The Future and Q

  Just before a certain fight with Evander Holyfield, Mike Tyson famously said, “Everyone has a plan until they get punched in the mouth.” Now, to be sure, Mike was giving his twist on an old says that “no plan survives first contact with the enemy,” but what some people might not realize is what is true in the boxing ring and on the battlefield is also true when it comes to corporate planning. History is replete with companies getting punched in the mouth despite their best planning and intentions. One example of this was back in the 19 th century when Western Union got smacked in the mouth by the invention of the telephone. Western Union had managed to monopolize the telegraph industry and spent a great deal of money and time making sure that they had reached saturation with telegraph wires, stations, and operators, but what they hadn’t foreseen was the invention of a technology that completely devalued their work in the telegraph industry. Telegraph as a technology was revolu...

  Introduction Life is really strange sometimes – we can find success in places we never expected, in ways that seem like failures and more – through means already known but not applied in the way that we would have applied them. This assignment asks that I sit down and look at three words – Serendipity, Error and Exaptation – and break down how innovation has happened as a result of these words. Serendipity How I would define Serendipity is a chance encounter that borders on unlikely without trying to make it happen. The scholarly definition is the phenomenon of making fortunate discoveries by accident, often while looking for something else. (Makri & Blandford) An example of this would be from the Individual Project I wrote a few weeks ago—the discovery of Penicillin by Alexander Fleming. Alexander accidentally left a petri dish uncovered when he went on vacation. When he returned, he found that mold had contaminated the dish and that the bacteria around the mold ...

  Scenario-type planning is a strategic method that enables organizations to visualize and prepare for various potential futures. Unlike traditional forecasting, which often relies on linear projections based on historical data, scenario planning involves creating a range of plausible future scenarios that consider different variables and uncertainties. This approach helps organizations to anticipate potential disruptions, explore diverse outcomes, and develop flexible strategies. By imagining multiple futures, companies, and organizations (including think tanks) can better understand the complexities and interdependencies of the factors that could impact their business, allowing for more robust decision-making. Hedge funds and large banks have been executing studies and planning like this for years to better predict how people will spend their money in coming years so these entities can better position themselves to realize as much profit as possible. The value of scenario-typ...