There’s an entire complex rooted on the idea that business plans are intelligently designed. Let’s probe that idea a bit. I enjoy Eric Beinhocker’s ideas about complexity economics. I’ve written of his ideas again and again and again. One of the most polarizing talks I’ve ever given was centred on his idea of a Library of Smith. It’s the idea that every single business plan that has ever been written, will ever be written, or can ever be written is contained in an imaginary library named after Adam Smith. Somewhere in this library is the elusive Google Business Plan from 1999. There’s also GE’s business plan for 1956. And another business plan with the letter ‘A’, repeated 99,000 times. I[…]

Often, there is a crisis that is visible to all, but nobody acts. Why does this pattern repeat? Spoiler: One of my favourite books is by Shigetaka Komori: Innovating Out of Crisis: How Fujifilm Survived (and Thrived) As Its Core Business Was Vanishing. In it, Komori describes how Fujifilm survived while Kodak failed. Another one of my favourite books is by Kathleen Thelen, in an epic entitled How Institutions Evolve: The Political Economy of Skills in Germany, Britain, the United States, and Japan. In it, Thelen describes how institutional lock-in occurs. In this post, I’ll combine themes from Komori and Thelen, with an insight about beliefs, in an effort to explain a part of why groups of people who are[…]