To quote Mr. Taleb, “For the central attribute is symmetry: the balancing of incentives and disincentives, people should also penalised if something for which they are responsible goes wrong and hurts others: he or she who wants a share of the benefits needs to also share some of the risks.”1 Or as I simply understand […]
Chapter 4 from Charles Duhigg’s book, The Power of Habit weaves a tale of Paul O’Neill, the venerable CEO of Alcoa aluminium in Pittsburgh, Pennsylvania. As well as some interesting observations about Olympic Swimmer, Michael Phelps. When introduced as the new CEO of Alcoa in 1987, O’Neil didn’t talk about about improving profits and reducing […]
In chapter 3 of The Power of Habit by Charles Duhigg, he begins the explanation of how to change a habit by presenting the simple subtitle statement, “Why Transformation Occurs.” Sports anecdotes are plentiful in this chapter. Notably by the real-life experience of Tony Dungy and his professional career coaching, most notably the Tampa Bay […]
In chapter 2 of The Power of Habit by Charles Duhigg, he titles the chapter with the amazing appellative “The Craving Brain.” Here we can read about how to Create New Habits. To illustrate an example of a new habit, Duhigg uses the example of marketing Pepsodent toothpaste, by Claude Hopkins. Hopkins, in his own […]
In chapter 1 of The Power of Habit by Charles Duhigg, he introduces the the “Habit Loop” (Item 1). This cycle is represented by 1) Cue, 2) Routine, 3) Reward… repeat. And, as Duhigg states on page-19, “Over time, this loop–cue, routing, reward; cue, routine, reward– becomes more and more automatic.” The Cue, or trigger […]