SlideModel Blog
A Quick Read on Prospect Theory and Loss Aversion
For a consumer, economic decisions are based on certain types of behavior. Prospect Theory or the loss-aversion theory in behavioral economics and behavioral finance, aims to determine people’s decision making and their tendency for loss aversion.
Overcoming Sunk Cost Fallacy: Get Better at Decision-Making
One of the first things you learn at an economics course is that you should never take irrecoverable (sunk) costs into account when you need to decide upon present or future investments. But since humans are not the most rational beings, we often forget that basic rule and let the past “investment” distort our judgments. This cognitive tendency is known as “sunk cost fallacy” and it can massively undermine both your personal and business decision-making.
A High-Level Overview on Strategic Planning
Every organization has grand goals on their business agenda. However, there is a long way between formulating those goals and seeing the results of their successful accomplishment. A lot of things can happen in-between, the project can get side-tracked, the timeline may change and new threats may emerge. To get a better sense of what needs to be accomplished and how? Most managers regularly engage in strategic planning.
The State of Remote Work: Key Trends for 2019-2020
The face of the modern workplace is changing. It’s a matter of several things, companies are going global, or at least employing workers in places all over the globe. With this state of a new workplace and force, it is a good idea to take a look at this thing we call remote work, and all of its implications.
How to Use Two Factor Theory to Improve Employee Engagement
Employee engagement has finally come to the forefront of the business world. A motivated, healthy and committed workforce is key to effectively scaling your business. Businesses with engaged employees enjoy lower rates of employee turnover. This leads to lower hiring costs and faster talent acquisition. A study conducted by the American Psychology Association revealed that […]
How to Use Gap Analysis to Improve Business Performance
How do you run a business that’s profitable, efficient, and primed for growth? You have to stay on top of things at once. Every process must work as perfectly as possible. At any given moment, you should know where you should invest time and resources.
All About Using Harvey Balls
Among the many tools in the arsenal of the modern presenter, Harvey Balls have a special place. In this article we will tell you all about using Harvey Balls.
Circular Economy to Save the Planet
The circular economy is an economic model based on eliminating waste and making the economy more sustainable. The model is a diversion from the linear economy, which focuses merely on the take, make, consume and dispose of method. But can the circular economy model save the planet?
Business Bullet Journal Guide: A Great Strategy to Max Your Productivity
Everyone has personal and professional goals. Everyone has bucket lists. And if our goals and wish lists are important enough, we do things to make them happen, usually in small increments.