Unravel (and Follow) the Rules Ric Merrifield

ISBN: 9780137031511

Published:

ebook

10 pages


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Unravel (and Follow) the Rules  by  Ric Merrifield

Unravel (and Follow) the Rules by Ric Merrifield
| ebook | PDF, EPUB, FB2, DjVu, audiobook, mp3, RTF | 10 pages | ISBN: 9780137031511 | 8.22 Mb

This is the eBook version of the printed book. If the print book includes a CD-ROM, this content is not included within the eBook version.Read the following excerpt from Rethink, Chapter 7: Unravel (and Follow) the Rules. In rethinking yourbusinessMoreThis is the eBook version of the printed book. If the print book includes a CD-ROM, this content is not included within the eBook version.Read the following excerpt from Rethink, Chapter 7: Unravel (and Follow) the Rules.

In rethinking yourbusiness to put aside how in favor of what as your unit of analysis, your view of your company has been expanded through the lenses of value, performance, interconnectedness, and predictability. Now its time to think about government regulation. That is not to suggest that the laws and rules set forth by the various branches of government are anything new- they have long loomed large in every companys business plan and daily operation. What this chapter offers are new ways to incorporate compliance needs into your planning.

The tale of Intrade, the Dublin-based, online prediction market, is instructive. For the first four years of its life, the company barreled from strength to strength. The lure was strong: Members could buy or sell futures contracts on upcoming events-anything from the outcome of an election to the likelihood of Osama Bin Ladens capture. If the price of the contract rose high enough or sank low enough, members could make a bundle.

The founder and CEO, John Delaney, didnt have to worry about promotion. Intrades market predictions were so accurate that the media followed them closely and often. In 2004, for example, it accurately predicted the outcome of the presidential election and all but one member of the U.S. Congress. Why so accurate? According to Harvard economist N. Gregory Mankiw, Everybody has information from their own little corner of the universe...

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