Given that we are in a new year, I thought it might be nice to reflect on the past year. So today I want to share with you my favorite blog entries from 2011. I chose my top 10 for three categories: 1)innovation & creativity, 2) general business, and 3) life and happiness. Admittedly, the articles I […]
NOTE: This article was written a decade ago. The approach still works just fine, however there are newer and better tools that might be available for layout, transcription, or editing. I tried to note these in a few sections. I realize that book publishing does not directly relate to innovation. But I have had so […]
Which will help your business be more successful: statistics or probability? Underwriters at insurance companies use statistics to assess future risks. This is based on years of collected data. Probability is what card counters in Vegas use to increase their odds of success. This is based on real-time, real-life experience. If you want to play […]
When I conduct executive training, one of my favorite activities requires participants to consider a typical set of processes common in the insurance industry: Develop Products and Services, Customer Service, Manage Revenues, Manage Distribution Channels, Market Products and Services, Underwriting, Claims Fulfillment, Manage Provider Network, and Plan and Manage the Enterprise. I ask the group […]
Back in the 1980’s, executives used to joke that you would never get fired for buying “Big Blue” (IBM) computers. It’s not that IBM was the best, but you knew they would not screw up. When I worked for Accenture (then Andersen Consulting), the Economist once called us “The McDonalds of the consulting industry. You […]
Much literature has been written on branding. But what is a brand? Can you define it in just 6 words? No, it is not Nike’s “swoop.” It is not McDonald’s “I’m Lovin’ It” jingle. It is not Accenture’s Tiger Woods ads. It is not the design of my website or my “Unconventional Thinking” tag line. […]
Imagine the following situation. You are single and live in New Jersey just outside of New York City (NYC). Your employer wants you to work in London for a few years. You are excited about the possibility of living overseas and are interested in the job. Assuming that the costs of living for New Jersey […]
Once again we explore the power of language. This one was given to me by Michael Wiederman, Professor of Psychology at Columbia College. Imagine that you serve on the jury of an only-child custody case following a relatively messy divorce. The facts of the case are complicated by ambiguous economic, social, and emotional considerations. Therefore […]
In two previous blog entries, (#1 and #2), I discussed the psychology behind risk taking. In particular, I explored why people take risks to minimize losses, yet play it safe when it comes to increasing gains. In this blog entry, I discuss a number of implications of this mindset. Here are 10½ – potentially irrational […]
In an earlier blog entry, I discuss the power of language. I want to explore this a bit further today. Here’s my variation of the “Asian disease problem” mentioned in that earlier blog entry: Which would you prefer? OPTION 1: A guaranteed gain of $75,000? OPTION 2: An 80% chance of gaining $100,000 with a […]
