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| Activation Energy | A term borrowed from physics and chemistry which denotes a minimum threshold of energy required to start a reaction. In management, it implies the necessary support from leadership and employees to bring about a change or start a process.
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| Active Listening | Listening process where the opinion of others is heard understood and processed before replying. It is important for resolving conflict and showing empathy towards the speaker. Negotiations are also governed based on this learning process. → Read more |
| Ad Hominem | The false reasoning technique where the arguments attack the personal life or character of the others rather than debating on the issue at hand. Usually, it is considered as an avoidance technique to enter into the issue based debate probably because of lack of facts or clear understanding of the topic. → Read more |
| Adaptation | The process of incorporating new changes in one's personality with reference to the biological aspects or behavioral aspects. Evolution is based on the application of this concept where the best of nature is adapted for survival.
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| Algebraic Equivalence | A mental model derived from algebra which states the difference between same and equal. A useful tactic to show subordinates that all of them cannot receive the same treatment all the time but it will always be equal like x is equal to a number but the value of x can vary.
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| Alloying | Combination of different metal products for the creation of new products that are better in nature and can have the properties of the combining metals. The molten state of the two metals is used for solidifying and creating a new product, which is known as an alloy. → Read more |
| Anecdotal | Unscientific data usually which is based on the personal experience of the ones narrating it. Usually, investigations where facts and scientific clues are not present, this type of evidence are used where witnesses have an important role as compared to the other evidence present (if present, as it is lacking in such cases). → Read more |
| Appeal to Emotion | A technique where the emotion of the audience is played with to generate the required result, advertisements and political campaigns use this technique for grabbing the attention of the audience and yielding results. → Read more |
| Appeasement | Diplomatic measures in which the smaller state manages to provide material concessions or involve in material acts to avoid the possibility of the conflict. The smaller states might be on the right end but conflict avoidance with one of the largest countries makes them do this. → Read more |
| Arbitrage | The practice of making a profit through price difference that exists in two or more markets. The difference in the price of both the markets is the profit earned during this activity. But the window of conducting such operations is very small in an open market economy. → Read more |
| Arguing from First Principles | First principles are the basic building blocks or arguments on which a concept is built. These fundamentals cannot be reduced any further and always hold true which makes arguments based on them to forget the established practices and thin creatively for solutions based on the first principles.
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| Arrow’s Theorem | A social-choice paradox which states that there is no procedure for ensuring all reasonable assumptions of unrestricted domain, non-dictatorship, independence of irrelevant alternatives and Pareto efficiency are satisfied whenever a choice of three or more alternatives is presented. In any scenario, it is not possible to fulfil all three of these assumptions.
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| Asymmetric Warfare | A situation of conflict in which the two opposing sides vary greatly in terms of their resources. 9/11, the war on Afghanistan and Syria are all cited as examples of asymmetric warfare where professional armies with sophisticated equipment fight insurgents or unlawful
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| Attrition Warfare | Considered to be a dirty tactic to be used as a last resort, attrition warfare believes in wearing down the enemy completely through a well-planned strategy of hitting out at their men and other resources. The aim is to defeat the enemy through total submission.
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| Availability Bias | A decision-making short-cut where the person chooses an alternative or believes in something based on how quickly it is recalled. This reflects that more recent or more prominently featured news is believed to be important and true rather than all the facts.
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| Bandwagon Effect | The act of individuals, which are based on the fads or the trends of the society rather than their own beliefs. Being the part of the majority group is the ultimate purpose of such a practice, which might not be achieved every time because of the conflicting viewpoints. → Read more |
| Barriers to Entry | The obstacles faced by the business when starting a new business or the company. They are usually in the form of the high-cost price of the resources or other litigation process involved in the startup of the business. Such barriers protect the existing players of the industry as no new players can enter in the market with high barriers to entry → Read more |
| Beachhead | Beachhead comes from military strategy where it is used to denote the need to focus energy and resources on a small area to hold it as a stronghold. Such a strategy is useful for start-ups who focus on one market or one product to compete against conglomerates.
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| Bell Curve/Normal Distribution | A concept of statistics, normal distribution is depicted through a bell-shaped curve which signifies that average scores are concentrated in the middle with outliers forming a thin line on both sides. Bell curves are used in force ranking employees in performance appraisals.
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| Best Alternative to a Negotiated Agreement (BATNA) | An alternative strategy in case of failed negotiation terms for an agreement. Negotiations might not always reveal the best results or an agreement, so in that situation, the option followed by the parties is prearranged and can provide them saving. → Read more |
| Bias from Incentives | Hidden incentives can modify the behavior of an individual in the direction of the situation, which benefits them. It can be linked to the concept of reinforcement where negative and positive reinforcements are made the part of general governance to alter the behavior of the individuals based on the needs.
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| Black box | The situation where the internal working of a device or organization is hidden, mostly to keep those processes undercover. → Read more |
| Black or White | No sides are to be taken by the argumentations. They can provide the pros and cons of each side and analyze the overall impact, without considering a particular answer or side as right and the other one as wrong. → Read more |
| Black swan theory | Random and unexpected events that are explained in hindsight but have an enormous impact on the status quo. Coined to explain the 2008 recession, this term states that black swan events help to strengthen systems for future black swans and should be used for risk analysis and management.
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| Boots on the Ground | Active troops or personnel who are present on the ground in an operation or mission → Read more |
| Bullseye Framework | A stepwise process of finding the right distribution channel for a company after brainstorming available traction channels, running tests to find probable channels, and finally, focussing on the channel that will work. This process ensures that the best and most optimal channel is selected and a lot of useful data is generated.
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| Butterfly Effect | Explained as how the fluttering of a butterfly's wings weeks before can affect the details of a tornado, this effect shows the relevance of small occurrences in major events. A basis for chaos theory, this effect helps explain the sensitivity of complex systems and the difficulty to estimate their outcomes.
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| Cargo cult | The practice of imitating someone but not getting anything useful out of it. The religious school of thoughts that interact with the technological advancement of the Western world end up in imitating those practices in an inefficient manner. With the lack of complete knowledge of advancement, cargo-generating opportunities are created which lead to the creation of landing strips and much radios etc., but without any material benefits for the people or region.
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| Chain Reaction | The sequential following of events where each particular reaction gives rise to the other one and the reaction chain continues without stopping unless the resources provided are completely exhausted. → Read more |
| Chaos Dynamics (Butterfly Effect)/ (Sensitivity to Initial Conditions) | Shows the sensitivity of small changes in the beginning of a process that can lead to large variations from expected outcomes in later stages. An example of the impact of fluttering of a butterfly’s wings on the formation of a tornado is used to explain this phenomenon which has found limited research support.
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| Chilling Effect | The deprivation of individuals, organizations or states from pursuing the legal course of action against the others. It is against the right to free speech, free will, and free legal rights. → Read more |
| Churn rate | The rate at which the employees leave a job or the subscribers of emails unsubscribe to it. It can help in identification of the problems with the content message in the emails and the policies employed at the organization. → Read more |
| Cialdini’s Six Principles of Influence | Reciprocity, commitment/consistency, social proof, authority, liking and scarcity are the Cialdini's Six Principles of Influence. With these principles, Cialdini aimed at providing value to the listeners, making certain aspect socially acceptable and using the element of likeliness or authority along with the threat of not getting something as the prominent considerations for making the individuals do as they have previously said.
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| Circle of Competence | First defined as a tool for financial investments, this model states that every entity should define its boundaries of competence and then stick to doing what it knows and does best. This circle of competence helps a person, a team, or an organization in making smarter decisions and not wasting resources in areas beyond their expertise and knowledge.
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| Clarke’s third law | Any technology that is new and innovative cannot be differentiated from magic. This quote is used to explain everything from how the pyramids were made to even computers. This law is fairly controversial with arguments that it is not the technology but its learning which may eb construed as magic by the ignorant.
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| Cognitive Biases | The deviation of individuals from rational judgment because of a certain type of mindset. Behavioral economics and psychology usually discuss such deviation in behavior to know more about the human mind and the ways through which it can work and react to the stimulus. → Read more |
| Commitment & Consistency Bias | Individuals tend to react, continuously, in a way that they have created for them by prior dealings with the others or depicted in their decisions to remain socially acceptable. This commitment and consistency is the result of the personal and group pressure, which makes it difficult for people to change their decisions or overall direction.
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| Comparative Advantage | The upper hand gained by the individuals or companies over the others because of the uniqueness of the features and the skills possessed by them. It leads to better results for the companies from the financial perspective. → Read more |
| Complex Adaptive Systems | Systems formed of sophisticated, inter-related parts that can interact with each other in order to respond to changes in the environment. Organizations are an excellent example of Complex Adaptive Systems. → Read more |
| Confirmation bias | A cognitive bias where desires colour the search, interpretation, and recall of information. People use their desired objectives to influence how they perceive their circumstances making it a very dangerous bias that leaves the truth and all facts of a situation unattended.
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| Consequence vs Conviction | A consequence is an outcome or result of something and it is unpleasant and not good generally. Whereas, conviction is a formal decision and judgement of a jury or the judge in the law court that states that a person is guilty for a crime and must be punished for his acts → Read more |
| Consequentialism | A part of ethical theories, consequentialism denotes a condition where actions are justified by the consequences. There are various kinds of consequentialism: utilitarianism which believes in human wellbeing and hedonism which believes in maximizing human pleasure.
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| Conspicuous Consumption | The use of luxury products for improving the overall stats of an individual. Branded and luxury products are high prices, so using them reveals this type of consumption of goods. → Read more |
| Core Competency | The harmonized efforts made through the incorporation of comparative advantages possessed by the firms for achieving unique expertise that cannot be imitated by the other competitors. It helps in achieving financial benefits for the business. → Read more |
| Cost-benefit Analysis | The comparison of costs of the input and the output to provide an overall result. If the benefits outweigh the cost, then the overall generation of money can be expected. However, in case of higher costs than benefits, the particular investment or decision would not yield positive results. → Read more |
| Counterinsurgency | A war strategy of involving both civilians and the armed forces to contain insurgency and address its root causes. This ensures that the insurgents do not receive any sympathy and support from the civilians. The objective here is not to gain terrain but support from the masses.
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| Creative Destruction | The achievement of better technological realities that outcasts the previous ones. So, the use of resources to create better ideas and improved processes ultimately destructs the one that was in control previously, leading to the process of construction and destruction going simultaneously.
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| Critical Mass | The minimum quantity of fissile material required for a controlled chained nuclear reaction is called Critical Mass. It depends on the properties of nuclear material used. It also depends on the shape, temperature, density, purity and enrichment of the nuclear material. Critical Mass is utilized while designing the nuclear weapons. → Read more |
| Criticality | A term derived from Physics, occurs when a large amount of radioactive material is put together. This can start an uncontrollable chained nuclear reaction having an ability to sustain itself or sometimes by the surroundings condition. It often refers as the neutrons balance in the nuclear system. It is subdivided in Sub-critical and super critical. → Read more |
| Crowdsourcing? | Eeffective sourcing model through which individuals, group of people or organizations can achieve a common goal. The goal can be ideas or finances for a project or can be funds for needy people. Crowdsourcing has become a growing practice between the online community by which many people can help in achieving goals. It's literally coined from Crowd means number of people and Sourcing from Outsourcing. → Read more |
| Curiosity Instinct | Related to the discussion whether curiosity – a feeling that leads individuals to enquire, explore, investigate, and learn new things, is an instinct or not. Scientists have found that curiosity can lead to better learning, decision-making, and healthy development.
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| Deadweight Loss | The economic loss suffered by the society due to the inefficiencies in the market economy. Government policies that establish price floors, ceilings, and taxation regimes are often attributed as the cause for the inability to attain equilibrium and, hence, suffer a deadweight loss.
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| Deliberate Practice | A combination of meaningful and organized social practice. It is differentiated from the normal practice as it requires focus and attention towards the goal and have a clear vision of what will be the result with improvements. It requires just more than normal routine work like activities and workshops that will be helpful in improving the skills. → Read more |
| Design Pattern | Derived from architecture originally and now applied in software designing, design patterns are reusable best practices that are adopted as short cuts to solve new emergent problems. A general framework is developed by experienced developers and explained in detailed steps with hints to aid its application.
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| Directly Responsible Individual | The one who will be fully responsible for the project given to him/her. The term was furnished from Apple meeting, it says that there will be one individual who'll be responsible for an agenda or meeting all the criterion for that specific project. This technique has been adopted by many of the leading companies appointing DRI in their product management departments. → Read more |
| Distributive Justice vs Procedural Justice | Distributive justice means the act of a socially fair alloting of things. It means a society in which inequality as a result do not arise. Procedural justice is the idea of being just in the processes that solves fights and allocate things. It's related to discussion of applying justice and legal processes. → Read more |
| Divergent and Convergent Thinking | Divergent thinking uses a non-linear imagination to arrive at various possible solutions to a problem. In contrast, convergent thinking follows set steps or guidelines to arrive at one solution that fits the problem best. → Read more |
| Divide and Conquer | A theory which states that if there's a bigger problem, then it must be divided into smaller portions to decrease the impact and power of it. After the breakup, conquer the smaller problems easily. Divide and Conquer theory has been used by many Emperors in the past as a winning approach in war times. Distracting the group in smaller portions so that they can be defeated easily. → Read more |
| Dunning-Kruger Effect | A form of cognitive bias where people with inferior abilities mistakenly believe themselves to be superior to others. The main cause is the inability of such individuals to correctly assess their self-worth and compare it with their peers. It is also a barrier in learning and development as such people are unable to improve themselves without a realization of the need to do so.
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| Duverger’s Law | The presence of the opportunity for casting a single vote (plurality rule) supports two-party systems where the system of proportional representation gives rise to multiple parties in a particular area. This law helps in defining the relationship between the electoral system and the party system that exist in the countries.
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| Economies of Scale | The competitive difference between the larger vs smaller scale companies. It states that the larger the company scale to produce an item the lesser will be its price as compared to the increased cost of same item produced in small company. It applies to numerous companies or organizations. The economies of scale occur when the average cost of product start decreasing with the number of product increases. → Read more |
| Effective Altruism | The utilization of reasoning and proofs in order to make a decision that can create a positive impact on individuals or countries. It is mostly associated with the prioritization of projects that must be continued for the general welfare keeping the concept of limited resources and other factors affecting the ultimate impact, in mind.
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| Efficient-Market Hypothesis | An economic theory related to Finance and it states that share prices or the assets defines all the available information. This implicates that one cannot "outperform the market" continuously unless there's risk adjustments have been made because the stocks are always traded at fair prices. These implications make difficulties for the investors while buying and selling their assets. So investor can only be successful in getting higher values either by chance or by taking risks. → Read more |
| Emergence | The property that arises when the connections of properties started getting complex and concealed up to a point that it starts emerging to a new level. Emergence also refers to the entity that has been existing in the system and due to the growing properties of the system associated with it, the entity is also emerged because of its interaction with other entities or parts. → Read more |
| Empty Fort Strategy | This strategy uses reverse psychology for making the enemy retreat from the war, making the enemy believe that the abandoned place or a calm environment is actually a trap for them. Seeing such a situation the forces of the enemy get to the back foot and the battle ends. It has been the part of Chinese traditions.
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| Evolution by Natural Selection | The theory by Charles Darwin which states that due to the phenotypic differences and changes in traits whether they are heritable or not, individuals are reproducing generations with variations in characters. These variations are existing in all types of organisms. Darwin stated that natural selection in which individuals have heritable traits are better with survival because of the environment suitability. Variations will result in new species whenever isolation will happen. → Read more |
| Exit Strategy | A strategy that can be executed by any individual who have planned a venture or a business and that business has met his target or when a venture has hit his goals. Exit strategy can be made for both when the business reaches its target or even exceeded or when the operation or a business is meant to be closed because of the losses or non-profit. This strategy is mostly followed by business owners, traders or investors. → Read more |
| False Cause | Use of manipulative and wrong fallacies while establishing a causal connection. They are often made by the wrong reasoning. Repetitive and deceptive fallacies which may seems like true in reality but they never are. For example Drinking water will keep you alive, although its partially true but it's not really the case. → Read more |
| False Positives and False Negatives | The condition where the test results show affirmation with regard to the situation tested but in reality, the condition does not exist. On the other hand, the condition where the test results deny the existing of a particular situation to exist but in reality it does. Both these concepts are the opposite of each other and show the erroneous test results.
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| Falsification / Confirmation Bias | One's tendency to pick information that favors and confirms their ideas and beliefs. It allows us to keep associated with our beliefs no matter how the reality changes or evolved. Falsification on the other hand is the ability to disapprove old belief and ideas that were once considered true because of lack of information or evidence. It's a tendency to search for new information to reject one's own beliefs. → Read more |
| Fear of Missing Out (FOMO) | A form of social anxiety where a person is always apprehensive about losing out on rewarding experiences which others may be enjoying. Fuelled by the social media updates, this is a psychological disorder that leads to depression and negative moods.
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| Fear, Uncertainty, and Doubt (FUD) | A marketing strategy which instils fear, uncertainty, and doubt about the competitors’ products or even one’s own like in the case of smartphones to make consumers upgrade to a newer version. A FUD strategy may use the ploys of increasing prices, or limited stocks or for competitors, suggest that their products are defective.
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| Feedback Loops (and Homeostasis) | The signals from the body that are adjusting with the environment in which the body is sustaining. Feedback loops are of two types negative and positive, negative feedback loops are when the body is set according to the internal system while in positive feedback loops, the body start adjusting with the external environment to keep the regularity in the system. Homeostasis refers to the balance body requires to keep the system going. → Read more |
| Fighting the Last War | The phrase used when a strategy that has been successfully implemented in the past but it is not viable anymore and can't be implemented to win at something. It is because of the ever-changing scenarios and the development, Fighting the last war will be of no use and can be damaging for the organization or for the country. → Read more |
| Filling a Vacuum | A phrase which is used to fill the space that has been left by removing something or someone either forcefully or by their own choice. Generally it refers to the post or space that has been left by someone and there needs to be other person to continue the system. → Read more |
| Filter Bubble | The knowledgeable isolation that happens when websites use procedures to select specific information a user needs to see, and then give information accordingly by guessing. This is done on the basis of the information linked to the user for example browsing history, search history and location. → Read more |
| First mover advantage | The one who enters whether in the market or in some resources first. First mover advantage is that it can earn loyalty from the customers, can engage more audience as compared to the second movers and thus they can be successful by entering their name on top of the list. Another advantage is that they can be the controller of resources since there is no or low competition of that resource. → Read more |
| First Principles Thinking | First principles thinking breaks a problem down to its fundamental assumptions and later recreates it from the ground up, thereby fuelling creative solutions that cannot be arrived through analogy. → Read more |
| First-Conclusion Bias | Also known as confirmation bias, this is a cognitive bias where there is a tendency to accept the first conclusion as the solution to a problem and remain resistant to the search for any more alternatives. The first conclusion is heavily influenced by personal biases and beliefs and is further complicated by attitude polarization.
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| Flypaper Theory | The strategy where the army manages to bring the enemy, previously scattered, together at a position where they can be defeated easily. In this theory, the killing of enemies by trapping them at a location that favors the other side of the forces is considered as the major aim.
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| Focus on High-leverage Activities | This is a strategy of maximizing the use of one’s own time by focussing on those activities that can only be completed by oneself and which have far more returns for the energy and time put into doing them. The main task is to identify such activities and keep them on the priority for the day.
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| Forcing Function | Any work, activity or event that causes you to take any action without complete information and produce a result. It is an action done quickly under pressure unaware of the good or bad outcome that can happen → Read more |
| Fragility – Robustness – Antifragility | A concept where a system becomes stronger, better in capacity, more robust, and capable after experiencing stressors like mistakes and attacks. Antifragile systems have found applications in diverse fields from aeronautics to molecular biology with cryptocurrency being a famous example.
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| Framing | The concept in social sciences that how are we going to solve the problem or how we are going to do the task. Framing involves social gathering of ideas and people suggesting the solutions related to the problem or work. Framing represents personal thoughts, group ideas which can be demonstrated through social gatherings, political leaders or by mass media. By this one can get new perspective and thoughts related to a problem and can find solution easily. → Read more |
| Freemium | A term derived from the words 'free' and 'premium' refers to the users which are using free services can take advantages of premium services offered by the company or organization. It is used to describe a strategy developed by digital software houses that users can avail premium services for free for a short period of time. → Read more |
| Gate’s Law | Also called Wirth's Law, this states that software is getting slower more rapidly than the speed with which hardware is getting quicker. In fact, the speed of software is believed to reduce in half every one and a half years.
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| Generalist vs Specialist | People who have knowledge about every general thing related to their field of study or work. They are available for most type of work and are hired by small companies usually. Specialists are those who have specialized in their field and are specific and focused to their field of study and work. Specialists have understanding and strong grip on their work. → Read more |
| Godwin’s law | This law states that as the length of an online argument or discussion increases, the propensity for a Nazi or Hitler reference increases as well. This is, in fact, a caution against the use of exaggerated comparisons and shows the need to keep discussion rational and valid. Practically, such a reference is believed to cause the user to have used all his valid arguments and points and thus forfeit.
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| Gresham’s Law | This law states that “bad money will drive out good”, i.e. with two currencies in play with the same value, the one which cost more to be made will be driven out by the other. The reason for this is cited to be an increased premium for melting down the currency for its higher worth and using the cheaper version as currency instead.
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| Growth Mindset vs Fixed Mindset | These two terms were presented by psychologist Carol Dweck refers to the people having different mindsets. People who have fixed mindset are stuck with their abilities and qualities and they only believe that it is enough whereas People who have growth mindset are able to learn with the time and experiences, they know that they can excel if they will work hard. People have fixed mindset believe that their abilities are fixed traits and cannot be changed while it is totally opposite for the people with growth mindset. → Read more |
| Guerilla warfare | A type of warfare in which small groups consisting of armed personnel, military personnel and civilians with weapons use military techniques which includes sabotage, hit and run, sudden attacks, ambushes and raids to fight with a group having less armory and military trainings and manpower. The people who take parts in Guerrilla war are also known as violently active non-stare actor. → Read more |
| Hail Mary Pass | It is a very long pass made in football, which has lesser chances of success but such a shot is made in the case where the time remaining is lesser to aim a shot with normal passes. In general, terms, an effort made with a little hope of success.
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| Half-life | The scientific term used in radioactivity and it states that, 'How much time a quantity will take to decrease to it half of the original value'. The theory was formulated after the Ernest Rutherford experiment in the beginning of 20th century. Half-life is used to describe the time of decay for a quantity from its origin to the time it will take that value to reduce to the half. → Read more |
| Heisenberg Uncertainty Principle | This principle states that it is not possible to measure the exact position and the exact velocity at the same time for an object. This is so because when measuring the velocity, the nature of the object is affected which makes the accurate measurement of its position not possible and vice versa.
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| Hierarchical and Other Organizing Instincts | Social instincts that are being developed in the human nature with the passage of time. Hierarchical instincts refer to the group of people in which there will be a head or boss and other will be on lower ranks, this develop a sense of organized system in which a rule will be obeyed by all once it has been followed by their elders or bosses. → Read more |
| High context vs Low context Culture | A culture in which there needs to be human gesture and different tone to convey the message while in Low context culture, words and conversation are important in order to convey the messages. Low context culture relies on heavy usage of words with explicit vocabulary while in high context culture gestures, tone quality and movements are required to talk. → Read more |
| Hindsight Bias | The bias associated with the belief that the event was predictable (before its occurrence) after it has occurred. In reality, the basis of predictability of the event in the way it has occurred is never found. So, it is just the perception of people that they could have known about the event that has occurred.
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| Imposter Syndrome | A form of insecurity wherein a person is constantly threatened by the feeling of being exposed, of doubting their own skills and qualifications to be in their position, and of being a fraud. People who perceive themselves to be perfectionists, experts, and who prefer to work alone are more at risk.
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| Inflection Point | Turning point in any system, company or in an organization which can be positive or negative. Mathematically inflection point is the point on curve where the curves passes its tangent and the shape of the curves changes from concave upward to concave downward or it can be opposite. The curves show the turning point which reflects the positive and negative side of it. → Read more |
| Influence of Authority | It is the social principle that people who have authority have the ability to order or make something doable under their influence. Like the people having higher ranks will order people or junior rank because they have an influence. This is no just the case in ranks but also in other fields of life e.g. a professor who have higher level of knowledge will have authority over a student or a lecturer because he is more knowledgeable in that domain. → Read more |
| Influence of Stress (Including Breaking Points) | One major problem in human these days, the stress can be degrading and damaging one's health. The symptoms include anxiety, restlessness, lacking motivation and focus, sadness and depression. The influence of stress can be severe that it can creates mental health problems as well which can turn into life taking diseases. A person can be broken into pain and sadness, depressed under the influence of stress. → Read more |
| Information Asymmetry | A market condition, in which two buyers have differing levels of information which creates a power imbalance between them and, ultimately, a failure of the market forces. Adverse selection as in the media propaganda, moral hazards, and monopolies of knowledge in the elite are some examples.
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| Introversion vs Extraversion | The personality theories among the humans. Extraversion is the concept about the extroverts that these people are active, with to-do approach, they are active and they like to be with other people, they are outgoing and expressive about everything. Extroverts are charged and motivated when they are around the people. While Introversion is the phenomenon of the introverts who are pretty low and they like to spend time all by themselves. They are motivated by their own ideas and they like to stay in their own's self. → Read more |
| Irreducibility | It is not possible to remove or reduce an entity's features, explanations, and constituents beyond a point. There will always be elements that are unique and which define the entity, making it impossible to remove them.
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| Language Instinct | A theory that Language is not invented by humans rather it is an instinct that was being developed with the time. Many people have bad grammar and language and so have the new born kids are unable to speak. So there must be an instinct of language that is inbuilt in the humans and developed as they grow. → Read more |
| Law of Diminishing Returns | If one of the factors in the production is increased the output of that product will be marginally decreased because it is being affected by that increment of one factor while keeping all other constant. For example if the machines are increased in a workspace while the workers are constant, it will diminish the variable factor's output. → Read more |
| Law of Large Numbers | This law states that in large number of occurrences, the probability of outcomes fall near the expected values. For instance, a large sample size or many experiments of a single variable will show results that are on expected lines as extreme values are overcome.
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| Leverage | Concept of using something you have to magnify and achieve something better. The power to influence outcomes. → Read more |
| Local vs Global Optimum | Local optimum is a solution that best satisfies the locally available solutions whereas the global optimum is the best solution among all possible ones. → Read more |
| Long Tail | A business model which involves offering a large number of niche products that are low in demand and have a low sales volume. This is in stark contrast from traditional business models, which focus more on a small number of best selling products with a large market share. → Read more |
| Loss Aversion | The want of the people to reduce the risk involved while maintaining the same level of gains. It is most popularly seen in the investment concept where the loss averse people invest in the lesser risky alternative such as saving whereas the others can invest in business etc.
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| Loyalists vs Mercenaries | Loyalists are those who are fiercely loyal to a cause or a group and cannot be persuaded to switch their loyalty . On other hand, mercenaries are the hired help who are hired to do a job so their loyalty is dependent on the compensation/ benefits they receive. → Read more |
| Luck Surface Area | The chances of getting success. It is the possibility that an individual will win something or get the desired result. The larger the source area, the more are the chances of being lucky or being closer to the achievement of results. It can be considered like the surface area concept generally in use.
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| Makers vs Manager’s Schedule | The Maker's schedule is the focused, uninterrupted work that stretches multiple times a day. According to Maker's schedule, it requires someone half an hour to understand how the things are going to work, it also requires no disturbance while doing the work and the work can be done in different parts of a day or multiple times in a day. While the Manager Schedule is always consisting of meetings, rescheduling, more meetings, appointments and visits that will be continuously going on from days to month just to acquire the work and then more meetings to complete that work. → Read more |
| Margin of Safety | Concept derived from engineering where a gap is kept between the highest load possible and the expected load in order to provide for the uncertainties of use. Time and cost of resources impact the margin of safety the most. → Read more |
| Maslow’s Hierarchy of needs | A successive hierarchy of motives depicted in a pyramid which move from basic needs of food, shelter, and air, to safety, social needs, esteem, and finally, to self-actualization. Individuals are described to move on to the next need only when the lower one is fulfilled and remains to be so.
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| Metcalfe’s Law | A principle that states the value of a network increases with the numbers of its users. The value is believed to increase as a square root of the number of users, thus, showing a practical way to evaluate the worth of Bitcoin, Ethereum and any social media company.
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| Minimum Viable Product (MVP) | Developed as a tool for start-ups, MVP says that minimum product features are launched for early customers to receive their feedback and then introduce the full-fledged product line. A MVP feature should have sufficient value to attract first buyers, establish future benefits, and provide for a feedback mechanism.
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| Moore’s Law | It was presented by Gordon Moore, co-founder of Intel, it states that in an integrated circuit the number of transistors is doubled after every two years with the prices getting half in this time. He observed that since the invention of transistors, about each year the amount of transistors is getting double while the cost is getting half with the time. → Read more |
| Multiplying by Zero | Derived from a simple Mathematical rule, this signifies that however big the numbers which are multiplied by zero, the result is still zero. Any person or situation is determined not only by its advantages but by the weakest link that may nullify all the others.
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| Murphy’s Law | If anything can go wrong, it will go wrong. → Read more |
| Mutually Assured Destruction | A condition where human kind or a category of individuals are assured of destruction if they engage in conflict. A nuclear war is an instance of MAD where complete annihilation of the human race will leave no winners or survivors. → Read more |
| Narrative Instinct | A bias where current knowledge is explained by past cause and effect relationships that appear to be closest to self-beliefs, thereby, precluding all other causes that do not. → Read more |
| Natural Selection | Phenomenon of evolution because of the indifferent phenotype. The changing in habitats, various traits, inherited genes, differential reproduction all are accountable for the evolution which results the various changes in natural selection. All these factors affect the natural selection and thus Darwin came up with the term. → Read more |
| Nature vs Nurture | The Nature vs Nurture debate revolves around the gene vs environment debate. It refers to an individual's characteristics and its evolution through the time is the combination of their inherited which is genetically and by learning from the nature and experiences. Nature is considered as primary part of an individual soon after the birth while nurture is considered as part of genetical changes because of the exposure, experiences and external factors. → Read more |
| Network Effects | The impact created, if a product or service is used by more number of individuals as compared to the initial number of customers. It usually adds value to the product or service, which could not have been created if the number of users remained limited. → Read more |
| Niches | A specialized place, location or a group, which has well defined boundaries or particular characteristics. Even physical condition can be included. It is used for specifying the suitability or a particular orientation of species, business or another phenomenon under consideration. → Read more |
| Normal Distribution? | A distribution where most of the values fall in the middle region and equal but few at the sides. The data in this situation tends to be around the central value without showing any particular biasedness. Bell shape is formed when plotted on the graph. The middle portion is denser as compared to the side ones, giving this particular shape. → Read more |
| Nuclear option | Extreme response for a particular situation at hand. Used in the negative sense for portraying the extent of damage that can be created if the particular option is chosen. Highly drastic often damaging in nature and can yield long lasting impact. → Read more |
| Observer Effect | An effect observed after the Hawthorne experiments where the respondents behaved differently merely by the virtue of being observed. The workers in the Hawthorne factory showed an increase in productivity through all experiments because they were being observed in an experiment.
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| Open Platform vs Closed Platform | The ability of a program to function in ways other than the original creator of the function wanted it to do is an open platform. On the other hand, the ability of the program to restrict its functioning according to the aim of the original creator. → Read more |
| Opportunity Costs | The cost associated with the second best alternative when the first option is chosen. The option of picking the top item from the list leaves the other items unattended; the possibility of revenues or benefits associated with the option not chosen becomes the cost of choosing the first one. → Read more |
| Paradigm shift? | A significant change in one's opinion or belief about someone or something. It can be associated with general discussions or discussion about scientific concepts or theories. 360 degree revolution in ideas is often observed as a result. → Read more |
| Paradox of Choice | This concept states that having a huge number of choices greatly affects wellbeing by increasing anxiety and fear of failure due to missed opportunities. People who feel that the grass is always greener on the other side are called maximisers and are believed to be never satisfied with their choice.
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| Pareto Principle | 80% of the impacts are actually created from 20% of the causes governing the phenomenon. Applying it in specific fields, people can relate the cause and effects generated to the particular domains. For example, in business, 80% of the sales are generated from 20% of the customers. → Read more |
| Parkinson’s Law | Originally intended as humour, Parkinson’s law states that any job takes as much time to complete it as is available. This law has been used to explain the inefficiency of bureaucracy where the numbers of officers increase as work decreases. → Read more |
| Pavlovian Association | The association that develops between the biological stimulus and a neutral stimulus. It can be used for generating specific learning behaviors in animals. Through this association, animals can be encouraged to perform certain duties when the particular stimulus will be generated.
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| Peak Oil | In theory, it is the time when the highest value of extraction of petroleum is reached, then it is expected to start to decline. Peak oil theory is based on the observations of the increase, highest point, decrease, and reduction of total production rate in the oil fields over a period of time. → Read more |
| Peter Principle | Stated as "in a hierarchy every employee tends to rise to his level of incompetence", this principle states that people are promoted in organizations on the basis of their performance in t he current job till a level where they no longer demonstrate the abilities to perform the job to which they are promoted.
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| Poison Pill | The phenomenon which makes the acquisition of the target firm as disadvantageour=s for the acquirer Such actions are taken by the target firm deliberately for stopping the hostile acquisition of the target company.C8 → Read more |
| Precautionary Principle | The situation where there is a risk of damage to human or environment, specific action must be taken even if there is no solid evidence for the benefit that a certain action can bring in. but an attempt to save the humanity must be made as a precaution.
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| Preferential Attachment (Cumulative Advantage) | Distribution of money or credit based on the current holdings of money or credit by the individuals. The one holding more money or credit is given the higher amount and the individuals with lesser money or credit are given a lesser amount. In other words, money attracts money. → Read more |
| Preserving Optionality | The strategy where decision-making is quick and fluid so that all the options can be used in a given situation. In this situation, the uncertainties involved in the scenario are not resolved before the process of decision-making, so there is a chance that more than one option can be easily used and later changed, depending upon the new status of the problem.
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| Probabilistic Thinking | This kind of thinking is used to estimate the outcomes of a given situation by applying certain mathematical logic and equations. Some forms of probabilistic thinking are Bayesian logic, fat-tailed curves, and asymmetries. This thinking reduces the world into a probabilistic curve, with each outcome expressed in terms of its likelihood.
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| Proximate vs Root Cause | The cause, which is the ultimate reason for the existence of the particular phenomenon, is the root cause whereas the interim cause or the cause generated through the root cause is the proximate cause. Addressing the proximate cause to a problem cannot help individuals in managing the problem. For that, you need addressing the root cause. → Read more |
| Purchasing Power Parity | Theory, which believes that the price of a basket of goods can determine the equilibrium of the two currencies, considering the exchange rate factor under consideration. It helps in the economists in unifying the units of comparison and for analyzing the macroeconomic variables. → Read more |
| Pygmalion Effect | A condition where higher expectations actually lead to better performance. This is an example of the self-fulfilling prophecy where individuals internalise the positive label and work hard to justify it. → Read more |
| Randomness | Haphazardness in the data pattern or the non-aligned pattern of occurrence of a particular phenomenon. Historical data with such a value cannot help in the generation of future results and thus can yield problems. → Read more |
| Reciprocity | The exchange of the particular nature of acts in return for the similar nature of acts. Organizations, countries and individuals all indulge in this type of behavior where the kind deeds are rewarded with kind deeds whereas the cruel deeds are also reciprocated. → Read more |
| Regression to the Mean | A term first observed in statistics and now applied in finance, this shows that returns for long term investments are more stable than those in the short term. Extreme outcomes are followed by moderate ones as chance comes into play.
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| Regulatory Capture | The situation where the regulatory bodies created for the protection of interests of the public fail to do so rather gets involved in protecting and helping the interests of the special group of people. It can be considered as the government and administrative failure.
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| Relative Satisfaction/Misery Tendencies | The measurement of internal happiness or utility of a product or service on relative terms. Such a concept refers to the inclination of people to compare their condition with the people who are in control of more resources etc. This comparison leads to the dissatisfaction of such individuals with the possessions that they have. → Read more |
| Relativity | The condition or state of the particular object is measured in comparison to the other phenomenon existing in the vicinity of that object. Can be used in general world especially for measuring the condition of a moving object and a static one. → Read more |
| Renormalization Group | A specific mathematical apparatus that ensures the systematic evaluation of the changes in the physical state of the thing under consideration. Analysis can be performed at different levels to get a better view an understanding of the change.
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| Replication | The phenomenon of copying, reproducing or producing an identical content, state or phenomenon. There are no differences in the objects created through this process. An important aspect of the cell division process. → Read more |
| Representativeness Heuristic | It is used to make choices about the chance of an event that is under doubt. It's a group of heuristics who rule judgment defined as "judgmental shortcuts that generally help get us where we need to go often sending us off course". Heuristics use effort-lessening and simple ideas in decision-making. → Read more |
| Response Bias | A bias displayed by the respondents in research which affects the validity of surveys and interviews. The subjective element associated with the way the respondents perceive the immediate environment during the research; the phrasing of the questions, the demeanour of the researchers etc., are part of this bias.
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| Reversible vs Irreversible Decisions | The decisions, the impact of which can be nullified if the individuals want, then it is a reversible decision. The decisions where the impact created is long term and no changes can be made on the impact caused once the decision is taken, in this case, the decision is irreversible. → Read more |
| Rumsfeld’s Rule | A number of rules or lessons in life proposed by Donald Rumsfeld in his book based on his forty years’ experience in public office. Most rules suggest using one’s judgement and persevering for the causes one believes in.
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| Scale | Expand or grow in a proportional and usually profitable way or to gain large market position → Read more |
| Scarcity | The unavailability of goods, services, supplies etc. In the required quantity. Theoretical data is used for measuring this level. Competition is evident as a result of the occurrence of this phenomenon. → Read more |
| Scenario Analysis | A projection technique, which considers the overall situation by changing one or more of the factors affecting the outcome in each condition. Best case and worst case scenarios are the typical results of this technique, which can be evaluated based on the situation under consideration. → Read more |
| Scientific Method | Method to develop new phenomenon in natural science considering the necessity of new concepts but giving high importance to the element of validity. Formulation of hypothesis and its support through experimentation has been given high importance before it becomes a recognized fact. → Read more |
| Second-Order Thinking | Careful planning and estimation of the reaction between all variables in a situation till the end. Unlike first-order thinking, this phenomenon leads to divergent thinking and spurs creativity. → Read more |
| Seeing the Front | Getting to know what is ahead of a particular scenario, especially in the case where the current conditions and facts are misguiding. It is similar to seeing the ultimate result for a particular condition, especially in decision making. → Read more |
| Seizing the Middle | To get a mediocre approach, as a result, by combining the two extremes in a particular situation. An end result is usually a rational approach. This concept can be applied in any situation under consideration including the view points and the principle, ethical or moral stands taken by the individuals.
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| Selection Bias | The cognitive fallacy in which the data used for a particular scenario or experimentation involves biasedness because of the non-achievement of the true representation of the original population. The results generated through such a sample are often not considered authentic. → Read more |
| Self-Preservation Instincts | The activities that create pleasures in the mind of the individuals are encouraged by the brain whether it is for the short term or the long term pleasure. The positive reinforcement and associative learning can be associated with it. → Read more |
| Sensitivity Analysis? | The analysis of a particular situation by varying a few factors impacting the overall outcome for a situation. It helps in better decision-making. The element of uncertainty and the risk involved is managed as a result. → Read more |
| Sensitivity to Fairness | The nature of the individuals to search fairness in every dealing and dimension that they handle in life. It is actually a perception and such a perception does not always help the individual having this belief. In most cases, problems can also be faced.
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| Short-Termism | A tendency to focus on the short-term, easily visible results and ignore the long-term outcomes and visualization, ultimately affecting the business’s processes and management. → Read more |
| Simple Physiological Reward-Seeking | The behavior of an organism, which leads to activities, related to the survival of the individuals. Pain and fear are the driving forces behind this phenomenon as the threat to the existence is usually because of such activities. → Read more |
| Simpson’s Paradox | A condition of misapplying frequency distribution to explain causal relationships, thereby, leading to false results that disappear on proper inspection. This paradox warns against misinterpreting data without due reflection. → Read more |
| Slippery Slope | The initiation for any event with a small first step can lead to problems regarding the event. Getting back to the original event in the same conditions often not possible once such an impact is generated. An exaggerated version of the negative consequences of the decisions is usually because of the small first step. → Read more |
| Social Proof (Safety in Numbers) | Tendency for human beings to emulate the actions of others in order to “fit in” especially in ambiguous contexts. The psychological premise behind it is that others know more than us. → Read more |
| Social vs Market Norms | Social norms are jobs where payments may lead to decrease in the work output whereas market norms are regular jobs where market conditions of supply, demand, wages and incentives prevail. In many cases, social norms are cheaper but more effective. → Read more |
| Spacing Effect | It is the fact that learning is better done in more time, as compared to studying the same amount of the content in lesser time or in a single lesson. It is better to use more time to clear the concepts than to restrict the time just to complete the course → Read more |
| Specialization (Pin Factory) | The phenomenon where an individual is expected to master the art of producing a particular part of the particular good in order to increase the level of efficiency of the individual producer. Mastery can be achieved through this phenomenon and the concept is an application in production factories. → Read more |
| Sphere of Influence | The region where the international organizations can have an influence over the borders of the other country on the basis of political, cultural or military organizations. Soft power or lack of formal agreements is usually the case here. → Read more |
| Spring-loading | To hold in place or position something by means of a spring that gives the elastic force. I is the holding of things by a metal spring. → Read more |
| Stochastic Processes (Poisson, Markov, Random Walk) | Random variable generated through indexation of some set. The process changes over time randomly and can be set to be varying with time. → Read more |
| Strategic Acquisition vs Financial Acquisition vs Aquihire | The hiring of human resources of a company through acquisition is acquihire. The Acquisition of the target company for the financial assets is known as a financial acquisition. The acquisition of a company for the purpose of strategic advantage is the strategic acquisition. → Read more |
| Strategy vs Tactics | The plan for achieving the ultimate objective is the strategy. The means or ways through which the strategies can be achieved are known as tactics. Tactics can have a narrower view whereas a strategy is the broader perspective. → Read more |
| Straw Man | Popular form of argument where the real objection remains unanswered while a similar sounding but easier to answer argument is tackled or the opponent’s position is misrepresented. → Read more |
| Survivorship Bias | A kind of selection bias where the decision makers only focus on the successes and fail to consider the failures. This leads to a false conclusion where a product or service may receive undue credit while its harms or defects remain ignored and unattended.
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| Sustainable Competitive Advantage | The specific qualities, resources or the output of a company that can help in differentiating itself from the competitors for creating a unique position in the market. The long term sustenance of this competitive advantage is necessary for the completion of this concept. → Read more |
| Switching Costs | The cost associated with shifting from one choice to the other. Probably used in case of companies where the company itself can face it with respect to suppliers and the customers can face it while switching from one company to the other. → Read more |
| Technology Adoption Lifecycle | The life cycle of the acceptance of new technology and products, those are launched in the market. It consists of face different categories depending upon the behavior shown by the individuals they are placed in a particular category. These five stages include innovators, adapters, early majority, late majority, and laggards.
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| Tendency to Distort Due to Liking/Loving or Disliking/Hating | The behavior because of which individuals can like every aspect of the people they like, ignoring their weaknesses too. Similarly, because of this bias the people who are not liked by an individual have to face the discontentment from every aspect of how good it may be. → Read more |
| Tendency to Feel Envy & Jealousy | The behavior that is motivated by a certain aspect or thing that the others possess. The feeling of jealousy might not trigger negative behavior every time. Sometimes, the possessions of others can also lead to more efforts. → Read more |
| Tendency to Minimize Energy Output (Mental & Physical) | The loss of energy by organisms for unuseful purposes can lead to severe problems of survival.not having enough energy at the needed time can increase the chances of death or lagging behind in the race of survival. → Read more |
| Tendency to Overestimate Consistency of Behavior (Fundamental Attribution Error) | The inner traits are more dominant while analyzing the behavior of the others rather than the situational conditions of the time. Over perceiving the abilities of others is one of the general trend seen in this condition. → Read more |
| Tendency to Overgeneralize from Small Samples | Generalization is the nature of humans. Getting the generalization from a sample size is the focal point of this phenomenon. It can lead to problems in finding the real results. → Read more |
| Tendency to Want to Do Something (Fight/Flight, Intervention, Demonstration of Value, etc.) | The individual's behavior to keep on acting on something with a tendency of getting bored ever time. This "something" is apart from the routine task. → Read more |
| The Lindy Effect | The longer a technology, a non-perishable product or service lasts, the longer its lie expectancy is. To calculate the life of an item, both its age, as well as, its health should be estimated.
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| The Map is not the Territory | However well a map is drafted, it is still a reduction of the reality. This implies that it is dependent on the perception of how reality exists which is separate from our representation of it. For example, scribbling anything on a map will not affect the territory at all as it is a separate thing outside of the map.
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| The Red Queen Effect (Co-evolutionary Arms Race) | The number of customers that are replaced each year because a specific number of customers leave the services. If the same number of customers remain in the model. → Read more |
| The Third Story | Living at your parents' place. Usually, the level of fun there is lower when considering young adults and the life looks miserable, especially when comparison to others' is made.
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| Third Rail | A topic believed to be so emotionally charged that it is considered to be taboo to discuss it. In fact, mere mention of it is considered to be a political death wish, like the third rail which has such high-voltage that it electrocutes anyone who comes into contact.
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| Thought Experiment | Using a theory, or principle for thinking about its consequences and subsequent results. The thought process based on the depth of the principles theories etc. → Read more |
| Trade-offs | The situation in which one of the options has to be ignored for taking the opportunity in return of some gains. The swapping impact can also be considered in this situation. → Read more |
| Tragedy of the Commons | Emergent individual behaviour which sacrifices or remains indifferent to collective good in the long-term while pursuing selfish interests in the present. False advertising, spam emails, and global warming are some examples. → Read more |
| Trojan Horse | A parable from the Greek story, this mental model signifies a marketing technique where the marketer offers a Trojan, a freebie or some discount, to lure the customers to experience their product or service. Some examples are offering one chapter free of a book, or allowing apps with very limited features to run on customers’ mobiles who are then forced to purchase paid features.
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| Two-Front War | Fighting war on two different geographical locations exposes the army to such a situation. Separate troops and ammunition need to be planned for dealing with such a situation.
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| Two-sided market | A market with two different user groups who are interconnected and share their product or service offerings, helping them to pool resources. Examples are credit card companies that join customers and merchants, and the internet with its vast communication network.
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| Unforced Error | The mistake did by a player that can give an advantage to the other. Such a point is not gained because of the skill of the other player rather ones' own mistake is the cause of that point. → Read more |
| Unintended Consequences | The outcomes generated without planning. In most cases, these are the negative impact of a particular action that can be carried on without the real intention of the generator of the action. → Read more |
| Unknown unknowns | These are those concepts that we do not know that we are not aware of. Borrowed from the Johari window, this phrase talks about the facts that we do not have any inkling about and are not suspecting. This phrase was used to speculate about the presence of war weapons with Iraq about which the US had no inkling.
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| Utilitarianism | The best choice in the ethical dimension is the one, which can generate most of the benefits for most of the people. The overall scope of benefits generated through this concept must be high in value, → Read more |
| Utility (Marginal, Diminishing, Increasing) | The satisfaction gained for consuming each next unit is known as marginal utility. The addition of each subsequent unit reduces the satisfaction level, which is the diminishing marginal utility. The increasing marginal utility is the one in which the addition of each unit creates a higher level of satisfaction. → Read more |
| Veil of Ignorance | The issue of morality where the lack of enough information is given the blame for a certain action taken by the individual. It is blamed for the future problems that can be caused by the decision taken by the individual, not the individual himself.
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| – Omission/Removal/Avoidance of Harm | a technical term for the negative way of theology, which refuses to identify God with any human concept or knowledge, for God transcends all that can be known of him. Yet the term points to the possibility of union with God and the experience of his presence. → Read more |
| Virtual Team | Group of people who are geographically distant. Usually, these teams connect through the internet or other such media for communicating, sharing and coordinating. → Read more |
| Weekly 1-1s | The meeting arranged between the employer and the employee on one on one basis every week. Such a meeting can be conducted for the discussion of the progress of the individuals, setting goals or dealing with other problems being faced → Read more |
| Winner Take All Market | A product, which is slightly better than the others, can take more share of the market as compared to the others based on the creation of better competitive advantage. → Read more |
| Winning a Battle but Losing the War | It means that although you have won in a small fight or war but what matters is that you have lost a larger, more importantly the reason for which you fought. → Read more |
| Winning Hearts and Minds | The phenomenon through which the others can become your fan. It is particularly attained through good mannerism or effective soft skills. Other skills or capabilities are usually not included in it. → Read more |
| Zawinski’s Law | This states, "Every program attempts to expand until it can read mail." The law implies that all programs are now developed to evolve into toolkits and applications which are flexible and versatile. The programs that are able to satisfy the diverse needs of the customers are the ones that survive in the market as customers like to multitask.
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| Zero Sum | The end of which is dependent on no gain no loss strategy. The gain of one of the parties is equal to the loss of the other or other by the same amount as that of the gain. → Read more |
| Zero Tolerance | Act of punishing all unacceptable behaviour harshly. It is usually used against negative elements that have to be removed from the society, so the actions taken against them are expected to be foolproof without any sort of problems or resistance. → Read more |
