Subject: BP oil spill.
Forensic Accounting Definition: Providing an accounting analysis (many times after the fact) that is suitable to the court which will form the basis for discussion, debate and ultimately dispute resolution.
Because of the magnitude of this disaster, the complexity and cover of darkness of the incident, the theory and practice of forensic accounting could objectivity be shadowed by a similar process given the facts in this case…forensic decisioning.
Forensic Decisioning Definition: Providing a decision making analysis (at all levels) that is suitable to the court which will form the basis for discussion, debate and ultimate dispute resolution.
In each of the following decisions highlighted, the forensic question and mystery that would need to be answered is: HOW was the decision made?
Wall Street Journal
5-25-10
By STEPHEN POWER
Oil giant BP PLC told congressional investigators that a decision to continue work on an oil well in the Gulf of Mexico after a test warned that something was wrong may have been a "fundamental mistake," according to a memo released by two lawmakers Tuesday.
The document describes a wide array of mistakes in the fateful final hours aboard the Deepwater Horizon-but the main revelation is that BP now says there was a clear warning sign of a "very large abnormality" in the well, but work proceeded anyway.
The rig exploded about two hours later.
Full article:
http://online.wsj.com/article/SB10001424052748704026204575265701607603066.html?KEYWORDS=decisions
msnbc.com news services
Wed., May 26, 2010
Brown said the top Transocean official on the rig grumbled, "Well, I guess that's what we have those pinchers for"…which he took to be a reference to devices on the blowout preventer, the five-story piece of equipment that can slam a well shut in an emergency.
The argument concerned "displacing the riser," Brown said, a reference to a decision made by rig personnel to remove heavy drilling mud from the drill pipe and replace it with sea water, in an attempt to wrap up drilling operations and plug the well with cement until it was ready for production.
Drilling mud is a mixture of synthetic ingredients that is pumped into the well to exert downward pressure and prevent a column of oil and gas from rushing up the pipe. The switch presumably would have allowed the company to remove the fluid and use it for another project, but the seawater would have provided less weight to counteract the surging pressure from the ocean depths.
Because water is lighter and less dense than mud, the procedure allowed a flood of flammable methane gas to surge up the drill pipe, which ignited and led to a catastrophic fire, according to documents from the House Energy and Commerce Committee.
Conflicting pressure tests
Congressional investigators say BP and Transocean made a decision late on April 20 to begin removing mud from within the drill pipe despite pressure tests from within the well that a BP official described as "not satisfactory" and "inconclusive."
Earlier in the day, well pressure tests showed an imbalance between the drill pipe choke and kill lines running from the drill deck to the blowout preventer. The pressure in the drill pipe was 1,400 pounds per square inch, while the choke and kill lines read zero PSI, according to BP documents gathered by the House Energy and Commerce Committee.
In BP's internal investigation, made public by the committee, BP said it might have been a "fundamental mistake" to continue with the procedure because there was an "indication of a very large abnormality."
The statements obtained by The Associated Press include those by Truitt Crawford, a Transocean worker who told Coast Guard investigators about similar complaints.
Full Article:
http://www.msnbc.msn.com/id/37363106/ns/gulf_oil_spill/
“Deeply disturbing”
Interior Secretary Ken Salazar called the latest report "deeply disturbing" and said it highlights the need for changes he has proposed, including a plan [Decision] to abolish the minerals agency and replace it with three new entities.
The report "is further evidence of the cozy relationship between some elements of MMS and the oil and gas industry," Salazar said Tuesday. "I appreciate and fully support the inspector general's strong work to root out the bad apples in MMS."
Salazar said several employees cited in the report have resigned, were fired or were referred for prosecution. Actions may be taken against others as warranted, he said.
Top Kill:
Engineers Try to Control Gulf of Mexico Oil Spill; Louisiana Asks for More Help
BP Tries Pumping Mud Down Pipe to Stop Oil Flow; Gov. Bobby Jindal Asks for Supplies
By NED POTTER, AYANA HARRY and BRADLEY BLACKBURN
May 26, 2010
http://abcnews.go.com/WN/Politics/bp-oil-spill-engineers-begin-top-kill-effort/story?id=10751007
Louisiana Gov. Bobby Jindal said today that his state doesn't have what it needs to fight the spread of BP's oil. All eyes are on the latest plan to stop the Gulf oil spill.
"We need more boom, more skimmers, more jack-up barges," Jindal said at an angry news conference in Venice, Louisiana, complaining that Louisiana has received a fraction of the supplies it requested to protect itself from the oil spill in the Gulf of Mexico.
"More than 100 miles of our shoreline has been impacted by the oil spill. That is more than the entire sea coastline of Mississippi and Alabama combined," the governor said.
Yet, Other Countries Offer Aid…
While the governor asks for more supplies, a number of countries said today that the U.S. government and BP had yet to take them up on offers of assistance, including booms and skimmers. The State Department said in a briefing today that 17 countries had offered assistance, including Canada , Mexico, South Korea, Croatia, France, Germany, Ireland , Japan, the Netherlands, Norway , Romania, Russia, Spain, Sweden, the United Arab Emirates, the United Kingdom and Vietnam. BP added another two countries to that list, Brazil and Saudi Arabia.
While BP has accepted some supplies, including booms and skimmers from Norway, most other countries said they were waiting for a response [Decision] from the U.S. government.
The Decision?
"We have the equipment," said Ferran Tarradellas, a spokesman for the European Union agency coordinating Europe's response, "but at this point in time, we have not received any requests."
Full Article:
http://abcnews.go.com/WN/Politics/bp-oil-spill-engineers-begin-top-killeffort/story?id=10751007&page=3
ZDT author’s note:
Again, the question is: How were these decisions being made? In the forensic process, the “how” issue can potentially mitigate the same mistakes being made going forward. Considering the lives, money, industry, ecosystems and every other contingency at stake in this case, that should be a small but vital request. (To be continued)…
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Wednesday, June 30, 2010
Seth Said it Right...
http://sethgodin.typepad.com/seths_blog/2010/06/youre-already-self-employed.html
You're already self-employed…(So, when are you going to start acting like it?)
“The idea that you are a faceless cog in a benevolent system that cares about you and can't tell particularly whether you are worth a day's pay or not is…like it or not…over.
In the long run, we're all dead. In the medium-long run, though, we're all self-employed. In the medium-long run, the decisions and actions we take each day determine what we'll be doing next.” Seth Godin
ZDT Author’s Comments:
Talk about bottom lining life’s decisions…Seth nails it.
One author said: “The Original Decision Created the Ultimate Decision” and that “Life is but a Decision.”
Another quoted a Bible verse: Matt 27:1 “Early in the morning, all the chief priests and the elders of the people came to the decision to put Jesus to death.
And, then there is this: “As a man thinks, so is he, and as a man decides, so is he.”
Ralph Waldo Emerson
So with the constant emphasis of the decisions of life being so front/center…
please consider:
-The hierarchy of decisions to be made (not treating little choices versus life altering decisions with the same emphasis or technique).
-Adopt a simple, memorable, repeatable and reliable decision making System or MODEL going forward (and share it with friends and family).
-Create some form of accountability with your decision process.
-Decide to decide.
We welcome your feedback.
You're already self-employed…(So, when are you going to start acting like it?)
“The idea that you are a faceless cog in a benevolent system that cares about you and can't tell particularly whether you are worth a day's pay or not is…like it or not…over.
In the long run, we're all dead. In the medium-long run, though, we're all self-employed. In the medium-long run, the decisions and actions we take each day determine what we'll be doing next.” Seth Godin
ZDT Author’s Comments:
Talk about bottom lining life’s decisions…Seth nails it.
One author said: “The Original Decision Created the Ultimate Decision” and that “Life is but a Decision.”
Another quoted a Bible verse: Matt 27:1 “Early in the morning, all the chief priests and the elders of the people came to the decision to put Jesus to death.
And, then there is this: “As a man thinks, so is he, and as a man decides, so is he.”
Ralph Waldo Emerson
So with the constant emphasis of the decisions of life being so front/center…
please consider:
-The hierarchy of decisions to be made (not treating little choices versus life altering decisions with the same emphasis or technique).
-Adopt a simple, memorable, repeatable and reliable decision making System or MODEL going forward (and share it with friends and family).
-Create some form of accountability with your decision process.
-Decide to decide.
We welcome your feedback.
Tuesday, June 29, 2010
How Would You Make This Decision?
Last week 17 year old Brit, Mike Perham became the youngest person to sail around the world, traveling 28,000 miles in his 9 month journey. Laura Dekker, 13 of the Netherlands feels she is prepared to break his record. Dekker has had the desire to do this voyage since she was 10 and feels confident about her abilities to do so. "I've sailed a lot at sea, and I've sailed a lot by myself." she said.
There has been a slight setback to her plans however, because Dutch courts feel the voyage is too risky and have placed her under state supervision for the next two months until they can further evaluate whether or not she is ready for the journey. Her 26-foot boat “Guppy” is her means of transportation.
There has been much talk among the news comparing the differences between Perham and Dekker in terms of age and gender. Many say that boys are more fitted to deal with mechanical problems because they are physically stronger. Also brought up is the fact of better decision making by a 17 year old than a 13 year old. It has been said that Dekker is less likely to be able to defend herself from rape, kidnap or other attackers than a 17 year old male or female. Pirates have been known to operate in many regions over the world and when word gets out that a 13 year old western girl is on sail by herself this could be a real money maker for them to capitalize on.
Both her parents who are currently divorced gave her consent to set sail on a 2 year trip around the globe when the judges decided to intervene. Neither her mother nor father will be allowed to make any decision about her for the next two months. She currently lives with her father, where she will continue to stay with frequent checkups by child care officials (and if she is not currently successful, let’s assume she continues her attempts within the next couple of years).
For full article and credits:
http://www.examiner.com/x-14096-Tucson-World-Travel-Examiner~y2009m8d31-Laura-Dekker-13-is-prepared-to-sail-around-the-world-solo-Dutch-courts-delay-decision
Author’s Comments:
Please email me, and I will show you how we calculated our MODELTM decision.
There has been a slight setback to her plans however, because Dutch courts feel the voyage is too risky and have placed her under state supervision for the next two months until they can further evaluate whether or not she is ready for the journey. Her 26-foot boat “Guppy” is her means of transportation.
There has been much talk among the news comparing the differences between Perham and Dekker in terms of age and gender. Many say that boys are more fitted to deal with mechanical problems because they are physically stronger. Also brought up is the fact of better decision making by a 17 year old than a 13 year old. It has been said that Dekker is less likely to be able to defend herself from rape, kidnap or other attackers than a 17 year old male or female. Pirates have been known to operate in many regions over the world and when word gets out that a 13 year old western girl is on sail by herself this could be a real money maker for them to capitalize on.
Both her parents who are currently divorced gave her consent to set sail on a 2 year trip around the globe when the judges decided to intervene. Neither her mother nor father will be allowed to make any decision about her for the next two months. She currently lives with her father, where she will continue to stay with frequent checkups by child care officials (and if she is not currently successful, let’s assume she continues her attempts within the next couple of years).
For full article and credits:
http://www.examiner.com/x-14096-Tucson-World-Travel-Examiner~y2009m8d31-Laura-Dekker-13-is-prepared-to-sail-around-the-world-solo-Dutch-courts-delay-decision
Author’s Comments:
Please email me, and I will show you how we calculated our MODELTM decision.
Monday, June 28, 2010
What is Commitment? Part Two.
HOW TO PRACTICE COMMITMENT
Effectively demonstrating commitment to others, to the organization's basic principles, and to oneself is never easy. The truth is…demonstrating commitment is hard work. Wavering commitment is usually seen as no commitment at all. The only way to achieve a reputation for commitment is through determination and persistence.
Genuine commitment stands the test of time.
Day to day, commitment is demonstrated by a combination of two actions. The first action is called supporting. Genuine support develops a commitment in the minds and hearts of others. This is accomplished by focusing on what is important and leading by example. It is not uncommon for people to be either confused as to what is important, or lose sight of it over time. Supporting means concentrating on what adds value, spotlighting what's working, and rewarding others who are focusing on what is important and leading by example. A crucial aspect of true support is standing up to those who would undermine commitment, those whose words or actions show disrespect.
The second action underlying commitment is called improving. Improving stretches our commitment to an even higher level. Commitment means a willingness to look for a better way and learn from the process. It focuses on eliminating complacency, confronting what is not working, and providing incentives for improvement. The spirit of improving is rooted in challenging current expectation and ultimately taking the risk to make changes. These changes are based more on optimism in the future than dissatisfaction in the past. It is embodied in the reply of car maker Professor Porsche, who, when asked which was his favorite model in the long line of Porsche automobiles replied: "I haven't built it yet!"
It is the combination of both supporting and improving behaviors that makes up the practice of commitment. Separately neither action is capable of sustaining commitment. Promoting alone can come across as a shallow and pollyannish. Continuous improvement can be seen as "good is never good enough". Together they provide a needed balance. Both are essential to commitment.
WHEN COMMITMENT IS MOST IMPORTANT
Commitment is most difficult and most readily proven during tough times. How someone weathers the storms most clearly demonstrates their basic beliefs. In antiquity, Epicurus stated: "...a captain earns his reputation during the storms." When your competition scores big against you, when the money dries up, or when the glamour of success wears off, this is when it is easiest to compromise your commitments. The real test comes when you can hold the line against the easy route of compromise.
Fortunately, paying the price that commitment commands has payoffs worth the cost…a reputation for integrity and, even more important, the commitment of others in return. Commitment is a two-way street. You only get it if you are willing to give it.
For full article and credits:
http://www.prismltd.com/commit.htm
Effectively demonstrating commitment to others, to the organization's basic principles, and to oneself is never easy. The truth is…demonstrating commitment is hard work. Wavering commitment is usually seen as no commitment at all. The only way to achieve a reputation for commitment is through determination and persistence.
Genuine commitment stands the test of time.
Day to day, commitment is demonstrated by a combination of two actions. The first action is called supporting. Genuine support develops a commitment in the minds and hearts of others. This is accomplished by focusing on what is important and leading by example. It is not uncommon for people to be either confused as to what is important, or lose sight of it over time. Supporting means concentrating on what adds value, spotlighting what's working, and rewarding others who are focusing on what is important and leading by example. A crucial aspect of true support is standing up to those who would undermine commitment, those whose words or actions show disrespect.
The second action underlying commitment is called improving. Improving stretches our commitment to an even higher level. Commitment means a willingness to look for a better way and learn from the process. It focuses on eliminating complacency, confronting what is not working, and providing incentives for improvement. The spirit of improving is rooted in challenging current expectation and ultimately taking the risk to make changes. These changes are based more on optimism in the future than dissatisfaction in the past. It is embodied in the reply of car maker Professor Porsche, who, when asked which was his favorite model in the long line of Porsche automobiles replied: "I haven't built it yet!"
It is the combination of both supporting and improving behaviors that makes up the practice of commitment. Separately neither action is capable of sustaining commitment. Promoting alone can come across as a shallow and pollyannish. Continuous improvement can be seen as "good is never good enough". Together they provide a needed balance. Both are essential to commitment.
WHEN COMMITMENT IS MOST IMPORTANT
Commitment is most difficult and most readily proven during tough times. How someone weathers the storms most clearly demonstrates their basic beliefs. In antiquity, Epicurus stated: "...a captain earns his reputation during the storms." When your competition scores big against you, when the money dries up, or when the glamour of success wears off, this is when it is easiest to compromise your commitments. The real test comes when you can hold the line against the easy route of compromise.
Fortunately, paying the price that commitment commands has payoffs worth the cost…a reputation for integrity and, even more important, the commitment of others in return. Commitment is a two-way street. You only get it if you are willing to give it.
For full article and credits:
http://www.prismltd.com/commit.htm
Friday, June 25, 2010
What is Commitment? Part One.
A great business leader once said:
"...the basic philosophy, spirit, and drive of an organization have far more to do with its relative achievements than do technological or economic resources, organizational structure, innovation, and timing. All these things weigh heavily in success. But they are, I think, transcended by how strongly the people in the organization believe in its basic precepts and how faithfully they carry them out." (From Thomas J. Watson, Jr., A Business and its Beliefs - The ideas that helped build IBM).
As true as this is for the success of a corporation, it is even more so for the individual. The most important single factor in individual success is COMMITMENT. Commitment ignites action. To commit is to pledge yourself to a certain purpose or line of conduct. It also means practicing your beliefs consistently. There are, therefore, two fundamental conditions for commitment. The first is having a sound set of beliefs. There is an old saying that goes, "Stand for something or you'll fall for anything." The second is faithful adherence to those beliefs with your behavior.
Possibly the best description of commitment is "persistence with a purpose".
Many successful business people are hailed as visionary leaders. On careful inspection they are found to be individuals who hold firmly to a simple set of commitments, usually grounded in beliefs such as "the best product money can buy", or the highest possible customer service". It is the strength of these commitments, religiously followed, that led to their business success.
WHERE TO PRACTICE
It appears that effective leaders hold dearly to a half dozen commitments. The first, and most basic, of these is a commitment to a set of values, principles or beliefs. These underlying principles define both the organization's uniqueness and the fundamental direction in which it wants to head. This first commitment leads to a common vision and purpose within the organization.
The second commitment is to oneself, and to how one acts as a leader. An effective leader possesses a strong sense of personal integrity and self confidence. This leads to a willingness to share the credit for success. Another side to this commitment is a deliberate emphasis on continual self-improvement.
The combination of a strong, positive commitment to self and to a set of principles serves as a foundation to effectively maintain the remaining four commitments. These commitments are to: customers, results, employees, and the organization.
Everyone has a customer and is a customer to someone else. Customers are usually thought of as external to the organization who needs your product or service. A question worth asking is, "How much are others willing to pay for my work?" The price your customers are willing to pay measures its values in their eyes.
Besides serving customers, all organizations target specific results. Given the large number of demands placed on all of us, it is important to concentrate on achieving the most important goals and objectives. Commitment to results is largely determined by how clear priorities are, what actions get rewarded, and what risks are being taken to improve intended results.
The next commitment is to the people. The quality of the organization's commitment to customers and results is largely based upon the quality of its commitment to people. The simple reason for this is that it is these people who serve the customer and achieve results. How are people treated in the organization? Commitment to people is largely the product of treating people with respect, challenging them, and giving them effective feedback on how they are doing.
The final leadership commitment is to the larger organization. Other departments, higher management, the organization's overall strategy & mission are important. Communication is the key with this commitment. How people talk to, and about, each other greatly affects the quality of cooperation. How open are the channels of communication up, down, and across? Can management be challenged? Will people support management decisions and changes?
Balancing all six commitments is the key to well directed leadership. When management supports its employees, they will be able and willing to achieve intended results, When these results support customer needs and expectations, customers will support the organization with their business. A strong and healthy organization can then continue to show commitment to its people. The glue that holds this process together is the values and leaders in the organization.
(Continued on next ZDT post...)
"...the basic philosophy, spirit, and drive of an organization have far more to do with its relative achievements than do technological or economic resources, organizational structure, innovation, and timing. All these things weigh heavily in success. But they are, I think, transcended by how strongly the people in the organization believe in its basic precepts and how faithfully they carry them out." (From Thomas J. Watson, Jr., A Business and its Beliefs - The ideas that helped build IBM).
As true as this is for the success of a corporation, it is even more so for the individual. The most important single factor in individual success is COMMITMENT. Commitment ignites action. To commit is to pledge yourself to a certain purpose or line of conduct. It also means practicing your beliefs consistently. There are, therefore, two fundamental conditions for commitment. The first is having a sound set of beliefs. There is an old saying that goes, "Stand for something or you'll fall for anything." The second is faithful adherence to those beliefs with your behavior.
Possibly the best description of commitment is "persistence with a purpose".
Many successful business people are hailed as visionary leaders. On careful inspection they are found to be individuals who hold firmly to a simple set of commitments, usually grounded in beliefs such as "the best product money can buy", or the highest possible customer service". It is the strength of these commitments, religiously followed, that led to their business success.
WHERE TO PRACTICE
It appears that effective leaders hold dearly to a half dozen commitments. The first, and most basic, of these is a commitment to a set of values, principles or beliefs. These underlying principles define both the organization's uniqueness and the fundamental direction in which it wants to head. This first commitment leads to a common vision and purpose within the organization.
The second commitment is to oneself, and to how one acts as a leader. An effective leader possesses a strong sense of personal integrity and self confidence. This leads to a willingness to share the credit for success. Another side to this commitment is a deliberate emphasis on continual self-improvement.
The combination of a strong, positive commitment to self and to a set of principles serves as a foundation to effectively maintain the remaining four commitments. These commitments are to: customers, results, employees, and the organization.
Everyone has a customer and is a customer to someone else. Customers are usually thought of as external to the organization who needs your product or service. A question worth asking is, "How much are others willing to pay for my work?" The price your customers are willing to pay measures its values in their eyes.
Besides serving customers, all organizations target specific results. Given the large number of demands placed on all of us, it is important to concentrate on achieving the most important goals and objectives. Commitment to results is largely determined by how clear priorities are, what actions get rewarded, and what risks are being taken to improve intended results.
The next commitment is to the people. The quality of the organization's commitment to customers and results is largely based upon the quality of its commitment to people. The simple reason for this is that it is these people who serve the customer and achieve results. How are people treated in the organization? Commitment to people is largely the product of treating people with respect, challenging them, and giving them effective feedback on how they are doing.
The final leadership commitment is to the larger organization. Other departments, higher management, the organization's overall strategy & mission are important. Communication is the key with this commitment. How people talk to, and about, each other greatly affects the quality of cooperation. How open are the channels of communication up, down, and across? Can management be challenged? Will people support management decisions and changes?
Balancing all six commitments is the key to well directed leadership. When management supports its employees, they will be able and willing to achieve intended results, When these results support customer needs and expectations, customers will support the organization with their business. A strong and healthy organization can then continue to show commitment to its people. The glue that holds this process together is the values and leaders in the organization.
(Continued on next ZDT post...)
Thursday, June 24, 2010
Zillion Dollar Thinkers…Commitment
Thomas A. Edison
"He led no armies into battle, he conquered no countries, and he enslaved no peoples. Nonetheless, he exerted a degree of power the magnitude of which no warrior ever dreamed. His name still commands a respect as sweeping in scope and as world-wide as that of any other mortal. He had a devotion rooted deep in human gratitude and untainted by the bias that is often associated with race, color, politics, and religion."
"Thomas Edison was more responsible than any one else for creating the modern world. No one did more to shape the physical/cultural makeup of present day civilization. Accordingly, he was the most influential figure of the millennium"
Even with all the inventions and entrepreneurial successes, Edison demonstrated a living example of the road that few want to and are willing to travel. He had to endure many failures. Without resolute commitment, it is doubtful that he would have ever accomplished what he did.
Edison had 1,093 patents for different inventions. Many of them, like the light bulb, the phonograph, and the motion picture camera, were brilliant creations that have a huge influence on our everyday life. However, not everything he created was a success; he also had a few failures.
One concept that never took off was Edison's interest in using cement to build things. He formed the Edison Portland Cement Co. in 1899, and made everything from cabinets (for phonographs) to pianos and houses. Unfortunately, at the time, concrete was too expensive and the idea was never accepted. Cement wasn't a total failure, though. His company was hired to build Yankee Stadium in the Bronx. What else do you think Edison tried to create?
From the beginning of the creation of motion pictures, many people tried to combine film and sound to make "talking" motion pictures. Here you can see an example of an early film attempting to combine sound with pictures made by Edison's assistant, W.K.L. Dickson. By 1895, Edison had created the Kinetophone--a Kinetoscope (peep-hole motion picture viewer) with a phonograph that played inside the cabinet. Sound could be heard through two ear tubes while the viewer watched the images. This creation never really took off, and by 1915 Edison abandoned the idea of sound motion pictures.
The greatest failure of Edison's career was his inability to create a practical way to mine iron ore. He worked on mining methods through the late 1880s and early 1890s to supply the Pennsylvania steel mills' demand for iron ore. In order to finance this work, he sold all his stock in General Electric, but was never able to create a separator that could extract iron from unusable, low-grade ores. Eventually, Edison gave up on the idea, but by then he had lost all the money he'd invested.
Edison defined commitment.
"Be courageous! Whatever setbacks America has encountered, it has always emerged as a stronger and more prosperous nation....Be brave as your fathers before you. Have faith and go forward"
Thomas Alva Edison
"He led no armies into battle, he conquered no countries, and he enslaved no peoples. Nonetheless, he exerted a degree of power the magnitude of which no warrior ever dreamed. His name still commands a respect as sweeping in scope and as world-wide as that of any other mortal. He had a devotion rooted deep in human gratitude and untainted by the bias that is often associated with race, color, politics, and religion."
"Thomas Edison was more responsible than any one else for creating the modern world. No one did more to shape the physical/cultural makeup of present day civilization. Accordingly, he was the most influential figure of the millennium"
Even with all the inventions and entrepreneurial successes, Edison demonstrated a living example of the road that few want to and are willing to travel. He had to endure many failures. Without resolute commitment, it is doubtful that he would have ever accomplished what he did.
Edison had 1,093 patents for different inventions. Many of them, like the light bulb, the phonograph, and the motion picture camera, were brilliant creations that have a huge influence on our everyday life. However, not everything he created was a success; he also had a few failures.
One concept that never took off was Edison's interest in using cement to build things. He formed the Edison Portland Cement Co. in 1899, and made everything from cabinets (for phonographs) to pianos and houses. Unfortunately, at the time, concrete was too expensive and the idea was never accepted. Cement wasn't a total failure, though. His company was hired to build Yankee Stadium in the Bronx. What else do you think Edison tried to create?
From the beginning of the creation of motion pictures, many people tried to combine film and sound to make "talking" motion pictures. Here you can see an example of an early film attempting to combine sound with pictures made by Edison's assistant, W.K.L. Dickson. By 1895, Edison had created the Kinetophone--a Kinetoscope (peep-hole motion picture viewer) with a phonograph that played inside the cabinet. Sound could be heard through two ear tubes while the viewer watched the images. This creation never really took off, and by 1915 Edison abandoned the idea of sound motion pictures.
The greatest failure of Edison's career was his inability to create a practical way to mine iron ore. He worked on mining methods through the late 1880s and early 1890s to supply the Pennsylvania steel mills' demand for iron ore. In order to finance this work, he sold all his stock in General Electric, but was never able to create a separator that could extract iron from unusable, low-grade ores. Eventually, Edison gave up on the idea, but by then he had lost all the money he'd invested.
Edison defined commitment.
"Be courageous! Whatever setbacks America has encountered, it has always emerged as a stronger and more prosperous nation....Be brave as your fathers before you. Have faith and go forward"
Thomas Alva Edison
Wednesday, June 23, 2010
What Happens When You Avoid Making Decisions?
Author: Jacqueline Pigdon | Posted in Society
When you have a decision to make and don’t make it you are making a decision in itself…to put it off! Delaying decisions often puts you at risk of someone or something else making the decision for you. When you’re the decision maker and say leader of your corporate company or executive team and you are not making the decision then to put it simply you’re not doing your job.
The thing is once you have decided not to make a decision then it can become too late for you to decide. Usually when this happens it’s not the decision that you really wanted and you’re at a loss sometimes a very big loss. Then blame usually comes in that it wasn’t your fault or your choice and many people do this so they can’t be blamed for making the decision in case it turns out to be the wrong one.
But then the question is; who is directing and taking responsibility for your decisions both at work and in your personal life…you or everyone and everything else? We all make zillions of decisions everyday, at home and work, when out shopping etc. and just one of them could be the difference between happiness and unhappiness, success and failure, life and death…
People often think that their choices and thus decisions in life don’t really matter but where you are today is the direct result of all the decisions you have made to date. When you actually start making decisions you start to feel much more in control of your life, not so stressed about making decisions and it enables you to move forwards with speed and momentum compared to staying still wondering which way you should or shouldn’t go and thus often allowing life to pass you by or following decisions other people have made for you.
So don’t delay a minute longer! Here are 10 Top Tips to help you make the decisions you need to be making:
1. Sometimes you have to think on your feet so be prepared look ahead to what decisions may arise in the future. Doing this in a relaxed and clear state of mind can help a lot for when in the moment you can be negatively influenced or become stressed that you have to make it right now and then have no idea on what the right decision is.
2. Work out the pro’s and con’s of each outcome, get advice if and when you need it.
3. Ask yourself if I don’t make a decision now what could that result in? Regret that you didn’t take action when you could have? Or happy that you thought about it decided for yourself?
4. You may have already decided but have you acted upon that decision? For without action what good is the decision in itself?
5. Get advice from only trusted sources who have the same values and beliefs as you do. Don’t fall victim to asking absolutely everyone or someone who you don’t like the decisions they make for themselves.
6. Don’t make rash decisions especially if you have in the past and they’ve always failed. Look at your history when, how and what made you make your best and worst decisions in your life?
7. Ask yourself why are you REALLY putting off making a decision?
8. If you’ve made the wrong decision first acknowledge that you have for if you don’t you’ll just keep making the same ones. Quickly do what ever you can to rectify it.
9. Listen to your instinct, if you find you are telling yourself all the reasons why it won’t work out this can often be driven by fear. In comparison having to convince and justify why you should, could result in the wrong decision that you look back and ‘knew’ deep down it was wrong.
10. Remember sometimes the decision itself isn’t as important than actually just making one.
For more information contact Jacqueline Pigdon T: +61 (0) 404 362 379 E: jacqueline@jinalife.com
For full article and credits:
http://volumearticles.com/society/what-happens-when-you-avoid-making-decisions/
Author's ZDT SCORE: 70
When you have a decision to make and don’t make it you are making a decision in itself…to put it off! Delaying decisions often puts you at risk of someone or something else making the decision for you. When you’re the decision maker and say leader of your corporate company or executive team and you are not making the decision then to put it simply you’re not doing your job.
The thing is once you have decided not to make a decision then it can become too late for you to decide. Usually when this happens it’s not the decision that you really wanted and you’re at a loss sometimes a very big loss. Then blame usually comes in that it wasn’t your fault or your choice and many people do this so they can’t be blamed for making the decision in case it turns out to be the wrong one.
But then the question is; who is directing and taking responsibility for your decisions both at work and in your personal life…you or everyone and everything else? We all make zillions of decisions everyday, at home and work, when out shopping etc. and just one of them could be the difference between happiness and unhappiness, success and failure, life and death…
People often think that their choices and thus decisions in life don’t really matter but where you are today is the direct result of all the decisions you have made to date. When you actually start making decisions you start to feel much more in control of your life, not so stressed about making decisions and it enables you to move forwards with speed and momentum compared to staying still wondering which way you should or shouldn’t go and thus often allowing life to pass you by or following decisions other people have made for you.
So don’t delay a minute longer! Here are 10 Top Tips to help you make the decisions you need to be making:
1. Sometimes you have to think on your feet so be prepared look ahead to what decisions may arise in the future. Doing this in a relaxed and clear state of mind can help a lot for when in the moment you can be negatively influenced or become stressed that you have to make it right now and then have no idea on what the right decision is.
2. Work out the pro’s and con’s of each outcome, get advice if and when you need it.
3. Ask yourself if I don’t make a decision now what could that result in? Regret that you didn’t take action when you could have? Or happy that you thought about it decided for yourself?
4. You may have already decided but have you acted upon that decision? For without action what good is the decision in itself?
5. Get advice from only trusted sources who have the same values and beliefs as you do. Don’t fall victim to asking absolutely everyone or someone who you don’t like the decisions they make for themselves.
6. Don’t make rash decisions especially if you have in the past and they’ve always failed. Look at your history when, how and what made you make your best and worst decisions in your life?
7. Ask yourself why are you REALLY putting off making a decision?
8. If you’ve made the wrong decision first acknowledge that you have for if you don’t you’ll just keep making the same ones. Quickly do what ever you can to rectify it.
9. Listen to your instinct, if you find you are telling yourself all the reasons why it won’t work out this can often be driven by fear. In comparison having to convince and justify why you should, could result in the wrong decision that you look back and ‘knew’ deep down it was wrong.
10. Remember sometimes the decision itself isn’t as important than actually just making one.
For more information contact Jacqueline Pigdon T: +61 (0) 404 362 379 E: jacqueline@jinalife.com
For full article and credits:
http://volumearticles.com/society/what-happens-when-you-avoid-making-decisions/
Author's ZDT SCORE: 70
Tuesday, June 22, 2010
Zillion Dollar Thought
“Our tongue is the only muscle in our body that is attached at only one end. Over our lifetime, we use it about a zillion times…Hopefully, we will use it wisely.”
Monday, June 21, 2010
Decision Articles ZDT Scoring System
In the book Zillion Dollar Thinking, the MODELTM for Intelligent Decision Making depicts four distinct steps. Each of the steps should be followed in a bottom up sequence. They are simple and easily identified. Specifically in order, they are:
Step One: Due Diligence
Step Two: Commitment
Step Three: Solution
Step Four: Action
In the ZDT book (which we encourage you to order), there are calculators on each of these steps that deal with the actual decision made at each level. But, for our purposes of weighing and reviewing various articles, posts and periodicals through this blog, please consider the following new formula:
For each step, assign a weight from 0 to 25. Zero would be the least credit, and 25 would be the maximum. So, when we evaluate specific articles based on the four steps in sequence, we can give them a grade or score [0 to 100] that can help in your (and our) assessment of it’s effectiveness in a decision making capacity. Of course, your viewpoint may differ from ours, but the important issue is that you think through the exercise which can lead to more objectivity of your evaluation. It’s that simple.
Ground Rules of “ZDT SCORE:”
0 to 50 = Not Effective
50-70 = Somewhat Effective
70-90 = Effective
90-100 = Highly Effective
Since we will begin to evaluate/score various entries going forward, you may want to bookmark this page (“ZDT SCORE”) to keep this formula in mind. We will keep an exclusive log of all the “highly effective” posts. We will be interested in your feedback.
To start this process, try this example…see the full article:
http://advancedlifeskills.com/blog/harness-the-power-of-decisions/
Our ZDT SCORE: 90
What do you think?
Step One: Due Diligence
Step Two: Commitment
Step Three: Solution
Step Four: Action
In the ZDT book (which we encourage you to order), there are calculators on each of these steps that deal with the actual decision made at each level. But, for our purposes of weighing and reviewing various articles, posts and periodicals through this blog, please consider the following new formula:
For each step, assign a weight from 0 to 25. Zero would be the least credit, and 25 would be the maximum. So, when we evaluate specific articles based on the four steps in sequence, we can give them a grade or score [0 to 100] that can help in your (and our) assessment of it’s effectiveness in a decision making capacity. Of course, your viewpoint may differ from ours, but the important issue is that you think through the exercise which can lead to more objectivity of your evaluation. It’s that simple.
Ground Rules of “ZDT SCORE:”
0 to 50 = Not Effective
50-70 = Somewhat Effective
70-90 = Effective
90-100 = Highly Effective
Since we will begin to evaluate/score various entries going forward, you may want to bookmark this page (“ZDT SCORE”) to keep this formula in mind. We will keep an exclusive log of all the “highly effective” posts. We will be interested in your feedback.
To start this process, try this example…see the full article:
http://advancedlifeskills.com/blog/harness-the-power-of-decisions/
Our ZDT SCORE: 90
What do you think?
Thursday, June 17, 2010
Decisions and Commitment
When taking that trip to the altar, whom would you like to meet there? Someone who loves you and has made a decision to marry you, or someone who loves you and has made a decision to be married to you for the rest of your lives? Over 97% of those surveyed would answer to the latter, being married to the one you love and having that last for the rest of your life. So, then, why do so many marriages end in divorce? It is the same answer as to why some individuals change jobs frequently, some folks change the furniture every week, and some people join your organization only to go to something else within a month or less.
Millions want to enjoy the companionship and closeness of family life, but sadly, only a few will make the commitment to see marriage through to fulfillment. Likewise, many want the freedom of finances and time that MLM affords, but few will make the commitment to do the work, blaze the trail, and endure the hardships of building until it is what they dream of. Decisions although the seedlings of a successful business, are merely the first step in growing what you need and want to support your dreams and goals of the future. You are only as strong as the commitments that you make and keep during your journey through this life.
Would you really like to know how you got where you are today, for better or worse?
Take a look, first, at your decisions, but then seriously meditate on your commitments. The commitments that you have made in the past have all added up to where you are RIGHT NOW! Bad decisions produce bad results; good decisions that transform into commitments will get you where you want to be, guaranteed. Goals are easily transformed into reality when one makes a commitment to achieve, provides a plan to follow for oneself, and heartily goes about taking the steps with zeal and inspiration. Do you lack inspiration? Speak to the person or persons that you know who refuse to quit on the things that they commit themselves to. Set up your own support group. Everyone should have an inspirational figure in his or her life. If you do not, it is not too late to begin now, today!
Now, focus your vision on the completion of your dreams. Realign your focus daily, sometimes hourly, if needed, but keep your focus where it needs to be. Solicit help in setting up a daily plan; if you have trouble organizing your time; find someone who can help you. The commitment must begin with YOU, but you can and will find those to help you keep your commitment, if you have truly made a commitment. See you at the top!
For the full article and credits:
http://www.professionalnetworkers.com/members/s_tip73.html
Millions want to enjoy the companionship and closeness of family life, but sadly, only a few will make the commitment to see marriage through to fulfillment. Likewise, many want the freedom of finances and time that MLM affords, but few will make the commitment to do the work, blaze the trail, and endure the hardships of building until it is what they dream of. Decisions although the seedlings of a successful business, are merely the first step in growing what you need and want to support your dreams and goals of the future. You are only as strong as the commitments that you make and keep during your journey through this life.
Would you really like to know how you got where you are today, for better or worse?
Take a look, first, at your decisions, but then seriously meditate on your commitments. The commitments that you have made in the past have all added up to where you are RIGHT NOW! Bad decisions produce bad results; good decisions that transform into commitments will get you where you want to be, guaranteed. Goals are easily transformed into reality when one makes a commitment to achieve, provides a plan to follow for oneself, and heartily goes about taking the steps with zeal and inspiration. Do you lack inspiration? Speak to the person or persons that you know who refuse to quit on the things that they commit themselves to. Set up your own support group. Everyone should have an inspirational figure in his or her life. If you do not, it is not too late to begin now, today!
Now, focus your vision on the completion of your dreams. Realign your focus daily, sometimes hourly, if needed, but keep your focus where it needs to be. Solicit help in setting up a daily plan; if you have trouble organizing your time; find someone who can help you. The commitment must begin with YOU, but you can and will find those to help you keep your commitment, if you have truly made a commitment. See you at the top!
For the full article and credits:
http://www.professionalnetworkers.com/members/s_tip73.html
Wednesday, June 16, 2010
No commitment…No decision?
In the book Zillion Dollar Thinking, the MODELTM System depicts four simple and contiguous steps. The second step in the model is critical but often overlooked.
Here is an excerpt from pp.27-28…
“The step of commitment is the one most likely to be omitted from any form of decision making. Why? We generally have a hard time confronting the simple word and the act of "commitment." Why is the marriage proposal so hard for many people? I suggest that it is not the prospect of rejection that looms so large, but rather the enduring lifetime commitment that is attached to the wedding vows. (As the word "commitment" is vital in marriage, it is also vital in the military, team sports, skydiving, firefighting, and many other endeavors. It is just as critical here in this MODELTM.)
That said, in most any decision-making process, the critical step of commitment is avoided for the same reasons. Many times the word commitment invokes feelings relating to sensitive subjects such as sacrifice, pledge, bond, vow, individual character, endurance, performance, and on and on. In other words, this step should have a do or die attitude or attachment to it. In fact, the dictionary meaning is: "an obligation to fulfill...a promise to act upon...a duty to achieve...a responsibility...a guarantee...a trusted action...a steadfast purpose."
Considering this, the next few posts will concentrate on the value and critical position that commitment makes in decision making…
According to Peter Drucker (The Essential Drucker: The Best of Sixty Years of Peter Drucker’s Essential Writings on Management), simply making decisions doesn’t help if they aren’t actionable:
Decisions are not effective without action Commitments
“Converting the decision into action is the fourth major element in the decision process. While thinking through the boundary conditions is the most difficult step in decision-making, converting the decisions into effective action is usually the most time-consuming one. Yet a decision will not become effective unless the action commitments have been built into the decision from the start.”
Until There’s Work Assignments...There’s Only Good Intentions
Drucker says it’s actions that count:
“In fact, no decision has been made unless carrying it out in specific commitment steps have become someone’s work assignment and responsibility. Until then, there are only good intentions.”
A Declaration of What You’re Not Going to Do
Drucker further tells us why people doubt policy statements:
That is the trouble with so many policy statements, especially of business is that they contain no action commitment. To carry them out is no one’s specific work and responsibility. No wonder that the people in the organization tend to view these statements cynically if not as declarations of what top management is really not going to do.
For full article and credits:
http://sourcesofinsight.com/2008/05/15/action-commitments/
Author’s comment:
“Sound familiar?”
Here is an excerpt from pp.27-28…
“The step of commitment is the one most likely to be omitted from any form of decision making. Why? We generally have a hard time confronting the simple word and the act of "commitment." Why is the marriage proposal so hard for many people? I suggest that it is not the prospect of rejection that looms so large, but rather the enduring lifetime commitment that is attached to the wedding vows. (As the word "commitment" is vital in marriage, it is also vital in the military, team sports, skydiving, firefighting, and many other endeavors. It is just as critical here in this MODELTM.)
That said, in most any decision-making process, the critical step of commitment is avoided for the same reasons. Many times the word commitment invokes feelings relating to sensitive subjects such as sacrifice, pledge, bond, vow, individual character, endurance, performance, and on and on. In other words, this step should have a do or die attitude or attachment to it. In fact, the dictionary meaning is: "an obligation to fulfill...a promise to act upon...a duty to achieve...a responsibility...a guarantee...a trusted action...a steadfast purpose."
Considering this, the next few posts will concentrate on the value and critical position that commitment makes in decision making…
According to Peter Drucker (The Essential Drucker: The Best of Sixty Years of Peter Drucker’s Essential Writings on Management), simply making decisions doesn’t help if they aren’t actionable:
Decisions are not effective without action Commitments
“Converting the decision into action is the fourth major element in the decision process. While thinking through the boundary conditions is the most difficult step in decision-making, converting the decisions into effective action is usually the most time-consuming one. Yet a decision will not become effective unless the action commitments have been built into the decision from the start.”
Until There’s Work Assignments...There’s Only Good Intentions
Drucker says it’s actions that count:
“In fact, no decision has been made unless carrying it out in specific commitment steps have become someone’s work assignment and responsibility. Until then, there are only good intentions.”
A Declaration of What You’re Not Going to Do
Drucker further tells us why people doubt policy statements:
That is the trouble with so many policy statements, especially of business is that they contain no action commitment. To carry them out is no one’s specific work and responsibility. No wonder that the people in the organization tend to view these statements cynically if not as declarations of what top management is really not going to do.
For full article and credits:
http://sourcesofinsight.com/2008/05/15/action-commitments/
Author’s comment:
“Sound familiar?”
Tuesday, June 15, 2010
The Problem or Opportunity of Decisions
Active decision-making involves a responsible choice that you must make, while pro-active decision making is the practice of making decisions in advance just like "in the case of fire".
Decision Problems or Decision Opportunities: At one time or another, organizations develop an over-abundance of decision problems. Sometimes they can be linked to organizational trauma, like downsizing, budget restraints or workload increases, but sometimes they evolve over time with no apparent triggering event. Increased complaining, a focus on reasons why things can't be done, and what seems to be a lack of active role characterize the "problem" organization. If the manager is walking negative and talking in a negative way, staff will follow.
In many instances we forget to find positives. When an employee makes an impractical solution, we are quick to dismiss the idea. We should be identifying the effort while gently discussing the idea. Look for small victories, and talk about them. Turning a problem into an opportunity is a result of many little actions. Provide positive recognition as soon as you find out about good performance. Do not couple positive strokes with suggestions for improvement. Separate them. Combining them devalues the recognition for many people. It is easy to get caught in the general complaining and bitching, particularly in customers' complains.
Decisions are an inevitable part of human activities. It requires the right attitude. Every problem, properly perceived, becomes an opportunity. In most situations the decision-maker must view the problems as opportunities rather than solving problems. For example, suppose you receive a serious complaint letter from a dissatisfied customer. You may turn this problem into an opportunity by finding out more about what is wrong with the product/service, learning from the customer's experience in order to improve the quality of your product/service. It all depends on the decision-maker's attitude. A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.
Each problem has hidden in it an opportunity so powerful that it literally dwarfs the problem. The greatest success stories were created by people who recognized a problem and turned it into an opportunity.
A deliberate effort to broaden your experiences is the single most helpful effort in making good decisions. By exposing yourself to a variety of different experiences causes you to look at things from different perspectives. This provides you with extra mind-eyes to see problems and issues, and compare them to apparently unrelated situations and see new opportunities.
For full article and credits:
http://home.ubalt.edu/ntsbarsh/opre640/partXIII.htm#rlearngood
Author’s Comments:
From the book “Zillion Dollar Thinking” the MODELTM System provides four distinct steps. The first and most vital step is the distinction of problem versus opportunity:
“At the beginning or first stage of any decision is the question of why or if one should spend their time and/or talent to make the particular decision that is set before them. At this stage, a dilemma can have several fundamental labels such as problem, challenge, goal, direction, purchase, issue, opportunity or any of a wide number of platforms or options. For our standard, let's use the positive word of opportunity.
The key point at the opportunity stage is to take whatever time and research that is necessary to determine that a decision in fact needs to be made. This is done by defining, analyzing and categorizing the opportunity. If this step is brushed over or made to seem incidental, each step that follows will break down. Again, look at the base. It is the largest part of the graphic shape for a reason. That is because the largest amount of time (relative to the other steps) should be spent at this level to determine, define and discover what really needs to be decided.” (Zillion Dollar Thinking: pp: 23)
Decision Problems or Decision Opportunities: At one time or another, organizations develop an over-abundance of decision problems. Sometimes they can be linked to organizational trauma, like downsizing, budget restraints or workload increases, but sometimes they evolve over time with no apparent triggering event. Increased complaining, a focus on reasons why things can't be done, and what seems to be a lack of active role characterize the "problem" organization. If the manager is walking negative and talking in a negative way, staff will follow.
In many instances we forget to find positives. When an employee makes an impractical solution, we are quick to dismiss the idea. We should be identifying the effort while gently discussing the idea. Look for small victories, and talk about them. Turning a problem into an opportunity is a result of many little actions. Provide positive recognition as soon as you find out about good performance. Do not couple positive strokes with suggestions for improvement. Separate them. Combining them devalues the recognition for many people. It is easy to get caught in the general complaining and bitching, particularly in customers' complains.
Decisions are an inevitable part of human activities. It requires the right attitude. Every problem, properly perceived, becomes an opportunity. In most situations the decision-maker must view the problems as opportunities rather than solving problems. For example, suppose you receive a serious complaint letter from a dissatisfied customer. You may turn this problem into an opportunity by finding out more about what is wrong with the product/service, learning from the customer's experience in order to improve the quality of your product/service. It all depends on the decision-maker's attitude. A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.
Each problem has hidden in it an opportunity so powerful that it literally dwarfs the problem. The greatest success stories were created by people who recognized a problem and turned it into an opportunity.
A deliberate effort to broaden your experiences is the single most helpful effort in making good decisions. By exposing yourself to a variety of different experiences causes you to look at things from different perspectives. This provides you with extra mind-eyes to see problems and issues, and compare them to apparently unrelated situations and see new opportunities.
For full article and credits:
http://home.ubalt.edu/ntsbarsh/opre640/partXIII.htm#rlearngood
Author’s Comments:
From the book “Zillion Dollar Thinking” the MODELTM System provides four distinct steps. The first and most vital step is the distinction of problem versus opportunity:
“At the beginning or first stage of any decision is the question of why or if one should spend their time and/or talent to make the particular decision that is set before them. At this stage, a dilemma can have several fundamental labels such as problem, challenge, goal, direction, purchase, issue, opportunity or any of a wide number of platforms or options. For our standard, let's use the positive word of opportunity.
The key point at the opportunity stage is to take whatever time and research that is necessary to determine that a decision in fact needs to be made. This is done by defining, analyzing and categorizing the opportunity. If this step is brushed over or made to seem incidental, each step that follows will break down. Again, look at the base. It is the largest part of the graphic shape for a reason. That is because the largest amount of time (relative to the other steps) should be spent at this level to determine, define and discover what really needs to be decided.” (Zillion Dollar Thinking: pp: 23)
Monday, June 14, 2010
Decisions Reveal Your Character
As a Chiropreneur who strives to grow your practice, you are faced with decisions continuously. As the leader of your practice, you must make decisions on a wide-range of issues affecting your employees, marketing, financial, patient care and the rest of the stuff needed to continue operating your practice.
What you may not realize is the decisions you make is not a decision about what to do next, but each and every decision is about who you are… your character.
If you decide not to shoplift an item because the lines were too long at the cashier, the decision wasn’t to get into line, but, it was a reflection on your sense of honesty.
If you decide to arrive late to the office, forcing patients to wait for your arrival, the decision wasn’t about lingering a little longer with your family, but reflects who are are in terms of your commitment to your practice.
The decision to hire or fire goes beyond what to do next, but reflects your higher-goal of delivering exceptional service on each and every visit.
When you understand this principle, you will begin to make different and better decisions. All events, activities, and situations will become opportunities for having a profound impact on your practice. As you become more aware of your decisions you will experience a visceral reaction that will move you closer to alignment with your values and vision.
Choosing decisions that support your higher-purpose, decisions that reflect your inner-self and decisions that showcase your leadership skills will enable you to make better decisions. Change your focus from what to do next to who you are and you will experience enhanced results from your decisions. Choosing to cause things to happen, will put you head and shoulder above your competitive colleagues.
Peak your practice with the right decisions.
Author's Note:
As we research multiple sources (data mining) on our subject, we discover some gems from time to time...this would be one. While this is addressed to a specific sector, the message has broad applications. It is also well stated...to the point and simple. While the author remains anonymous, our sincere thanks goes out to the source of this post.
What you may not realize is the decisions you make is not a decision about what to do next, but each and every decision is about who you are… your character.
If you decide not to shoplift an item because the lines were too long at the cashier, the decision wasn’t to get into line, but, it was a reflection on your sense of honesty.
If you decide to arrive late to the office, forcing patients to wait for your arrival, the decision wasn’t about lingering a little longer with your family, but reflects who are are in terms of your commitment to your practice.
The decision to hire or fire goes beyond what to do next, but reflects your higher-goal of delivering exceptional service on each and every visit.
When you understand this principle, you will begin to make different and better decisions. All events, activities, and situations will become opportunities for having a profound impact on your practice. As you become more aware of your decisions you will experience a visceral reaction that will move you closer to alignment with your values and vision.
Choosing decisions that support your higher-purpose, decisions that reflect your inner-self and decisions that showcase your leadership skills will enable you to make better decisions. Change your focus from what to do next to who you are and you will experience enhanced results from your decisions. Choosing to cause things to happen, will put you head and shoulder above your competitive colleagues.
Peak your practice with the right decisions.
Author's Note:
As we research multiple sources (data mining) on our subject, we discover some gems from time to time...this would be one. While this is addressed to a specific sector, the message has broad applications. It is also well stated...to the point and simple. While the author remains anonymous, our sincere thanks goes out to the source of this post.
Saturday, June 12, 2010
Zillion Dollar Thought
"A million dollars weighs in at roughly 1.1 US tons. A trillion dollars weighs 1.1million tons or 2,200,000,000 Pounds…a Zillion dollars weighs?"
Friday, June 4, 2010
Buyer’s Remorse or Bad Decision?
Buyer's remorse is the term given to the feeling a person often gets after making a large purchase or decision. Although excited at the time of the purchase, once they've spent a lot of money, many people feel a deep regret and concern that they made the wrong decision, referred to as buyer's remorse.
Buyer's remorse takes many different forms, most of them typified by a high level of anxiety, usually about having made the wrong decision. Sometimes buyer's remorse strikes when a person makes a purchase they may not have actually had the money or credit for, and after buying it they begin to realize that they were living well outside of their means, and worry begins to grow over the consequences. This is especially true of purchases such as buying a new home, which is one of the most common triggers for buyer's remorse, due in no small part to the huge amounts of money usually involved.
Buyer's remorse may also focus on the worry that a purchase was made at the wrong time, and that by waiting a better deal could be had. This type of buyer's remorse is especially common in the technology sector, and in automobiles, where new generations of products are released regularly. A person might make a purchase and then immediately begin wishing they had waited for the next generation to come out, as their product will soon be outdated. This type of buyer's remorse is largely unfounded, since the same case can be made at any point in time, as new generations are constantly being rolled out. It is especially prevalent when a new generation of a product is immediately released, however, leading the buyer to wish they had waited a week or two before committing to a purchase.
Buyer's remorse may also express itself as extreme guilt over the buying act itself. Especially with people who may have a problem with over-consumption, after making a purchase they may begin to feel regret for having once again succumbed to an addiction. This may also manifest as a concern for how others will view their purchases, especially if they may easily be viewed as frivolous or in bad judgment.
Psychologically, buyer's remorse makes perfect sense. A consumer switches from one state to another when making a purchase, where the state before they've made the purchase has enormous positive influence, and the purchase afterward loses a great deal of that. Before making a purchase, a buyer is faced with a great deal of choices, giving them a sense of agency and power in the world. They have money or credit to spend, and get to exert their dominance over the marketplace by placing their purchasing power.
After the purchase, however, all options have vanished. Buyer's remorse may set in as they see themselves locked into a single decision, which may or may not have been the best, and seek their purchasing power reduced. No longer acting from a position of control, many people react by seeking to distance themselves from the purchasing act, to reaffirm their sense of having had a wide field of choices. Buyer's remorse is, in this way, seen as a very simple state of cognitive dissonance, where the desire to retain complete control and infinite possibilities clashes with the reality of actually exerting that control by limiting those possibilities.
For the full article and credits:
Written by Brendan McGuigan
http://www.wisegeek.com/what-is-buyers-remorse.htm
Author’s note…"Antidote to buyer’s remorse:"
One of the most repeated mistakes in decision making (that leads to buyer’s remorse) is the lack of a model, system or process that keeps the decision on a more objective basis.
The MODELTM System was designed for that very purpose. Again, it has four simple and distinctive steps. When you run the decision through this model in progression and as prescribed, your final outcome has a much better opportunity to not result in buyer’s remorse. Next time you are faced with a decision that you even remotely believe could result in buyer’s remorse…Please email me, and I will send you the formula.
(See: About the Author for email)
Buyer's remorse takes many different forms, most of them typified by a high level of anxiety, usually about having made the wrong decision. Sometimes buyer's remorse strikes when a person makes a purchase they may not have actually had the money or credit for, and after buying it they begin to realize that they were living well outside of their means, and worry begins to grow over the consequences. This is especially true of purchases such as buying a new home, which is one of the most common triggers for buyer's remorse, due in no small part to the huge amounts of money usually involved.
Buyer's remorse may also focus on the worry that a purchase was made at the wrong time, and that by waiting a better deal could be had. This type of buyer's remorse is especially common in the technology sector, and in automobiles, where new generations of products are released regularly. A person might make a purchase and then immediately begin wishing they had waited for the next generation to come out, as their product will soon be outdated. This type of buyer's remorse is largely unfounded, since the same case can be made at any point in time, as new generations are constantly being rolled out. It is especially prevalent when a new generation of a product is immediately released, however, leading the buyer to wish they had waited a week or two before committing to a purchase.
Buyer's remorse may also express itself as extreme guilt over the buying act itself. Especially with people who may have a problem with over-consumption, after making a purchase they may begin to feel regret for having once again succumbed to an addiction. This may also manifest as a concern for how others will view their purchases, especially if they may easily be viewed as frivolous or in bad judgment.
Psychologically, buyer's remorse makes perfect sense. A consumer switches from one state to another when making a purchase, where the state before they've made the purchase has enormous positive influence, and the purchase afterward loses a great deal of that. Before making a purchase, a buyer is faced with a great deal of choices, giving them a sense of agency and power in the world. They have money or credit to spend, and get to exert their dominance over the marketplace by placing their purchasing power.
After the purchase, however, all options have vanished. Buyer's remorse may set in as they see themselves locked into a single decision, which may or may not have been the best, and seek their purchasing power reduced. No longer acting from a position of control, many people react by seeking to distance themselves from the purchasing act, to reaffirm their sense of having had a wide field of choices. Buyer's remorse is, in this way, seen as a very simple state of cognitive dissonance, where the desire to retain complete control and infinite possibilities clashes with the reality of actually exerting that control by limiting those possibilities.
For the full article and credits:
Written by Brendan McGuigan
http://www.wisegeek.com/what-is-buyers-remorse.htm
Author’s note…"Antidote to buyer’s remorse:"
One of the most repeated mistakes in decision making (that leads to buyer’s remorse) is the lack of a model, system or process that keeps the decision on a more objective basis.
The MODELTM System was designed for that very purpose. Again, it has four simple and distinctive steps. When you run the decision through this model in progression and as prescribed, your final outcome has a much better opportunity to not result in buyer’s remorse. Next time you are faced with a decision that you even remotely believe could result in buyer’s remorse…Please email me, and I will send you the formula.
(See: About the Author for email)
Thursday, June 3, 2010
5 Tips to Avoid Bad Decisions
Re-Posted with Permission By Robert Pagliarini
The holocaust never happened. The moon landing was staged. And Sex and the City 2 is a great movie. How do I know this? I did a Google search. No matter what your position, you can find support. The lesson? Be careful what you ask, or maybe more appropriately, be careful how you ask. In psychology, the term for this is confirmation bias and it can have damaging consequences for your finances and your life if you’re not careful.
Nobody likes to be wrong, so we’ll actively try to find support for our existing beliefs. We’ll scour the web to try to find anybody saying anything that remotely resembles our own beliefs. “Well, how can I be wrong when blogger ‘iheartcarrie’ clearly agrees with me?” we ask.
The problem with confirmation bias is that you selectively filter what information you choose to pay attention to and value. So not only will you actively look for evidence and seek experts that confirm your existing beliefs, but even more pernicious, you’ll hide from or discredit any information that contradicts your viewpoint. This can cause you to dump money into a failing business, time into a bad relationship, or even to stay in a stock too long.
For example, let’s say after watching the stock market go up and up and up over the past year, you decided to jump back in a month ago (woops). Now you’re fully invested and you’ve just seen the market drop 10%. If you’re suffering from confirmation bias, instead of rationally evaluating the long-term economic and financial outlook of the U.S. and global economy, you may selectively read just those blogs or columns that are bullish. If you come across an article that is bearish, you’ll dismiss it, or maybe not even read it.
Confirmation bias isn’t just a problem for investors. It’s a problem you need to be aware of when looking for a spouse, starting a business, interviewing for a new job, managing people, and any other situation where a supply of fresh information can help you make better decisions.
Confirmation bias is very difficult to recognize, but here are five tips you can use to help minimize this cognitive distortion:
Remove your ego. At its root, confirmation bias is an ego disease. We hate to be wrong and we’re desperate for others to validate our position. Seek the truth over being right, because if you disregard the truth long enough, you’ll eventually be proven wrong anyway.
Seek disagreement. Foster an environment where it is not only okay to disagree but encouraged. Asking friends, family, and employees “Am I right?” will likely get only those who agree with you to speak up. A better question is, “Why am I wrong?” At meetings, require everyone to play devil’s advocate. Early on it might be difficult to get this kind of feedback from others because they’re probably not used to thinking about why you’re wrong (well, at least verbalizing it), so turn it into a game and reward the best answers.
Ask better questions. One of the most worthless questions to ask a friend or co-worker is “How do you think I did?” It’s worthless because you’ll never get any constructive feedback. A much better question is “What could I have done differently to make it better?” By changing the question ever so slightly, you’ll be shocked at the honest advice you’ll hear.
Keep information channels open. Constantly seek alternative views and opinions in print, on TV, and in person. That might mean visiting websites, reading newspapers, and watching shows that you’ve previously avoided. Remember, seek the truth, not evidence that you’re right.
Google better. Don’t search what you want to prove, because with over 3 billion web pages, you’re bound to find one that agrees with you. Instead, use open-ended searches that aren’t biased.
For the full article and credits:
http://moneywatch.bnet.com/career-advice/blog/other-8-hours/5-tips-to-avoid-bad-decisions/1440/
Author’s comment:
In all, this is a very good concept. It fits right under Step #One (of the four steps of the MODELTM) in the category of due diligence. As he mentioned, we can Google (or use any other search mechanics) and find millions of results on about any subject (like decision making). But to save you time and effort, we hope you will make our Zillion Dollar Thinking Blog your” Go To” resource where we are dedicated to filtering and distilling the subject of decision making at every level.
The holocaust never happened. The moon landing was staged. And Sex and the City 2 is a great movie. How do I know this? I did a Google search. No matter what your position, you can find support. The lesson? Be careful what you ask, or maybe more appropriately, be careful how you ask. In psychology, the term for this is confirmation bias and it can have damaging consequences for your finances and your life if you’re not careful.
Nobody likes to be wrong, so we’ll actively try to find support for our existing beliefs. We’ll scour the web to try to find anybody saying anything that remotely resembles our own beliefs. “Well, how can I be wrong when blogger ‘iheartcarrie’ clearly agrees with me?” we ask.
The problem with confirmation bias is that you selectively filter what information you choose to pay attention to and value. So not only will you actively look for evidence and seek experts that confirm your existing beliefs, but even more pernicious, you’ll hide from or discredit any information that contradicts your viewpoint. This can cause you to dump money into a failing business, time into a bad relationship, or even to stay in a stock too long.
For example, let’s say after watching the stock market go up and up and up over the past year, you decided to jump back in a month ago (woops). Now you’re fully invested and you’ve just seen the market drop 10%. If you’re suffering from confirmation bias, instead of rationally evaluating the long-term economic and financial outlook of the U.S. and global economy, you may selectively read just those blogs or columns that are bullish. If you come across an article that is bearish, you’ll dismiss it, or maybe not even read it.
Confirmation bias isn’t just a problem for investors. It’s a problem you need to be aware of when looking for a spouse, starting a business, interviewing for a new job, managing people, and any other situation where a supply of fresh information can help you make better decisions.
Confirmation bias is very difficult to recognize, but here are five tips you can use to help minimize this cognitive distortion:
Remove your ego. At its root, confirmation bias is an ego disease. We hate to be wrong and we’re desperate for others to validate our position. Seek the truth over being right, because if you disregard the truth long enough, you’ll eventually be proven wrong anyway.
Seek disagreement. Foster an environment where it is not only okay to disagree but encouraged. Asking friends, family, and employees “Am I right?” will likely get only those who agree with you to speak up. A better question is, “Why am I wrong?” At meetings, require everyone to play devil’s advocate. Early on it might be difficult to get this kind of feedback from others because they’re probably not used to thinking about why you’re wrong (well, at least verbalizing it), so turn it into a game and reward the best answers.
Ask better questions. One of the most worthless questions to ask a friend or co-worker is “How do you think I did?” It’s worthless because you’ll never get any constructive feedback. A much better question is “What could I have done differently to make it better?” By changing the question ever so slightly, you’ll be shocked at the honest advice you’ll hear.
Keep information channels open. Constantly seek alternative views and opinions in print, on TV, and in person. That might mean visiting websites, reading newspapers, and watching shows that you’ve previously avoided. Remember, seek the truth, not evidence that you’re right.
Google better. Don’t search what you want to prove, because with over 3 billion web pages, you’re bound to find one that agrees with you. Instead, use open-ended searches that aren’t biased.
For the full article and credits:
http://moneywatch.bnet.com/career-advice/blog/other-8-hours/5-tips-to-avoid-bad-decisions/1440/
Author’s comment:
In all, this is a very good concept. It fits right under Step #One (of the four steps of the MODELTM) in the category of due diligence. As he mentioned, we can Google (or use any other search mechanics) and find millions of results on about any subject (like decision making). But to save you time and effort, we hope you will make our Zillion Dollar Thinking Blog your” Go To” resource where we are dedicated to filtering and distilling the subject of decision making at every level.
Wednesday, June 2, 2010
Memorial Day...Every Day
The reason we are posting this after the day…
There are Birthdays, Mom’s Days, Dad’s Days, Easter Days, Christmas Days as well as countless other significant days. Often, once the event day has passed, we tend to let the memory fade into the background. So, after this Memorial Day…
I want to do better by them every day.
Like many, I’ve been around long enough to witness the brave heroics of our uniformed sons and daughters in our offense and defense. This, in a time, when there are serious questions about the decisions at various levels that are being made as to who, what, when, where, and how our troops may be placed in harms way.
In light of these special troops’s devotion, hopefully we will celebrate their sacrificial commitment more on a daily basis. We go to ball games and sit on the sidelines and scream and yell our brains out…all for someone to gain a point of some kind. In contrast, we are sitting on another sideline. Do we have the same passion and emotion to express a loud thanks for our troops as they gain points for our continued freedom?
Personally, I want to do better by them every day.
In the process of how they had to decide on this career…here are the individual steps compared to the MODELTM.
#1- Opportunity: To serve their country (unselfishly)
#2- Commitment: The ultimate (if required)
#3- Solution: Enlist on purpose (voluntarily)
#4- Action: Go and serve where required (unquestionably)
This adds up to a life decision well done.
Please accept our heartfelt thanks and appreciation to all of you.
Freedom is not free.
There are Birthdays, Mom’s Days, Dad’s Days, Easter Days, Christmas Days as well as countless other significant days. Often, once the event day has passed, we tend to let the memory fade into the background. So, after this Memorial Day…
I want to do better by them every day.
Like many, I’ve been around long enough to witness the brave heroics of our uniformed sons and daughters in our offense and defense. This, in a time, when there are serious questions about the decisions at various levels that are being made as to who, what, when, where, and how our troops may be placed in harms way.
In light of these special troops’s devotion, hopefully we will celebrate their sacrificial commitment more on a daily basis. We go to ball games and sit on the sidelines and scream and yell our brains out…all for someone to gain a point of some kind. In contrast, we are sitting on another sideline. Do we have the same passion and emotion to express a loud thanks for our troops as they gain points for our continued freedom?
Personally, I want to do better by them every day.
In the process of how they had to decide on this career…here are the individual steps compared to the MODELTM.
#1- Opportunity: To serve their country (unselfishly)
#2- Commitment: The ultimate (if required)
#3- Solution: Enlist on purpose (voluntarily)
#4- Action: Go and serve where required (unquestionably)
This adds up to a life decision well done.
Please accept our heartfelt thanks and appreciation to all of you.
Freedom is not free.
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