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Opportunity Management
Opportunity management (OM) has been defined as "a process to identify business and community development opportunities that could be implemented to sustain or improve the local economy". Opportunity management is a collaborative approach for economic and business development. The process focuses on tangible outcomes. Opportunity management may result in interesting and motivating projects that help improve teamwork. Its three components are #generating ideas, #recognizing opportunities, and #driving opportunities. Risk Risk management can be described as the process of proactively working with stakeholders to minimise the risks and maximise the opportunity associated with project decisions. Risks are about the possibility of an adverse consequence. Good risk management does not have to be expensive or time consuming but relies on adaptability in response to change. Risk management ensures that an organization identifies and understands the risks to which it is exposed. Or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Development
Business development entails tasks and processes to develop and implement growth opportunities within and between organizations. It is a subset of the fields of business, commerce and organizational theory. Business development is the creation of long-term value for an organization from customers, markets, and relationships. Business development can be taken to mean any activity by either a small or large organization, non-profit or for-profit enterprise which serves the purpose of ‘developing’ the business in some way. In addition, business development activities can be done internally or externally by a business development consultant. External business development can be facilitated through Planning Systems, which are put in place by governments to help small businesses. In addition, reputation building has also proven to help facilitate business development. Overview In the limited scholarly work available on the subject, business development is conceptualized as or relate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Abductive Reasoning
Abductive reasoning (also called abduction,For example: abductive inference, or retroduction) is a form of logical inference formulated and advanced by American philosopher Charles Sanders Peirce beginning in the last third of the 19th century. It starts with an observation or set of observations and then seeks the simplest and most likely conclusion from the observations. This process, unlike deductive reasoning, yields a plausible conclusion but does not positively verify it. Abductive conclusions are thus qualified as having a remnant of uncertainty or doubt, which is expressed in retreat terms such as "best available" or "most likely". One can understand abductive reasoning as inference to the best explanation, although not all usages of the terms ''abduction'' and ''inference to the best explanation'' are exactly equivalent. In the 1990s, as computing power grew, the fields of law, computer science, and artificial intelligence researchFor examples, seeAbductive Inference i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Empowerment
Empowerment is the degree of autonomy and self-determination in people and in communities. This enables them to represent their interests in a responsible and self-determined way, acting on their own authority. It is the process of becoming stronger and more confident, especially in controlling one's life and claiming one's rights. Empowerment as action refers both to the process of self-empowerment and to professional support of people, which enables them to overcome their sense of powerlessness and lack of influence, and to recognize and use their resources. As a term, empowerment originates from American community psychology and is associated with the social scientist Julian Rappaport (1981). However, the roots of empowerment theory extend further into history and are linked to Marxist sociological theory. These sociological ideas have continued to be developed and refined through Neo-Marxist Theory (also known as Critical Theory). In social work, empowerment forms a practica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Community Economic Development
Community economic development (CED) is a field of study that actively elicits community involvement when working with government, and private sectors to build strong communities, industries, and markets. It includes collaborative and participatory involvement of community dwellers in every area of development that affects their standard of living. Community economic development encourages using local resources in a way that enhances economic opportunities while improving social conditions in a sustainable way. It equally facilitates the effective exploration and utilization of local resources for optimal community advantages. Often CED initiatives are implemented to overcome crises, and increase opportunities for communities who are disadvantaged. An aspect of “localizing economics,” CED is a community-centered process that blends social and economic development to foster the economic, social, ecological and cultural well-being of communities. For example, neighborhood busines ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capacity Building
Capacity building (or capacity development, capacity strengthening) is the improvement in an individual's or organization's facility (or capability) "to produce, perform or deploy". The terms ''capacity building'' and ''capacity development'' have often been used interchangeably, although a publication by Development Assistance Committee, OECD-DAC stated in 2006 that ''capacity development'' was the preferable term. Since the 1950s, international organizations, governments, non-governmental organizations (NGOs) and communities use the concept of capacity building as part of "Socioeconomics, social and economic development" in national and subnational plans. The United Nations Development Programme defines itself by "capacity development" in the sense of "'how United Nations Development Programme, UNDP works" to fulfill its mission. The UN system applies it in almost every sector, including several of the Sustainable Development Goals to be achieved by 2030. For example, the Sustai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nassim Nicholas Taleb
Nassim Nicholas Taleb (; alternatively ''Nessim ''or'' Nissim''; born 12 September 1960) is a Lebanese-American essayist, mathematical statistician, former option trader, risk analyst, and aphorist whose work concerns problems of randomness, probability, and uncertainty. ''The Sunday Times'' called his 2007 book '' The Black Swan'' one of the 12 most influential books since World War II. Taleb is the author of the ''Incerto'', a five-volume philosophical essay on uncertainty published between 2001 and 2018 (of which the best-known books are ''The Black Swan'' and ''Antifragile''). He has been a professor at several universities, serving as a Distinguished Professor of Risk Engineering at the New York University Tandon School of Engineering since September 2008. He has been co-editor-in-chief of the academic journal ''Risk and Decision Analysis'' since September 2014. He has also been a practitioner of mathematical finance, a hedge fund manager, and a derivatives trader, and i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Antifragility
Antifragility is a property of systems in which they increase in capability to thrive as a result of stressors, shocks, volatility, noise, mistakes, faults, attacks, or failures. The concept was developed by Nassim Nicholas Taleb in his book, '' Antifragile'', and in technical papers., As Taleb explains in his book, antifragility is fundamentally different from the concepts of resiliency (i.e. the ability to recover from failure) and robustness (that is, the ability to resist failure). The concept has been applied in risk analysis, physics,Naji, A., Ghodrat, M., Komaie-Moghaddam, H., & Podgornik, R. (2014)Asymmetric Coulomb fluids at randomly charged dielectric interfaces: Anti-fragility, overcharging and charge inversion J. Chem. Phys. 141 174704. molecular biology, transportation planning,Levin, J. S., Brodfuehrer, S. P., & Kroshl, W. M. (2014, March)Detecting antifragile decisions and models lessons from a conceptual analysis model of Service Life Extension of aging vehicles In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Complexity
Project complexity is the property of a project which makes it difficult to understand, foresee, and keep under control its overall behavior, even when given reasonably complete information about the project system. With a lens of systems thinking, project complexity can be defined as an intricate arrangement of the varied interrelated parts in which the elements can change and evolve constantly with an effect on the project objectives. The identification of complex projects is specifically important to multi-project engineering environments. The domain was introduced by D. Baccarini in 1996. Types of complexity Complexity can be: * Structural complexity (also known as detail complexity, or complicatedness), i.e. consisting of many varied interrelated parts. It is typically expressed in terms of size, variety, and interdependence of project components, and described by technological and organizational factors. * Dynamic complexity, which refers to phenomena, characteristics, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Target Fixation
Target fixation is an attentional phenomenon observed in humans in which an individual becomes so focused on an observed object (be it a target or hazard) that they inadvertently increase their risk of colliding with the object. It is associated with scenarios in which the operator is in control of a high-speed vehicle or other mode of transportation, such as fighter pilots, race-car drivers, paragliders, and motorcyclists. In such cases, the observer may fixate so intently on the target that they steer in the direction of their gaze, which is often the ultimate cause of a collision. The term target fixation was originally used in World War II fighter-bomber pilot training to describe pilots flying into targets during a strafing or bombing run. Cause and effect Target fixation is caused by becoming focused on one thing that is usually distracting, dangerous, or rewarding. Focus can be caused by "anticipated success", such as when trying to arrive at a destination in a certain am ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Management Body Of Knowledge
The Project Management Body of Knowledge (PMBOK) is a set of standard terminology and guidelines (a body of knowledge) for project management. The body of knowledge evolves over time and is presented in ''A Guide to the Project Management Body of Knowledge'' (''PMBOK Guide''), a book whose seventh edition was released in 2021. This document results from work overseen by the Project Management Institute (PMI), which offers the CAPM and PMP certifications. Much of the ''PMBOK Guide'' is unique to project management such as critical path method and work breakdown structure (WBS). The ''PMBOK Guide'' also overlaps with general management regarding planning, organising, staffing, executing and controlling the operations of an organisation. Other management disciplines which overlap with the ''PMBOK Guide'' include financial forecasting, organisational behaviour, management science, budgeting and other planning methods. History Earlier versions of the ''PMBOK Guide'' were recogni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Management
Project management is the process of leading the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time, and budget. The secondary challenge is to optimize the allocation of necessary inputs and apply them to meet pre-defined objectives. The objective of project management is to produce a complete project which complies with the client's objectives. In many cases, the objective of project management is also to shape or reform the client's brief to feasibly address the client's objectives. Once the client's objectives are clearly established, they should influence all decisions made by other people involved in the project – for example, project managers, designers, contractors, and subcontractors. Ill-defined or too tightly prescribed project management objectives are detrimental to decision-maki ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Opposable Mind
''The Opposable Mind: How Successful Leaders Win Through Integrative Thinking'' is a book written by Roger Martin and published by the Harvard Business Review Press in 2007. The book introduces a concept of integrative thinking, using academic theory and insights from prominent business leaders to substantiate the idea. Summary Martin argues that, to emulate the world’s best leaders, people need to study how leaders think. He argues that integrative thinking is a common feature found in successful leaders. The book gives a working definition of integrative thinking as: “The ability to face constructively the tension of opposing ideas and, instead of choosing one at the expense of the other, generate a creative resolution of the tension in the form of a new idea that contains elements of the opposing ideas but is superior to each”. Martin notes some of the major differences between integrative thinkers and conventional thinkers. Integrative thinkers: take a broad view ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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