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Posts selected fromManagement Blog - Engineering Blog - Investing Blog and other blogs

• The Road Not Taken

  Robert Frost was poking fun at his friend who would obsess over what fork to take in the path as they walked when in reality the choice made no difference.

  And “that has made all the difference” is poking fun at self justifications of our actions; congratulating ourselves for doing something not really worthy of accolades.

  Still the top three lines do seem like insightful advice. Of course what is really needed is insight into when choosing the road less traveled is wise (or at least a sensible gamble) and when it is less traveled for very good reasons.

  continue reading: The Road Not Taken
• The Fed Should Raise the Fed Funds Rate (Sep 2015)

  The issue I see is that a .25% Fed Funds rate is adding gasoline to the economy via low interest rates. Many people are saying an increase is like taking away the gasoline and taking out a fire extinguisher. But it really isn’t. Raising the rate to .25% is slightly decrease the amount of gas you are adding to the fire.

  continue reading: The Fed Should Raise the Fed Funds Rate (Sep 2015)
• Exercise Is Really Really Good for You

  150 minutes a week of moderate (walking briskly, biking, even mowing the lawn maybe) activity (30 minutes a day 5 days a week) is a decent target for a minimum amount of activity for most people.

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• Myth: If You Can’t Measure It, You Can’t Manage It

  Dr. Deming did very much believe in the value of using data to help improve the management of the organization. But he also knew that it wasn’t close to enough. There are many things that cannot be measured and still must be managed. And there are many things that cannot be measured and managers must still make decisions about.

  I wrote a post on my Curious Cat Management Improvement blog about how to manage what you can’t measure (in 2010).

  continue reading: Myth: If You Can’t Measure It, You Can’t Manage It
• Temple of Literature, Hanoi, Vietnam (established in 1070)

  Temple of Literature (Văn Miếu – Quốc Tử Giám, 文廟) is located in old town Hanoi along with many other items of interest within easy walking distance (see Curious Cat Hanoi Tourist map).

  In 1076, Vietnam’s first university, the “Quốc Tử Giám” or Imperial Academy, was established within the temple to educate Vietnam’s bureaucrats, nobles, royalty and other members of the elite. The university remained open from 1076 to 1779. In 1802, the Nguyễn dynasty’s monarchs founded the Huế capital where they established a new imperial academy.

  continue reading: Temple of Literature, Hanoi, Vietnam (established in 1070)
• Adding 50,000 Jobs a Month is the New 150,000 in the USA Due to Demographic Changes

  Due to changes in the demographic makeup of the USA we are not adding nearly as many working age people as we have been for several decades (the large number of people reaching retirement age is a big part of this shift).

  continue reading: Adding 50,000 Jobs a Month is the New 150,000 in the USA Due to Demographic Changes
• Why do you hire dead wood? Or why do you hire live wood and kill it?

  The common objection to seniority pay is, "It’s rewarding dead wood!” My response is, “Why do you hire dead wood? Or why do you hire live wood and kill it?”

  Peter Scholtes, The Leader’s Handbook, page 331

  continue reading: Why do you hire dead wood? Or why do you hire live wood and kill it?
• The Use and Misuse of Technical Jargon

  Overwhelming people with jargon when trying to introduce new ideas is not usually helpful. Using a couple pieces of jargon can be helpful as it reinforces the idea that this is new stuff and can make people tie the new ideas to new terms.

  Technical jargon is helpful in enabling experts being able to quickly communicate unambiguous (well less ambiguous) specific meaning which is why jargon usually exists - to allow for communication to be more effective.
  
  Certainly at times jargon is also used by experts to baffle or impress non-experts rather than to help communication. Reducing this use of jargon would be a good thing.

  continue reading: The Use and Misuse of Technical Jargon
• When You See the Problem as Capitalism Instead of Corruption You Seek to Solve the Wrong Problem.

  Capitalism has huge benefits and some issues. I am frustrated that we are allowing anti-capitalist ideas to be called capitalist. Those ideas are predominately about allowing huge businesses to subvert markets and corrupt the political process.
  
  Corruption in our political system which then allows corruption of free markets (as favors to those giving politicians cash) is not "Capitalism." It is corruption.
  
  Free trade is good. The secret TPP and other corporate-welfare/copywrong-cartel bill is not.

  ...

  A fundamental tenant of capitalism is free markets (based on the idea of perfect competition) in which no actor has the power to subvert the market. This was foreseen from the very beginning (in Wealth on Nations by Adam Smith) as an important criteria without which society would not benefit from capitalism as powerful interests would collude to prevent markets from functioning.

  continue reading: When You See the Problem as Capitalism Instead of Corruption You Seek to Solve the Wrong Problem.
• Analyzing Data Requires an Understanding of the System Generating the Data

  If you bring in a new effort to focus on customers and solicit more feedback if you don’t get an increase in complaints that is likely not an indication of success but an indication of failure. One of the easiest way to reduce the number of complaints counted is to make complaining, in a way that is counted, difficult.

  Using data to measure the effectiveness of new efforts is important. But you need to understand the risks of being led astray. That risk is much greater if those analyzing the data are not intimately familiar with the processes generating the data and the operational definitions used to collect the data.

  continue reading: Analyzing Data Requires an Understanding of the System Generating the Data
• What Will I Do This Week That Will Still Be Adding Value in a Year?

  Failing to prioritize the important-but-not-urgent work is a common weakness in business today. To counter this situation you should build into your work system processes to counter the tendency to allow whatever is urgent from taking all the time you have.

  continue reading: What Will I Do This Week That Will Still Be Adding Value in a Year?
• Computer Code for NASA’s Apollo Guidance System

  My aunt was one of those early software engineers. She wrote a chapter for a book, Programming the IBM 360, in the 1960s. My uncle was one of the first employees at NASA and rose to be one of the senior administrators there over his career.

  It is great when society is able to capture the value individuals are capable of providing. We need to make sure we allow everyone opportunities to contribute.

  continue reading: Computer Code for NASA’s Apollo Guidance System
• Challenging Conventional Thinking

  RA Fisher was an outspoken person and not easy to get along with. Being difficult to get along with isn't uncommon for people that do great things - I suspect those that are willing to subsume their opinion to make those around them more comfortable are less likely to find incredible breakthroughs.
  
  Of course you can free your mind from the constraints of conventional thinking while being very friendly and sociable and likeable, it just seems to me not uncommon for people willing to challenge intellectual orthodoxy are also willing to challenge the thinking that social niceties are of utmost importance. They would be more able to win over more people more quickly with behavior based on "you catch more bees honey..." but that seems less common.

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• My Early Experience as a Digital Nomad: Part Two

  Choosing to start in Chiang Mai, Thailand was fortuitous. It really is very convenient for digital nomads. Monthly renting is easy in Chiang Mai. Lots of great food and co-work spaces options. Good internet all over. It is an easy and enjoyable place to live.

  I started my digital nomad ways a bit differently than most (though largely in similar ways). I lived in Malaysia a couple years first and then set off to be a nomad. I just sent two boxes a bit bigger than those for a ream of paper back home before I left. And I gave a bunch of stuff away I had picked up (books, printer, basketball, plants, cloths, etc.)

  continue reading: My Early Experience as a Digital Nomad: Part Two
• Your Choices Determine if Others Will Find You Credible

  If you are promoting the latest fad diet book and other high priced gimmicks the web site they have and deciding to appear on popular but scientifically inaccurate TV shows makes perfect sense. But those choices damage any credibility that could be had otherwise and make it difficult for others to take you seriously. You just put yourself into the bin with all the fad diets sales pitches in play at any time.

  continue reading: Your Choices Determine if Others Will Find You Credible