fact that her lower salary and exorbitant house prices is the reason she can't purchase a house as per her initial plan (5 marks) Some key considerations and thoughts in choosing the decision and providing justification for Question 2: Mira wants to manage her expenses well. She wants to maximize her savings to achieve her goal of buying a house before she turns 30. Mira has to look for a room to rent in Kuala Lumpur as her family are in Sabah. She has to pay her education loan RM 350 monthly. Help Mira draft her budget. What would you advise her to eliminate and too add Take some time to compare, and reflect upon your own personal situation with Mira's. What will you do? 2. As a team, reflect on the following: A) Identify the hats that your group used the most and the least. Explain why. (5 marks) B) In the future, how would you improve your group decision making process by adopting all the 6 Thinking Hats in a more balanced approach? Explain your
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started