BSE309 CHEME309 2011 Feedback
May 1, 2011
I was just about to start writing this when I received a call to watch television for an announcement by President Obama about the killing of Osama bin Laden (ObL).
It certainly took a long time to track him down. We should consider the creativity aspects. Try to imagine the first gatherings when someone (ObL ?) proposed attacking the USA with hijacked commercial airplanes. Thereafter, following the initial IDEA, there had to be a series of demanding innovative steps where the ObL men had to learn how to fly large commercial planes.
What a task to put all these pieces together secretly.
Simultaneously, the CIA/FBI people were trying to imagine what creative attacks could be launched. One FBI woman actually pointed out that some unusual people were taking flying lessons in large planes but her creative comments were ignored. The rejection of ideas often occurs and is difficult to deal with. Just try keeping in mind the descriptive SELF-DEFINING.
After last Friday’s class I rushed over to Savery to act as a judge in the new entrepreneurial program in the College of Engineering. The students had to prepare a 2 minute elevator speech. This is something you have ready to deliver at any time you unexpectedly run into a possible opportunity. Actually this has happened at least twice to me when I flubbed and did not seize the chance. So in your career don’t you flub it and be ready with a concise and enchanting 2 minute spiel.
Margin or margins is a word you hear a lot in business. I want to talk about what it means and why it is important today on MBA Mondays. I did talk about margins once before, in the context of the income statement, back when we were walking through the basic financial statements. But I’d like to talk about the concept outside a strict accounting definition.
Margin is the amount of money you make on each incremental sale or unit of revenue before factoring in the “fixed costs” of your business. Fixed costs would be things like the rent on your office, your administrative team, and the people who do your accounting/bookeeping work for you. The key concept to wrap your head around is some costs rise and fall based on how much revenue you have and some costs are fixed and are the “cost of keeping the doors open.” ….