Blockchain

A blockchain is a growing list of records, called blocks, that are linked together using cryptography.[1][2][3][4] Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree). The timestamp proves that the transaction data existed when the block was published in order to get into its hash. Blocks contain the hash of the previous block, forming a chain, with each additional block reinforcing the ones before it. Therefore, blockchains are resistant to modification of their data because once recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks. Continue reading “Blockchain”

Statistics


Statistics is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data.[1][2][3] In applying statistics to a scientific, industrial, or social problem, it is conventional to begin with a statistical population or a statistical model to be studied. Populations can be diverse groups of people or objects such as “all people living in a country” or “every atom composing a crystal”. Statistics deals with every aspect of data, including the planning of data collection in terms of the design of surveys and experiments.[4] Continue reading “Statistics”

Coronavirus Increases Credit Risk

NEW YORK (Reuters) – Investor worries about corporate credit are heating up as the coronavirus spreads, with the prices of bond funds taking a hit, companies starting to draw on credit lines and some market watchers warning of the possibility that investors pull out of products.

Investors are growing increasingly concerned that the coronavirus outbreak will hit U.S. corporate cash flow if it keeps workers at home or prevents companies from paying employees. Continue reading “Coronavirus Increases Credit Risk”

Behavioral analytics

Behavioral analytics is a recent advancement in business analytics that reveals new insights into the behavior of consumers on eCommerce platforms, online games, web and mobile applications, and IoT. The rapid increase in the volume of raw event data generated by the digital world enables methods that go beyond typical analysis by demographics and other traditional metrics that tell us what kind of people took what actions in the past. Behavioral analysis focuses on understanding how consumers act and why, enabling accurate predictions about how they are likely to act in the future. It enables marketers to make the right offers to the right consumer segments at the right time. Continue reading “Behavioral analytics”

Managing by wire

Managing by wire is a management strategy in which managers rely on their company’s “information representation” generated by computers such as databases and software instead of on detailed commands.

It was presented by Stephan H. Haeckel and Richard L. Nolan in a 1993 Harvard Business Review article. The authors chose the term “managing by wire” as an analogue to the fly-by-wire concept for jets. SAP SE, Aetna, Mrs. Fields Cookies, and Brooklyn Union Gas have done “managing by wire”. Continue reading “Managing by wire”

Business operations

The outcome of business operations is the harvesting of value from assets owned by a business. Assets can be either physical or intangible. An example of value derived from a physical asset, like a building, is rent. An example of value derived from an intangible asset, like an idea, is a royalty. The effort involved in “harvesting” this value is what constitutes business operations cycles.

Overview

Business operations encompass three fundamental management imperatives that collectively aim to maximize value harvested from business assets (this has often been referred to as “sweating the assets”): Continue reading “Business operations”

Machiavellianism in the workplace

Machiavellianism in the workplace is a concept studied by many organizational psychologists. Conceptualized originally by Richard Christie and Florence Geis, Machiavellianism refers to a psychological trait concept where individuals behave in a cold and duplicitous manner.[1][2] It has in recent times been adapted and applied to the context of the workplace and organizations by many writers and academics.

Oliver James wrote on the effects of Machiavellianism and other dark triad personality traits in the workplace, the others being narcissism and psychopathy.[3]

A new model of Machiavellianism based in organizational settings consists of three factors:[4] Continue reading “Machiavellianism in the workplace”

Micromanagement

In business management, micromanagement is a management style whereby a manager closely observes and/or controls and/or reminds the work of his/her subordinates or employees.

Micromanagement is generally considered to have a negative connotation, mainly because it shows a lack of freedom in the workplace.[1][2] Continue reading “Micromanagement”

Managerial economics

Managerial economics deals with the application of the economic concepts, theories, tools, and methodologies to solve practical problems in a business. In other words, managerial economics is the combination of economics theory and managerial theory. It helps the manager in decision-making and acts as a link between practice and theory.[1] It is sometimes referred to as business economics and is a branch of economics that applies microeconomic analysis to decision methods of businesses or other management units.

As such, it bridges economic theory and economics in practice.[2] It draws heavily from quantitative techniques such as regression analysis, correlation and calculus.[3] If there is a unifying theme that runs through most of managerial economics, it is the attempt to optimize business decisions given the firm’s objectives and given constraints imposed by scarcity, for example through the use of operations research, mathematical programming, game theory for strategic decisions,[4] and other computational methods.[5] Continue reading “Managerial economics”

Operating agreement

An operating agreement is a key document used by limited liability companies (LLCs) to outline the business’ financial and functional decisions including rules, regulations and provisions. The purpose of the document is to govern the internal operations of the business in a way that suits the specific needs of the business owners, called “members”. Once the document is signed by the members of the limited liability company, it acts as an official contract binding them to its terms. An operating agreement is mandatory as per laws in only 5 states: California, Delaware, Maine, Missouri, and New York. LLCs operating without an operating agreement are governed by the state’s default rules contained in the relevant statute and developed through state court decisions. An operating agreement is similar in function to corporate by-laws, or analogous to a partnership agreement in multi-member LLCs. In single-member LLC, an operating agreement is a declaration of the structure that the member has chosen for the company and sometimes used to prove in court that the LLC structure is separate from that of the individual owner and thus necessary so that the owner has documentation to prove that he or she is indeed separate from the entity itself.[1] Continue reading “Operating agreement”