article thumbnail

Is Behavioral Economics Used in Business?

Steve Shu Consulting

” Broad conscious, concerted efforts to apply behavioral economics probably did not begin until sometime after 2008 with the release of Thaler and Sunstein’s book, Nudge. This can include wanting to do holistic innovation that touches on service, products, and applications. Mercer UK – Personalised Pension Videos.

Mercer 186
article thumbnail

Inflation: Understanding its Impact on the Economy

Tom Spencer

Inflation, which refers to a general increase in the price of goods and services, results in a reduction in the purchasing power of money over time. Since 2008, the rate of inflation in the U.S. Businesses also need to pay more for inputs, like raw materials and labour, leading them to scale back production or further increase prices.

Policies 147
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What is digital currency?

Tom Spencer

Since the advent of Bitcoin in 2008, digital currency has been a growing trend and a growing area of interest for consultants, businesses, fintech investors, central banks, and governments. This also includes Bitcoin (created in 2008) and Ethereum (created in 2015). Reading Time: 6 minutes. What is the value of digital currency?

Banking 120
article thumbnail

Main Risks of Aerospace Engineering Projects: How to Implement Wise Risk Management into Your Organization

Epicflow

This mostly refers to the manufacturing process, which is also a part of aerospace engineering. Issues with the supply chain lead to poor quality of products and delays in their releases. Risk management is an essential part of the standard which determines three major risks for the aerospace companies: Product safety. .

article thumbnail

How to Work Together When You Don’t Agree

Organizational Talent Consulting

The cost of unproductive conflict The distinction between productive and unproductive conflict lies in the importance of the issue and the amount of energy you put into it. Productive conflict is the open exchange of conflicting or differing ideas. Non-productive conflict is an exchange of conflicting or differing ideas.

How To 52
article thumbnail

Successful Project Delivery in Aerospace and Defense: Success Criteria

Epicflow

At the same time, customers who want the developed product to meet their requirements to the full may turn a blind eye to a project delay and/or cost overrun if it’s necessary to deliver the product they need. Project deliverable success criteria that describe the success of a product/services delivered as a result of a project. .

article thumbnail

Your New Hit Product Might Be Underpriced

Harvard Business

The odds are stacked against new products or services. We have diagnosed thousands of product failures over the last 30 years, and have found recurring patterns. Often new products are over-engineered with too many features, usually at too high a price. The problem with wildly successful products. How could they not have?