1. Decision Making Magic
Good decisions lead to the
achievement of goals & a feeling of
self-control & self confidence
Good decisions are a key to successful
independent living
2. Decision Making Magic
Following logical steps when making
decisions helps individuals make
informed choices
When decisions are made from habit
or on impulse, there is a greater
likelihood of negative outcomes
14. Cultural factors
Cultural - related to the
traditions, beliefs, roles, & communication
styles of a group
Cultural and ethnic groups impact
Values – fundamental beliefs or practices
about what is desirable, worthwhile, &
important
Beliefs
Lifestyle
Family structures
Clothing choices
15. Social factors
Education level
Family structure
Immigration
Ethnicity
Rural, urban, suburban
community
Peer pressure
Community relationships
and involvement
16. Societal and demographic
factors Demography is the
statistical characteristics of a
population
Age
Sex
Race
Birth, marriage, death
rates
17. Economic factors
Employment rate
Kind and number of jobs available
Inflation
A period of rapid increase in the price of
goods and services
Recession
An extended period of slow economic
growth
Government Regulations
Fiscal policies affect personal & business
spending
18. Technology
The use of mechanical or
electronic devices to manipulate
Information (Ie. Computers,
Ipads, Fax machines, fiber optics,
GPS systems)
Objects (i.e Robots, automated
assembly lines, hybrid cars)
On going change impacts
Training needs
Replacing obsolete technology
Types of jobs available
19. The Media
Media
Communications that reach large
audiences with the aid of publication
devices that include
Internet
Television
Voice, text, & data transmissions
Publications
Impacts the ways people and
businesses communicate and operate
locally, nationally, and globally.
20. The Marketplace
Supply
Goods and services available to
the consumer
Demand
Consumer desire to purchase as
compared to availability
Market response
How quickly the market adjusts to
supply versus demand
21. Legal and moral factors
Laws that impact spending
Taxation
Investment and Retirement
Accounts
Insurance requirements
Beliefs in what is right and
wrong
What is appropriate behavior of
employers, employees, and
individuals at home, work, and within
the community.
Charitable giving and Service
22. Personal factors
Needs
Items to survive – food, clothing, & shelter
Wants
Not essential but desirable – cell phone, Music
CDs,
Values
A person’s belief about what is important and
desirable
Standards
Measures of quality or excellence – with regard
to standards for success, individuals have
different views of what it means to be
successful
Priorities
Each individual or family needs to set priorities
by deciding what is more important at any point
in time