"There is scarcely anything in the world that some man cannot make a little worse, and sell a little more cheaply. The person who buys on price alone is this man's lawful prey." -- John Ruskin, (attributed)
The break-even analysis establishes a relationship between revenues and costs with respect to volume.
It indicates the level of sales at which costs and revenues are in equilibrium.
The equilibrium point is commonly known as the break-even point.
The breakeven point is that point of sales volume at which total revenue is equal to total costs. It is a no-profit, no-loss point.
Communication & Generation Gaps in the Workplace
- | - Thanks to Jessica Dennis for recommending this site.
This guide addresses generational differences, including baby boomers, generation x, and millennials, recognizing ageism, defusing generational conflict, being an active listener, mindfulness of one's own limitations, and continued training. Considering that an age and communication gaps are inherent to any company culture, it is more important than ever for management to be aware of and possess good communication skills.
Zoom is far from being the only video conferencing app with security issues. Services such as Google Meet, Microsoft Teams, and Webex have all received flack from security experts over privacy concerns.
Participants don't need to create a Zoom account, so avoid doing so if you can.
50% of the work is done by the square root of the total number of people who participate in the work.
The term was introduced by Herbert A. Simon in his Models of Man 1957
Satisfice (= satisfactory & sufficient) vs. Maximize (= perfect)
To obtain an outcome that is good enough. Satisficing action can be contrasted with maximising action, which seeks the biggest, or with optimising action, which seeks the best. In recent decades doubts have arisen about the view that in all rational decision-making the agent seeks the best result. Instead, it is argued, it is often rational to seek to satisfice i.e. to get a good result that is good enough although not necessarily the best.
Humans usually select the first reasonable option (a strategy known as "satisficing" - a cross between "satisfying" and "sufficing"). We hardly ever select the best option from all available options. Our brain just can't be bothered to think all the time. Why Do We Satisfice? We satisfice because we want to reach our goal with minimum wasted effort and time. There is little upside to spending time and effort to find the best option. If we make the wrong choice, which happens all the time, we can simply click the "Back" button on the browser and try again. - (source?)
The optimum choice is the one that provides the best balance between profit opportunities and the risks and costs of failure.
Widget = a placeholder name for an object or, more specifically, a mechanical or other manufactured device = "Widget" is frequently used in texts and speech, especially in the context of economics, to indicate a hypothetical "any-product." Companies in such texts will frequently be given names such as "ABC Widgets" or "Acme Widget Corp." to indicate that the particular business of the hypothetical company is not relevant to the topic of discussion.
Similar (but not identical) to: doodad, doohickey, whatsit, thingamabob, thingumbob, thingamajig, dingus,Whatchamacallit, da kine
Thingummy (the British term for thingamajig) or whatchamacallit is a general placeholder for something or someone whose real name you can't recall.
Active vs. Passive Investing - Active investing involves paying a human to buy and sell individual stocks regularly through mutual funds. A passive investing strategy involves investing in index ETFs rather than picking stocks. Active investing aims to beat the market where as passive investing aims to track the market.
Underperforming stocks are removed (deleted) from the market (S&P 500) and replaced. The replacement date may be announced a month before the required trading date for the ETF (see also exchange traded fund, index fund, equity fund, index tracker, mutual fund, etc.). The trading opportunity is obvious: Buy the outgoing stock, which has been pounded down, and sell the incoming stock, which has been pushed to the sky, on the big day before the switch becomes effective. Alternatively, just buying the outgoing stock (at the closing price on the day it's removed from the index) works great, on average. On average, this outgoing stock will beat the market by an average of nearly 20% over the following 12 months.
A stock market simulator is a program or application that attempts to reproduce or duplicate some or all features of a live stock market on a computer so that a player may practice trading stocks without financial risk. Paper trading (sometimes also called "virtual stock trading") is a simulated trading process in which would-be investors can 'practice' investing without committing real money
The smaller the effect seen in a study, the more likely it's wrong.
The more variables tested in a study the more likely it's wrong.
The more flexible designs, definitions, and outcomes are, the more likely it's wrong.
The greater the financial interest in being right, the more likely it's wrong.
The hotter the field of research, the more likely it's wrong.
Much of this is stuff your earth science teacher should have told you in junior high school. Narrow the variables. Narrow the scope. Tighten the design so only what you're testing varies. Take your biases out of the equation.
"The Power of Nice: How to Negotiate So Everyone Wins - Especially You!" - Ronald Shapiro & Mark Jankowski - Wiley & Sons
Prepare - research, study, stockpile knowledge
Probe - ask questions
Propose - try not to go first, but when you do, make a strong, reasonable offer that you are prepared to change
Arbitration - Wikipedia * Arbitration can be either voluntary or mandatory (although mandatory arbitration can only come from a statute or from a contract that is voluntarily entered into, where the parties agree to hold all existing or future disputes to arbitration, without necessarily knowing, specifically, what disputes will ever occur) and can be either binding or non-binding. Non-binding arbitration is similar to mediation in that a decision can not be imposed on the parties. However, the principal distinction is that whereas a mediator will try to help the parties find a middle ground on which to compromise, the (non-binding) arbitrator remains totally removed from the settlement process and will only give a determination of liability and, if appropriate, an indication of the quantum of damages payable. By one definition arbitration is binding and so non-binding arbitration is technically not arbitration.
* Arbitration is a proceeding in which a dispute is resolved by an impartial adjudicator whose decision the parties to the dispute have agreed, or legislation has decreed, will be final and binding. There are limited rights of review and appeal of arbitration awards.
* Arbitration is not the same as:
judicial proceedings, although in some jurisdictions, court proceedings are sometimes referred as arbitrations
How to Tell if You're Not Getting the Whole Truth | AARP
They fidget nervously. They touch their nose, they pull an ear. It's like a "tell" for a poker player.
They talk real fast. You almost can't understand what they're saying. It's like they don't really want you to hear them.
They try to change the subject. It's an attempt to deflect your attention.
They repeat the question when you know they've heard It loud and clear. "Wait a minute. Let me get this straight. You're seriously asking me .. !' It's a stalling tactic as they try to come up with a convincing response.
They won't look you In the eye. Or else they will. It helps if you know how the person usually behaves. If they ordinarily look you in the eye but suddenly don't, they're probably not giving you the whole truth. And vice versa.