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jerryking : averages   6

Tyler Cowen on inequality, Canada, and the state of global superpowers
Eva Salinas | May 1, 2015.

Tyler Cowen is an economist, academic and writer. His popular blog, Marginal Revolution, co-written with Alex Tabarrok, a colleague at George Mason University, turned Cowen into “an economics celebrity,” in the words of one LA Times writer. More recently, Cowen and Tabarrok ventured into the world of online education with their creation of Marginal Revolution University in 2012.
The author of ‘Average is Over: Powering America Beyond the Age of the Great Stagnation’ was in Toronto earlier this year as the keynote speaker at the University of Toronto’s conference on Inequality.
Tyler_Cowen  economists  income_inequality  Canada  innovation  Silicon_Valley  averages  digital_economy  knowledge_economy  economic_stagnation  clusters  polymaths  the_Great_Decoupling 
may 2015 by jerryking
Kobe’s competitiveness ‘scares a lot of people that are just comfortable being average’ - The Globe and Mail
MINNEAPOLIS — The Associated Press
Published Monday, Dec. 15 2014
Bryant has been compared to Jordan for a long time, in part because he dared to chase him. Where Bryant is every bit Jordan’s equal is in the tenacity that has kept him going through a torn Achilles tendon, bone-on-bone friction in his knees and now the painful rebuilding of a proud franchise.

“His competitiveness drives him in the off-season to work to be able to play at the level he plays,” Timberwolves coach Flip Saunders said. “His competitiveness during the games to dominate offensively and defensively and then his competitiveness of wanting to win. He’ll challenge teammates if need be and will do whatever it takes to try to get that edge.”

It’s the only way Bryant knows. And he learned by studying the best.

“I think when you look at Michael’s [Hall of Fame] speech,” Bryant said, referring to a speech in which Jordan cited those who he perceived to have gotten in his way over the years. “People really got a chance to see how he ticks and it scared a lot of people, right? But that’s just the reality of it. You can’t get to a supreme level without channelling the dark side a little bit.”

Bryant’s willingness to embrace the darkness has, in his own eyes, cast him as one of the league’s villains.
NBA  athletes_&_athletics  competition  competitive_advantage  basketball  Kobe_Bryant  competitiveness  Pablo_Picasso  averages  tenacity  injuries  dark_side  villains 
december 2014 by jerryking
Surprise business result? Explore whether it is a hidden opportunity
June 18, 2007 | G&M pg. B8 | George Stalk Jr.

What does it take to capitalize on anomalies systematically?

For starters, you need to have metrics and information systems that are sufficiently refined to identify anomalies in the first place. Knowing the average margins and market share isn’t enough; look at the entire range of outcomes—across customers, geographies, products, and the like. This allows you to surface out-of-the-ordinary results for closer inspection.

The next step is to separate wheat from chaff: those anomalies that signal a potential business opportunity from those that are merely one-time events. The key is to examine the pattern of unusual performance over time. The customer who consistently buys high volumes or the market that outperforms the average year after year are, by definition, not random. Is there an underlying cause that can be identified and then replicated elsewhere?

Finally, you need to understand the precise mechanisms that animate the anomalies you identify. Why is the unusual pattern of performance happening? What specific features of the product or the local environment or the customer experience are bringing it about? Don’t accept the usual first-order explanations. It’s not enough to know that a particular customer has been loyal for years; find out precisely why.

It’s up to senior management to create the forum for asking why and to persist until the question is answered with genuine insight.
metrics  George_Stalk_Jr.  BCG  anomalies  growth  opportunities  customer_insights  surprises  systematic_approaches  quizzes  ratios  pattern_recognition  insights  questions  first-order  second-order  OPMA  Waudware  curiosity  new_businesses  one-time_events  signals  noise  overlooked_opportunities  latent  hidden  averages  information_systems  assessments_&_evaluations  randomness  5_W’s 
january 2013 by jerryking
Average Is Over, Part II
August 7, 2012 | NYT | By THOMAS L. FRIEDMAN.

A big mismatch exists today between how U.S. C.E.O.’s look at the world and how many American politicians and parents look at the world — and it may be preventing us from taking our education challenge as seriously as we must.

For many politicians, “outsourcing” is a four-letter word because it involves jobs leaving “here” and going “there.” But for many C.E.O.’s, outsourcing is over. In today’s seamlessly connected world, there is no “out” and no “in” anymore. There is only the “good,” “better” and “best” places to get work done, and if they don’t tap into the best, most cost-efficient venue wherever that is, their competition will....The trend is that for more and more jobs, average is over. Thanks to the merger of, and advances in, globalization and the information technology revolution, every boss now has cheaper, easier access to more above-average software, automation, robotics, cheap labor and cheap genius than ever before. So just doing a job in an average way will not return an average lifestyle any longer....Which is why it is disturbing when more studies show that American K-12 schools continue to lag behind other major industrialized countries on the international education tests....Every three years, the O.E.C.D. has been giving the PISA test to a sample of 15-year-olds, now in 70 countries, to evaluate reading, math and science skills. The U.S. does not stand out. It’s just average, but many parents are sure their kid is above average. With help from several foundations in the U.S., Schleicher has just finished a pilot study of 100 American schools to enable principals, teachers and parents to see not just how America stacks up against China, but how their own school stacks up against similar schools in the best-educated countries, like Finland and Singapore....
averages  Tom_Friedman  CEOs  Outsourcing  politicians  OECD  data_driven  K-12  PISA  rankings  standardized_testing  assessments_&_evaluations  mismatches 
august 2012 by jerryking
Average Is Over -
Published: January 24, 2012
the reason we have such stubbornly high unemployment and sagging middle-class incomes today is largely because of the big drop in demand because of the Great Recession, but it is also because of the quantum advances in both globalization and the information technology revolution, which are more rapidly than ever replacing labor with machines or foreign workers.

In the past, workers with average skills, doing an average job, could earn an average lifestyle. But, today, average is officially over. Being average just won’t earn you what it used to. It can’t when so many more employers have so much more access to so much more above average cheap foreign labor, cheap robotics, cheap software, cheap automation and cheap genius. Therefore, everyone needs to find their extra — their unique value contribution that makes them stand out in whatever is their field of employment. Average is over.
averages  Tom_Friedman  unemployment  middle_class  globalization  automation  value_propositions  economic_stagnation  Tyler_Cowen  the_Great_Decoupling  Pablo_Picasso  cheap_revolution 
january 2012 by jerryking
A dizzying world of insight lurks beyond the averages
Aug 27, 2007 | The Globe & Mail pg. B.6 | by George
Stalk Jr. "A gloriously rich world is hidden from us by "averages." We
manage our lives and our businesses with averages....But as soon as we
choose an average on which to make a decision, we cut ourselves off from
more nuanced information that might lead to a better
decision....drill[ing] down behind the averages can yield rich insights.
What businesses are we in? Where are the opportunities to raise
prices? How fast can we grow this business? How much time does it
really take us to do things? Other intriguing, insightful questions
include: How much money does it take to run this business? Just what do
our customers want? Where do we make our money in this business? Who
are our real competitors? Do our averages conceal sources of
competitive advantage? Looking behind the averages often yields new
strategic and operational paradigms that can help make better decisions
and ensure they are acted upon daily.
identify anomalies in the first place. Knowing the average margins and market share isn’t enough; look at the entire range of outcomes—across customers, geographies, products, and the like. This allows you to surface out-of-the-ordinary results for closer inspection. (June 18, 2007 | G&M pg. B8 | George Stalk Jr).
base_rates  George_Stalk_Jr.  strategic_thinking  insights  BCG  management_consulting  competitive_advantage  questions  extremes  laggards  decision_making  anomalies  leading-edge  quizzes  ratios  second-order  averages  5_W’s 
october 2009 by jerryking

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