GDP – How to Define an Entire Country With Just One Number

Your business operates within a larger market that is described and measured using the economic indicator “GDP”, or Gross Domestic Product. The number represents the value of all products and services produced within a country’s borders. During PriSim’s simulation exercises this number is used to influence a more or less favorable business environment for the…

A Playbook for Profits (but it might be painful)

Profits can sometimes be as elusive as a unicorn. But that elusiveness can create opportunities – even if they’re in the painful form of cost-cutting, stringent budgeting, or a merger. And woe to you if you don’t see the opportunities; there are unicorn-hunters in the world of business ready to do what you can’t or…

Losing Sight of the Founder’s Vision

It almost seems inevitable: that any nimble, fast-growing company will eventually slow down and calcify. Probably due to a business model that has become rusty and outdated. But maybe not always. Consultants Chris Zook and James Allen argue that the most common reasons for “stall out” are actually increasing complexity, bureaucracy, and internal dysfunction –…

Dreamy Innovation is Good; Actual Profit is Even Better

Some companies generate big, creative, transformational ideas, but the ideas stall and never seem to get off the ground. While other companies turn more of their crazy ideas into actual products – that generate revenue. Google, Apple, and Amazon are examples: we know Google and Apple are innovative, but Amazon seems to bring more big…

The Paradox of Big Data Analytics (after that election…)

After the 2012 election we posted about the power of big data analytics and how it was used in the Obama campaign. After the results of the November 2016 elections, the big data story has become curiouser and curiouser. And many are questioning how data mining and predictive analytics should be used after getting it…

Marketing strategy lessons from the new “Can you afford me now?” guy.

Bono once said that “Music can change the world…” But the “Can you hear me now?” guy from Verizon may have trouble streaming that music to his phone. Because he just changed to Sprint, where he is cheerfully announcing that they have worse coverage than Verizon – but at a lower price.  Read more here.…

Corporate Culture and Other Immeasurable Things.

In response to the recent Wells Fargo fiasco, Lou Gerstner, former CEO of IBM, says that setting corporate values is not enough to guide good behavior and decision-making. You need to also measure the behavior you’re looking for. People don’t do what you expect (listen to the customer, respect diversity, develop employees), but what you…

“Sandpaper” Leadership – The Importance of Grit in Business

Accomplishing anything worthwhile in life requires determination and tenacity. But is there another level of “courageous persistence” that can offset a lack of pure talent? The characteristics of grit and resilience have been getting a lot of attention in business and in education. Recently, some of our international clients have made resilience a focus of…

The Dummy’s Guide to Risk-Based Capital

Too Big To Fail, Risk-Based Capital, SIFI, ORSA, Solvency Ratio. These terms and acronyms really get your blood moving, don’t they? Or maybe not… At PriSim, we work closely with several leading insurance and financial companies and are thus actually interested in financial risk. We’ve put together a brief description below of 5 commonly used…

It’s The End of Accounting As We Know It… (and we feel fine)

If you never liked your accounting classes, you’re in luck. According to a new book, summarized in an article in the Wall Street Journal, it’s The End of Accounting as we know it. But the end is not actually near – it should just look different. The authors argue that current accounting practices are backward-looking,…