Day -8: MBA Journey_Preparing for class

Day of success spending as I scheduled to study and work on my tasks (almost).

Successes are...
1. Spent quality time based on my schedules
2. Great amount of inputs in many areas of study, Accounting, Marketing, Data Driven Decision Making (DDDM), Managerial Economics, some theories related to Cognitive Bias, Critical thinking, review is Economics and deeper understanding of my future career.

Challenges are...
1. Tend to lost concentration due to external factors - shuts down any notification and remind myself one thing at a time mindset when interrupted by other interest, unless it’s urgent.
2. Create opportunity to output my works - utilize this diary for output opportunity and do not try to write everything I learnt, but only critical matters or take aways.

Accounting:
Accounting is the process of organizing, analyzing and communicating financial information to support decision making.
 - Financial accounting measures the financial performance of an organization using standard conventions to prepare and distribute financial reports, especially for external institutions or individuals.
 - Managerial Accounting used both financial and non-financial information as a basis of making decision within an organization to set and evaluate goals.

Marketing:
Marketing is the action or business of promoting or selling products or services, including market research and advertising
 - 4 Ps that structure Marketing are
Product
Place
Promotion
Price

Data Driven Decision Making:
DDDM is a process that involves collecting data based on measurable goals or KPIs, analyzing patterns and facts from these insights, and utilizing them to develop strategies and activities that benefit the business in a number of areas.
 - It helps decision making not based on only experiences or hunch, but it provides logical and rational decision making in business through analyzing data, patterns and KPIs.

Managerial Economics:
Managerial Economics is the decline combines economic theory and managerial practices to understand and built business

New theories of Cognitive Bias:
Anchoring Effect
Peak End Effect
Duration Neglect
GJ Joe Fallacy

Critical Thinking
Critical thinking is the ability to think clearly and rationally, understanding the logical connections between ideas

Economics
Economics is about using scarce resources to achieve specific goal through making choices and decisions
 - Microeconomics: business or household making choices and decisions within scarce resources -> Managerial Economics has similar idea with this decline
 - Macroeconomics: country making choices and decisions within scarce resources

Understanding of myself and future career
Talent Development is building the knowledge, skills, and abilities of others and helping them develop and achieve their potential so that the organizations they work for can succeed and grow.
 - Take aways from “This Talk Will Change Your Life!” by Samineh Shaheem
  Stop relying on exclusively on external solution for all the solutions
  Success, satisfaction & growth comes from shifting your mindset from outward variables your rich and resourceful inner ecology
  Each one of us have ability to selfless and develop
  Self driven insights and solutions - use AWAKE method
  Be the “Expert” in your life

Dinner tonight: microwaved omelets with sliced onion, potatoes and garlic. Fried vegetables with carrots, cabbage, potatoes, onions and garlic seasoned with pepper, soy sauce and yogurt. I think yogurt was not a good choice as it became a bit watery. Perhaps when I make stew, it might add some flavour to it. 

Oh my god... just too long and it took me about 40 minutes to finish this diary. As I will not be able to take that much of my time after I officially begin my MBA program, I seriously need to shorten it. 

Yet for now, I get things done as I wanted to be and I can sleep well. Good night!