How to manage across cultures
Today’s companies attract talent from all over the world. Those led by managers concerned about the integration of their team members, who seek to embrace the value of diversity, are more likely not only to survive in this competitive global environment, but also to succeed.
Case 1: a remote team
It is increasingly common for work groups in companies to be made up of people in different time zones, often even on different continents. So-called agile methodologies come to serve these international teams of employees to perform optimally in their positions. So far so good, but let’s go one step further.
If you are the manager of one of these companies and the team you have recruited is spread across the globe, it is very likely that they are people of other ethnicities, cultures or races with a different sensibility and upbringing than yours, who respond to different codes than you do.
You are united by work, but miles apart when the computers are literally and metaphorically switched off.
If you want to get good results with such a team, you will have to redouble your efforts to achieve a brand culture, a sense of belonging to an idea of which everyone is a part. The integration capacity of a remote company is a major challenge if you want to keep the team in the medium to long term.
Case 2: a hybrid team
Let’s take a step aside. Your company now does not work remotely but in the same office in a hybrid format. In this case, you are united by work, but miles apart when computers are switched off only metaphorically because you all live a few streets away. You also use agile methodologies because they make tasks easier and more orderly.
The team recruited by your human resources department is also based on excellence and is international in origin. Due to migratory circumstances the workers are in the same location and, in addition, due to the specific type of sector, the company does not consider 100% remote work.
This team may spend time together outside of meetings. However, when taking a break or having a snack they look at their mobile phones and not interacting because they don´t know each other at all.
What kind of team are you building in this situation? Are they likely to put effort into the project when asked?
Work in progress
In either case, a remote or hybrid (face-to-face would also fit) company faces similar challenges. A good manager must be able to manage the human differences in his or her team with an open mind. It takes some training to notice the needs of the employees but it is worth every second.
Good communication skills and a vocation for learning and inclination to be very diplomatic in order to avoid hurting sensitivities are three main aspects to be considered a good leader.
Building a team in any discipline takes time. Establishing certain dynamics that favor integration through play or leisure activities that encourage curiosity about others and knowledge among equals are proposals that strengthen bonds and promote personal and professional growth.
Around the globe
Since the distance between two points in the world is measured in hours rather than kilometers, it takes longer to get to know your desk colleague than it does to travel around the world. Something in our value system should be revised.
And if you are a re-solutionary, take a look at our Master’s degree in International Management, in Finance and in Talent Management, we’re looking for you.
Because we’re re-solved to advance. We have the re-solution to advance.
What is an interdisciplinary approach, and how can it help you?
Today’s world calls for people with innovative and creative solutions. The problems and needs we face as a society can no longer be solved by traditional, unidimensional ways of reasoning.
At Advantere, we know the importance of re-thinking education and re-learning how we learn. That’s why we created our re-solutionary method, to empower the leaders of tomorrow. Because new times require new approaches, we believe in learning by doing, learning by living and learning by designing, with an interdisciplinary approach at the core of everything.
A holistic approach to learning
Interdisciplinarity is defined as ‘the involvement of two or more academic, scientific, or artistic disciplines’. Applied to learning, this would mean taking a holistic approach, combining multiple disciplines to achieve one common purpose.
Based on Plato’s ideal of unity as the highest good in all things, interdisciplinarity draws methods from different disciplines and merges them to produce cognitive advancement, that is, examining or solving a theme, problem, issue or experience.
Unlike multidisciplinarity, where no connections are made between the subjects of study, interdisciplinarity focuses on integration, comparing different concepts and insights across subjects to gain new knowledge.
The benefits of an interdisciplinary approach
There are many advantages to choosing an interdisciplinary education, not only when it comes to your career, but also to your personal development.
Critical thinking
By engaging in an interdisciplinary approach, you learn how to carefully dissect, process and compare information across subject boundaries.
In this way, you develop and strengthen critical thinking skills, resulting in a deeper understanding and assimilation of knowledge. All these abilities are transferable to future learning experiences, regardless of whether they are related to each other or not.
Creativity and innovation
An interdisciplinary approach involves considering different points of view, comparing and contrasting them. Apart from self-cultivation and critical thinking, evaluating perspectives and topics along diverse subject areas can be a great motivation to explore new interests.
Being constantly exposed to new frameworks and ideas heightens creativity, which in turn will nurture your capacity to come up with innovative solutions to modern issues.
Long-term learning
The contents included in an interdisciplinary curricula are rooted in real-life experiences and applicable to an actual context. This way, you can gain a deeper understanding of the world you live in and your place in it, connecting your learnings to a meaningful and authentic purpose.
These experiences are not only relevant to many different areas but also long-lasting, meaning you will continue to apply this knowledge throughout your whole life.
Why we need interdisciplinarity in today’s world
In the uncertainty of ever-changing panoramas, we need people who understand the bridges between different disciplines and their relationship to the modern context. Today’s real-world issues are mostly interdisciplinary, and therefore, require interdisciplinary solutions.
Approaching learning through the study and integration of multiple subjects, you can acquire important life skills such as collaboration, critical analysis and problem-solving, while also being able to apply these abilities to different backgrounds.
This way, you can face challenges with an innovative mindset that efficiently adapts to current demands, encouraging and creating new solutions to current needs.
In consequence, interdisciplinary education proves to be an important part of today’s scenario, holding the key to forming the re-solutionaries that will help build a better tomorrow.
If you are a re-solutionary, take a look at our Master’s degree in International Management, in Finance and in Talent Management, we’re looking for you.
Have you considered studying ethical finance?
As our social, environmental and cultural conscience continues to evolve, so do our decisions. Creating a better future calls for teamwork and the collaborative action of different industries and players of society. The financial sector has the power to produce great change, providing funding that can promote the development of projects or businesses that support the greater good.
If you’re interested in financial management and also care about having a positive impact, then studying ethical finance might be just for you.
What is Ethical Finance?
As its name suggests, ethical finance integrates ethics and finance to engage in practices that not only consider an economic return, but also focus on environmental, social and governance (ESG) factors.
Environmental factors are those affecting the natural world, such as climate change, waste reduction and the use of sustainable resources. Social factors are the ones concerning local and global communities, such as health and safety, working conditions, and inclusion.
On the other hand, governance factors refer to internal structure of both public and private organizations and their decision-making processes, such as transparency, employee relations, board diversity, and their stance on bribery and corruption.
Ethical finance has accuracy, honesty, and justice at the heart of every financial transaction, aiming to promote and deliver measures with positive socio-environmental impact.
Though governance is sometimes overlooked, it’s also important that corporations are held accountable for their management and inner-workings. Therefore, sectors considered unethical, such as arms, gambling and tobacco, or companies involved in corruption or corporate scandals, are not included in these practices.
Types of Ethical Finance
Financial activities can affect many different areas of society. Ethical finance is divided in three main categories, allowing individuals and businesses to identify the one that better suits their needs and values.
Green Finance
Investments are geared towards ‘green’ projects and business activities that protect and benefit the environment.
Social Finance
Stakes are made available for projects that tackle specific social issues, or aim to benefit a particular sector of society.
Sustainability-linked Finance
In this case, funds are not directed towards any particular project, but instead are assessed and measured against ESG factors.
Ethical Finance Benefits Everyone
With the financial sector turning towards more sustainable practices, companies are starting to realize the importance of integrating positive social impact into their business model.
Transparency, ethics, and social responsibility, are now key factors that cannot be ignored. Apart from its socio-environmental benefits, this approach also provides a competitive advantage for corporations.
The future is clearly sustainable, and as such, requires motivated re-solutionaries willing to work hard to deliver value to society. Ethical finance serves as a great way to align your personal life values with your career, studying with a purpose and sharing this purpose with the world.
At Advantere we stand for a re-solutionary approach to learning, helping you embark on a journey beyond your comfort zone to make a difference both as a professional and as a person.
If you are re-solved to advance your career in finance while being a motor for positive change, then our Master in Finance may be the perfect choice for you.
Blind spot bias
What is the bias blind spot?
The bias blind spot implies recognizing the impact of biases on the judgment of others, while failing to see the effects of biases on one’s decisions. We see ourselves as less susceptible to nonconscious predispositions and cognitive influences — biases — than others. We tend to believe that we know all the reasons underlying our decisions, but we ignore that our unconscious mind makes most of our choices, or at least influences all of them. We hold the illusion that we possess full introspective awareness. Even if we are aware of various biases acting on our perception, decisions, or judgments, research has shown that we are still unable to control them. So, even if someone knows that, they cannot alter their biased perception.
How does the bias blind spot influence my life?
The bias blind spot appears to be pervasive and is unrelated to people’s intelligence, experience, and actual ability to make unbiased judgments and decisions. Since people rationally believe they are less biased than others, these biases perpetuate and permeate many aspects of our life so profoundly that it becomes difficult to eradicate them. Thus, we assume that our decisions are better than other people’s without feeling the need to justify ourselves. The bias blind spot can prevent us from self-criticism, which can have a critical role in questioning and improving our decisions.
What can I do about it?
We usually make decisions in a context that is prone to increase the bias impact. We need to act fast; information is scarce, partial and difficult to interpret, and our memory cannot recall the data that would fill the gaps. In this context, biases can only prosper. The approach to minimizing such negative impacts is simple: take your time when you must make a decision, use as many sources of information as possible, take notes of your learning experience and rely on a systematic process. Lastly, be open to other people’s insights to enrich your decision process with more points of view. You won’t be bias-free if you follow these steps, but you will mitigate their impact.
If you want to apply this knowledge in a career focused on the common good, check our Master’s degrees: International Management, Finance or Talent Management, and start to change the world with us.
Because we’re re-solved to advance. We have the re-solution to advance.
Sources
“Bias Blind Spot: Structure, Measurement, And Consequences”, By Irene Scopelliti, Carey K. Morewedge, Erin Mccormick, H. Lauren Min, Sophie Lebrecht And Karim S. Kassam
- Out of 661 US citizens, only one person stated that they were more biased than the average person, while 85% believed they were less biased than the average American.
“The Bias Blind Spot Across Childhood”, By Sara Hagá, Kristina R. Olson And Leonel Garcia-Marques
- Kids believe that everyone is unbiased, like them. Time changes that perspective progressively.
“Starbucks Ceo Apologizes After Employee Calls Police On Black Men Waiting At A Table”, By Alex Horton
- Starbucks had to conduct training for all its staff in the US to avoid bias in customer service. Different biases were the cause of several conflicts on their premises.
“Cognitive Sophistication Does Not Attenuate The Bias Blind Spot”, By Richard F. West, Russell J. Meserve And Keith E. Stanovich
- Being an expert isn’t enough: a more prominent bias blind spot might be associated with higher cognitive ability.
“I Am Being Fair: The Bias Blind Spot As A Stumbling Block To Seeing Both Sides”, By Cynthia Mcpherson Frantz
- In an open conflict, people minimize all the biases that impact their position while considering that their opponent is radically biased.
“Peering Into The Bias Blind Spot: People’s Assessments Of Bias In Themselves And Others”, By Joyce Ehrlinger, Thomas Gilovich And Lee Ross
- People believe that being knowledgeable and having connections with a particular subject provide accuracy and enlightenment. However, if someone holds a different view, the same level of personal connections works as a bias.
What is socially responsible marketing?
Almost 80% of consumers remember by name the brands that responded positively during the pandemic. This response generated more trust and increased revenue, according to a study by Deloitte.
What is social responsibility in marketing?
Social responsibility in marketing involves addressing social, ethical and environmental factors in the promotion of products or services. It involves putting the customer at the centre of the strategy, showing the positive impact of the policies being implemented and the direct benefits of the offer to the target audience.
Traditional marketing, in which brands act in their own self-interest, putting their economic benefits first, as if they lived isolated in their ivory tower from what is happening around them, is being penalized by consumers, who are turning their backs on these companies, self-absorbed in their balance sheets and with little holistic pulse or general interest.
Consumers are getting it right
Consumers expect more from brands. When times get tough, and from Covid 19 to the war in Ukraine are economically and socially challenging months, the value of effective and quick responses from companies that recognize the real needs of consumers becomes strategic.
A sincere connection is demanded and those brands that were able to adapt saw their turnover increase. In other words, in situations of uncertainty, marketing continues to make a difference, but it needs to be humanized and made transparent.
Reinforce participation strategies through innovation in the digital environment so that the user experience is memorable, which generates engagement and therefore increases the feeling of belonging through the assumption of values, mission and vision.
Brand positioning in the minds of consumers based on the territory it occupies and the target at which it is aimed is the foundation of a company’s success.
Marketing that does not have to look like marketing
According to Deloitte’s Global Marketing Trends 2021 report, purpose-driven marketing translates into greater loyalty and recognition. It’s about answering a simple question: who does my brand exist for?
Once the objective and target have been defined, it is necessary to listen: what and how does my audience want me to present my products and services? To answer this question, you have to be agile and fine-tune your proposal, because otherwise your competitors will do it and your customers will flock to them.
How do I establish lasting bonds with my customers? The key lies in trust. A company has to communicate its messages in a way that is congruent with the experience it offers according to the values it claims to represent.
Matching the system
When consumers speak, and they usually do so through facts, company executives take note. The data of the last 3 years supports this market trend, which is making socially responsible marketing the new paradigm.
Are you a re-solutionary? Take a look at our Master’s degree in International Management, in Finance and in Talent Management, we’re looking for you.
Because we’re re-solved to advance. We have the re-solution to advance.
Why has social impact become a priority for companies?
Social responsibility has become a priority trend for organizations internationally. Most S&P 500 companies indicate that positive social impact is an essential factor in brand strategy and major investors are shifting their portfolios towards sustainable financial products.
CSR and ESG concepts
In a company everything is measurable even sustainability, because what is not measurable cannot be improved. In this way, social impact becomes a quantifiable variable through 2 concepts:
1. CSR: Corporate Social Responsibility. This describes the way in which private companies regulate themselves in order to allocate part of their profits to social objectives for the community. Currently, legislation in many countries has been tightened, forcing companies to contribute beyond strategic purposes such as brand reputation.
2. ESG: Environmental, Social and Governance. These three criteria encompass the practices that an organization has to comply with to ensure its sustainability. How the company’s activities affect the environment; and what impact these activities have on the community in terms of diversity, education or human rights, are two of the main questions that these metrics try to find out.
The big challenge companies face in being a sustainable business, in the broadest sense of the word, is related to the balance between ESG priorities and financial objectives.
Areas of business intervention
Companies’ key stakeholders (shareholders/investors, customers and employees) are leading the movement towards sustainability. Indeed, in many cases they are demanding it.
Investors are calling for social objectives, consumers are increasingly sensitive to socially responsible brands, and employees are requesting fairer working conditions that also allow for a work-life balance.
This trend will be consolidated in the medium term in all large companies in any sector, establishing their priorities according to the activity they carry out.
An energy company can reduce its emissions and those of its supply chain to reduce its direct and indirect environmental impact. Or an industrial company might include ESG metrics on accident reduction to add value to the safety of its facilities.
Other examples of intervention would be investing in community areas through education, employability, health or human rights.
Companies striving to put people first
A business is not just about generating jobs and paying taxes. A company is an economic and social dynamo of a territory, as small as a village or as large as a country.
We all associate the IKEA furniture brand with Sweden without hesitation; it is part of the country’s external image to which it adds a beneficial value of awareness.
Or to take another example, LEGO, the toy company for children and not-so-children, which is still headquartered where it was founded in the town of Billund, Denmark and built an airport there in 1964 – now public – and a Legoland theme park. Do these Nordic companies have anything else in common?
Both show a strong commitment to society and try to generate as much positive social impact as possible. Initiatives that in LEGO’s case are obviously focused on children, whereas IKEA focuses on equality and inclusiveness.
Social impact is beneficial for everyone, but...
We must not lose sight of the fact that even the most sustainable company from an ESG point of view has to be able to secure jobs in the first place, because if it does not have positive results, it will not have the financial muscle to invest in social work.
Are you interested in positive social impact too? Take a look at our Master’s degree in International Management, in Finance and in Talent Management, we’re looking for you.
Because we’re re-solved to advance. We have the re-solution to advance.
Recency bias
What is the recency bias?
The recency effect is a cognitive bias in which those items, ideas, or arguments that came last are remembered more clearly than those that came first. It is also applied to easily remembering something that has happened recently, compared to something that may have occurred a while ago.
This is related to the fact that we give more relevance to recent events than earlier events. This bias is also closely linked to the human tendency to prioritize any simple cognitive process, such as using our short and middle-term memory over a more difficult task that requires using our long-term memory.
How does recency bias influence my life?
Marketers take advantage of the recency effect by ensuring the beginning and ends of ads are positive and appealing.
The same happens while shopping: the first and especially the last impression determine your decision. In the same way, we recall more easily the items found at the end of a list we have recently memorized.
Similarly, when an evaluator is assessing employee performance, instead of evaluating the whole year’s activity, they focus on recent events or activities that can be readily recalled.
The same phenomenon is common in investing, as investors give more credit to short-term performances instead of more elaborated, long-term provisions.
What can I do about it?
When you are managing a list or a piece of information, place the essential information at the end. In the same way, if you want something you say to stand out in someone’s mind, make sure you emphasize this information right at the end.
When it comes to making decisions, try to analyze the bigger picture and avoid biased views. Use checklists and aim to be as broad, neutral and fair as possible when analyzing any scenario.
If you want to apply this knowledge in a career focused on the common good, check our Master’s degrees: International Management, Finance or Talent Management, and start to change the world with us.
Because we’re re-solved to advance. We have the re-solution to advance.
Sources
“Recency Bias and its footing in the NBA goat debate”, By Alex Brady
- When considering the best sports players, people always prioritize those who are temporally closer to them, in detriment to other players that performed better but a while back.
“Jury Psychology” (Encyclopedia Of Human Behavior), By B. E. Turvey And J. L. Freeman
- In court, the party delivering the final closing argument, the defense, has an unfair advantage in front of the public prosecutor.
“Cognitive Psychology of Memory” (Learning And Memory: A Comprehensive Reference), By M. J. Kahana And S. M. Polyn
- In some situations, the recency effect has a strong impact in the short term and over a long time regardless of eventual distractions.
“Serial Position, output order,and list length effects for words presented on smartphones over very longintervals”, By Cathleen Cortis Mack, Caterina Cinel, Nigel Davies, Michael Harding And Geoff Ward
- The length of the information presented and how it is presented can influence the recency effect.
“Differentiated Instructional Strategies for the block schedule”, By Gayle H. Gregory and Lynne E. Herndon
- To increase educational efficiency, teachers should structure classroom time by devoting the first part of the class to important information.
“Befi Barometer 2021”, By Cerulli Associates
- The recency effect is the most common behavior bias affecting investment decisions.
“Before and after jaws: changing representations of shark attacks”, By Beryl Francis
- After the 1975 blockbuster Jaws came out, the number of reported shark attacks skyrocketed, leading to a remarkable decrease in swimmers.
How Big Data can be used for common good
Artificial Intelligence is undoubtedly the most promising tool at our disposal. Due to its capacity for autonomous learning and calculation, its field of application in areas such as medicine, economics or engineering, to name but a few, complements human skills and in many cases, it must be admitted, improves them.
But can Big Data be used for the common good?
Clicking for the good
The South Korean philosopher Byung-Chul Han pointed out, in his March 2020 article entitled “The Viral Emergency and the World of Tomorrow”, that Big Data was a far more effective strategy for combating the virus than the border closures being carried out in Europe.
This is because data is predictive and prescriptive: it is not only valuable for stating what has happened, but also, and more importantly, for stating what is going to happen.
Every day at every moment we produce data by smartphones, computers and other devices. Companies analyze it to better understand consumers and offer them products and services that better match their lifestyles and personalities.
The more data, the more reliable the AI software algorithm. But it’s not all about getting us to click on a link, data can also be responsible.
Data can be Kind
DataKind is leading the Data-For-Good movement. Founded a decade ago by Jake Porway and Drew Conway, their mission is to put the power of Data Science at the service of humanity’s biggest challenges.
They do this through events like the weekend-long DataDive. 48 hours in which data scientists volunteer their time to social projects, whose purpose is to help other non-profit organizations and small government agencies solve their problems with data.
Datakind’s specific focus on social good can be seen through its work over the past ten years:
1. Catalyzing the redevelopment decision in environmentally at-risk communities in the United States, by targeting the variables in the data that most or best predict the cost of brownfield cleanup, and building prototype models to determine those variables.
2. Gathering data from social organizations in the UK to help homeless people discover new patterns before they become homeless.
3. International Human Rights is another focus of their efforts working on the HURIDOCS database, designed to preserve and collect information for advocates and with Amnesty International USA.
4. Machine learning to help rural households access electricity in India using historical customer payment behavior data as a predictor.
They are committed to giving the same access to data science resources that Wall Street and Silicon Valley have to provide new insights to the social sector.
Community Impact
“Empowering people at scale” can be seen as the claim of the NGO Bayes Impact. Paul Duan, one of MIT Technology Review’s Innovators Under 35, is the founder of this social organization that straddles Silicon Valley and Paris. His goal is also to solve some of the world’s problems with Big Data and AI.
Bayes Impact’s solutions are developing more resilient communities in Ghana by fighting fraudulent microcredit; in France by improving job seekers through an AI-driven app called Bob; or in the US by helping to reduce police violence in California.
Can we create a social competitive advantage for the common good?
Public services have already been improved by AI. At its command, it has been shown to increase welfare standards more efficiently than human data analysis. This is not to say that humans are expendable.
In the words of Amit Ray, famous AI scientist: “As more and more artificial intelligence is entering the world, more and more emotional intelligence must enter leadership.”
Are you interested in positive social impact too? Take a look at our Master’s degree in International Management, in Finance and in Talent Management, we’re looking for you.
Because we’re re-solved to advance. We have the re-solution to advance.
Why companies need to integrate social impact on their DNA
All players in society must be engaged to create a better future. Companies in any industrial sector, as an essential part of the productive system, should contribute to addressing critical social issues in the local and global community through their positive impact on the environment.
What is the social impact for business?
Social impact is a concept that explains how the actions of organizations transform and modify a community or society as a whole. This influence can be positive or negative depending on the rational, but also emotional or symbolic effect that the programme has on public opinion and its possible repercussions.
Sustainability is a short- and long-term investment that any company should make to ensure its future and livelihood, thinking only in individual terms.
If approached collectively, for a company to sell its products or goods to its customers over the competition, it needs a brand positioning that makes it credible and memorable. Is there a better positioning than the common good?
Types of impact according to the company's mission
Each company works in a particular sector of the industrial spectrum with certain needs and a distinctive target audience. Likewise, according to its mission, vision and values, which define its framework for action, its role in society will be established.
We could group the different types of impact into 3 main frameworks for action:
Cultural Impacts
Reducing the inequality that affects millions of people around the world is one of the fundamental objectives for a fairer world.
Many companies try to reverse this situation by helping through plans that support the social fabric, especially children, the most vulnerable group of all. These collaborations take place both at a local level, where the company is committed to its surrounding community, and at a global level.
It should not be forgotten that industries in certain territories keep bringing suffering and poverty along with a worsening of the lives of many peoples.
Economic Impacts
The implementation of new corporate social responsibility strategies that improve the quality of life of workers and their working conditions can have a direct impact on society.
Also, businesses related to the new green deal within the 2030 Agenda can generate massive job creation. On the other hand, corporate policies based on corruption and lobbying have a huge negative impact.
Therefore, any action to increase the transparency of its accounts is key, because the ultimate way to know the real intentions of a company is through its budget.
Environmental impacts
We are increasingly aware of the planet’s limited resources. Companies that have developed this awareness have implemented measures to reduce or even zero their environmental footprint.
This is because large-scale production such as the extraction of fossil fuels or mining –the derivatives of which are used in practically every industry– leads to the deterioration and degradation of the environment and species.
Fostering social change
The social footprint is becoming increasingly important. Its weight can be measured in the perception of consumers who want to support companies that show up for the community in meaningful ways.
The common good –positive social impact– is a roadmap that should guide a company’s growth and decision-making all the way.
Are you a re-solutionary? Take a look at our Master’s degree in International Management, in Finance and in Talent Management, we’re looking for you.
Because we’re re-solved to advance. We have the re-solution to advance.
Butterfly effect
What is the Butterfly bias?
In a complex system, a slight change in the initial conditions can yield completely different or even opposite results. Small actions can have non-proportional consequences.
That is the reason that is called a butterfly bias because there has been scientific proof that a small flap of a butterfly’s wings in Brazil can set off a tornado in Texas.
Applied this concept in day’s life means that any of our decisions might have a huge impact regardless of its apparent relevance.
How does the Butterfly bias influence my life?
Usually, we assume that our actions are harmless or irrelevant, but a small event can result in a chain reaction that triggers greater events.
Our decisions might significantly impact ourselves and others because everything is connected. We can’t be surprised when we realise the consequences of some of our choices.
What can I do about it?
To be aware of the potential impact of any action, an open mind with the capacity to identify subtle relations between different elements is critical. However, it is impossible to predict the future and exercise total control over it.
This might induce the feeling that what we do is irrelevant but, surprisingly, is the other way around because all the actions count. This apparent contradiction means that we shouldn’t be obsessed with the flow of the events but very active to contribute to steering them in the desired direction.
If you want to apply this knowledge in a career focused on the common good, check our Master’s degrees: International Management, Finance or Talent Management, and start to change the world with us.
Because we’re re-solved to advance. We have the re-solution to advance.
Sources
Does the flap of a butterfly’s wings in brazil set off a tornado in texas? the answer is yes! (lorenz:
- Does the flap of a butterfly’s wings in Brazil set off a tornado in Texas? The answer is yes! (Lorenz:
“Small things in a complex system may have no effect or a massive one, and it is virtually impossible to know which will turn out to be the case.”
- Team of Teams: New Rules of Engagement for a Complex World – Stanley McChrystal (Autor), Tantum Collins (Autor), David Silverman (Autor), Chris Fussell (Autor)
“The global economy is an unfathomably complicated machine. to all the complexity of the physical world, you add the psychological complexity of men acting on their fleeting expectations.”
- The Misbehavior of Markets: A Fractal View of Financial Turbulence Annotated Edition Benoit Mandelbrot, Richard L Hudson
“The fall of the ussr and the berlin wall was accelerated by a ukrainian nuclear power plant night shift in chernobyl. they deliberately turned the safety systems off and played around with the reactor, causing an explosion that irradiated vast swathes of ukraine and belarus.”
“Henry Tandey was in france in 1918 fighting for the british army when he decided to spare one young german’s life. he was fighting to gain one position and saw one injured german soldier trying to flee. because he was injured, tandey could not bear to kill him, so he let him go. the man was Adolf Hitler.”
“In 1919, Woodrow Wilson, United States president, received a letter from a young man called ho chi minh who asked to meet him to discuss independence from france for vietnam. at the time, ho chi minh was quite open-minded and ready to talk, but wilson ignored the letter, which angered the young ho chi minh. in the 1960s, north vietnamese ho chi minh‘s guerrillas start vietnam war.”
“The biggest volcano in iceland erupted in 1783. this resulted in a year without a summer as the earth was blanketed by sulfur particles, killing people and livestock. this natural catastrophe resulted in widespread famine, exacerbating the ongoing social grievances in france, triggering what would come to be called the french revolution.”