We recently became aware of a rather interesting research graphic. It bears the title of “Without Fail”. But Is there a simple way to turn failure into success? We present it below, followed by our comments and suggestions. Source: OnlineMBAToday.com The graphic starts by stating that 90% of business startups fail and 42% of those failures are actually due to lack of market for their products. Additionally I’d like to say, botched plans. No big surprise here, these numbers are “known”…
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Cyber security is a relatively new subject in businesses management. It first emerged in the 80ies with password guessing, featured in movies like Wargame with the rudimentary attack sophistication of those times. But Should you listen to your insurer for your business cyber risk management? The attack sophistication increased gradually. By the end of 2000, elaborate hacking devices (Stuxnet worm) that could only be issued by cooperating military forces were born. To date no state has officially claimed ownership. However anonymous…
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Project risks budget exceedance used as a rejecting argument by activists popped on our radar-screen a few days ago. Indeed we recently read an article stating that Environmentalists want the Ontario government (Canada) to abandon plans for a $13-billion refurbishment of four nuclear reactors at the Darlington generating station. We could not help but to remember a post we wrote about mega projects and the numerous cognitive biases that flaw our human reasoning. Indeed poorly made risk assessments, foster internal and…
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In December 2015 we looked at uncertainty taxonomy, resulting epistemological and ontological approaches to risk, all the way to intuition. Some readers have asked for an example helping to differentiate intuition from the other approaches. We all experienced driving a car at night. Certainly everyone recognizes the usefulness of our cockpit instruments informing us on various functional and hazard parameters. At night we lit the cockpit and we use the front light to ‘see’ ahead. Then we make decisions. Our…
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