The theory of comparative advantage In 1817 the economist David Ricardo developed the theory of comparative advantage. It explains why nations trade. He gave this example to explain it: Scenario 1. Imagine the economy consists of two countries that produce both cloth and wine; Portugal and England. Though their output is of equal quality, Portugal is […]
I See You
Recognition Connectivity between human beings is the beginning of synergy. It is written in our genetic code and expresses itself in our drive to join with others and be part of a group. This is how we are wired. It makes sense that the most effective management styles leverage this aspect of our species’ psyche. I […]
The Burden
We all carry a mental burden A burden of things we worry about: We worry about our pension We worry about where we are going to get lunch from We worry about buying a present for our mother’s birthday We worry about our next performance appraisal We worry about.. I think you get the gist… […]
Preventable Harm
A definition: The unintended physical injury resulting from or contributed to by medical care (including the absence of indicated medical treatment), that requires additional monitoring, treatment or hospitalisation, or that results in death. A simpler definition: A medical accident. A few statistics: The medical industry 2014: The estimated number of premature deaths in US hospitals […]
Synergy
A great management word We love to talk about synergies, it is a super word, hard and scientific. It gives the impression that we know what we are doing. That we are in control. Synergy: the creation of a whole that is greater than the sum of the parts What drives synergy? If synergy is […]
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