All entries for Wednesday 20 April 2011

April 20, 2011

Poor judgment in a TV game . . . Short term thinking

I was watching a TV game called something like the weakest link. In that game a team answers question and earns money. In case of wrong question no money are gained. So at the end of each round the team members vote for the worst player and he/she just abandon the game.

The problem is that four three consecutive rounds there was a player who had zero wrong answers. The same player in the fourth round had the worst performance. So the team members voted against him. Is that judgment correct? I do not think so. If he was the best player for three rounds and only in one the worst the probabilities to have a good round in the next turn are high.

In my mind came the idea that our judgments should not only based in what is happening now but look for data over a time. Is the same problem with the financial people. The take the last two year figures of the income for example and create a trend. . . . . . Can we assume that the process is in statistical control? (I love variation)J.

All these lead to short term thinking. . . . . The economic problem of our society.

MBE knowledge community. . . . . . . . . SOS see that.

I open here a topic regarding an idea that in my eyes we have to promote. I was thinking for creating an MBE community after graduation. In that community we could share ideas and thoughts that could be applied in our working life afterwards.

I have discussed that with some MBE students however it is a matter of everyone in MBE thus I wanted everyone¢s opinions. I didn¢t send you personal mail for two reasons. First I think that someone who doesn¢t frequently look the MBE blogs will not bother in the future to attend in something similar. If he/she does it means it is for money and knowledge is not about money knowledge is about self as well as system improvement. Secondly it should be an open conversation. . . . .

I would like to say that Paul is informed about that. Next week I will meet with Jeff to speak about the infrastructure support on it.

A good idea was given by the president was to create a simple web-site which will link into blogs and forums. Just ideas. Come on we are clever children we will figure something out.

I am looking forward for your ideas. . . . . .

April 2011

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