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Showing posts with the label competence trap

Just my thoughts #0764

Tendency: The force that maintains a phenomenon’s movement in a consistent direction. Therefore, as long as this tendency persists, the future can be predicted within certain limits. When tendencies change, so does the future. The surest way to get wealthy is to know the future first. Of course, just knowing the future isn’t enough. Still, it’s clear that those who see the future faster and have a wealth of knowledge will have an advantage in competition. In society, people operate under a common direction that its members agree upon and believe in, and they have the power to maintain that direction. For example, a brief fashion trend, the ongoing rain during the rainy season, or the inertia in physics that keeps an object moving at the same velocity unless acted upon by an external force. Once a force moves in a specific direction, it tends to continue in that direction. By carefully reading trends, you are more likely to build wealth or achieve social success. - Joseph’s “just my tho...

Just my thoughts #0056

Success always has two faces. One is achievement and the other is complacency. There's a term in business administration called the " Competence Trap". It refers to the belief that if people cling to and repeat past successes, they will continue to be successful in the future. Xerox, which invented the world's first personal computer; Chrysler, which missed the SUV market because of the success of the minivan; and Kodak, which invented the world's first digital camera but failed to aggressively market it for fear of losing its main business, film. Humility is not an etiquette, but a shared destiny essential to success. - Joseph’s “just my thoughts”