woodburner wrote:
Thare are also companies run by people who do understand the technical side, but as managers they are failures, consequently so are their companies.
Jolly good question! But trust - as in this case being able to trust someone's CV and references, is crucial to Business and everybody tends to forget that!
Many people are promoted in from operational to management level because they have proven to be a serious danger to the day to day working of the company. Sadly this gives them wider scope to inflict damage on a broader scale. Many companies are carried mainly by the efforts of the lower echelons despite the efforts of senior staff. We are seeing more and more disasters following on from the tireless efforts of the most senior staff.
I remember one incident when a dedicated and competent supervisor finally got so exasperated by the efforts of his line manager to mess things up that he said to him "If you think you are so fecking clever, and you think it is so easy, why don't you try and do it yourself!"
It amazes me that so many dysfunctional organisations keep going for so long. I guess inertia management is a bit like an aeroplane running out of fuel. Things carry on ok for a while but eventually........
Overconfidence, not just expert overconfidence but general overconfidence,
is one of the most common illusions we experience. Stan Robinson
In most companies people are promoted to the level of their incompetence. Once that level was found if they were subsequently demoted to their previous position, to their level of competence, keeping the extra pay, the company would do much better and the employee would be much happier being recognised for their competence.
biffvernon wrote: It would have been better for the system to have crashed ( )
The full extent of a complete crash could not be known and is fortunately still unknown. No responsible public official worth his salt would ever take the risk of plunging all of us into a pit with no known bottom.
On the other hand if they had been doing their job properly right along they would never had to make such dangerous decisions.
I'd take the royalties in gold and bury them in the back forty.
In the UK the Government nationalised and part nationalised a number of banks to prevent their customers from suffering. This is wrongly described as "bailing out the banks".
johnhemming2 wrote:In the UK the Government nationalised and part nationalised a number of banks to prevent their customers from suffering. This is wrongly described as "bailing out the banks".
Perhaps if the government had let the banks go bust then bought the retail part of the banks for the administrators, letting the WE ARE DODGY, sorry "investment", part go to where ever, we might be in a better position as owners. We might not now be paying £billions into the US legal system for the fraud, sorry, mistakes, of the former managers.
They certainly bailed out the investment bankers who caused most of the problems.
kenneal - lagger wrote:In most companies people are promoted to the level of their incompetence. Once that level was found if they were subsequently demoted to their previous position, to their level of competence, keeping the extra pay, the company would do much better and the employee would be much happier being recognised for their competence.
Alas and alack such an eminently sensible idea is unlikely ever to be taken up. It is far too sensible and provides little scope for drama. The fact is that people are not only promoted to the level of their incompetence but far beyond it as well!
This couild be regarded as another form of overshoot.
Overconfidence, not just expert overconfidence but general overconfidence,
is one of the most common illusions we experience. Stan Robinson
Potemkin Villager wrote:
Alas and alack such an eminently sensible idea is unlikely ever to be taken up. It is far too sensible and provides little scope for drama. The fact is that people are not only promoted to the level of their incompetence but far beyond it as well!
Having worked in the financial sector this is all too common an occurrence.
Meanwhile, back at the ranch, things are still not sorted at TSB (Totally Screwed Bank)
A common mistake that people make when trying to design something completely foolproof is to underestimate the ingenuity of complete fools - Douglas Adams.
There seems to a widespread outage affecting Visa card payments.
I noticed this when trying to use my Visa card on fleabay, at about 16-00 today. It now looks widespread. So if the whole system comes crashing down, I hope that it was not my purchase of some AA lithium batteries that did it !
A common mistake that people make when trying to design something completely foolproof is to underestimate the ingenuity of complete fools - Douglas Adams.
fuzzy wrote:Thats why the city of london corporation has it's own police force.
And that is probably why there have been no prosecutions of *ankers for fraud over all the recent banking scandals even though UK banks have received heavy fines in the US. The Prostitute State again!
Funny how every ordinary Joe/Jo is prosecuted for any minor fraud of the Social Security system but no one is prosecuted for major fraud in the financial system unless of course that fraud is against the employee's own bank.
)
