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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.

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