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Good post; tl;dr these sentences at the end: > In my notes, there’s a phrase which really stuck in my mind – “understanding the numbers has to come from unders
by KerrAvon 3y ago
Good post; tl;dr these sentences at the end:
> In my notes, there’s a phrase which really stuck in my mind – “understanding the numbers has to come from understanding the business. People go badly wrong when they try to do it the other way round”. But that’s what they do, far too often
- goodSteveramos 3y agoPeople who are good at “business itself” without being good at any particular business are really just reckless profit extractors willing to cut corners because they have friends in high places to bail them out when it all inevitably goes wrong.
- Terr_ 3y agoA useful related term is "McNamara Fallacy" where quantitative factors are given too much emphasis. > But when the McNamara discipline is applied too literally, the first step is to measure whatever can be easily measured. The second step is to disregard that which can't easily be measured or given a quantitative value. The third step is to presume that what can't be measured easily really isn't important. The fo[u]rth step is to say that what can't be easily measured really doesn't exist. This is suicide. -- Daniel Yankelovich, "Interpreting the New Life Styles", Sales Management (1971)
- deleted 3y ago[deleted]
- dave4420 3y agoAka “the map is not the territory”.