A Quote by Chanda Kochhar
Every business has to re-think their own business model and say does it meet this DSM test and do their products and services meet the test of being digital, social, and mobile? I think the banks are doing the same.
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Life is actually a series of tests. It's a social test, a happiness test, a business success test. You'd like to get A's in all of them.
In the world of digital currencies, the social network around open source projects has become a critical test bed for ideas, products, services, and early users.
The same products, services or technologies can fail or succeed depending on the business model you choose. Exploring the possibilities is critical to finding a successful business model. Settling on first ideas risks the possibility of missing potential that can only be discovered by prototyping and testing different alternatives.
Online business models are still evolving. New and different products and services pop up every day. This gives rise to supporting products and services. A business can make substantial profit by helping others execute their plans for making money.
Think about when a digital business marries up with what I'll call 'digital intelligence.' It is the dawn of a new era about being a 'cognitive' business. When every product, every service, how you run your company can actually have a piece that learns and thinks as part of it, you will be a cognitive business.
The great virtue of free enterprise is that it forces existing businesses to meet the test of the market continuously, to produce products that meet consumer demands at lowest cost, or else be driven from the market. It is a profit-and-loss system. Naturally, existing businesses generally prefer to keep out competitors in other ways. That is why the business community, despite its rhetoric, has so often been a major enemy of truly free enterprise.
Not since the digital revolution in the early '90s has technology placed such a comprehensive burden on business, employees and individuals to reinvent their business plans, services and products, and themselves to keep pace with the changing marketplace.
Then there was the challenge to keep doing better and better, to fly the best test flight that anybody had ever flown. That led to my being recognized as one of the more experienced test pilots, and that led to the astronaut business.
80% of all products and services that will be on the market in five years do not exist today. So therefore, always be innovative, always be creative, always think, 'What new products or services could I create, could I represent, could I joint venture?" Sometimes you can find someone else that has a fabulous product or service that you can use your existing business or resources to sell and you can double your income or sales in your business by selling somebody else's product to the same customers that are buying yours.
I don't like the idea of a book being a test or being used for a test. The way - in my opinion - to make good readers is to let kids choose their own books and not test them.
We test everything on a one- and a three-year cycle. And you want to stress-test a model, and the three-year test usually does that because you have a growth and value bias. You have different interest rate environments.
All subjects are the same. I memorize notes for a test, spew it, ace it, then forget it. What makes this scary for the future of our country is that I'm in the tip-top percentile on every standardized test. I'm a model student with a very crappy attitude about learning.
I think that if the president Trump would have fired Comey when he first came in, he would not have to be in a position now where he is trying to make up a story about why. It does not meet the smell test.
The Lean Startup process builds new ventures more efficiently. It has three parts: a business model canvas to frame hypotheses, customer development to get out of the building to test those hypotheses, and agile engineering to build minimum viable products.
Each business is a victim of Digital Darwinism, the evolution of consumer behavior when society and technology evolve faster than the ability to exploit it. Digital Darwinism does not discriminate. Every business is threatened.
There is no reason to accept the doctrines crafted to sustain power and privilege, or to believe that we are constrained by mysterious and unknown social laws. These are simply decisions made within institutions that are subject to human will and that must face the test of legitimacy. And if they do not meet the test, they can be replaced by other institutions that are more free and more just, as has happened often in the past.
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