Ethical Decision-Making in Financial Planning through the Lens of Critical Thinking and Emotional Intelligence

 Instructions:

Reading and Viewing Materials:

  1. Readings:
    • Articles on critical thinking.
    • Articles on formalism vs. consequentialism.
    • “The Ones Who Walk Away from Omelas” by Ursula K. Le Guin.
  2. Viewing:
    • Daniel Goleman’s Primer on Emotional Intelligence.

Assignment Tasks:

Part 1: Emotional Intelligence vs. IQ

  • Summarize the key components of Emotional Intelligence (EQ) as outlined by Daniel Goleman. Compare and contrast EQ with Intelligence Quotient (IQ), focusing on their differences in decision-making and interpersonal relationships, particularly within the context of financial planning.
  • Discussion Points:
    • How does EQ influence ethical decision-making in financial planning practices?
    • The role of EQ in client relationships, trust-building, and conflict resolution compared to IQ.

Part 2: Ethical Analysis of “The Ones Who Walk Away from Omelas”

  • Analyze the short story using critical thinking tools and the ethical approaches of formalism and utilitarianism.
  • Identify and explain the characters or perspectives in the story that represent the formalist and utilitarian viewpoints.
  • Discuss how these ethical approaches are portrayed in the story and what they reveal about the moral dilemmas faced by the characters. Focus on how these dilemmas mirror the ethical challenges in financial planning, such as balancing fiduciary responsibilities with client needs and ethical considerations.

Part 3: Application to Real-World Financial Planning Scenarios

  • Apply the ethical theories of formalism and utilitarianism, as discussed in the analysis of the Omelas story, to a real-world scenario in financial planning.
  • Discussion Points:
    • How might a financial planner use these ethical frameworks to navigate moral dilemmas in financial planning?
    • Consider situations where financial obligations might conflict with ethical considerations, and how critical thinking and emotional intelligence can guide decision-making in such scenarios.

Submission Requirements:

  • Your submission should be at least 500 words in length.
  • Include citations from the readings, the story, and the video where appropriate.
  • Ensure your analysis is well-structured, with clear connections between the ethical theories, the story, and the financial planning context.

Evaluation Criteria:

  • Understanding of Emotional Intelligence and its comparison to IQ.
  • Depth of analysis in applying critical thinking tools and ethical approaches to “The Ones Who Walk Away from Omelas.”
  • Relevance and insightfulness in applying ethical theories to real-world financial planning scenarios.
  • Clarity, coherence, and organization of your writing.

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