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What Economists Know That Managers Don’t (and Vice Versa)

Harvard Business Review

But what many economists generally gloss over is a notion that I will argue is highly complementary to market failures: management failures. For policy-making purposes economists assume that all businesses act rationally in the pursuit of profits. Businesses and management experts, in contrast, tend take the opposite position.

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What Economists Know That Managers Don’t (and Vice Versa)

Harvard Business Review

But what many economists generally gloss over is a notion that I will argue is highly complementary to market failures: management failures. For policy-making purposes economists assume that all businesses act rationally in the pursuit of profits. Businesses and management experts, in contrast, tend take the opposite position.

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Why Leaders Need to Think More Like Professional Gamblers

Leading Blog

We tend to see situations in one of two ways: either events are certain and can, therefore, be managed by planning, investment, and reliable budgets; or they are uncertain, and we cannot manage them. Probabilistic risk managers will think about the future of how they work. Let’s consider a few examples.

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Using Digital Exhaust to Improve Sales

Harvard Business Review

Customer relationship management software revolutionized how companies manage their sales pipelines. Now a new breed of software applications is reshaping sales force management. Data collected by the GoToMeeting tool is protected by strict privacy policies.). VoloMetrix pulls the data anonymously and aggregates it.

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Government Regulation That Actually Works

Harvard Business Review

Workplace inspections not only improve safety, they cause no discernible damage to employers' ability to stay in business and no reductions in sales or credit ratings, according to our research. Managers should welcome OSHA inspections. We now have the data to prove it.

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7 Ways to Improve Operations Without Sacrificing Worker Safety

Harvard Business Review

The culmination was an incident at an insecticide plant in LaPorte, Texas, where, as a result of a basic process safety management failure , an extremely toxic chemical—methyl mercaptan—was released and two workers were overcome. Needed repairs and upgrades were delayed, worker training postponed, and risk assessments overlooked.

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The Real Challenge to Turkey’s Economy Isn’t Terrorism

Harvard Business Review

Turkey’s general credit rating is still higher than that of Brazil, Croatia, Portugal, Cyprus, and Serbia. But it does help explain how the country has so far managed to insulate its economy. Still, foreign investors who manage to stay outside Turkish politics will likely benefit from the business environment.

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