What is a government to do when rampant inflation cripples a currency and the public’s faith in it’s ability to hold value? Brazilian policymakers faced this very question nearly thirty years ago. In a bold move, they chose to answer this question by creating and marketing a new currency–the Unit of Real Value–which existed in …
How the Brazilian government used psychology to market a new currency Read More »
A few weeks ago, we played a game in my Procurement and Supply Chain class—the beer game. Contrary to the schema that was just invoked in your mind, and unfortunately for the participants, the beer game involves no actual beer. Rather, the game simulates the challenges of distribution through multiple levels of a supply chain …
Emotional responses should not be overlooked: lessons from the beer game Read More »
Most Advanced Yet Acceptable Humans are driven by the two opposing forces of neophilia and neophobia. We’re innately attracted to what’s new, but we are apprehensive when we do not understand it. These are the underpinnings of industrial design giant Richard Loewy’s concept of MAYA. MAYA is an acronym for Most Advanced Yet Acceptable, and …
Favoring abstraction and ignoring human nature: why they won’t listen to your ideas Read More »
A recent trip to Starbucks Reserve repositioned my perception of the Starbucks philosophy. Reserve embodies the notion of a customer-centric experience through the manipulation of their ingredient. The ingredients we employ in our businesses are just means to an experience.
