Description
Using the Edward DeBono's Six Thinking Hat's format create a PowerPoint presentation outlining each hat perspective on the business problem below, Also include the team consensus.
You have the opportunity to purchase a piece of property for $500,000. If it can be
rezoned for business use, you will be able to immediately resell the property
for about $750,000. You estimate that there is a 60% chance that your rezone
request will be successful. Should the team approve the purchase of the property?
Explanation & Answer
Kindly let me know whether you need any corrections
Student’s Name
Institution
WHITE HAT
It analyzes existing information of the problem.
There is a huge opportunity to cash a property with huge returns.
The economic conditions are favorable for investment decisions.
Steady growth of this property is expected and the reselling can be
pushed to later date.
The probability of rezoning the property for business is high and a
profit of $250,000 is expected.
RED HAT
The opportunity to buy the property is unreal.
The statistics of reasoning the property for business use might
be misleading.
Economic conditions have fluctuated recently and expecting to
stabilize involves risks.
The whole idea looks good to be true.
BLACK HAT
Economic predictions of stability might be wrong.
Incase of an economic downturn, the property might not be
rezoned for business.
The property might be deemed unproductive for business.
Changing tastes and brands might require a renovation to be done
on the property to make it attractive.
The resell value of the property might fall.
The 60% chance might not be the case.
YELLOW HAT...
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