We have written and spoken about Risk Management extensively – both in the Public and Private sectors. The conundrum has often been the inability of organizations to take actions (certain costs) in the face of projected impacts (uncertain future). Certainly Hurricane Katrina and Sandy are the most recent…
Thomas Friedman in a recent op-ed discusses the still lingering aftermaths of 9/11. Without getting into the politics of his piece, I think there are very strong corollaries in the business world. The gist of his thesis is that the long term effects of the “age of fear”…
Unless it’s a special night, you’re probably picking chicken because who can afford lobster all the time? Actually, you can since the price of lobster has dropped from $6/lb (1995) to $2/lb (2013) but you would never know it from restaurant or grocery store prices. Because they know that if they drop the prices, the experience (and therefore demand) of eating lobster will diminish, which is counter intuitive as you would think the demand would rise as prices fall.
