Wed Feb 28/ 2007 – 6:29 pm MST
An investor is considering making an investment. They have considered the systemic risks involved – the question of which stock market is most stable, has the best reporting, has strong investor protections, and is based in an economy or country with good legal infrastructure, and best-in-class currency and monetary policy management. They understand the […]
Sun Feb 25/ 2007 – 3:45 pm MST
‘A change in the weather is known to be extreme
But what’s the sense of changing horses in midstream ?’ (Dylan)
Well, the context is very different, but there is pretty good sense in changing horses, or at least the saddle. First, though you need to start understanding the weather. Here are three types of weather to […]
Thu Feb 22/ 2007 – 12:40 pm MST
Control of Complex Mechanisms
Our next step in systems theory emerged from a curious meeting, both of thought, and of people. The needs of the second world war had led to some significant challenges. The introduction of aircraft in world war one, has led to the deployment of anti-aircraft guns, first on land, and then later […]
Mon Feb 19/ 2007 – 12:36 pm MST
Businesses are complex entities. A human being is complex, and two human beings is even worse – and lets not talk about marriages. Market economies are very complex, and so are financial markets and labour markets. Anyone who has filled out an income tax return knows that governments appear to delight in making otherwise simple […]
Fri Feb 16/ 2007 – 10:15 am MST
Every week, on its regularly scheduled delivery, a mechanical system (a truck) travels across a system of roads, driven by a biological system (the driver). The risks that flow out of damage to these systems (running out of fuel, construction delays, and a stroke) are systemic in nature. One day in early February, it snows. […]
Thu Feb 15/ 2007 – 12:15 pm MST
Confusing isn’t it – systemic and systematic. Could they not have found two words that are more distinguishable? Let’s straighten this out right now.
Systems Theory
There is a discipline known as systems theory. In essence it grapples with the interaction of components and parts that work together to accomplish some behaviour. Taken together, those interacting parts […]
Tue Feb 13/ 2007 – 9:56 pm MST
Why start with business and risk? After all, how many entrepreneurs sit down and decide ‘Well, today I am going to start some risk-taking…’. Fair enough – darn few. Yet, when you actually sit down and discuss with them the aspirations of their new venture, that is how they think, in slightly different words, and […]
Sun Feb 11/ 2007 – 11:41 am MST
The field of business is the study of risk, and how to make it beneficial, for oneself, and in fact for society at large.
