As COVID-19 drags on, smaller businesses face different challenges now than when things began in the spring. By Mike Porter Special to the Star Tribune OCTOBER 4, 2020 — 2:46PM Q: What can I do to be as successful as possible in leading my company through the pandemic? A: As COVID-19 drags on, smaller businesses face different challenges…
Once in the business, following the franchiser system becomes central to success. By Mike Porter Special to the Star Tribune SEPTEMBER 26, 2020 — 6:33AM Q: What are some of the best practices of starting and building a franchise business? A: Franchising represents a specialized area of business. Many options exist for kinds of businesses to consider,…
By Glenn Karwoski SEPTEMBER 22, 2020 — 2:43PM Q: What are some examples of businesses that creatively pivoted during the pandemic? A: Businesses are always in the process of reinventing themselves, whether intentionally or in response to events and circumstances. There’s no better example of reinvention and forced innovation than what has transpired during the past six months.…
By Marcella de la Torre Special to the Star Tribune DECEMBER 6, 2020 — 2:00PM Q: Why is it important to invest in visioning and strategy to help manage change? A: Change is very difficult. It is frightening and at the same time unsettling. When there is a lack of vision and strategy, change is even harder to manage.…
The self-serving bias causes us to see things in ways that support our best interests and our pre-existing points of view.
The overconfidence bias is our tendency to be more confident in our ability to act ethically than is objectively justified by our abilities and moral character.
We hate losses about twice as much as we enjoy gains, meaning we are more likely to act unethically to avoid a loss than to secure a gain. This phenomenon is known as loss aversion.
Moral decision making is the ability to produce a reasonable and defensible answer to an ethical question. If you have not yet seen Part 1 on Moral Awareness, you can watch that video here. This video discusses how to apply those lessons. Here are links to the entire Being Your Best Self series:
BY ETHICAL SYSTEMS It is easy to see the faults of others, but difficult to see one’s own faults. One shows the faults of others like chaff winnowed in the wind, but one conceals one’s own faults as a cunning gambler conceals his dice. (Buddha, the Dhammapada) Why do you see the speck in your neighbor’s…
An Ethical Systems Book Review BY DAVID NEWMAN Nudge: Improving Decisions About Health, Wealth, and HappinessRichard H. Thaler, Cass R. SunsteinPenguin Books, Revised & Expanded edition (2009) (public library)Summarized by Erick Rabin Introduction Choice Architecture involves organizing any context in which people make decisions. Urinals, stairwells, alarm clocks, school cafeterias, retirement accounts—all of these can be made…
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