In statistics a Latent Variable can be defined as, ‘a variable inferred from observed or measured data.’ Its analysis is often used psychology, economics, and predictive modeling. This author used Structural Equation Models (SEM) in his 1996 doctoral dissertation, Cross Cultural Negotiations Between Japanese and American Businessmen: A Systems Analysis (Exploratory Study). From that abstract,
We have all had that, “Where do I start” moment? Confronted with the NEW, sometimes the task seems daunting. In a recent conversation, a colleague and I were discussing an adult training program. The subject centered on how to help students jump start a creative flow. We humans are fond of using so called cheat
It appears that issues associated with the Covid-19 pandemic will remain for some time. Hopefully, the emerging vaccines will be readily available in the coming months. That said, one of the disruptive changes that may codify is Working from Home. In our March 16, 2020 piece, Home Base During a Crisis: ‘get up, clean up
App developers have fallen in love with the concept of Minimum Viable Product aka MVP. Wikipedia defines minimum viable product (MVP) as “a version of a product with just enough features to satisfy early customers and provide feedback for future product development.” This development model might make some sense for consumer software or even some
Current events may have us all longing for the ‘good ole days.’ Sounds good on paper but not something any of us can realize. Nostalgia aside we all must continue to slog on. It is after all a one-way trip and there is no Delorean to help us. The Challenge of Change People change all
In a recent Harvard Business Review, I was struck by an article about Best Practices for small businesses. From that piece, “To successfully navigate Volatile, Uncertain, Complex and Ambiguous (VUCA) challenges like Covid-19, family business leaders can look to best practices from another organization that specializes in VUCA situations—the U.S. military’s Special Operations Forces (SOF)”
Let me understate, ‘working in the petroleum sector has always been challenging.’ Now we find ourselves in a major economic downturn caused by a Covid-19 pandemic and aided and abetted by an international crude oil price war. Once again, many thousands have lost their livelihood and possibly not return to a similar job as the
April 20, 2020 marks the tenth anniversary of one of the most horrific incidents in the upstream oil and gas sector—Deepwater Horizon. In addition to the tragic loss of eleven lives, the sector forever changed. Immediate restructuring of federal oversight resulted in the establishment of the Bureau of Safety and Environmental Enforcement (BSEE) and their
The anecdote, ‘A Funny Thing Happened on the Way to’ wherever manifests itself for a number of paths. One interpretation; we often end up somewhere other than expected. We find ourselves at another historical precipice. Some suggest Armageddon, the end of life as we know it and the emergence of a new normal. This writer
We have been hearing for years how, Big Data Analysis will help us optimize our businesses and generate performance at levels here to for never hear of. So where is it now? Two major sources for data on the Covid-19 virus are Johns Hopkins University and the Centers for Disease Control and Prevention. This is
Prognosticators of the future, including this one are speculating on the Post-Covid-19 world. As with every disruptive crisis, things change going forward. This one will be no different and will probably accelerate certain trends, end some and generate many new opportunities. Some industry sectors and many organizations will need to transmute the way they do
In the middle of a global pandemic, all of us who can are advised to work from home. Many of us have worked remotely for a while now. Whether traveling, dealing with sick children, avoiding traffic or dealing with a natural disaster remote management has become part of our business DNA. Yet, this pundit was
According to legend, the term KISS or ‘Keep It Simple, Stupid’ was coined by Kelly Johnson, lead engineer at the Lockheed Skunk Works and noted by the US Navy as early as 1960. Subsequent phrases such as ‘Less is More’ followed. At first glance, it makes sense not to overly complicate a product, process or
This discussion could and probably should be a book. However, we will try to summarize the key differentiators in a few hundred words. When I first studied economics, a course during my MBA (1981), I was exposed to the Keynesian economic model. This construct was long taught by professors such as John Kenneth Galbraith of
By one measure, the US presidential primary season is off to a rough start. In a small state, counting the ballots became a challenge. Wasn’t technology supposed to solve the problems of past confusions? Yet the mechanism seemingly failed—again! How is this different from the Boeing Max 8 disaster? In one sense it isn’t. Disclaimer:
The advent of 5 G so soon after 4 G—Humm. What’s next? How many G’s are there? In 1965, Gordon Moore put forth the construct that the density of transistors in integrated circuits doubled each year. The so-called Moore’s Law has governed technology growth ever since. However; over 50 years later, some argue that we
Depending on one’s perspective, 2020 is either the end of the last decade or the beginning of this one. One can argue that our actual birthday is the day we were born and 12 months later we are one year old. This suggests that on our tenth birthday we have lived a decade and a
Generally, this time of year humans are wont to look back on the closing year and assess the good and the bad, and dare I say the ugly? We celebrate successes, review the not so successes, and what is left undone. This process prepares us for the New Year’s resolutions that are often then broken.
A year ago, it was the pleasure of this blogger to report that Santa Clause completed yet another successful global fulfillment process AND importantly, the process was in compliance with the US Federal Aviation Authority’s (FAA) regulations. A great deal of progress since the advent of one red light on the nose of the lead
Watch almost any media talk show and the interviewer will often interrupt the guest trying to answer the question just posed. This is such a common phenomenon that it is accepted behavior perhaps driven by ratings that come from on-air confrontation. It is part of the culture! Why ask the question if you’re only going
Several weeks ago, as an amateur history buff, I was watching a documentary about World War I. During one segment the commentator discussed the apparent fact that if soldiers refused to charge out of their trenches across an open field into the teeth of waiting machine guns they would be shot. The brutality of such
At lunch the other day and for whatever reason, the history of the 3M Post It Note became a subject of our conversation. This technological marvel unveiled in the 1970s is still widely used today. As with other new or disruptive technologies, the ‘sticky note’ was panned at first and for some time. According to
Years ago, as part of a never-ending series of company reorganizations, a team of our change management consultants headed to the ‘field’ to interview users. Upon their return, they presented an extensive list of technology investments deemed necessary to remain competitive. Their list focused on technology and not business concerns. Wondering, I asked who they
Since it was first uttered in the early 1990s, the phrase “It’s the economy stupid” has been used and misused extensively. Let’s squander the lexicon one more time. The US ‘silly’ political season is well underway and forecast to last almost 13 more months—no telling what voodoo economics will emerge. Those of us with our
I recently submitted an internal organizational document that was spellchecked in addition to my review; several times. One sentence where there the intent was to say, “that which is …” was change to “that witch is …” Did I type it wrong or did ‘auto correct’ take over the decision process? In any event spellcheck
“Failures of culture have been the single biggest destroyers of value in the last five years,” states the former senior vice president of HR of Google in a recent article. This revelation by one of the contemporary tech giants supports the previous dictum, “Culture eats strategy for breakfast.” Depending on one’s perspective, this latter quote
“This eliminates the possibility for human error.” This is an actual quote taken from one of the many blockchain ‘credible’ websites readily available—citation withheld to protect the guilty. And, the Titanic was unsinkable! From another credible sources, “Is blockchain secure for my business? Simply put, it can be. But, not by just turning the key.
Are the emerging machines our friend or foe? The debut of new technologies such as Artificial Intelligence (AI), Internet of Things IoT) and a host of others seem to be drowning us as we drink from a technological fire hose. Additionally, driverless vehicles, the Gig Economy et al. are conspiring to eliminate truck drivers and
Customer Acquisition and Retention (CAR) are two of the most important activities of the Marketing and Sales strategies and should be KPIs for “C” suite occupants as well. One of the classic case studies of the battle over CAR is the so-called Cola Wars initiated between Coca Cola and Pepsi Cola in the 1970s. These
We live in a youth culture. As young Baby Boomers, we were going to change the world. Later other Gens would say the same. Is it now too late for those over 50 to attain entrepreneurial success? A serial (often failed) entrepreneur, (Kentucky) Colonel Harland Sanders sold his first franchised secret receipt for “Kentucky Fired
