Blog
Sunk Cost Fallacy in Business Strategy
There is something dangerously comforting about sticking with a decision, even when it no longer makes sense. The time, money, or effort already invested creates a sense of obligation to see it through. That feeling of obligation often gets dressed up as perseverance or discipline. In reality, it is the sunk cost fallacy. The Illusion
Business Quotes by John P. Kotter
“A culture truly changes only when a new way of operating has been shown to succeed over some minimum period of time.” “A guiding coalition made up only of managers—even superb managers who are wonderful people—will cause major change efforts to fail.” “A guiding coalition with good managers but poor leaders will not succeed. A
Capability Maturity Model Integration
Capability Maturity Model Integration (CMMI) is a process excellence framework. It helps organizations improve and manage operations to achieve efficient, repeatable, and predictable output. What is Capability Maturation Model Integration The model was initially developed in 1987 as the Capability Maturity Model (CMM) by Carnegie Mellon University’s Software Institute, in partnership with the US Government.
Business Quotes by Taiichi Ohno
“All we are doing is looking at the time line, from the moment the customer gives us an order to the point when we collect the cash. And we are reducing that time line by removing the non-value-adding wastes.” “Ask ‘why’ five times about every matter.” “Costs do not exist to be calculated. Costs exist
Bell Curve Statistics
The Bell Curve graph is a powerful way to render a symmetrical depiction of a probability distribution. The data used relies on statistics, a fascinating part of mathematics. Statistical analysis is used to calculate the distribution of a particular event and calculations provide the probability of such event. Probability Distribution Concepts Let us assume that
Business Quotes by Winston Churchill
“A fanatic is one who can’t change his mind and won’t change the subject.” “A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty.” “An appeaser is one who feeds a crocodile, hoping it will eat him last.” “Attitude is a little thing that makes a big difference.” “Character
Why Are You Missing Your Sales Goals?
Your sales volume is off-target and going in the wrong direction. Are you asking the right questions to reverse the trend? Few topics have been covered as often, and by as many experts, as sales performance and, yet, many executives are challenged when their sales teams underperform. Troubleshooting the sales process Your sales team didn’t