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Blindspots
Blindspots analysis or blind spots analysis is a method aimed at uncovering obsolete, incomplete, or incorrect assumptions in a decision maker’s mental scheme of the environment. Michael Porter used the term "blind spots" to refer to conventional wisdom which no longer holds true, but which still guides business strategy. The concept was further popularized by Barbara Tuchman, in her book ''The March of Folly'' (1984), to describe political decisions and strategies which were clearly wrong in their assumptions, and by other authors since, such as social psychologists Mahzarin Banaji and Anthony Greenwald in their study of prejudice. Uncovering blind spots Ben Gilad fully developed, in his book, ''Business Blindspots'' (1994), the following three-step "Gilad method" for uncovering blind spots #''Step One'': Conducting a Five Forces Analysis on a given industry or segment (market), augmented with identification of possible change drivers, which are defined as trends with the potent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competitive Intelligence
Competitive intelligence (CI) is the process and forward-looking practices used in producing knowledge about the competitive environment to improve organizational performance. It involves the systematic collection and analysis of information from multiple sources, and a coordinated CI program. It is the action of defining, gathering, analyzing, and distributing intelligence about products, customers, competitors, and any aspect of the environment needed to support executives and managers in strategic decision making for an organization. CI means understanding and learning what is happening in the world outside the business to increase one's competitiveness. It means learning as much as possible, as soon as possible, about one's external environment including one's industry in general and relevant competitors. Key points # Competitive intelligence is a legal business practice, as opposed to industrial espionage, which is illegal. # The focus is on the external business environme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Porter
Michael Eugene Porter (born May 23, 1947) is an American academic known for his theories on economics, business strategy, and social causes. He is the Bishop William Lawrence University Professor at Harvard Business School, and he was one of the founders of the consulting firm The Monitor Group (now part of Deloitte) and FSG, a social impact consultancy. He is credited for creating Porter's five forces analysis, which is instrumental in business strategy development at present. He is generally regarded and hailed as the father of the modern strategy field. He is also regarded as one of the world's most influential thinkers on management and competitiveness as well as one of the most influential business strategists the world has ever seen. He is the most sought after research scholar and his work has been highly recognised by governments, non governmental organisations and universities. Early life Michael Porter's father was a civil engineer and Georgia Tech graduate who had g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conventional Wisdom
The conventional wisdom or received opinion is the body of ideas or explanations generally accepted by the public and/or by experts in a field. In religion, this is known as orthodoxy. Etymology The term is often credited to the economist John Kenneth Galbraith, who used it in his 1958 book '' The Affluent Society'':''E.g.,'Mark Leibovich, "A Scorecard on Conventional Wisdom", ''N.Y. Times'' (March 9, 2008) However, the term dates back to at least 1838. ''Conventional wisdom'' was used in a number of other works before Galbraith, occasionally in a benign''E.g.,'1 Nahum Capen, ''The History of Democracy'' (1874), page 477("millions of all classes alike are equally interested and protected by the practical judgment and conventional wisdom of ages"). or neutral''E.g.,'"Shallow Theorists", ''American Educational Monthly'' 383 (Oct. 1866)("What is the result? Just what conventional wisdom assumes it would be."). sense, but more often pejoratively.''E.g.,'Joseph Warren Beach, ''The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barbara Tuchman
Barbara Wertheim Tuchman (; January 30, 1912 – February 6, 1989) was an American historian and author. She won the Pulitzer Prize twice, for ''The Guns of August'' (1962), a best-selling history of the prelude to and the first month of World War I, and '' Stilwell and the American Experience in China'' (1971), a biography of General Joseph Stilwell. Tuchman focused on writing popular history. Early years Barbara Wertheim was born January 30, 1912, the daughter of the banker Maurice Wertheim and his first wife Alma Morgenthau. Her father was an individual of wealth and prestige, the owner of ''The Nation'' magazine, president of the American Jewish Committee, prominent art collector, and a founder of the Theatre Guild.Oliver B. Pollack, "Barbara W. Tuchman (1912–1989)," in Paula E. Hyman and Deborah Dash Moore (eds.), ''Jewish Women in America: An Historical Encyclopedia: Volume II, M–Z.'' New York: Routledge, 1997; pp. 1414–1416. Her mother was the daughter of Henry ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mahzarin Banaji
Mahzarin Rustum Banaji FBA (born 1956) is an American psychologist of Indian origin at Harvard University, known for her work popularizing the concept of implicit bias in regard to race, gender, sexual orientation, and other factors. Education and career She was born and raised in Secunderabad to a Parsi family, where she attended St. Ann's High School. Her BA degree is from Nizam College, and her MA degree in psychology from Osmania University in Hyderabad. In 1986, Banaji received a PhD from The Ohio State University and was an NIH postdoctoral fellow at University of Washington. From 1986 to 2001, she taught at Yale University, where she was Reuben Post Halleck Professor of Psychology. In 2001, she moved to Harvard University as Richard Clarke Cabot Professor of Social Ethics in the Department of Psychology. She also served as the first Carol K. Pforzheimer Professor at the Radcliffe Institute for Advanced Study from 2002 to 2008. In 2005, Banaji was elected fellow of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anthony Greenwald
Anthony Galt Greenwald is a social psychologist and, since 1986, professor of psychology at University of Washington. In 1959, Greenwald received a B.A. from Yale University. In 1961, he received a M.A. from Harvard University, and in 1963, he completed his Ph.D., also at Harvard. After that, he completed a postdoctoral fellowship that lasted from 1963 to 1965 at the Educational Testing Service. Greenwald started teaching in 1965 as an assistant professor in the psychology department at Ohio State University, which continued until 1986. During that time, he was an associate editor for the ''Journal of Personality and Social Psychology'', from 1972 to 1976, before becoming the editor in 1977. From 2001 to 2005, Greenwald was the associate editor of ''Experimental Psychology''. Awards Greenwald has been recognized with a variety of significant awards, including the Donald T. Campbell Award from the Society for Personality and Social Psychology in 1994, Research Scientist Aw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prejudice
Prejudice can be an affective feeling towards a person based on their perceived group membership. The word is often used to refer to a preconceived (usually unfavourable) evaluation or classification of another person based on that person's perceived political affiliation, sex, gender, gender identity, beliefs, values, social class, age, disability, religion, sexuality, race, ethnicity, language, nationality, culture, complexion, beauty, height, body weight, occupation, wealth, education, criminality, sport-team affiliation, music tastes or other personal characteristics. The word "prejudice" can also refer to unfounded or pigeonholed beliefs and it may apply to "any unreasonable attitude that is unusually resistant to rational influence". Gordon Allport defined prejudice as a "feeling, favorable or unfavorable, toward a person or thing, prior to, or not based on, actual experience". Auestad (2015) defines prejudice as characterized by "symbolic transfer", transfe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Porter Five Forces Analysis
Porter's Five Forces Framework is a method of analysing the operating environment of a competition of a business. It draws from industrial organization (IO) economics to derive five forces that determine the competitive intensity and, therefore, the attractiveness (or lack thereof) of an industry in terms of its profitability. An "unattractive" industry is one in which the effect of these five forces reduces overall profitability. The most unattractive industry would be one approaching "pure competition", in which available profits for all firms are driven to normal profit levels. The five-forces perspective is associated with its originator, Michael E. Porter of Harvard University. This framework was first published in ''Harvard Business Review'' in 1979. Porter refers to these forces as the microenvironment, to contrast it with the more general term macroenvironment. They consist of those forces close to a company that affects its ability to serve its customers and make a pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cognitive Bias
A cognitive bias is a systematic pattern of deviation from norm (philosophy), norm or rationality in judgment. Individuals create their own "subjective reality" from their perception of the input. An individual's construction of reality, not the Objectivity (philosophy), objective input, may dictate their behavior in the world. Thus, cognitive biases may sometimes lead to perceptual distortion, inaccurate judgment, illogical interpretation, or what is broadly called irrationality. Although it may seem like such misperceptions would be aberrations, biases can help humans find commonalities and shortcuts to assist in the navigation of common situations in life. Some cognitive biases are presumably adaptive. Cognitive biases may lead to more effective actions in a given context. Furthermore, allowing cognitive biases enables faster decisions which can be desirable when timeliness is more valuable than accuracy, as illustrated in heuristics in judgment and decision-making, heuristic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cognitive Dissonance
In the field of psychology, cognitive dissonance is the perception of contradictory information, and the mental toll of it. Relevant items of information include a person's actions, feelings, ideas, beliefs, values, and things in the environment. Cognitive dissonance is typically experienced as psychological stress when persons participate in an action that goes against one or more of those things. According to this theory, when two actions or ideas are not psychologically consistent with each other, people do all in their power to change them until they become consistent. The discomfort is triggered by the person's belief clashing with new information perceived, wherein the individual tries to find a way to resolve the contradiction to reduce their discomfort.Festinger, L. (1957). ''A Theory of Cognitive Dissonance''. California: Stanford University Press. In '' When Prophecy Fails: A Social and Psychological Study of a Modern Group That Predicted the Destruction of the World' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Halo Effect (book)
''The Halo Effect'' is a book by business academic Phil Rosenzweig that criticizes pseudoscientific tendencies in the explanation of business performance. The book was published by Free Press on February 6, 2007. As well as many business magazines and newspapers, the text targets specific books (those that offer secrets of guaranteed business success) and academic research published by business schools. It outlines nine "delusions": mistakes of reasoning that undermine these recipes for business success. In light of these mistakes, Rosenzweig argues, much of business writing is what Richard Feynman called "cargo cult science", having the superficial trappings of science but operating at the level of story-telling. The book also considers some more scientific business research, whose conclusions are more rigorous but do not promise a simple recipe for success. The subtitle of the 2007 US edition is "and the Eight Other Business Delusions that Deceive Managers" while that of the 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bias Blind Spot
The bias blind spot is the cognitive bias of recognizing the impact of biases on the judgment of others, while failing to see the impact of biases on one's own judgment. The term was created by Emily Pronin, a social psychologist from Princeton University's Department of Psychology, with colleagues Daniel Lin and Lee Ross. The bias blind spot is named after the visual blind spot. Most people appear to exhibit the bias blind spot. In a sample of more than 600 residents of the United States, more than 85% believed they were less biased than the average American. Only one participant believed that they were more biased than the average American. People do vary with regard to the extent to which they exhibit the bias blind spot. This phenomenon has been successfully replicated and it appears that in general, stronger personal free will beliefs are associated with bias blind spot. It appears to be a stable individual difference that is measurable. The bias blind spot appears to be a t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
