Topic 7
Substantive posts need to be at least three sentences (minimum of 85 words) and have a particular focus on the student’s post to who you are replying. It helps to encourage the student and expand on one of the student’s ideas and also follow up with a critical thinking question. This spurs on the discussion. Sentences that agree with or simply compliment classmates (and do not add additional content) will not be counted in the three-sentence minimum.
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Discussion Question
DQ# 1 (A least 125 words)
Incremental analysis is used to help companies make decisions involving a choice that offers alternative courses of action. People use incremental analysis in their own personal decision making as well. Provide a hypothetical example from your personal life for how you might use incremental analysis in making a decision. Participate in follow-up discussion by adding additional elements or additional rationale to those of a classmate.
DQ# 2 (A least 125 words)
Making decisions often involves financial and nonfinancial factors. Provide a hypothetical example from your personal life for a situation in which you would consider both financial and nonfinancial factors. What factors would be considered? Participate in follow-up discussion by adding additional elements or additional rationale to those of a classmate.
SP# 1 (A least 85 words)
April
Life is full of choices and decisions. I was in nursing and completed all prerequisite and then lastly I decided to go come back to Grand Canyon to finish my business degree. The decision I was making was based on financial and non financial factor needs. Financially school helped me with Pell grants and I also took out loans. I consider my time a financial factor as well because when I am not working I am at school and making money even when I am not at work is a win for me so I am always keeping up with my second job when I am not at my first job or in school time. The non financial factors outweigh the financial factors. I am proud that I will have my degrees and have the opportunity to grow my career and advance at Banner. I also really appreciate the example I am setting on my family and my son. He sees how hard I work for our future and he values the time we spend together and I have not only happy but proud with my career goals and I hope to keep growing and that the lord continues to prosper in my life. I want to wish you all well and may God bless you all!!
SP# 2 (A least 85 words)
Qur’an B
In a scenario from my personal life, the decision to pursue higher education. This choice involved a delicate balance of financial and non financial considerations. Financially, I have assessed tuition costs, potential student loan debt. Additionally, I’d factor in potential future earnings with a degree versus without in current day in age. The non financial factors play a crucial role as well. Personal fulfillment, intellectual growth, and the potential for career advancement are key motivators. The quality of education, available resources, and networking opportunities also weigh heavily. The impact overall impact on work-life balance and family dynamics cannot be overlooked. It’s apparent that a thoughtful decision requires a holistic approach, evaluating both financial and non financial elements. Striking a balance ensures that I make a well-informed choice that aligns with my long-term goals and personal aspirations. So far my decision to pursue higher education has paid dividends in my personal life to be accountable and strategically plan out my day to day.
SP# 3 (A least 85 words)
Sara D
Although financial is a large factor in many decisions, it is also important to consider non financial elements. A hypothetical example proving that this theory is correct is deciding to get married. I was surprised to learn that in an era of women empowerment, that money is still a large factor. In an infamous personal ad posted on Craigslist this summer, a twenty something New Yorker who described herself as “spectacularly beautiful” wrote that she was looking for a man who made at least $500,000 a year. She’d tried dating men earning $250,000, but that wasn’t “getting me to Central Park West,” she said. (Frank, R. (2007). Marring for Love of Money.) Experts reported that two thirds of all women reported that money would be a large factor in their decision to wed.
In my opinion, I can understand how money would be a factor in a life altering decision such as marriage. It is important to be financially stable to get start a life with another individual. Meanwhile, there are certainly other factors to consider prior to tying the knot. These items include religion and the decision to have children. I have witnessed both of these items play a large part in the decision of marriage.
There are several questions to consider. If you and your soul mate are two different religions, what religion will you raise your child as? What if your soul mate doesn’t believe in God? Meanwhile, what if the other person only wants to focus on their career and never wants children.
Although financial is a large part of every decision, it is important to confirm that all factors are considered.
Frank. R. (2007). Wall Street Journal. Marrying for Love of Money.
Marrying for Love … of Money – WSJ
REPLY
SP# 4 (A least 85 words)
April B
It is June 2020 and it is fathers day weekend and I woke up with the decision to buy a car. I went into the dealer ship and buying a car an example I can give of incremental analysis. I was faced with many choices but I had to decide what car and deal was the best choice for me financially and a car that is dependable and affordable to maintain. I drove a few cars that felt okay but when you know you know! So I saw a Toyota Camry that was a beautiful red and when I got in I felt it was my car. I rode it around and it felt perfect!! As soon as I got to the dealer I started working with numbers and listened to their best offers and I gave them what I had to offer and everything worked out for me. I signed and drove out of the dealer with a new car. It did not have 1000 miles and the payment was adequate for me to pay. I had made a big decision and and went through with it. Buying a car represents my incremental decision and I had to analyze a decision that was going to take years for me to invest in. I feel like buying a car is a big decision for many because buying a car means starting payments in a new car and it just takes a toll on people that need it but are very tight on money and they have to settle for a car as oppose to the car that they probably really wanted. A car is a pricey investment and for most people it is a need. I feel like I was lucky because I bought a car that I really needed but I got what I wanted too.
SP# 5 (A least 85 words)
Qur’an B
Hello Class
Incremental analysis, a fundamental tool in decision-making for both businesses and individuals, involves assessing the additional costs and benefits associated with different choices. In my personal life, I recently used incremental analysis when deciding whether to purchase a new car. I was torn between buying a conventional gasoline Mercedes Benz GLC or an new and improved electric Tesla model Y. The initial cost of the Tesla was higher, but I considered the long-term benefits, such as reduced fuel and maintenance costs, as well as environmental advantages. To apply incremental analysis:
I had to Identify alternatives: Gasoline car vs. Electric
Calculate incremental costs: I compared the purchase price, fuel expenses, and maintenance costs over the expected ownership period.
Assess incremental benefits: I factored in potential fuel savings, tax incentives, and the satisfaction of reducing my carbon footprint.
After thorough analysis, I realized that while the upfront cost of the Tesla was higher, the long-term savings and environmental benefits outweighed it. Consequently, I made an informed decision to purchase the Tesla model Y.
SP# 6 (A least 85 words)
Sara D
Incremental analysis is a common practice in business for decision making. Although, it can also be applied outside the office.
My commute to work is approximately 30 miles. Most would think that 30 miles is a manageable commute. Even though the distance is reasonable, the Boston traffic makes it unbearable. During rush hour, my drive to work can take almost ninety minutes.
Yet, I do have another alternative to get to work. The T train, as Boston natives like to refer to it is a subway and is the alternative.
Utilizing incremental analysis, I reviewed a variety of data to identify the true cost between driving to work or taking the train. Driving to work, five days a week currently costs approximately fifty dollars per week. Additionally, I spend fifteen hours a week sitting in a car. Meanwhile, taking the subway, will cost twenty dollars a week and the total time I will spend on the train is seven hours. Based on the data reviewed through incremental analysis, taking public transportation to work will not only save me money but also time.