1.Describe a planning effort that you are acquainted with (either through reading or personal experience), and evaluate how the benefits and pitfalls of planning described in the chapter were manifest in that case. That is to say, you should explain how, if at all, the benefits of planning described in the text were manifest in your case. Similarly, you should identify any of the significant pitfalls of planning that might have been manifest in your case. Comment on the extent to which your case seems to substantiate or refute the claims made for the benefits and pitfalls of planning, as described in the text.
2.Cheryl Trump, of New York City, is the daughter of a well-known financier. She is currently in her first year of college, but has decided that she definitely wants to earn an MBA, as soon as possible after earning her four-year college degree. Outline the five steps in effective planning. Use the guidelines for effective planning to develop an appropriate plan for Cheryl.