Mitch Malloy has had a glittering career as a singer and producer dating back to the 80’s.
Digitisation has barely started – new business models are evolving rapidly – competitors emerge from unexpected places and resourcing your digital journey will come at the price of a radical transformation for many.
How do you come to know about a new brand/product launch? Print media? Television advertisements? Word of mouth? Brand launch events? There can be ‘n’ number of ways to do so, but the most popular today definitely has to be digital media. Now, the question that arises is can a brand launch be isolated from all other medias and just be relied on this new platform?
In the 1950s, Japan was recovering from the after-effects of World War II. The country was focused on growing its economy. A large population resided in the cities of Osaka and Tokyo, which were separated by 320 miles of train track. Large amounts of raw material and labor were transported on those rail lines. However, the mountainous terrain and redundant railway system meant each journey could take up to twenty hours.
Before we go into avoiding the C-fallacy, let’s explain what it means. The C-fallacy refers to the Concorde fallacy, more famously known as the ‘sunk cost fallacy;’ a common type of human behaviour which makes us continue to do something that is of no value because of our emotional attachment and sense of ‘loss’. Simply put, it is the difficulty, humans face in making a rational decision on a failing project, when they have invested time, money, effort and belief into making it work. They would rather continue to waste their time, energy and money, rather than feel the pain of losing what they worked so hard for.
So my little snowflakes, do you have a few minutes to let me mansplain to you my top 10 new words that have just been added to the Oxford English Dictionary? Well let's get on with it because I'm getting hangry.
A sense of real frustration had set in. The team wasn't meeting the expectations I had for them and not one team member seemed to be getting better. It felt as though we were stuck in quicksand with no relief in sight. So I did what most inexperienced leaders do, made changes on the team.