Comments on: Reward success and failure. Punish only inaction. https://berkonomics.com/?p=4733&utm_source=rss&utm_medium=rss&utm_campaign=reward-success-and-failure-punish-only-inaction-2 Dave Berkus' business insights Tue, 12 Oct 2021 19:26:20 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Harley Kaufman https://berkonomics.com/?p=4733&cpage=1#comment-152563 Tue, 12 Oct 2021 19:26:20 +0000 https://berkonomics.com/?p=4733#comment-152563 Love the new graphics and……you look great in the hat.

]]> By: Michael O'Daniel https://berkonomics.com/?p=4733&cpage=1#comment-152559 Tue, 12 Oct 2021 17:36:20 +0000 https://berkonomics.com/?p=4733#comment-152559 Whether it was an intentional pun or not, “pulled the plug on the project” [Edison’s attempts at a light bulb] is priceless.

]]> By: Arthur Lipper https://berkonomics.com/?p=4733&cpage=1#comment-152558 Tue, 12 Oct 2021 16:44:51 +0000 https://berkonomics.com/?p=4733#comment-152558 The goal of management should be the correct assessment of the relative magnitude of the possible result projected for new ideas in the structuring rewards and penalties.

If there is little or no risk to the enterprise, other than project cost, fine. However, if the risk out balances the reward and possibly jeopardizes the business a separation of responsible entries should be arranged. Only projects having far greater possible benefit to possible risk should be undertaken by an established business.

Betting the shop is fine if the shop has little present value. Encouraging new projects must include magnitude of risk assessment. In new territory exploration the function of scouts differ from that of guides or leaders.

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