Career and Financial Management Making Effective Decisions

Introduction Senior High School is an important time to plan and prepare for the future The goals you set and accomplish now will have a great effect on the rest of your life It is time to begin careful educational planning and development http://www.me.stier.org//Guidance1.aspx

Career/Technical School Training Career Ladder Advanced Degree Bachelor’s Degree Associate’s Degree Career/Technical School Training High School Diploma No High School Diploma

http://www.bls.gov/emp/ep_chart_001.htm Note: Data are for persons age 25 and over. Earnings are for full-time wage and salary workers.

Objectives Name the seven steps in the decision-making process Apply the decision-making process to career selection Explain the importance of personal, career, and work decisions

Making Decisions Routine Decisions: Decisions that you make often and require little thought What time to get up in the morning, what to wear, what to eat for breakfast, etc. Impulse Decisions: Snap decisions that do not require much thought or planning Walking home on a sunny day, going on a road trip with friends, etc.

Big Decisions Decision-making process: a series of steps that can help you identify and evaluate possibilities and make a good choice The longer a decision will affect your life, the more you need to think about it Buying a car, joining the military, selecting a career

The Decision-Making Process STEP 1: Define your wants and needs STEP 2: Analyze your resources STEP 3: Identify your choices STEP 4: Gather information STEP 5: Evaluate your choices STEP 6: Make a decision STEP 7: Plan how to reach your goal

Trade-Offs For every decision you make, there is a trade-off, or exchange By selecting one alternative, you must give up others

The Bottom Line How do you make a decision? Impulse, Routine, or Decision-Making Process Trade-offs

Career Decisions One of the biggest decisions a person can make in their life Often not taken seriously enough Use the decision-making process

Step 1: Define Your Wants and Needs Do you want to work full-time? Where do you want to live? How much money will you have to earn to have the lifestyle you would like?

Step 2: Analyze Your Personal Resources Who are you? What do you have to offer?

Step 3: Identify Your Career Choices Select several possible careers Match personal wants and needs with career choices

Step 4: Research Your Career Choices Learn more about careers before selecting one Many sources for finding information

Step 5: Evaluate Your Career Choices Using your research, look carefully at each career Determine whether the career matches personal needs and resources

Step 6: Make Your Decision Select the career that best fits your wants, needs, and resources One will probably stand out as a best choice

Step 7: Plan How to Reach Your Goal Determine the steps it will take to reach your career goal May have to adapt or compromise career plan

Applying the Process—Step 1: Define Your Wants and Needs Live in a large city $50,000/year Full-time, stable job

Applying the Process—Step 2: Analyze Your Personal Resources Enjoys helping others Organized Mathematical

Applying the Process—Step 3: Identify Your Career Choices Economist Teacher Financial planner Real estate agent

Applying the Process—Step 4: Research Your Career Choices Spoke with guidance counselor Visited websites about math careers

Applying the Process—Step 5: Evaluate Your Career Choices Compared amount of money you could make Where to live What daily tasks would be like

Applying the Process—Step 6: Make Your Decision Personal finance planner

Applying the Process—Step 7: Plan How to Reach Your Goal High school courses College programs Bachelor’s degree Special certifications

The Bottom Line Define your wants and needs Plan how to reach your goal Analyze your resources Make a decision Identify your choices Evaluate your choices Gather information

Personal Decisions Choices that affect you personally Influenced by likes and dislikes Personal decisions can determine: The food you eat, your hairstyle, the clothes you wear, your lifestyle, etc.

Personal Decisions and Work Personal decisions may affect career decisions E.g.: clothing choice, personal information on public websites, personal skills development

Work Decisions When working, you face decisions every day Affect your job and other people Answers are usually obvious

Work Decisions Difficult Decisions Use the decision-making process E.g.: Am I willing to relocate if I take this promotion?

No Decision Is not making a decision, a decision?  YES! Must accept the decision others make for you

The Bottom Line Personal Decisions Work Decisions

The Decision-Making Process STEP 1: Define your wants and needs STEP 2: Analyze your resources STEP 3: Identify your choices STEP 4: Gather information STEP 5: Evaluate your choices STEP 6: Make a decision STEP 7: Plan how to reach your goal

Journal Question What is one big decision you have made in the last few months? How did you make that decision?

Journal Question What are the three main decision-making types discussed in the article?

Journal Question What are the pros and cons of being a single decision-maker?

Journal Question Looking at the pros and cons for each of the standard decision making types, which would be the most effective overall method? Justify your answer.

Journal Question What is one big decision you have made in the last few months? How did you make that decision? Student responses will vary. Students should identify a recent decision and explain how they made it. Students should be thoughtful and reflective in their responses, using complete sentences and proper grammar.

Journal Question What are the three main decision-making types discussed in the article? The three types of decision-making types discussed in the article were single decision-maker, majority rule, and consensus/collaboration.

Journal Question What are the pros and cons of being a single decision-maker? The pros of being a single decision-maker are that the decision can be made quickly and that the responsibility of the decision is on one person. The cons of being a single decision-maker are that the decision can be based on individual bias and other opinions and inputs may not be considered.

Journal Question Looking at the pros and cons for each of the standard decision making types, which would be the most effective overall method? Justify your answer. Student answers may vary, but there are advantages and disadvantages to each kind of decision making type in different scenarios, so student responses should be considered correct on the basis of their justification for their choice.