we study short-run business decisions and capital investment decisions, which ar
ID: 1159907 • Letter: W
Question
we study short-run business decisions and capital investment decisions, which are long-term.
Identify decision made by celebrities, movie/TV characters, or you which should have been short-run decisions, but went long-run and visa-versa. What was the result?
I need it like the example below.
As my example:
Short-term should have been long-term--When the first little pig built his house of straw, he just wanted to go out and play. He wasn't thinking that the house wouldn't hold up to the wolf's huffing and puffing. Building his house should have been a long-term decision, but the pig made it short term which didn't work out well.
Long-term should have been short-term--In LIttle Red Riding Hood, Red was supposed to run right to Grandma's house (short-term), but instead dilly-dallied among the flowers which gave time for the wolf to show up at Grandma's house. She should have gone with the short-run decision and gotten over to Grandma's right away.
For your responses, provide pithy thoughts that will advance the conversation. Perhaps you think the straw house is more environmentally friendly and just needed to be insured in case of wind damage.
Explanation / Answer
Celebrity: Oprah Winfrey: Mostly she is known for her talk show "The Oprah Winfrey Show". She is also an actress, producer and philanthropist. I will take decisions that she made in her life to illustrate how her short term decisions gave her benefits in the long run and vice versa.
a) Short term decision proved to be beneficial in the the long term: The short term decision of reading the book "The Seat of the Soul" by Gary Zukav changed the trajectory of her life. The book talks about how every action is followed by a reaction and also before there's even a thought or an action, there is an intention. So, Oprah Winfrey learned that an intention precedes every thought and every action, and the outcome of your experiences is determined by the intention. After reading the book Winfrey wanted her staff to first be clear on what they wanted to tell the world with the show what they wanted the outcome to be. This really helped her to become a successful person. She says that "The Oprah Winfrey Show" is No.1 for the past 25 years because we intended it to be.
b) Long term decision proved to be beneficial in short term: Oprah Winfrey approach to live life in a more conscious way which includes improving self awareness, being mindful, making thoughful choices, practicing an attitude of gratitude, etc. All these long term decisions regarding living her life made her life even more fruitful in the short term as well. Because of choosing such a path in her life, she became a successful and an equally famous person.
OR
I would take example from my personal life. Following are the two incidences from my life which I would like to mention:
a) Short term decision proved to be beneficial in the the long term: Few years back, I decided to start doing meditation in order to improve my concentration. At that time I have decided to continue this activity for 2 months so that I can perform well in my exams but this short term decision proved to be very much beneficial in the long run because I was so much used to the habit of meditation that even after 2 months, I didn't stop doing it. I still follow this practice on regular basis & this has helped me a lot to improve my concentration & empower my learning skills & perform well academically. Meditation helps to improve brain health a lot. It helps one to lead a healthy life.
b) Long term decision proved to be short term: I started working in a cafe in order to earn some money to support my higher studies. As per my judgement I needed to work for atleast 3 years in order to earn the required sum of money. But with god's grace on one day at the cafe, a gentlemen offered me a modelling assignment. I accepted the proposal and went for a modelling contest in which I stood first and won a large sum of money and therefore, was able to earn the required amount only within 2 months. This long term decision proved very much beneficial to me in the short term. Now I have enough money to finance my higher studies.
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