Words to Know:Moral Hazard
Here’s a good phrase to know: moral hazard. According to Wikipedia, the definition of moral hazard is:
The prospect that a party insulated from risk may behave differently from the way it would behave if it were fully exposed to the risk.
In other words, someone with insurance (or any other backup plan) will do crazy things. [...]
Words to Know: BRIC
Here’s a good word to know: BRIC. It is an acronym for Brazil, Russia, India, China. These are the economies that are on pace to be the strongest in the world by 2050. That’s right, they are expected to usurp the current economic powerhouses (like the USA) by the year 2050. For businesses and young [...]
The Curse of Knowledge
Here’s a good phrase to know: The Curse of Knowledge. Ever since Made To Stick was published, I’ve been hearing this more and more. Knowledge is a curse because the more you know, the harder it is to talk to someone who doesn’t know the same things. Basically, someone afflicted with the curse of knowledge [...]
Words to Know: Scope
Here’s a good word to know: scope. This word is used to determine what you are responsible for delivering with your project. If you are expected to deliver it, then it is “in scope”. If you are not responsible to deliver it, then it is “out of scope”. This seems simple, but it can [...]
How to Apply The Long Tail: Preventive Healthcare
I first picked up The Long Tail by Chris Anderson after seeing it referenced in a million places across the internet and the business world. As strong as my dislike is for over and oft-inappropriately used buzz words, I had to know the full explanation for this phenomenon.
The Long Tail originates from an [...]
Marginal
Here’s a good word to know: marginal. People don’t seem to know if it means “a lot” or “a little”. In fact, I got so confused by people using this word I had to look it up. You see, people in my world are always saying “oh, that’s showing marginal improvement.” Sometimes the tone of [...]
Generation Gap
Here’s a good phrase to know: generation gap. Next time you are in a meeting and you want to say “sir, you don’t understand because you are too old”, don’t do it. Instead say this, “I think the reason that this isn’t clear is because there is a bit of a generation gap here”. [...]
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