User:P.wood

My (new) 'scrapbook' of thoughts & ideas on business related topics.

Things to sort out
Jevons Paradox is an interesting economic explanation for recent trends in commodities prices being driven by demand increases seen in developing countries such as China & India.

Stakeholders = "anyone that can ruin your day" Positive feedback loops can alter a persons behaviour, reward a behaviour and you'll reinforce it. Organisations which put individual needs first cannot compete with those which members put organization needs first.

Personality comes from 60% Inherited 25% Environment 15% Other By six years of age board personality traits are apparent Organisations simply offer Structures, Processes & Relationships to aid people get things done Organisational design is simply deciding where you want to manage tension On Leadership: People should know what you stand for and you must send out simple and clear messages else everyone gets confused.

Strategy is simply about making choices

Arrogance = Self confidence without tact "Be yourself more with skill" London Business School Quote

Empathy is about understanding how it is to be in other people's position.

How do you feel today

Technical Stuff
SPE papers 103501 & 101517 cover PVT analysis very well.

Leadership
I see leadership as providing others with direction towards a goal or objective and the resources they require to get there.

Perhaps too formulaic for some but it helps me! Behaviour = Function (Person, Environment) Where: Person = personality, skills, experience Environment = reward, promotion systems, coaching

Career Success = IQ * EI * WP Where: IQ = Intelligence Quotient EI = Emotional Intelligence WP = Will Power

Culture = Artefacts + Values + Beliefs + Assumptions

Data + Analysis       => Information Information + Analysis => Insight Insight + Experience  => Wisdom Wisdom + Resource     => Business Tough Empathy's an interesting style for those with an INTJ profile

Decisions & Uncertainty
Ladder of Inference Collect Data => Filter => Meaning => Assumptions => Conclusions => Beliefs => Actions

Donald Rumsfeld nicely captured uncertainty in a quote on Iraq which works out like this:

known knowns    - things we know that we know known unknowns  - things we know we don't know unknown unknowns - things we don't know we don't know unknown knowns  - things we don't know that others do know

A decision is made under risk when the probabilities involved are objectively known, i.e. probabilities are agreed by rational economic agents; whereas

A decision is made under uncertainty when the probabilities involved are subjective beliefs of the decision maker, i.e. rational agents can disagree about them.

Thus, under Knight’s schema [] “risk” is “randomness with knowable probabilities”, whereas “uncertainty” is “randomness with unknowable probabilities”.

Frameworks
The following have helped me:
 * 1) Leaderhship: The Leadership Character Model shows Integrity balancing Responsibility with Respect. Jean-Claude Juncker once said that "the difficulty for politicians is that we all know what has to be done, we just don't know how to get elected after doing it."
 * 2) Personalities: Myers-Briggs can be helpful in understanding different. I'm an INTJ
 * 3) Teams: Forming, Storming, Norming & Performing

Empowerment
"A good leader empowers his/her cowrokers. Empowered workers are committed and loyal. They find meaning in their work, as well as a sense of community. they feel that they are making a difference in the company or institution. How does one empower, or motivate, coworkers? By delegating as much and as often as feasible. By frequent expressions of gratitude, support and encouragement."

Wiki Formating
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