A lesson on entrepreneurship from a two-dollar flower bouquet sold in India

A lesson on entrepreneurship from a two-dollar flower bouquet sold in India

By Mridula Chari, Scroll 9 hours ago

Among Mumbai’s more abiding urban legends is the one that the bouquets sold at traffic lights are actually floral offerings stolen from the city’s graveyards. How else, the logic goes, could the vendors afford to sell flowers so cheap?

The truth, it turns out, is less morbid. Far from skulking around cemeteries at night and making off with flowers left there by grieving relatives, certain street sellers in south Mumbai have a far more reputable source for their wares: five-star hotels. Read more of this post

One Reason Cross-Cultural Small Talk Is So Tricky

One Reason Cross-Cultural Small Talk Is So Tricky

by Erin Meyer  |   8:00 AM May 30, 2014

It was my first dinner party in France and I was chatting with a Parisian couple. All was well until I asked what I thought was a perfectly innocent question: “How did the two of you meet?” My husband Eric (who is French) shot me a look of horror. When we got home he explained: “We don’t ask that type of question to strangers in France. It’s like asking them the color of their underpants.” Read more of this post

Reinvent Your Company by Reassessing Its Strengths

Reinvent Your Company by Reassessing Its Strengths

by Ken Favaro  |   11:00 AM May 30, 2014

Strategic consistency is the hallmark of many great companies. Southwest Airlines’ decades-long strategy of “short-haul, high-frequency, point-to-point, low-fare service” produced what was not only one of the best-performing airlines in the U.S. over the last half-century, but also one of the best-performing companies in any industry. For over 50 years, Wal-Mart has pursued essentially the same strategy of “offering the lowest price so its customer can live better.” Wells Fargo has become the most valuable bank in the world by sticking to its strategy of building a value proposition around selling more products per customer than anyone else. And the essence of Walt Disney’s original strategy remains intact today: to construct a range of businesses — from animated film to fun parks, TV, retail, cruise ships, and more — around a group of engaging, family-friendly characters. Read more of this post

Abbott CFO: How and Why to Spin Off

May 30, 2014, 2:50 AM ET

Abbott CFO: How and Why to Spin Off

NOELLE KNOX

Editor, CFO Journal

Abbott LaboratoriesABT +1.04% split into two companies at the beginning of 2013. Abbott retained the name and medical products business. The pharmaceuticals business is called AbbVieABBV +0.56% and its stock trades separately. Abbott’s Chief Financial Officer Tom Freyman spoke to CFO Journal Editor Noelle Knox about the logistics of the deal. Read more of this post

Book Review: ‘The People’s Republic of Amnesia’ by Louisa Lim & ‘Tiananmen Exiles’ by Rowena Xiaoqing He

Book Review: ‘The People’s Republic of Amnesia’ by Louisa Lim & ‘Tiananmen Exiles’ by Rowena Xiaoqing He

For younger Chinese today, the Tiananmen Square massacre is a story ‘made up’ by the Americans—or if anything did take place it was ‘a CIA conspiracy.’

BENJAMIN L. READ

May 30, 2014 5:47 p.m. ET

A quarter-century has passed since the 1989 movement that shook Beijing and almost brought down the ruling Chinese Communist Party. Yet the passage of time has not necessarily made it easier to grasp the full dimension of the six weeks of protests around the country and the brutal suppression that began on June 3. Read more of this post

Rice, Wheat and the Values They Sow

Rice, Wheat and the Values They Sow

ALISON GOPNIK

May 30, 2014 6:38 p.m. ET

Could what we eat shape how we think? A new paper in the journal Science by Thomas Talhelm at the University of Virginia and colleagues suggests that agriculture may shape psychology. A bread culture may think differently than a rice-bowl society.

Psychologists have long known that different cultures tend to think differently. In China and Japan, people think more communally, in terms of relationships. By contrast, people are more individualistic in what psychologist Joseph Henrich, in commenting on the new paper, calls “WEIRD cultures.” Read more of this post

The Great Swindlers: Some of history’s biggest scam artists ran Ponzi schemes decades before Ponzi

The Great Swindlers

Some of history’s biggest scam artists ran Ponzi schemes decades before Ponzi.

AMANDA FOREMAN

May 30, 2014 7:19 p.m. ET

Great swindles used to have a face or at least a name to vilify. By contrast, our current financial scandals seem diffuse, transnational and as incomprehensible as their acronyms. Libor, ISDAfix and now HFT, or high-frequency trading—all were once regarded as harmless instruments that facilitated the movement of capital. But there was more to them than met the eye. As the best-selling financial writer Michael Lewis, author of the recently published “Flash Boys,” recently said on “60 Minutes,” “The United States stock market, the most iconic market in global capitalism, is rigged.” Read more of this post

JPMorgan Reading List

JPMorgan Reading List

by VW StaffMay 29, 2014, 3:24 pm

Following are the book recommendations from JPMorgan as seen on their website.

JPM states:

The Reading List began as a way for us to share timely, thoughtful and relevant titles that piqued our interest – and that we thought would excite our clients as well. The original list quickly grew to two annual selections, and this year we have reached the 15-year mark.

JPMorgan reading list: Things a Little Bird Told Me Read more of this post

Beyond Agency Theory: The Power of Integrity (PDF of PowerPoint Slides)

Beyond Agency Theory: The Power of Integrity (PDF of PowerPoint Slides)

Michael C. Jensen 

Harvard Business School; Social Science Electronic Publishing (SSEP), Inc.; National Bureau of Economic Research (NBER); European Corporate Governance Institute (ECGI)

Werner Erhard 

Independent
May 1, 2014
Harvard Business School NOM Unit Working Paper No. 10-068
Barbados Group Working Paper No. 10-02

Abstract: 
There is far too much concern today about the conflicts of interest between people; for example, agency theory (the conflicts of interest between agents and owners) — a favorite topic of Jensen — and not enough attention paid to the damage caused by an individual’s conflict of interest with himself or herself.
We argue here that a large amount of the damage inflicted on people and organizations is caused by actions of individuals that are not in their own self interest. That is, people consistently impose costs on themselves, their loved ones, friends, associates, partners, employers and the public by actions that are not in their own self interest. Read more of this post

Regenerating teeth: It may be possible to stimulate decayed teeth to repair themselves

Regenerating teeth: It may be possible to stimulate decayed teeth to repair themselves

May 31st 2014 | From the print edition

REGENERATIVE medicine is a field with big ambitions. It hopes, one day, to repair or replace worn-out hearts, livers, kidneys and other vital organs. Many people, though, would settle for a humbler repair—of their teeth. Read more of this post

Mitochondria and male lifespan: Women outlive men. An evolutionary curiosity may explain this

Mitochondria and male lifespan: Women outlive men. An evolutionary curiosity may explain this

May 31st 2014 | From the print edition

WHY past generations regarded women as the weaker sex is a mystery to anyone who has examined the question objectively, for they are far stronger than men—outliving them in pretty well every society in the world. Partly that is because men are more violent, and their violence is largely directed at other men. But partly it is physiological. Men seem to wear out faster than women do. Yet no one knows why. Read more of this post

Brawn v brain: Muscled out; Human beings are brainy weaklings

Brawn v brain: Muscled out; Human beings are brainy weaklings

May 31st 2014 | From the print edition

THAT swots are weedy and jocks are stupid is a high-school cliché. But a paper just published in PLOS Biology by researchers at the Chinese Academy of Sciences and the Max Planck Institutes in Germany suggests there may be an evolutionary grain of truth in it. When Katarzyna Bozek and her colleagues looked at how quickly human tissues have evolved, compared with those of other mammals, they found that as the human brain has got stronger, so the species’s muscles have got weaker. Intriguingly, in a demonstration of the importance of serendipity in science, this was not a hypothesis they had set out to prove. Read more of this post

This Is Jack Ma’s Inspiring, First-Ever Speech To The Early Alibaba Team

http://vimeo.com/ondemand/crocodileintheyangtze/94930824

This Is Jack Ma’s Inspiring, First-Ever Speech To The Early Alibaba Team

JILLIAN D’ONFRO TECH  MAY. 30, 2014, 2:58 AM

Former English teacher Jack Ma founded Alibaba, the Chinese e-commerce giant that’s about to IPO in the U.S. this year, out of his small apartment in 1999. Read more of this post

Read The Passionate Memo Fox Boss Sent Staff Before His Abrupt Departure Today

Read The Passionate Memo Fox Boss Sent Staff Before His Abrupt Departure Today

ALY WEISMAN ENTERTAINMENT  MAY. 30, 2014, 3:00 AM

Kevin Reilly, Chairman of Fox Entertainment, was in the midst of overhauling the network when it was announced today that he will depart Fox Broadcasting Company by the end of June.

The LA Times reports, “The major shake-up comes after the Fox television network wrapped up a bruising season, with ratings for its regularly scheduled shows slumping. Reilly’s decision to leave had been in the works for several weeks, and negotiations accelerated this week.” Read more of this post

Some People Might Unknowingly Carry The Key To Curing Deadly Diseases

Some People Might Unknowingly Carry The Key To Curing Deadly Diseases

KEVIN LORIA SCIENCE  MAY. 30, 2014, 5:44 AM

When trying to understand a disease, researchers typically study sick patients.

In many cases, genetic factors can explain why some people get sick, or why people are predisposed to an illness. But most of the time, knowing about a genetic predisposition for certain diseases hasn’t shown us how to prevent or cure that illness. Read more of this post

Roger Easton, Father Of GPS, Dies At 93

Roger Easton, Father Of GPS, Dies At 93

Posted yesterday by Jordan Crook (@jordanrcrook)

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Roger Lee Easton, Sr., the father of GPS and pioneer of modern day navigation, died May 8 at his New Hampshire home, according to BusinessWire. Read more of this post

10 rules Andrew Carnegie used to become one of the world’s richest men

10 rules Andrew Carnegie used to become one of the world’s richest men

Richard Feloni, Business Insider | May 30, 2014 6:01 AM ET

Andrew Carnegie arrived in the U.S. in 1848 with barely a dollar to his name. By 1901, he was the richest man in the world.

At the height of his power, he was approached by a young journalist named Napoleon Hill who was interested in telling the stories of successful people. Read more of this post

The real 10 algorithms that dominate our world

The real 10 algorithms that dominate our world

Maybe a little more than 10

The other day, while I was navigating Reddit I found an interesting post that was called The 10 Algorithms That Dominate Our World by the authorGeorge Dvorsky which was trying to explain the importance that algorithms have in our world today and which ones are the most important for our civilization. Read more of this post

Cultural attaché to executives: Brad Grossman is in the business of keeping his clients informed

May 29, 2014 6:08 pm

Cultural attaché to executives

By Emma Jacobs

Afew years ago a job notice circulated in Hollywood for a “cultural attaché” for Brian Grazer, the Oscar-winning producer behind films including A Beautiful MindFrost/Nixon and Rush.

To some it seemed like an urban myth. Not to Brad Grossman. He had held the post for four years and wrote the job spec for the position, which he called an “ideas curator” back in 2008 when curating was a job undertaken only in art galleries. It was, he reflects, “the coolest job in the world”. Read more of this post

The Perils of Silos in Risk Management; In extreme cases, silos can become miniature ecosystems, each with its own risk culture and practices

May 29, 2014

CFO.com | US

The Perils of Silos in Risk Management

In extreme cases, silos can become miniature ecosystems, each with its own risk culture and practices.

John Bugalla and Kristina Narvaez

Silos, or autonomous units, can exist in most organizations. It’s no surprise that risk management can be divided into “siloed” functions, and it’s commonly done. Among their advantages: Silos can enable risk management specialization by business unit. For example, in a siloed structure the finance department can manage credit, interest, market and liquidity risks, while the information technology department can handle security and privacy perils. Such specialization is an essential component of developing a rich variety of risk management expertise within the organization. Read more of this post

Alibaba Fun Facts: Rejection Turned Into Success

Alibaba Fun Facts: Rejection Turned Into Success

by Michelle JonesMay 29, 2014, 12:02 pm

A firm calling itself a “reverse Alibaba” shares some fun facts about Alibaba’s rough start

Alibaba’s initial public offering is one of the most highly anticipated ones this year, but sentiment surrounding the company wasn’t always so high. In fact, 40 different venture capital firms in Silicon Valley rejected the Chinese online retailer, according to Gloglou, a company which says it “provides ‘reverse Alibaba’ services” designed to help companies market their products and services to China. Read more of this post

Cao Dewang, chairman of Fuyao Glass; Herding oxen as a boy gave the tycoon the drive to succeed

THE MONDAY INTERVIEW

May 25, 2014 2:05 pm

Cao Dewang, chairman of Fuyao Glass

By Demetri Sevastopulo in Hong Kong

image001

Reflective: Cao Dewang’s company supplies glass to carmakers from Toyota and VW to BMW and Bentley

Cao Dewang became the biggest Chinese investor in Ohio this year when Fuyao Glass, the car glass manufacturer that he founded in 1987, spent $200m buying an old General Motors factory in Dayton. Read more of this post

Can Confucianism save the world?

Can Confucianism save the world?

Sunday, May 25, 2014 – 03:00

Joseph Chan

The Straits Times

Confucianism needs saving because it is a very old tradition of thought that can no longer speak effectively to the modern world without systematic reconstruction.

Confucianism also needs saving because of the chronic gap between its political ideals and the reality of societal circumstances. But to save Confucianism and to let it save the world, we must first learn from its profound insights – and its profound failures. Read more of this post

The Mysterious Origins Of The Swastika

The Mysterious Origins Of The Swastika

WENDY CHRISTENSEN PHD, THE SOCIETY PAGES SCIENCE  MAY. 24, 2014, 8:01 PM

I found this 1917 advertisement for swastika jewelry while browsing through the NY Public Library Digital Gallery. The text reads in part:

To the wearer of swastika will come from the four winds of heaven good luck, long life and prosperity. The swastika is the oldest cross, and the oldest symbol in the world. Of unknown origin, in frequent use in the prehistoric items, it historically first appeared on coins as early as the year 315 B.C.

As this suggests, while the symbol of the swastika is most frequently associated with Hitler and Nazis during World War II, and is still used by neo-Nazi groups, the symbol itself has a much longer history. From wikipedia:

Archaeological evidence of swastika-shaped ornaments dates from the Neolithic period. An ancient symbol, it occurs mainly in the cultures that are in modern day India and the surrounding area, sometimes as a geometrical motif and sometimes as a religious symbol. It was long widely used in major world religions such as Hinduism, Buddhism and Jainism.

Before it was co-opted by the Nazis, the swastika decorated all kinds of things. Uni Watch has tons of examples. Here it is on a Finnish military plane:

Boy Scout badge:

A women’s hockey team called the Swastikas from Edmonton (from 1916):

Another hockey team:In the comments, Felicity pointed to this example:

She writes:

My mom is a quilter and collects antique quilts (when she can afford them). She says that while in general, antique quilts and quilt-tops have gone up a great deal in price over the decades, there’s still one sort you can pick up for a song — swastika quilts. Read more of this post

Don’t Believe Anyone Who Tells You Learning To Code Is Easy

Don’t Believe Anyone Who Tells You Learning To Code Is Easy

Posted 35 minutes ago by Kate Ray (@kraykray)

Editor’s note: Kate Ray is the technical cofounder of scroll kit, a visual webpage creation tool that was recently acquired byWordPress.com

One of the most dangerous things I’ve seen happen to people who are just starting to code is being told that it’s easy.

Here’s what your brain does: Read more of this post

5 reasons managers trade too much

5 reasons managers trade too much

Peter Hodson | May 23, 2014 5:40 PM ET
We all know that management and other fees are some of the main reasons mutual funds constantly underperform, but another reason that gets far too little discussion is that managers trade way too much. Read more of this post

One Of Silicon Valley’s Top App Designers Tells Us His Secrets To Success

One Of Silicon Valley’s Top App Designers Tells Us His Secrets To Success

LISA EADICICCO TECH  MAY. 24, 2014, 11:13 PM

Apple’s App Store is filled with more than one million iPhone and iPad apps.

Chances are, even those who can’t put down their phone for more than five minutes haven’t sifted through a fraction of what the App Store has to offer.  Read more of this post

How To Get Your Point Across

THE 4 ESSENTIAL ELEMENTS TO GETTING YOUR POINT ACROSS

SHOWING EMPATHY IS ONE OF THE KEYS TO BUILDING GREAT RELATIONSHIPS AND BETTER COMMUNICATION. BUT HOW DO YOU GET PERSONAL WITHOUT OVERSTEPPING YOUR BOUNDS? HERE’S A GUIDE FOR STRIKING THE RIGHT BALANCE.

BY ROBERT KETEYIAN

If you want people to listen to you–really listen–it may be time to take up juggling.

Not literally, of course, but successful communication requires you to be good at a number of things, some of which may seem counter to the other. Read more of this post

Leo Buscaglia on Education, Industrialized Conformity, and How Stereotypes and Labels Limit Love

Leo Buscaglia on Education, Industrialized Conformity, and How Stereotypes and Labels Limit Love

In the winter of 1969, shortly after a young woman he considered one of his brightest and most promising students committed suicide, Leo Buscaglia decided to deal with the flurry of confusion by starting an experimental class at the University of Southern California where he taught, exploring the most essential elements of existence – “life, living, sex, growth, responsibility, death, hope, the future.” The obvious common tangent, “the only subject which encompassed, and was at the core of all these concerns,” was love. So he simply called his course “Love Class.” While some of his fellow faculty members dismissed the subject as “irrelevant” and mocked its premise, the university agreed to let Buscaglia teach it on the condition that it be without course credit and he teach it free of salary in his spare time. Over the three years that followed, the course – not a scholarly or deeply philosophical study of love but “a sharing of some of the practical and vital ideas, feelings and observations” related to the human condition – earned Buscaglia the moniker “Dr. Love” and became one of the university’s most popular classes, drawing students of all ages and backgrounds. In 1972, Buscaglia published the most universal and important of those ideas in a slim and potent volume titled Love: What Life Is All About (public library). Read more of this post

Bob Dylan on Sacrifice, the Unconscious Mind, and How to Cultivate the Perfect Environment for Creative Work

Bob Dylan on Sacrifice, the Unconscious Mind, and How to Cultivate the Perfect Environment for Creative Work

Van Morrison once characterized Bob Dylan (b. May 24, 1942) as the greatest living poet. And since poetry, per Muriel Rukeyser’s beautiful definition, is an art that relies on the “moving relation between individual consciousness and the world,” to glimpse Dylan’s poetic prowess is to grasp at once his singular consciousness and our broader experience of the world. That’s precisely what shines through in Paul Zollo’s 1991 interview with Dylan, found in Songwriters On Songwriting (public library) – that excellent and extensive treasure trove that gave us Pete Seeger on originality and also features conversations with such celebrated musicians as Suzanne VegaLeonard Cohenk.d. langDavid ByrneCarole King, and Neil Young, whose insights on songwriting extend to the broader realm of creative work in a multitude of disciplines. Read more of this post