Learning about the numerosity heuristic can save you money. As a three-time CEO, I’ve had a lot of experience with incentive stock options and have been appalled by how poorly they are understood by employees. Many employees fixated on the number of shares they were granted, rather than the percentage of shares outstanding. They would multiply their…
This weekend’s Wall Street Journal contained an article by former Chrysler and General Motors executive Bob Lutz called “Life Lessons from a Car Guy.” Lutz believes that different kinds of organizations require different kinds of leaders. A loosely-connected conglomerate like General Electric requires a leader with vision and portfolio management skills; investing/divesting lines of business,…
At the 84th annual Scripps National Spelling Bee, Sukanya Roy, a 14-year-old from northeastern Pennsylvania, correctly spelled cymotrichous to win the top prize over 274 other spellers after 20 rounds. Cymotrichous? I had no idea that word existed, let alone what it meant. Cymotrichous, which means having wavy hair, isn’t even recognized by the spell checker in Microsoft…
Even though I’m not normally a fan of prognostication, last week I attended the Churchill Club’s 13th annual Top 10 Tech Trends event due to its unusual format. Curt Carlson, President and CEO of SRI International, offered ten predictions that will most impact technology over the next three years. The validity of the trends were…
Would you drive 20 minutes out of your way to save $5 on a $15 calculator? Would you drive the same distance to save $5 on a $125 leather jacket? According to research from Richard Thaler, 68% of respondents would drive to get the calculator but only 29% for the leather jacket. On the surface,…
In a blog and twitter infected world, you would think that we have all learned to be brief. A never-ending parade of 50 slide ppt decks, run-on emails, and hour-plus lectures reminds me that we haven’t. It’s hard to get to the point. If you’re guilty of long emails or verbose marketing copy, remember the…
In his 1963 Lectures on Physics, Richard Feynman famously asked about a single statement that captures all knowledge: If, in some cataclysm, all of scientific knowledge were to be destroyed, and only one sentence passed on to the next generations of creatures, what statement would contain the most information in the fewest words? Dr. Feynman…
Most of us view work as a kind of economic transaction: people exchange labor for financial compensation. Depending on the job, increased quantity of labor (number of hours) or increased quality of labor (bonus or promotion) results in increased compensation. However, there is an increasing amount of research that shows that we are motivated not…
When are you the most productive? If you’re like most people, it’s unlikely that you answered “during the day in the office.” It might be early in the morning or late at night when no one else is around. It might be a special room in your house or a quiet spot in the library. For me,…
For the last 10 years, U.S. News & World Report has published an annual ranking of the top American hospitals in 16 specialties and 20+ metro areas. In the 2010 survey, only 152 of the 4,852 hospitals evaluated performed well enough to rank in any specialty. Of those 152, fourteen of them were given ‘honor role’…