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Technology

Herbert Simon: “Economic Man” and “Bounded Rationality”

Posted: 05/05/2017 - 19:57

Herbert Simon explored the intersection of philosophy, science, politics, economics and a range of other fields and called into question the traditional idea that “economic man” acts rationally. Simon, who was a long-time professor at Carnegie Mellon University, received the Nobel Prize in Economics in 1978. Simon’s diverse research ranged across the fields of cognitive psychology, cognitive science, computer science, economics, management, philosophy of science, sociology, and political science; he helped lay the foundation for behavioral economists around the world. He died in 2001.

TOP TEN: Opportunities and Legal Risks Considerations When Embracing New Technologies

Posted: 05/05/2017 - 19:54

The opportunities

For organisations that are looking to strengthen their position in established industry sectors, adopting new technologies may provide the opportunity to: 

1. Demonstrate innovative thinking to customers 
Proving to customers that your organisation is committed to continually improving the manner in which it conducts its business by adopting new technologies should lead to better customer awareness of your business and a stronger reputation for customer service. 

Will apps or chatbots determine the supply chain's future?

Posted: 04/25/2017 - 00:58

Over in Silicon Valley, the latest battle for technological dominance is on. On the one hand, you have apps. Apps have been with us for nearly ten years, but 2016 marked the first year that mobile internet use overtook desktop internet use. This trend, which shows no sign of slowing down, puts apps on the front page of the internet — so to speak.

Is procurement the key to unlocking innovation within organisations?

Posted: 04/22/2017 - 02:10

Depending on your business sector, the department you work in or your job function, innovation means different things to different people. Procurement professionals may view innovation as a long-term strategy, given the tremendous potential for delivering efficiencies and cost savings over time, while other business functions may see it differently. Their interest might be focused on enhancing performance and processes, delivering slicker workflows or increased speed to market.

Cognitive solutions: beware the black box and big promise

Posted: 04/13/2017 - 22:42

In a maturing market, buyers are becoming increasingly aware that the umbrella term “intelligent automation” comprises a broad spectrum of functionality, ranging from teachable bots that execute repeatable and scripted tasks, to more advanced cognitive tools that apply pattern recognition and language processing capabilities to analyse data, make decisions and learn from experience.

Software-Defined Networking (SDN): the future of networking?

Posted: 04/13/2017 - 00:20

Over the past two decades, networking has been severely limited: it simply could not keep up with new demands from businesses in an increasingly digital world. However, that is all about to change thanks to the creation of software-defined networking, or SDN. Part of an ongoing wave of “virtualisation” in the IT industry, SDN allows people (particularly businesses with large IT systems) to control network behaviour through a handy piece of software, instead of having to go into the network infrastructure and alter things manually.

Life Lessons: Rick Sturge

Posted: 04/11/2017 - 03:51

Rick Sturge is EVP Business Development at Firstsource Solutions, with over two decades' experience in outsourcing and business transformation. We turned to Rick for the latest in our Life Lessons series - and received lessons aplenty...


What has been the single most significant development to impact your profession or area of business during your career, and why?

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