March 23, 2020
The beer distribution game (also known as the ‘beer game’) is a role-play simulation developed by MIT Sloan School of Management in the 1960s to reveal information sharing failures and typical coordination problems of a supply chain.
This game outlines the importance of information sharing, supply chain management, and collaboration throughout a supply chain process. Due to lack of information, suppliers, manufacturers, sales people and customers often have an incomplete understanding of what the real demand of an order is.
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February 18, 2020
A whistleblower is a person who exposes secretive information or activity that is deemed illegal, unethical, or not correct within a private or public organization such as a violation of a law, company regulation, or threat to public interest/national security, as well as fraud, and corruption.
U.S. civic activist Ralph Nader is said to have coined the phrase, but he in fact put a positive spin on the term in the early 1970s to avoid the negative connotations found in other words such as ‘informer’ and ‘snitch.’ However, the origins of the word date back to the 19th century. The word is linked to the use of a whistle to alert the public or a crowd about a bad situation, such as the commission of a crime or the breaking of rules during a game.
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February 14, 2020
A mudlark is someone who scavenges in river mud for items of value, a term used especially to describe those who scavenged this way in London during the late 18th and 19th centuries.
Mudlarks would search the muddy shores of the River Thames at low tide for anything that could be sold; and sometimes, when occasion arose, pilfering from river traffic. By at least the late 18th century people dwelling near the river could scrape a subsistence living this way.
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February 10, 2020
A gentleman thief, gentleman burglar, lady thief, or phantom thief is a stock character in fiction. A gentleman or lady thief usually has inherited wealth and is characterized by impeccable manners, charm, courteousness, and the avoidance of physical force or intimidation to steal.
As such, they steal not only to gain material wealth but also for the thrill of the act itself, which is often combined in fiction with correcting a moral wrong, selecting wealthy targets, or stealing only particular rare or challenging objects.
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February 6, 2020
Chuck Taylor (1901 – 1969) was an American basketball player and basketball shoe salesman/product marketer who is best known for his association with the Chuck Taylor All-Stars, which he helped to improve and promote.
Most American basketball players wore Chuck Taylor All Stars between the mid-1920s and the 1970s, and the All Star was the official shoe of the Olympics team from 1936 to 1968.
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January 30, 2020
An all-you-can-eat restaurant (AYCE) is a type of restaurant in which a fixed price is charged for entry, after which diners may consume as much food as they wish. All-you-can-eat establishments are frequently buffets.
The all-you-can-eat buffet has been ascribed to Herbert ‘Herb’ Cobb McDonald, a Las Vegas publicity and entertainment manager who introduced the idea in 1946.
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January 2, 2020
Mushroom management also known as ‘Pseudo-Analysis’ or ‘Blind Development,’ is the running of a company where the communication channels between the managers and the employees do not work traditionally. The term alludes to the stereotypical (and somewhat inaccurate) view of mushroom cultivation: kept in the dark and fed bullshit.
Mushroom management is a style of management in which the personnel are not familiar with the ideas or the general state of the company, and are given work without knowing the purpose of this work, in contrast with open-book management. Mushroom management means that workers’ curiosity and self-expression are not supported.
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November 12, 2019
The term homo economicus, or economic man, is the sometimes satirical portrayal of humans as agents who are consistently rational, narrowly self-interested, and who pursue their subjectively-defined ends optimally.
In game theory, homo economicus is often modeled through the assumption of perfect rationality. It assumes that agents always act in a way that maximize utility as a consumer and profit as a producer, and are capable of arbitrarily complex deductions towards that end. They will always be capable of thinking through all possible outcomes and choosing that course of action which will result in the best possible result.
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November 7, 2019
Rationality is the quality or state of being rational, i.e. agreeable to reason. Rationality implies the conformity of a person’s beliefs with their reasons to believe and of their actions with their reasons for action. When a goal or problem requires making a decision, rationality factors in all information that is available (e.g. complete or incomplete knowledge).
It is meaningless to assert rationality without also specifying the background model assumptions describing how the problem is framed and formulated. Rationality is relative: in models that optimize for personal benefit, self-interested or even selfish behavior is rational; in models that favor benefiting the group over the individual, purely selfish behavior is deemed irrational.
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August 2, 2019
Lynnette Hardaway and Rochelle Richardson, popularly known as Diamond and Silk, are American live-stream video bloggers, social media personalities, political activists and Fox Nation hosts.
They are known for their commentary in support of United States President Donald Trump. Since 2018, Diamond and Silk have traveled the country on their Chit Chat Tour. Hardaway is notably more talkative, while Richardson often just expresses agreement.
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July 29, 2019
Rapport [ra-pawr] is a close and harmonious relationship in which the people or groups concerned are ‘in sync’ with each other, understand each other’s feelings or ideas, and communicate smoothly. Methods for increasing interpersonal rapport in domains like education, medicine, or sales include coordination (or ‘mirroring’), showing your attentiveness to the other, building commonality, and managing the other’s self-perception (also called ‘face’ management).
The word stems from the old French verb ‘rapporter’ which means literally to carry something back; and, in the sense of how people relate to each other means that what one person sends out the other sends back. For example, they may realize that they share similar values, beliefs, knowledge, or behaviors around politics, music or sports. This may also mean that the participants engage in reciprocal behaviors such as posture mirroring or in increased coordination in their verbal and nonverbal interactions.
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July 21, 2019
Fearless Girl is a bronze sculpture by American sculptor Kristen Visbal, commissioned by State Street Global Advisors (SSGA), a large asset management company. The statue was installed on March 7, 2017, in anticipation of International Women’s Day the following day.
The statue was originally installed in Bowling Green, a park in lower Manhattan, facing down the ‘Charging Bull’ (also known as ‘Wall Street Bull,’ a large bronze statue illegally placed there in 1989 by Sicilian artist Arturo Di Modica), but following complaints from Di Modica, ‘Fearless Girl’ was removed in November 2018 and relocated to a nearby spot across from the New York Stock Exchange. A plaque with footprints was placed on the original site.
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