Homework Essay | College Homework Help



Decision-Making Process

For buying a home









Every decision making process is definitely needs to be properly well thought of and planned in a manner so that going forward issues of any type arising out of the decision being undertaken, can be handled properly. (Monahan, G. 2010) My decision making process would be for purchasing a new house for the purpose of dwelling at the heart of the city. Now, as evident, it requires planning and proper alignment of ideas and execution of those ideas in the right track to reach the goal.

Steps of the process

At the foremost, I will chalk out a plan of what exactly is the requirement. Next, how much cost it would incur to buy a house of desire and that too at the heart of the city. Now, the next step would be assess all my tangible and intangible assets so as to be able to calculate how much I am prepared for paying up for the price of the house and how much will be left after purchasing the same. This is one way but if I do not possess sufficient amount of money then the alternative strategy would to go for a bank loan so I will look for all available options for availing a loan and that too at an attractive interest rate and other benefits. And once I am settled with a good deal-providing with an acceptable rate of interest and an equated monthly payment which is best suited for me, I can move happily and apply for the loan and once it is sanctioned, I can easily avail the house.

Comparison of the process with in text process

The steps that have been mentioned above are quite similar to the ones described in the text as both the processes are devised and directed in a manner so that the ultimate target can be reached (irrespective of the target itself) with lesser hassle and issues of any type and the strategic planning as outlined above are also in sync to that described in the text. (Daniel Kahneman et al. 2010) The only point that can be said here that signifies the difference of the process described in text and the process outlined as per my own plan is that in real life everything can change all on a sudden and so a plan that seems very lucrative now, may not be the same say five years down the line so application of the processes in reality can be very tough at times and challenging as well and this varies from person to person and depends on a large extent upon the situation. (Schacter, Gilbert, 2012)

Difference if opted for the same path outlined in text

There practically would not have much difference barring the fact that the additional safety precautionary measures which are mentioned in the text are difficult to be met up and if I would have to blindly follow text methods then the financial part needs to be strengthened and for that it would definitely incur more time to reach the desired objective.




College Homework Help

Schacter, Gilbert, Wegner (2012) Management (2nd Edition), Worth Publishers.

Daniel Kahneman, Amos Tversky (2010). Choice, Values, Frames. Cambridge University Press.

Monahan, G. (2010). Management Decision Making. Cambridge: Cambridge University Press. pp. 33–40.