A Preponderance of the Evidence

It is fairly well known that the field of business management can be susceptible to fads. Organizational scientists have studied the adoption of business approaches like management-by-objectives, total quality management (TQM), business process re-engineering, just-in-time manufacturing, scorecard methods, and others. Their work has led to an interesting body of literature about management innovations and organizational… Read More A Preponderance of the Evidence

Down to Business

The links between elaborate economic models and reality can be downright mysterious! In 1959 economist Stefan Valavanis described economic models this way: Econometric theory is like an exquisitely balanced French recipe, spelling out precisely with how many turns to mix the sauce, how many carats of spice to add, and for how many milliseconds to… Read More Down to Business