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Hub You - Business Logic; Bad Logic, Poor Business
The global trade market demonstrated signs of stability after the police authorities intercepted the bombing threats on airplanes traveling between America and the United Kingdom. American investors, which supports Asian commerce, disregarded concerns after global trade analysts stated that the impact of the recent crisis will not last long. However, security measures are still being applied on both local and foreign flights on airlines based on the US.The said bomb scare, which was planned to destabilize the global trade, barely affected the Financial Times Stock Exchange Author
In one organisation I have seen good market research which was carried out annually for ten years demonstrating clearly that the single channel strategy of the organisation was causing a decline in volumes of an average of 7.5% per annum as other channels blossomed. It also containe
1. In this age of technology a CV put together on an old typewriter and sent ‘snail mail’ is not enough. A Web CV is simply a copy of your CV produced on a web page that can be accessed via the Internet rather than held on your PC at home. It is an ideal addition to your job hunting toolkit if you intend to spend any time away from your PC.2. Imagine being away for the weekend, whether on a wild trip to Amsterdam or a cosy hotel in Paris. You pop into an Internet caf? to find the nearest Italian restaurant and browse the web to use up the rest of your pre-paid time. You come acro
Fallacies in logic in a journal or newspaper or a conversation between people creates frustration and perhaps heated discussion. Fallacies in logic in business create a bad business.
A simple fallacy that occurs when market research is poorly interpreted is to argue from selected observation. Data from a handful of people is interpreted as being representative of a whole population. This happens frequently when the boss has a pet theory about the market, commissions some market research and concentrates their argument on the few pieces of data which support their argument.
The impact of business decisions being made from selected observations is to put the marketing campaign or the entire company at a risk equivalent to deciding by "gut feel". Some leaders have a great gut feel for their business and the businesses thrive on it. Most of us, however, actually need information to make logical decisions.
In one organisation I have seen good market research which was carried out annually for ten years demonstrating clearly that the single channel strategy of the organisation was causing a decline in volumes of an average of 7.5% per annum as other channels blossomed. It also contained
Just now a student got his graduate degree. He is now officially a doctor. In the same moment, a doctor performed his umpteenth operation successfully. Both hold only a graduate degree. Whom would you consider more skilled?Just now a student got his degree. He is now officially a mechanical engineer. In the same moment, a mechanical engineer was part of a team working out the aerodynamics of a new concept in car design. Whom do you consider more competent?Apply the same concept to your recruitment, will you? Just now there are two aspirants waiting outside your room. One of
Fallacies in logic in a journal or newspaper or a conversation between people creates frustration and perhaps heated discussion. Fallacies in logic in business create a bad business.
A simple fallacy that occurs when market research is poorly interpreted is to argue from selected observation. Data from a handful of people is interpreted as being representative of a whole population. This happens frequently when the boss has a pet theory about the market, commissions some market research and concentrates their argument on the few pieces of data which support their argument.
The impact of business decisions being made from selected observations is to put the marketing campaign or the entire company at a risk equivalent to deciding by "gut feel". Some leaders have a great gut feel for their business and the businesses thrive on it. Most of us, however, actually need information to make logical decisions.
In one organisation I have seen good market research which was carried out annually for ten years demonstrating clearly that the single channel strategy of the organisation was causing a decline in volumes of an average of 7.5% per annum as other channels blossomed. It also containe
A crisis can be a powerful impetus to your company’s short and long term survival. Contrast these two separate incidents involving world renowned products.In the fall of 1982 , seven people died after taking Johnson and Johnson’s Extra-Strength Tylenol capsules that been laced with cyanide.Guided by the company’s credo that the focus of its company was its customers the CEO set on a course of alerting the public to the dangers and recalled 31 million bottles of the product , at a cost of then $ 100 million .The company told customers that it would stop production un
The impact of business decisions being made from selected observations is to put the marketing campaign or the entire company at a risk equivalent to deciding by "gut feel". Some leaders have a great gut feel for their business and the businesses thrive on it. Most of us, however, actually need information to make logical decisions.
In one organisation I have seen good market research which was carried out annually for ten years demonstrating clearly that the single channel strategy of the organisation was causing a decline in volumes of an average of 7.5% per annum as other channels blossomed. It also containe
We needed more money. That was an accepted fact. We were both retired and the cost of the insurance AND the co-pays on the medications was overwhelming us. The rent keeps going up as well as the cable (with our internet connections) and everything else was too. Now, gas is costing $3+ per gallon! Yup! We needed more money coming in. So I decided to see if I could do ‘something’ on the internet.My first adventure was ‘surveys’. That went over about as well as a frog in a flight suit! I would fill them out and click submit and the only things I got was a sweepstakes entry or a ‘promi
In one organisation I have seen good market research which was carried out annually for ten years demonstrating clearly that the single channel strategy of the organisation was causing a decline in volumes of an average of 7.5% per annum as other channels blossomed. It also containe
For many corporations change management is a time of controversy and chaos and yet it need not be. Is all change management like this? No, those teams that understand change management also understand smooth transitions and they also understand the shadowing of those that are leaving and fostering of those who will be remaining in the division or department.The biggest issues in change management occur with abrupt changes such as a death or a resignation due to a dispute. Often with this there are hard feelings on the way out and that disrupts the communication change and you mi
In one organisation I have seen good market research which was carried out annually for ten years demonstrating clearly that the single channel strategy of the organisation was causing a decline in volumes of an average of 7.5% per annum as other channels blossomed. It also contained some data which showed that the new channels had a lower sell out price.
The argument was that the lower sell out price would reduce profit whilst the lower volume from the single channel strategy was ignored. Only the information which justified the status quo was ever used out of the data.
Another fallacy common in business is internal contradiction. This clearly occurs with the topic of company values. That is, we have company values but leaders do not have to portray them. It also occurs with strategy and tactics.
For example, the statement, "Our strategy is to grow the market through an aggressive marketing and sales campaign and to dominate the new market we create" on page five of a corporate plan, followed on page ten with no increase in advertising costs, marketing costs or sales costs and no other plan to increase productivity of sales either. Growing the market aggressively without some increase in sales costs or sales productivity is not believable.
Another favourite of mine is argument by slogan. The most common one I hear is "best practice". The CEO announces "We are adopting best practice in the area of corporate governance; therefore we need to increase the remuneration of
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