"Americans increased the Defence Budget to the tune of USD 200 Billion per year between 1980 and 1987"
#MacNamara.
#MacNamara.
One must learn Crisis Management from Military leaders and Geostrategic Affairs Experts.
Leadership, management and entrepreneurship can all benefit from wargaming and decision-making did on the battlefield.
An interdisciplinary approach to problem-solving helps a lot!
Leadership, management and entrepreneurship can all benefit from wargaming and decision-making did on the battlefield.
An interdisciplinary approach to problem-solving helps a lot!
#MacNamara is right about three things when he sums up a crisis situation
1. Misinformation exacerbates a crisis
2. Emotionalism can ruin strategic decision-making
3. First information received in the event of a crisis is always wrong leading to an error of judgement
1. Misinformation exacerbates a crisis
2. Emotionalism can ruin strategic decision-making
3. First information received in the event of a crisis is always wrong leading to an error of judgement
I wish bankers and economists in charge of systemic risk management would listen to MacNamara advice.
They should learn Game Theory more than any other subject.
#Nash
They should learn Game Theory more than any other subject.
#Nash
Breakdown in communications can lead to misinformation.
However, too much of mass communication in this day and age of digital technology and decision-making platforms can lead to more confusion and distraction.
Have to distinguish noise from signals.
However, too much of mass communication in this day and age of digital technology and decision-making platforms can lead to more confusion and distraction.
Have to distinguish noise from signals.
Coordination of policy helps to fight a crisis like situation.
Situational awareness is important.
We get into a psychological exercise, where it becomes arduous to distinguish between the right perceptions and our misperceptions.
Situational awareness is important.
We get into a psychological exercise, where it becomes arduous to distinguish between the right perceptions and our misperceptions.
Actually, policymakers(fiscal, income, macroprudential, trade, industrial and monetary) such as central banks,& other fiduciary/legal risk management authorities should draw inferences from what came to be known as permissive action links lock coded in ICBMs, by the US Military.
At least two agents should agree on the description, definition and interpretation of an #emergence of a #crisis situation.
In economics and financial markets, that takes us in the direction of #complexity modelling.
In economics and financial markets, that takes us in the direction of #complexity modelling.
One has to be a born leader to judge his own instincts.
In times of crisis, one should look internally to seek advice before going to others.
This is the cusp and gift of reasoning.
Not allowing our shadow personality to weaken us in panic is objectivity.
In times of crisis, one should look internally to seek advice before going to others.
This is the cusp and gift of reasoning.
Not allowing our shadow personality to weaken us in panic is objectivity.
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