Master in Business Administration

Reflection & Analysis Paper

By HgMt

Analysis & Reflection: “Rich Dad Poor Dad” by Robert Kiyosaki

The video presenting the summarized book of Robert Kiyosaki “Rich Dad Poor Dad"
serves as a manifesto challenging my conventional wisdom about life, education, and money.
First, the emphasis placed on how a profession or a successful career doesn't guarantee
financial success has prompted me to reevaluate my belief that high education alone can solve
our financial dilemmas. Academic success, it seems, isn't enough for financial success unless
we change the way we think and handle our finances. Having a good or high-paying profession
won't necessarily make us rich; it might, in fact, confine us to being highly paid slaves.
Moreover, the distinction between assets and liabilities was an eye-opener for my
financial decision-making and understanding. To achieve true wealth, we must comprehend
the dynamics of money and its power. Harnessing the power of money to invest in and acquire
assets, all while overcoming the fear of risks, is crucial. Starting with the hard work required
to generate income that allows us to buy assets, managing these assets effectively can lead to a
continuous stream of income. This income can then cover our expenses and be reinvested to
gain additional assets. The book convincingly argues that even high salaries in esteemed
professions might not be sufficient for achieving financial success.
However, entrepreneurship, while not a feasible option for everyone, is presented as a
path for those brave enough to take risks and embrace uncertainty, ultimately increasing their
chances of attaining true wealth. The emphasis on investing, creating assets, and generating
passive income is a crucial aspect of creating lasting wealth. Unfortunately, a significant
percentage of people remain tethered to the safety net of traditional employment. This
highlights the necessity of financial education to redirect our thoughts and reshape our financial
mindset.
In conclusion, "Rich Dad Poor Dad" has not only challenged my conventional beliefs
but has also sparked a re-evaluation of my financial mindset. It emphasizes the transformative
power of strategic investments, the importance of distinguishing between assets and liabilities,
and the need for financial education to navigate the complexities of the financial world. This
newfound awareness goes beyond academic achievements, paving the way for a more
intentional and informed approach to financial success.
Master in Business Administration
Reflection & Analysis Paper
By HgMt

Analysis & Reflection: Business Ethics

Ethics serves as the guiding force behind our moral choices, representing the essence
of our character as we navigate the distinction between right and wrong through the compass
of our conscience. While Business Ethics are the rules, principles, and standards for deciding
what is morally right or wrong in the workplace. It involves implementing appropriate business
practices and policies with a legal basis.
My key takes away is that being ethically sound in business involves essential qualities
like honesty, fairness, leadership, integrity, compassion, respect, responsibility, loyalty, law-
abiding, transparency, and environmental awareness. Honest and transparent dealings will
build trust, while fairness ensures unbiased practices. Ethical leaders must set an example on
demonstrating integrity and fostering ethical behavior. Having compassion and respect for
diverse perspectives are also crucial, as is taking responsibility for actions and their impact.
Our loyalty to the organization, compliance with laws, and transparent communication make a
huge contribution to ethical business conduct. We should also be able to recognize and address
environmental concerns that completes the picture in creating a foundation for trust, positive
culture to sustained success in the business world.
Institutions serve as the starting point, in creating ethical leaders, teaching values and
principles that lay the foundation for leaders to be honest, fair, and responsible. On the other
hand, when it comes to good ethics in business, corporations take the lead. They set the tone
by fostering a culture of integrity, transparency, and environmental responsibility. In
conclusion, institutions shape ethical leaders, while corporations actively build and promote
ethical business practices, creating a solid ethical framework for the business world.
Furthermore, business ethics is like a secret recipe for success. It's not just about being
good; it's about making smart choices. When companies act ethically, they often make more
money. If they don't, they might lose money because people trust businesses that do the right
thing. Trust boosts a company's reputation, making customers more likely to buy from them.
So, being ethical isn't just about being nice; it's a smart strategy for business success and making
more profit.
Master in Business Administration
Reflection & Analysis Paper
By HgMt

Topic: Denzel Washington Motivational Speech 2023

Source: https://youtu.be/tbnzAVRZ9Xc?si=zjbaE_-L6cfHAsO-

Actor Denzel Washington gave a commencement speech at the University of Pennsylvania in

2011, in which he urged graduates to take risks and not be afraid of failure. He said that without passion
and consistency, goals cannot be achieved, and that it is important to think outside the box and embrace
failure as a learning experience. Washington emphasized the need for graduates to use their talents and
gifts to make a difference in the world, encouraging them to help those in need in places such as Africa,
the Middle East, and parts of the United States. He concluded by saying that life is not a straight path
and that failure can be a valuable tool in figuring out one's direction in life.
Additionally, the speaker emphasized that we have to dare to live larger than you think you are
capable of living, and don't settle for anything less. Dream big and take risks to realize your goals
because without them, they are just dreams. After a setback, keep working hard to be ready for the next
chance, and eventually you will succeed. "Imagine you're on your deathbed and standing around your
deathbed are the ghosts representing your unfulfilled potential." He said.

No matter how much you have, your skills and abilities are valuable: "What are you going to
do with what you have?" This is one of the statements given by the speaker that has a huge impact on
the listeners. It only emphasizes that what we have doesn't matter that much, but what are we going to
do with it. Given a scenario wherein you have a hundred thousand dollars and you didn't do anything
with it because you're afraid to take risks, it will just remain a hundred thousand dollars. However, if
the money was invested, it can be two, three or even four times more!

In conclusion, the video was all about the speaker encouraging his listeners to determine their
purpose in life, what they want to do with it and how they are going to do that. He also shares the beauty
of taking risks and that it is one of the most important elements of financial literacy.
Master in Business Administration
Reflection & Analysis Paper
By HgMt

Topic: Lies About Money

Source: https://youtu.be/xbSYHrl9eTY?si=C6I1QUr7_IlqVQ1M

The article discusses how traditional education systems fail to teach individuals financial
literacy, leading to financial struggles and misunderstanding of wealth creation. The author, a law
school graduate, explains how he was taught to go to school, get a degree, and find a job, but after
studying successful wealthy people, realized that they do not follow this path. He emphasizes the
importance of understanding personal financial goals and taking the initiative to educate oneself on
financial management, entrepreneurship, and wealth creation. The author also shares his personal
journey of starting an event planning company in college and learning about entrepreneurship and
passive income. Ultimately, he urges individuals to question traditional education systems and take
control of their financial futures.

In addition, Jaspreet emphasized that people who pay exorbitant interest rates on credit card
debt are essentially enriching credit card companies while depriving themselves of the ability to
accumulate wealth. He also added, "Learn the rules to the game of money, because so many people
struggle with money simply because they don't understand the rules." Another advice was given by the
speaker and it is all about investing and starting a business. Even if it means compromising one's
comfort and appearance, he said, starting a business and making investments in assets like rental
properties can be more valuable than material possessions. You can increase your wealth by investing
in the right assets and taking advantage of the power of compound interest. When it comes to investing,
you have to be willing to take chances and make mistakes because every one of them is a valuable
teaching moment. Investing psychology holds equal or greater significance than the technical aspects
of investing. The speaker asserts that investing in startups and your own company is the most
worthwhile venture.

Moreover, understanding taxation, wealth strategies and government benefits will also be
beneficial. Since those without financial literacy typically pay higher taxes as consumers and employees
and can find ways to minimize their tax obligations, governments stand to gain from keeping people
financially illiterate. It's important to distinguish between tax evasion and avoidance because the former
is legal and can help wealthy people pay little to no taxes. Rich people play the tax code strategically to
their advantage because they know that money is a game.

In conclusion, educational institutions don't really focus on financial literacy, yet there are many
ways to be financially literate. All we have to have is to be goal driven and be willing to take risks while
we are on our way to financial literacy and stability.
Master in Business Administration
Reflection & Analysis Paper
By HgMt

Topic: Warren Buffet 7 Key Guidelines

Source: https://youtu.be/63oF8BOMMB8?si=cT18h-QwKPJaiovM

Warren Buffett is considered the greatest investor of all time, achieving returns that seem
unrealistic. He attributes his success to understanding what most people don't and sticking to a few key
principles that others can implement in their everyday lives. When hiring people, Buffett looks for
intelligence, initiative or energy, and integrity, as the latter is crucial to avoid hiring someone lazy and
dumb without integrity. Investors tend to behave in very human ways, getting excited during bull
markets and looking in the rearview mirror to make investment decisions. Buffett believes it's much
easier to buy wonderful businesses at a fair price than a fair business at a wonderful price. He has an
old-fashioned belief that he should expect to make money only in things that he understands, meaning
he understands what the economics of the business are likely to look like in the future. The biggest
mistakes Buffett has made are those of omission, not commission. He passed up on buying Fannie Mae
when it was in trouble, costing Berkshire at least $5 billion. Buffett believes it's essential to learn from
mistakes and resist the temptation to hide them from shareholders.
Warren Buffett has seven key guidelines for generating wealth in the stock market. (1) Refrain
from taking sides and focus instead on a company's inherent worth. Value investors who are searching
for high-quality but inexpensive companies have a lot of opportunities because of the emotional
disposition of many investors. (2) Obtain premium businesses at a reasonable cost. Even though you
can profitably purchase mediocre businesses at a significant discount, it is preferable to purchase
excellent companies at a reasonable cost. (3) Don't ever put money into companies you don't understand.
You need to know how the business will be financially positioned in ten or twenty years in order to
invest in it. (4) Don't pass up significant chances. The things Buffett knew enough to do but chose to
do nothing of were his biggest mistakes. (5) You have to grab the big chances.
Never sell shares due to changes in price. Retain excellent companies unless there's a
compelling reason to sell them, such as a need for funding or management issues. (6) Purchase shares
for less than their true value. Examine the intrinsic value of the company and purchase the stock only
if it is a good investment. (7) When others show greed, show fear, and when others show fear, show
greed. Share prices may fall during periods of fear among investors, which can present excellent value
investing opportunities. It is also true in reverse.
In conclusion, investors have to consider these 7 key guidelines to generate wealth in the stock
market. It will help the investors weigh and analyze the factors that might affect their investments and
provide a great opportunity in money-making in the said industry.