Steve Jobs: Overcoming Adversity

Steve Jobs: Overcoming Adversity

What an inspiring story! Steve Jobs has endured through great
diversity and tragedy in his life. The fact that he could become
so successful without a college degree is amazing in itself.
He is truly a testament to the fact that people can achieve the
“American Dream” through hard work and dedication. His
determination not to give up on his ideals and to never settle
on someone else’s shows great character. I would say his
“never give up” attitude was what was most inspiring for me.

Design Thinking vs. Innovation

Design Thinking & Innovation Go Hand in Hand

There is nothing unique about the design thinking approach
versus the innovation approach. One does lead to the other.
Designing is innovating. Brown’s view of “innovation” follows
Edison’s by which understanding through observation of what
people want and need in their lives and what they like or
dislike about a product or service can be improved.
Inspiration, Ideation and Implementation are the three I’s of
design thinking. One must imagine the world from multiple
cultures and perspectives (Empathy), not rely only on analytical
processes (Integrative thinking), have a positive attitude
(Optimism), believe in new ideas (Experimentation), and
seek out other people’s perspectives to broaden their view
(Collaboration). Brainstorming, sandboxing, (having a beer)
or whatever you wish to call it, leads to design thinking and
innovation since computers only do what they are told and
humans are the major source of creativity.

Greg Burrow

Neural Networks in Business and Banking

Neural Networking in Business and Banking


Neural network applications are being used to predict bankruptcy,
costs, revenue forecasts, document processing and more. It detects
common characteristics and classifies large amounts of information.
This data can then be used to determine relationships between
business factors and forecast changes and effects. This approach
can potentially help predict bankruptcy for credit risk or sales
forecasting. Using previous data can help establish trends that
banks can use to predict high risk loans. Data from studies concerning
credit risks can be evaluated by extracting different rules for
determining credit risk. Neural network decisions can clarify
by explanatory rules that capture learned knowledge embedded
in the network as to an applicants level of risk for default on loans.
In a nutshell, neural networks are used to predict certain outcomes
or probabilities as to whether an event constitutes a high or low
amount of risk. This enables businesses to make better business
decisions.

Greg Burrow

Embrace the Swarm (Ch. 1)

Embrace the Swarm

Kevin Kelly explains in chapter 1 that speed in which computers
are being connected and data is being processed relates directly
to the concept of the new economy. The size of silicon chips and
it’s various uses are growing at a significant pace. The increasing
number of uses for logical data in everyday life is staggering.
Everything is being connected to everything. Desktop computers
are quickly becoming obsolete. Stand alone data is being replaced
with swarms of information that is being processed through high
speed networks, hence the network economy. The new economy
came about by exploiting and exploring the power of decentralized
and autonomous networks. The more that this networking
succeeds, the less we notice it. New technologies are becoming
transparent in everyday life. Real-time applications utilize this
swarm of data to the point where it is hardly noticed. Small amounts
of information can become more if we learn to embrace the swarm.

The World Is Flat

Thomas Friedman’s book “The World Is Flat” suggests that information
technology and the speed with which it is changing creates a leveling
effect for large and small business. This implies that having access
to online data for knowledge-based companies can lead to a creation
of competitive advantage. This is a global phenomenon that evolves
around different cultures, religions, educational backgrounds and languages.
Individuals can increase their market value by becoming familiar with
the multiple information systems devices. Creating a web page for a
business helps them to have a global voice which enhances their ability
to provide goods and services more effectively. If smaller companies
think in this “global” manner then they level the playing field with
larger companies. Information sharing is the key to growing a
business in today’s competitive environment.

Greg Burrow

Nucor Steel

Nucor Steel

The Nucor Steel philosophy incorporates
the knowledge spiral framework and
interprets such with human capital.
The social, internal, external and
combination which takes tacit knowledge
and converts it to explicit knowledge
is the key to a profitable business
venture.

The "knowledge is power" ideal is still
prevolent because people will take
advantage of their position to maintain
relevence. Sharing of knowlwdge is a
noble but unrealistic concept. Only 29%
believe in this ideal. Knowledge creation,
aquisition, retention, identification,
outflow, transmission and inflow are key
for the upward spiral of knowledge to
provide company growth. This concept can
boost the competitive advantage but it
is an idealistic point of view.

The social ecology concept tries to raise the
bar for a new standard in knowledge sharing.
The thought of incorporating slack time along
with a sandbox aproach is admirable but unless
you have the right work force, this is only
a pipe-dream.

Separating what is real and what is ideal
creates a conflict with many companies due to
existing corporate cultures. Knowledge can
be obtained via many avenues. Many of these
are hard to measure. Nucor Steel's structure,
millmining, raw material, location, distibution
and market power shows no need for external
factors. They took advantage of human capital
to sustain their competitive stance. The
accumulation of knowledge (created, aquired and
retained) creates a solid foundation. For many
companies, this is a hard sell. Most people
will not give away their knowledge (power) to
a company unless there are some type of incentives.

The elimination of knowledge hoarding can only
be achieved by an incentive program. The upward
spiral which Nonaka refers to can only work
in a team enviroment of human capital. People
need to know they are valued.

It's the transition from tacit to explicit
knowledge which transforms a thought to reality.
Corporations need to understand that there is a
fine line between idealistic thought and real
achievable goals. Knowledge management skills
should transform the way most companies approach
their goals but I do not see this philosophy
taking hold as quickly as many would wish.

Greg Burrow

MEDecision

MEDecision

MEDecision has been in business for over 20 years
designing collaborative healthcare management
solutions. They design their systems around a
patient-aware health management philosophy. They
help payers and providers get real-time information
to provide the best clinical decisions which in
turn improve health outcomes. This information is
transmitted throughout the healthcare ecosystem
which enables a better understanding of their
patients needs and reduces medical costs.

The MEDecision (www.medecision.com/) product line
consists of Alineo, Nexalign and InFrame. Alineo
provides a platform that provides outcome-driven
case management, disease management and utilization
management. Nexalign supports and designs systems
to improve the relationships between patients, payers
and providers. This allows for better clinical
solutions. InFrame is a health information exchange
(HIE) which connects care delivery organizations to
each other and their patients. This improves efficiency
and effectiveness which reduces costs.

Press releases dated Feb. 7, 2011 (according to the
website) state that the Office of the National
Coordinator for Health Information Technology awarded
two contracts to monitor and track electronic health
record adoption. The Direct Project has been launched
in Rhode Island and minnesota. This project is designed
to extend health information exchange between physicians
and smaller practice facilities that may not have
adequate resourses to meet healthcare management
requirements. Five other states are slated to adopt
this system, including Tennessee, New York and California,
later this month.

Greg Burrow