Success Factor: how to get what you want

Model of a Man

Can a man’s behavior be explained using model? After all, we have models in Physics that can explain the kind of world we are living in, and plenty of other models for various disciplines. We always want to understand, to explain and to predict. With understanding of an issue, we could develop a feeling for it. With an explanation of a phenomenon, we might derive a sense of certainty and rationalism. With our own prediction of what is going to happen in the future, and together with the attached emotions and logical thinkings, we act.

In “The Nature of Man” ( 1998 ) by Jensen and Meckling, I learnt about the Resourceful, Evaluative, Maximizing Model (REMM). Extracting from this article, REMM says that:

1. Every individual is an evaluator of everything. Evaluation brings about trade-offs and substitutions - the decision of choice and preference.
2. Every individual’s wants are boundless. One will always wants more of some things.
3. Every individual is a maximizer of his or her “opportunity set”. There is an assumed limit (time, money, resources etc) of what one can do, and every individual will work to maximize all that he or she can achieve.
4. Every individual is resourceful. This means that you are creative in getting what you want.

If you read the article, REMM works well in explaining difficult issues, together with other perspectives - Psychological, Sociological, Economic and Political. With REMM, we are in a better position to understand the events around us. It helps in explaining phenomenons. It explains the behavior of individuals and masses. With REMM, perhaps our prediction of what is going to happen in the future becomes more accurate.

I then ask myself: can this model help me improve my life?

If i know the model of the world through the learnings of the laws of physics, I can predict what will happen next when i kick the ball into the sky. Similarly, If i believe that there is a model that works on me, a prediction of what will become of me exists. What will happen to the ball depends on some factors, like how hard i kicked it, at what angle, which area of the ball did i kick, was it raining, was it windy, the weight of the ball, density of the air etc. Similarly, my destiny will depends on some factors too. If I am able to know more about the factors, I might be able to figure out my destiny with better precision. Solutions to the destiny of the ball can vary. If we want satisficing solution, we can make reasonable assumptions to some of the less sensitive or less volatile factors while we take into factors that more controllable. If we want highly precise solution, we can strive to obtain information from all relevant factors, and take all of them into consideration in the prediction. Similarly, there is an accuracy issue in all predicted destiny, and that if we are able to identify the more relevant factors, we could possibly make out how an individual will turn out in the future.

Laws of physics can be applied to explain why the ball moves in the way it moves after i kicked it, it can also be applied in a reverse fashion to work out how i should kick it in order to make it move in the way I want it to move. Similarly, a model that can explains human behaviors can also be used in a reverse fashion. We can use this model to work out the inputs needed for the controllable factors in order to shape the destiny that we wanted.

Law of Human Nature

By subscribing to REMM, I am inplicitly subcribing to a theory of human nature. At a fundamental level, there are universal laws governing the nature of human affairs. In another word, things don’t happen without a law that governs the nature of the event. For example: a ball will be projected into the air because of newton’s law (F=ma). The critical input here is the force, that gives it the acceleration. I may or may not be the one who exert the force, but this input is controllable. Someone else may exert the force, and in this case, I achieve my goal without exerting any effort. This input is also controllable if i am able to influence the action of the other kicker. Another example: I become a millionnaire only because i am a million dollars richer. Law of Human Nature may tell me that I have to receive the one million dollars from someone else and it usually comes about because of an exchange (the critical factor), just like Newton’s law states that acceleration comes about because of a force. In order to achieve this goal, I can work, gamble or start a business. The important take-homes are: 1) we can predict if one can achieve its goal, and 2) we can work towards success by knowing the law of nature, as well as the desired outcome, the critical factors, the various inputs (controllable ones and non-controllable ones).

Follow-up issues:

• Application: How can we predict if one will be successful in his or her quest to become a millionnaire?
• An approach to analyze an event or a goal - an understandable diagram to analyse the various controllable inputs and non-controllable inputs, critical factors and assumptions of Laws of Nature in the context of the specific event/goal.

Raytheon Lecture in Business Ethics: James H. Quigley (CEO of Deloitte Touche Tohmatsu)

“Trust is glue of life”, Mr. Quigley has said this early in his speech. I think this sentence summarizes the main idea that Mr. Quigley wants to convey. Without trust, everything else will fall apart.

Mr. Quigley proposed that sustained success in life and career is impossible if one is unethical. He went on to cite three proof points to support his argument. The idea of impossibility does not come intuitively to my mind, as I can occasionally see or hear of someone who is able to escape punishment with unethical acts. But the three proof points are strong evidences, and they are:

<!–[if !supportLists]–>1.       <!–[endif]–>Correlation of FDI and Corruption Index

<!–[if !supportLists]–>2.       <!–[endif]–>Near collapse of Banking in England

<!–[if !supportLists]–>3.       <!–[endif]–>Value destruction of Enron

Mr. Quigley advised individuals to exhibit trustworthiness. To do so, one needs to start with integrity and character. Only then will people want to work with me, and important projects assigned to me. This in turn increases my value. I totally agree that trust is the most important consideration when we pass on responsibilities and expectation. A candidate will not even be considered if the candidate is not trustworthy. The speaker mentioned a quote from Warren Buffett, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”

As technology advances, computer power has become so strong that long lasting memory can be collected and stored in most aspects of our lives. This makes life more transparent and so the chance for making mistakes in building trust is reduced.  This reminded me of the article I have read online, “Google + Facebook + alcohol = trouble”. In the past, a professional career starts only when one steps out of school and into the workplace. But now, employers can assess applicants with the use of technology.

Another interesting point brought up is the suggestion that one who has good work life balance will more likely be an ethical person. I guess there is no direct relationship between the two of them, just that a person who has good work life balance will tend to have fewer tendencies to commit unethical acts. In any case, this observation will bring us to look more carefully at firms who have less emphasis on employees’ work life balance.

Last but not least, I am really impressed by Deloitte Touche Tohmatsu’s Client Acceptance process. It is rather counter-intuitive for a firm to reject a big contract based merely on an assessment of trust and ethic. A firm’s ultimate goal is to make money and earn a profit, and this is the fundamental principle that drives an economy. If we think in the long run, instead of the short term loss of revenue, that the trustworthiness and integrity built up through such act of commitment will actually bring more value to its clients, the goal of earning a profit still holds after all.

Essence of Living

This blog sets out to explore the fundamental principles to live a life to its fullest.

I believe there is a set of underlying rules that govern human lives. Understanding and playing the game of life according to the rules at all times will lead us to our deeper potentials and eternal success.

I set out to explore and discover the keys, learn how to use them, and experiment and practice in my life.