Foundations of Economics: Respond to the following scenario with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
Over the weekend, you get a call from your brother. He is currently working for a large restaurant chain in their management training program.
“Hi, Lee,” you say. “How’s everything in the sandwich business?”
“Good,” he says. “Great, really. I’m calling because I need your financial brain.”
“Sure. What do you need?”
“Well, I think I found my niche with this job,” he says. “I like the business model this company uses, and I have an opportunity now to buy a franchise. Isn’t that great?!”
“Congratulations!” you say. “You’ve worked hard. You’ve earned it. So how can I help?”
“I want you to look at my personal finances and then help me to understand how to manage it all so I can be successful with this restaurant franchise.”
“Okay. Sure. Let me think about this first, and I’ll call you back after this next week is over. I’m working on some time-sensitive things at Apex and I want to be able to shift my focus.”
“That’s perfect,” he says. “I’ll clear my calendar for next weekend so we can get together—whatever is best for you.”
“Okay! See you soon.”
You hang up and think about how to apply all of the things you have learned over the past 5 weeks at Apex to help Lee manage his personal finances. Maybe a good place to start is to think about your own personal finances, and then translate that to your brother’s situation. Discuss the following:
How can you apply financial analysis techniques to your own personal financial management?
What opportunities do you see?
Note: Write in general terms. Do not divulge personal information.
Responses to Other Students: Respond to at least 2 of your fellow classmates with at least a 100-word reply about their Primary Task Response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following questions:
Discuss the potential opportunities from your post with others.
What did you learn from your classmate’s posting?
What additional questions do you have after reading the posting?
What clarification do you need regarding the posting?
What differences or similarities do you see between your posting and other classmates’ postings?