1. Unit VII Journal Instructions Identify an example of a management
Unit VII JournalIdentify an example of a management scenario from your own experiences
or current events involving adverse selection or moral hazard. Describe some methods to
correct the potential problems of the asymmetric information.Your journal entry must be at
least 200 words in length. No references or citations are necessaryUnit VIII JournalPart I:
Describe an example you have experience with of the principal-agent problem (for example,
you have a desire for your children to listen in school and do well, while for them, goofing
off at school might be much more fun), and explain how incentives can be used to overcome
the principal-agent problem (such as paying your children for good grades). Include in your
explanation an analysis of the risks in using incentives.Part II: How will you be able to apply
what you learned in this course to your current or future work?Your journal entry must be
at least 200 words in length. No references or citations are necessary