(Roughly) Daily

Posts Tagged ‘planning

“Efficiency is doing things right; effectiveness is doing the right things.”*…

 

Feed-Efficiency-4a

Eliminating waste sounds like a reasonable goal. Why would we not want managers to strive for an ever-more-efficient use of resources? Yet as I will argue, an excessive focus on efficiency can produce startlingly negative effects, to the extent that superefficient businesses create the potential for social disorder. This happens because the rewards arising from efficiency get more and more unequal as that efficiency improves, creating a high degree of specialization and conferring an ever-growing market power on the most-efficient competitors. The resulting business environment is extremely risky, with high returns going to an increasingly limited number of companies and people—an outcome that is clearly unsustainable. The remedy, I believe, is for business, government, and education to focus more strongly on a less immediate source of competitive advantage: resilience. This may reduce the short-term gains from efficiency but will produce a more stable and equitable business environment in the long run…

Roger Martin‘s eloquent argument for a longer-term perspective and for robustness as a primary goal: “The High Price of Efficiency.”

[image above: source]

* Peter Drucker

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As we take the long view, we might recall that it was on this date in 2000 that Alan Greenspan was nominated for his fourth term as Chairman of the Federal Reserve.  An accolyte of Ayn Rand, he oversaw an “easy money” Fed that, many suggest, was a leading cause of the dotcom bubble (which began later that year) and the subprime mortgage crisis, (which led to the Great Recession, and which occurred within a year of his departure from the Fed).

220px-Alan_Greenspan_color_photo_portrait source

 

Written by LW

January 4, 2019 at 1:01 am

“History never really says goodbye. History says, ‘See you later.'”…

 

tiger

Surprised! Henri Rousseau, 1891

In An Autobiography, published in 1939, R.G. Collingwood offered an arresting statement about the kind of insight possessed by the trained historian. The philosopher of history likened the difference between those who knew and understood history and those who did not to that between ‘the trained woodsman’ and ‘the ignorant traveller’ in a forest. While the latter marches along unaware of their surroundings, thinking ‘Nothing here but trees and grass’, the woodsman sees what lurks ahead. ‘Look’, he will say, ‘there is a tiger in that grass.’

What Collingwood meant was that, through their familiarity with people, places and ideas, historians are often equipped to see how a situation might turn out – or at least identify the key considerations that determine matters. Collingwood’s musings implied an expansive vision of the role historians might play in society. Their grasp of human behaviour, long-term economic or cultural processes and the complexities of the socio-political order of a given region of the world meant that they could be more than just a specialist in the past. By being able to spot the tiger in the grass, historians might profitably advise on contemporary and future challenges as well…

Can the study of the past really help us to understand the present?  Robert Crowcroft argues that it can: “The Case for Applied History.”

* Eduardo Galeano

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As we look to the past, we might spare a thought for Martha; she died on this date in 1914.  As she was the last known passenger pigeon, her death meant the extinction of the species.

(De-extinction efforts are underway.)

Martha

 source

 

Written by LW

September 1, 2018 at 1:01 am

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