business process outsourcing

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The Future of Technology by Tom Standage


air freight, barriers to entry, business process, business process outsourcing, call centre, Clayton Christensen, computer vision, connected car, corporate governance, creative destruction, disintermediation, distributed generation, double helix, experimental economics, full employment, hydrogen economy, industrial robot, informal economy, information asymmetry, interchangeable parts, job satisfaction, labour market flexibility, Marc Andreessen, market design, Menlo Park, millennium bug, moral hazard, natural language processing, Network effects, new economy, Nicholas Carr, optical character recognition, railway mania, rent-seeking, RFID, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, six sigma, Skype, smart grid, software as a service, spectrum auction, speech recognition, stem cell, Steve Ballmer, technology bubble, telemarketer, transcontinental railway, Y2K

Some companies have outsourced the work of their it departments, from managing the physical hardware to maintaining and developing business software and managing corporate computer networks. Up to half the world’s biggest companies have outsourced some it work, reckons ibm. As well as outsourcing their business systems, some companies are doing the same with the workers who operate them. This is called business-process outsourcing (bpo). First Data Corporation (fdc), for instance, will handle some or all of the administrative work involved in running a credit-card business, from dealing with applications to authorising credit limits, processing transactions, issuing cards and providing customer service. Few bank customers will have heard of the company, yet fdc employs nearly 30,000 people, who administer 417m creditcard accounts for 1,400 card issuers.

But others are lining up ost americans or britons would be hard pressed to name their national call-centre champions or top providers of it services. In India they are like rock stars, endlessly featured in the media. All of them claim to be hiring by the thousands every month. New business models come and go. Hero bosses such as Raman Roy, chief executive of Wipro Spectramind and “father of Indian business-process outsourcing” (an industry all of six years old), have developed the same preposterous swagger adopted by erstwhile leaders of America’s dotcom boom. Is India heading for a fall, too? India’s it industry is growing at a vertiginous rate. A dozen years ago, the entire country boasted just four or five ibm mainframe computers, says Lakshmi Narayanan, the boss of Cognizant, a big Indian it-service company.

Kearney 163, 189 AAAI see American Association of Artificial Intelligence ABB 287, 289 ABI Research 295, 296 Accenture 39, 118–20, 126, 129, 131–2, 134–5, 138, 145–6 ActivCard 69 Activision 186–7 Adobe 39 Advanced Cell Technology 268 Africa 251–2 agricultural biotechnology ix, 238–9, 251–7, 270–1 see also genetic modifications AI see artificial intelligence AIBO 332, 334, 338 AIDS 247, 250 airlines 37–8, 42 AirPort 211 airport approach, security issues 68–9 Airvana 140–1 Alahuhta, Matti 164 Albert 339–40 “always on” IT prospects 94–5, 203 10, 37, 91 AMD 85, 313 American Association of Artificial Intelligence (AAAI) 337–8 American Express 22, 27, 126 American football 194–7 American Superconductor 288 amino acids 241–8, 253–5 analogues see late adopters Anderson, Roger 287 Anderson, Ross 61, 73–4, 76 Andreessen, Marc 8, 15 animal husbandry 256–7 anti-piracy systems 34–5 anti-virus software 50–1, 60, 67–8 antibodies 249–50, 256–7 AOL 93 Apache 10 Apple 95, 97, 99–101, 165–6, 172, 192, 198, 202–3, 204, 207–8, 211, 219–29 Applera 242–3 application service providers (ASPs) 19–20, 91–2, 109 Applied Molecular Evolution 246, 258 architects, green buildings 299–304 Archos AV 206 Argentina 319 Arima 156 Armand, Michel 281, 283 ARPU see average revenue per user Arthur, Brian 39 artificial intelligence (AI) x, 89, 102, 233, 336–40 artists 83–4 ASCII 96 Asian cultures 93, 142, 176 see also individual countries ASPs see application service providers AstraZeneca 312 AT&T 108, 110 ATMs see automated teller machines atoms, nanotechnology ix–x, 233, 263–4, 306–29 Atos Origin 123, 130, 134, 143 audits 44, 46 automated teller machines (ATMs) 61 autonomic computing 88–92, 335, 339 Avax office building 304 average revenue per user (ARPU), mobile phones 157, 162–3 B B2B see business-to-business computing Baan 30 Babic, Vasa 159 back-up systems 43–4 Bacon, Sir Francis 236, 271 Ballard, Geoffrey 290 Balliet, Marvin 28 Ballmer, Steve 98 Bamford, Peter 164–5, 167 banks 37, 42, 48, 61, 72, 80, 87, 115, 116–18, 121, 126, 146 Bardhan, Ashok 138 barriers to entry, mobile phones 155–6 Battat, Randy 140–1 batteries 233, 277–9, 280–4 Baumholtz, Sara 103, 105–6 Bayesian decision-making 338 BEA 21–2, 87 Bell 108 Bell, Genevieve 93 Bell, Gordon 13 Bell Labs 210 341 THE FUTURE OF TECHNOLOGY Benioff, Marc 19, 22, 84, 92 Benjamin, Dan 295 BenQ 156–7 Berliner, Emile 82 Bernstein, Phillip 300, 304 Berquist, Tom 37 Bhattacharya, Arindam 131 Bhide, Amar 128 Big Brother 179–83 biological weapons 265–6 biometric systems 60, 64–5, 71, 74 biopolymers 259–64 biotechnology ix–x, 233, 236–71 agricultural biotechnology ix, 238–9, 251–7, 270–1 categorisations 238–9, 241 cloning 239, 256, 267–71, 329 clusters 240 concepts ix–x, 233, 236–71, 327 embryonic stem cells 268–9 enzymes 258–64 fuels ix–x, 233, 259–64, 271, 274–9, 314–15 funding problems 237–8 future prospects 236–48, 267–71 genomics 239, 241–8, 262–4, 308 GM ix–x, 233, 236–40, 251–5, 267–71, 318–20 historical background 241 industrial biotechnology 258–64 medical applications ix–x, 145, 233, 236–40, 247, 249–50, 256–7, 267–71 pharmaceutical companies 239–40, 241–50, 312 plastics 238–9, 259–64 problems 236–40 revenue streams 237–8, 241–2 RNA molecules 241–2, 249–50, 265 therapeutic antibodies 249–50, 256–7 virtual tissue 248 warfare 265–6 x-ray crystallography 247–8 BlackBerry e-mail device 152–3, 156, 171 Blade Runner (movie) 269 Bloomberg, Jason 91 Bluetooth wireless links 171–2, 173, 214–15, 218 BMG 222–3, 227, 229 BMW 159, 176 Boeing 69 Bonneville Power Administration (BPA) 287 boom-and-bust cycles, innovations vii–viii, 4–39, 82–3, 107, 134 Bosch 142 Boston Consulting Group 120, 131, 140, 142, 160, 203, 226 Bowie, David 19 Brazil 114, 309, 319 BREEAM standard 300–1 342 Breese, Jack 100, 102 Brenner, Sydney 242, 252–3 Brillian 112–14 Brin, David 179, 183 Brin, Sergey 9 British Airways 126–7 broadband ix, 34–5, 52–3, 93, 96–7, 103, 168–9, 203, 207, 209–13 Broockman, Eric 216 Brooke, Lindsay 297 Brown, Tim 101, 106 Buddhism 19 budgets 7, 9, 14, 28–31, 45–6, 71, 186 bugs, software 20–1, 54–6 built-in obsolescence 8–9, 29 Bull, Michael 220 Bush, George W. 35, 144, 268–9, 274–6 Business Engine 28, 30 business models ix, 10, 19–20, 36–40, 109 business plans 10 business units 28–31 business-process outsourcing (BPO) 118 business-to-business computing (B2B) 90 Byrnes, Chris 44, 46 byte’s-eye view, complexity problems 85–7 C Calderone, Tom 224 call centres 79, 121, 125–9, 136, 144 Cambridge University 61, 73, 76 camcorders 214 camera phones 156, 170–2, 179–83, 203 see also mobile phones Cameron, Bobby 28 Canada 152, 181, 290 cancer cells 249–50, 317, 329 canola 252–3 Canon 108 capitalism 28 Capossela, Chris 79, 94 car industry 5, 38–9, 82–4, 113, 114, 116, 118–19, 120–1, 134, 146, 158–9, 175–6, 284, 290–8 diesel cars 296–7, 314–15 electric cars 284, 290, 291–8 hybrid cars 233, 284, 291–8 mobile phones 158–9, 175–6 particulate filters 296–7 performance issues 291–8 Toyota hybrid cars 291–5, 297 CARB 296 carbon nanotubes 311–12, 322, 325, 328 carbon-dioxide emissions 275, 296, 300 Cargill 253–4, 259–60 Carnegie Mellon 44–5 Carr, David 194 Carr, Nicholas vii–viii, 83 Cato Institute 34 INDEX CBS 36, 225 CDMA2000-1XEV-DO technology 165, 168–9 CDs 207, 212–13, 223–8, 315 celebrity customers, mobile phones 173–4 Celera 241–2, 262 Cell chips 198–200 cell phones 172 see also mobile phones Celltech 243 Centrino 11 Cenzic 54, 68 CFOs see chief financial officers Chand, Rajeev 217–18 Chapter 11 bankruptcies 37 Charles, Prince of Wales 317 Charney, Scott 43, 47, 72–3 Chase, Stuart 136, 139 Chasm Group 12, 36 Check Point Software 52–3, 86 chemistry 239, 310–11 Chi Mei 156–7 chief financial officers (CFOs) 21, 28–31, 73–4 Chile 319 China 38–9, 109, 112–15, 120–1, 130, 136, 140, 142, 145, 154, 156, 160, 171, 269, 276, 301, 309, 319–20 Christensen, Clayton 9, 107–8 Chuang, Alfred 87 CIA 18, 33, 50, 56 Cisco 106, 110, 211 Citibank 30, 121, 126 civil liberties, security issues 74 civilisation processes 84 clamshell design, mobile phones 170–1 Clarke, Richard 43, 75–6 cleaner energy ix–x, 233, 274–6 climate change ix clocks 82 clones, IBM PCs 9 cloning, biotechnology 239, 256, 267–71, 329 Clyde, Rob 67 CMOS chips 313–14 co-branding trends, mobile phones 161 Coburn, Pip 80–1, 89 Cockayne, Bill 66 Code Red virus 45, 49, 50, 54–5 Cognizant 125, 131 Cohen, Ted 228 cold technologies 31, 80 Cole, Andrew 163–5, 167 Comber, Mike 222 commoditisation issues, concepts 6–7, 8–16, 25, 132–5, 159, 203 Compal 156 Company 51 45–6, 54 Compaq 38 competitive advantages viii, 30 complexity problems ASPs 91–2, 109 byte’s-eye view 85–7 concepts viii, 14–16, 78–81, 82–110, 117–22 consumer needs 93–7 costs 79 creative destruction 107–10, 200, 326 desktops 100–2 digital homes 95–7 disappearance 82–4 “featuritis” 83–4 filtering needs 101–2, 339 front-end simplicity needs 84, 88, 99–102 historical background 80–4 infrastructural considerations 85–7, 117–22 IT viii, 14–16, 78–81, 82–110, 117–22 mergers 87 metaphors 100–2 “mom” tests 98 outsourcing 118–22 simplicity needs 78–81, 84, 87, 88–92, 98–110 web services 88–92 wireless technology 95–7, 109–10 “ws splat” 90–1 computer chips 4–12, 32–4, 85–7, 93, 95, 109, 119, 158, 161, 198–200, 202–3, 216, 313–14, 325–7 see also processing power Cell chips 198–200 costs 10, 14 heat generation 11–12 nanotechnology 313–14, 325–7 types 199–200, 202–3, 313–14 UWB chips 216 Computer Security Institute (CSI) 50–2, 62 Comviq 109 Condé Nast Building 301 consumer electronics see also customers; digital homes; gaming; mobile phones Cell chips 198–200 concepts viii–ix, 94–7, 99–102, 119, 147, 198–200, 203, 338–9 hard disks 204–8 control systems see also security... cyber-terrorism threats 75–6 Convergys 121, 126–9 copyright ix, 34 Corn, Joe 82 Cornice 208 Corporate Watch 318 costs viii, 4–7, 10, 14–15, 29–31, 70–4, 79, 186, 275–6, 283, 295–8, 311, 332–6 calculations 30–1 complexity problems 79 computer chips 10, 14 343 THE FUTURE OF TECHNOLOGY downward trends viii, 4–7, 14 energy alternatives 275–6 flat-panel displays 230–1 gaming budgets 186 hybrid cars 295–8 networks 14–15 outsourcing 112–24, 131–5, 140–3 performance links 29–30 robots 332–6 security issues 45–6, 50–1, 62, 70–4 storage costs 14–15 viruses 50–1 VOIP 104–6, 167 cotton 252–5 crashes, innovations vii, 4, 5–8, 39, 107, 134 creative destruction 107–10, 200, 326 credit cards 114, 117–18, 129, 338 Crick, Francis 236, 247, 271 crime fraud 52, 61–3, 181–3 mobile phones 180–3 CRM see customer relationship management crops, GM 251–5, 270–1 Crosbie, Michael 302 Cruise, Tom 64–5 Crystal Palace 299 CSI see Computer Security Institute CSM Worldwide 291–2, 297 CTC 288 cultural issues outsourcing 122, 142 technology 93–4 customer relationship management (CRM) 19, 47 customers see also consumer electronics complexity issues 93–7 cultural issues 93–4, 142 powers 26–7, 28–31, 36–40, 83–4 satisfaction 22, 24, 28–31 simplicity needs 78–81, 84, 87, 88–92, 98–110 vendors 94–7 cutting-edge economics 17 Cypress Semiconductor 32 Czech Republic 114, 120, 319 Czerwinski, Mary 100 D D-VARS 288 DaimlerChrysler 292, 295–6 Danger 152 data centres 17, 21, 84–92, 117–22 data services, mobile phones 164–5, 170–1 databases 17–18, 20–1, 35, 36–7, 56, 69, 101–2 Davidson, Mary Ann 56 Davies, Geoff 53, 72–4 de Felipe, Charles 87 344 de Vries, Pierre 55 Dean, David 160 deCODE 243–4 Dedo, Doug 67 Delacourt, Francis 143 Dell 8, 9, 85, 88, 109, 114–15, 131, 150, 202–3, 230 DeLong, Brad 36 Demos 318 Denman, Ken 212 Denmark 289 deployment period, revolutionary ideas 6 Dertouzos, Michael 78 desktops 100–2 Deutsche Bank 121, 126, 161, 164 diesel cars 296–7, 314–15 Diffie, Whitfield 43, 56 digital cameras 78, 95, 179–83, 203, 204 digital homes ix, 94–7, 147, 200, 202–32 see also flat-panel displays; TV; video...; wireless technology competitors 202–3 concepts 147, 200, 202–32 future prospects 202–3 hard disks 204–8, 219–20 iPod music-players ix, 99–100, 102, 172, 192, 203, 204, 207–8, 219–29 media hubs 202–3 music 204, 207–8, 219–29 PCs 202–3 UWB 96–7, 214–19 Wi-Fi 34–5, 66–7, 93, 95–7, 153, 203, 209–18 digital immigrants 81, 93, 109 digital natives 81, 93 digital video recorders (DVRs) 205–6 direct-sequence ultrawideband (DS-UWB) 215–17 disaster-recovery systems 43–4 Dish Network 205 Disney 168 disruptive innovations, concepts 107–10, 200, 326 Diversa 253–4 DNA 236–41, 243–4, 247, 250, 262, 265, 312, 328 Dobbs, Lou 144 Dobkin, Arkadiy 130, 142 Dolly-the-sheep clone 256, 268 Donaldson, Ken 317 Dorel Industries 140 dotcom boom vii, 19, 37–9, 66, 79–81, 90, 92, 162, 309, 322, 339 double-clicking dangers, viruses 59–60 Dow 259–60, 263 DreamWorks 186 Drexler, Eric 316 DS, Nintendo 191–3 DS-UWB see direct-sequence ultrawideband INDEX Dun & Bradstreet 126 DuPont 259–60 DVD technology 203, 214, 224, 315 DVRs see digital video recorders E E*Trade 37 e-commerce 14, 71, 113 see also internet e-homes see digital homes e-mail viii, 42–57, 59–60, 99, 101, 104–6, 150, 156–7, 180 see also internet historical background 106 eBay 37, 91 economics, cutting-edge economics 17 The Economist x, 7, 66 Edison, Thomas Alva 82–3, 289 eDonkey 229 EDS 19–20, 60, 88, 120, 126, 134 Eigler, Don 310 electric cars 284, 290, 291–8 Electric Power Research Institute (EPRI) 285–9, 290, 295–6 electricity fuel cells 274–9, 280–1, 289–90, 297–8, 301, 315, 325 green buildings 233, 299–304 hybrid cars 233, 284, 291–8 hydrogen 233, 262–4, 271, 274–9, 289–90, 297–8 lithium-ion batteries 233, 280–4 micropower concepts 289 nanotechnology 314–15 power grids 233, 285–90 storage problems 275–6, 289–90 electrification age ix, 5, 19, 23, 39, 82, 83, 84, 134 Electronic Arts 187, 190 electronic-manufacturing services (EMS), mobile phones 155–6, 159–60 electrons 307 Eli Lilly 44 Ellison, Larry 5, 21–2, 38–40 embryonic stem cells 268–9 EMI 222–9 Emotion Engine chips 199–200 Empedocles, Stephen 321 employees future job prospects 136–9, 144–6 office boundaries 80–1, 94 outsourcing viii, 112–46 resistance problems 31 security threats 58–63, 69 VOIP 104–6 EMS see electronic-manufacturing services encryption 53–4, 86–7 energy internet 285–90 energy technology ix–x, 233, 274–304, 314–15 alternative production-methods 275–6, 286, 289 concepts 274–304, 314–15 demand forecasts 277–9 fuel cells 233, 262–4, 271, 274–9, 280–1, 289–90, 297–8, 301, 315, 325 green buildings 233, 299–304 hybrid cars 233, 284, 291–8 hydrogen 233, 262–4, 271, 274–9, 289–90, 297–8 lithium-ion batteries 233, 280–4 nanotechnology 314–15 power grids 233, 285–90 production costs 275–6 renewable energy 275–6, 286, 289, 300 Engelberger, Joe 334 enterprise consumers 94–7 enterprise software 20, 35 Environmental Defence 319 enzymes, biotechnology 258–64 Epicyte 256–7 EPRI see Electric Power Research Institute Eralp, Osman 225 Ericsson 155–6, 158, 171 ETC 317–18 Ethernet 210–11 Europe see also individual countries fuel cells 274 mobile phones 163–9, 174 outsourcing 140–6 EV-DO see CDMA...

pages: 370 words: 112,602

Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty by Abhijit Banerjee, Esther Duflo


Albert Einstein, Andrei Shleifer, business process, business process outsourcing, call centre, Cass Sunstein, charter city, clean water, collapse of Lehman Brothers, congestion charging, demographic transition, diversified portfolio, experimental subject, hiring and firing, land tenure, low skilled workers, M-Pesa, microcredit, moral hazard, purchasing power parity, randomized controlled trial, Richard Thaler, school vouchers, Silicon Valley, The Fortune at the Bottom of the Pyramid, Thomas Malthus, urban planning

In 2002, Robert Jensen of the University of California at Los Angeles teamed up with some of these centers to organize recruiting sessions for young women in randomly selected villages in rural areas where recruiters would typically not go, in three states in northern India. Not surprisingly, compared to other randomly chosen villages that did not see any such recruiting efforts, there was an increase in the employment of young women in business process outsourcing centers (BPOs) in these villages. Much more remarkably, given that this is the part of India probably most notorious for discrimination against women, three years after the recruiting started, girls age five to eleven were about 5 percentage points more likely to be enrolled in school in the villages where there was recruiting. They also weighed more, suggesting that parents were taking better care of them: They had discovered that educating girls had economic value, and were happy to invest.10 Since parents are able to respond to changes in the need for an educated labor force, the best education policy, for the demand wallahs, is no education policy.

Banerji, Rukmini Bangladesh Rehabilitation Assistance Committee (BRAC) Bank of America Banking Correspondent Act Bankruptcy Banks problems with Barker, David Basic skills, focus on Basix Becker, Gary Bed nets buying income gain and subsidized Beliefs faith and weak Ben Sedan, Allal Bhopa diseases, doctor diseases and Bloomberg, Michael Bongaarts, John Boyce, Jim Brain process Breast-feeding Bribes Burgess, Robin Business process outsourcing centers (BPOs) Businesses borrowing by investment in poor and Businesses (continued) profits for small/medium starting Calories consumption of production and Capital capitalists without human Case, Anne Castes Casual labor Centers for Disease Control Chattopadhyay, Raghabendra Chavan, Madhav Child mortality Children educated family size and as financial instruments higher-caste/lower-caste income and Chlorin Chlorine Cica Das Citibank Civil liberties Civil society Cohen, Jessica Coimbatore Collier, Paul Common Wealth (Sachs) Community Driven Development Conditional cash transfers (CCTs) Consultative Group to Assist the Poor (CGAP) Consumption Contraception access to availability of Corruption fighting Cortisol Credit Curriculum Dai Manju Das, Jishnu Data Deaton, Angus Debt freedom from Decentralization Decisionmaking family Default rates Demand wallahs Democracy in practice Depression Development economics Deworming Dhaliwal, Iqbal Diarrhea treating Dickens, Charles Diet poor and rich and Discrimination Diseases Doctor diseases, bhopa diseases and Doctors allopatic government private/public Dreze, Jean Drought Dry sand, making Duflo, Esther fertilizer and panchayat survey by Dupas, Pascaline study by Earth Institute East India Company College Easterly,William bed nets and demand wallahs and democracy and poverty traps and on RCT Economic growth Education family size and girls and income and investing in parental interest in poverty and primary quality reengineering remedial secondary value of Education for All Summit (2000) Education policy demand wallahs and supply wallahs and tools of choice in top-down “Efficient household” model Einstein, Albert Elders, caring for Emergency (1975–1977) Emptat, Ibu Entrepreneurs micro- rules of thumb and Entrepreneurship microcredit and poor and problems with rates of return for technologies and Ethnicity Experiment Faith Family extended function of Family planning encouraging Family Planning and Maternal and Child Health Program (FPMCH) Family size education and savings and Farmers insurance and suicide of Farming Fertility control over decrease in income and rates therapies Fertilizer buying using Field, Erica Financial instruments, children as Financial sector Financing Fish sauce Fogel, Robert Food aid availability of budget for consumption of income and prices Food and Drug Administration (FDA) Food prices Foreign aid Foster, Andrew Foundation for International Community Assistance (FINCA) Free markets Fruit and vegetable sellers Funerals, spending on Gandhi, Indira Gandhi, Sanjay Gates Foundation Gibbons, Donna Governments credibility for foreign aid and local problems for Gram Panchayat (GP) Gram Vikas Grameen Bank Green, Donald Green, Jennifer Green Revolution Hammer, Jeff Harlem Children’s Zone Hartman, Betsey Harvest Plus Hatch, John Health free market economists and improving investing in maternal Health care effectiveness of family size and immunizations and learning about overtreatment and problem of spending on Health insurance market for problems with providing Health shocks Health trap Helms, Brigit HIV/AIDS Hope Hospitalization Hunger Hyderabad businesses in schools in survey in Ibu Emptat Ibu Tina shock on fortunes of ICICI ICS Africa Ideology Immunization benefits of health care and incentives for information about rates Immunization camps Income agricultural children and decline in drought and education and fertility and food and growth of illness and malaria and steady/predictable Indian Council of Medical Research Indian Institute of Management Indian Institute of Technology Information collecting imperfect Infosys INPRES Institutional Revolutionary Party (PRI) Institutions bad colonial economic innovation by international manipulating political See also Microfinance institutions Insurance demand for fraud health informal poor and understanding weather Insurance companies, poor and Interest rates poor and International Child Support Intervention education government public supply-side top-down Investments Iodine Iron Iron law of oligarchy Iyer, Lakshmi Jensen, Robert Jobs buying good Johnson, Simon Jolie, Angelina Karlan, Dean KAS, bankruptcy of Kecamatan Development Project (KDP) Kennedy (farmer) Keynes, John Maynard Khanna,Tarun Khetan, Neelima Knowledge Is Power Program (KIPP) schools Kremer, Michael on chlorine dispenser fertilizers and SAFI and Kristof, Nicholas L-shape curve Law Commission of India Learning and Educational Achievement in Pakistan Schools (LEAPS) Learning to Read Lehman Brothers Lei, Miao Levy, Santiago Loans collecting on emergency government-sponsored home-equity home improvement local long-term project mandatory political priorities and poor and problems with repaying London School of Economics Lotteries, business grant M-PESA Macro programs, micro insight for Madiath, Joe Malaria eradication of Malnutrition Malthus,Thomas Maquilladoras Margin, changes at Marginal return Maternal mortality Matlab program Mbarbk, Oucha Medicare Medicine Meillassoux, Claude Microcredit effectiveness of limits of poor/future and Microfinance contracts movement Microfinance (continued) poor and poverty and repayment discipline and Microfinance institutions (MFIs) borrowing from insurance for loans from microcredit and monitoring by poor and subsidizing of successful borrowers and zero default and See also Institutions Micronutrient Initiative Micronutrients Migration Millennium Development Goals (MDGs) Miller, Nolan Miracles, underutilized Modimba, Anna Modimba, Michael Moneylenders MFIs and problems for Monitoring Mor, Nachiket Moral hazards Moyo, Dambisa Mullainathan, Sendhil Munshi, Kaivan Murthy, Narayan National Family Health Survey (NFHS 3) NGOs Nilekani, Nandan Nudges Nurses Nutrition calories and family size and income and obesity/diabetes and poverty traps and pregnancy and Olken, Benjamin Olympic Games, poor countries and Omidyar, Pierry One-child policy OPORTUNIDADES Opportunities Opportunity International Oral rehydration solution (ORS) Organization for Economic Co-operation and Development (OECD) Orwell, George Otieno, Wycliffe Pak Awan Pak Solhin poverty trap and Pak Sudarno Pande, Rohini Parmentier, Antoine Paternalism Paxson, Chris Pensions Performance Pitt, Mark Police Act (1861) Police Reform Commissions Policies anti-poverty developing education food good/bad macroeconomic one-child politics and population social Political economy Politics economics and ethnic good policies and women and Population control Population Council Population growth Population policy Population Services International (PSI) Poverty breaking cycle of decrease in education and eradicating extreme fertility and hunger and microfinance and self-control and Poverty Action Lab Poverty trap education and escaping health-based inverted L-shape and nutrition and S-shape curve and Pradhan Prahalad, C.

pages: 391 words: 97,018

Better, Stronger, Faster: The Myth of American Decline . . . And the Rise of a New Economy by Daniel Gross


2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, Affordable Care Act / Obamacare, Airbnb, American Society of Civil Engineers: Report Card, asset-backed security, Bakken shale, banking crisis, BRICs, British Empire, business process, business process outsourcing, call centre, Carmen Reinhart, clean water, collapse of Lehman Brothers, collateralized debt obligation, commoditize, creative destruction, credit crunch, currency manipulation / currency intervention, demand response, Donald Trump, Frederick Winslow Taylor, high net worth, housing crisis, hydraulic fracturing, If something cannot go on forever, it will stop - Herbert Stein's Law, illegal immigration, index fund, intangible asset, intermodal, inventory management, Kenneth Rogoff, labor-force participation, LNG terminal, low skilled workers, Mark Zuckerberg, Martin Wolf, Maui Hawaii, McMansion, money market fund, mortgage debt, Network effects, new economy, obamacare, oil shale / tar sands, oil shock, peak oil, Plutocrats, plutocrats, price stability, quantitative easing, race to the bottom, reserve currency, reshoring, Richard Florida, rising living standards, risk tolerance, risk/return, Silicon Valley, Silicon Valley startup, six sigma, Skype, sovereign wealth fund, Steve Jobs, superstar cities, the High Line, transit-oriented development, Wall-E, Yogi Berra, zero-sum game, Zipcar

In the past several years, I’ve been to five continents, two dozen countries, and thirty-five U.S. states. These travels have given me a chance to see firsthand many of the trends that are shaping our world. I’ve spent time with oil CEOs in Houston and solar panel makers in Boulder. I’ve visited a Prius factory in Japan and a bustling Chang’an-Ford auto plant in Chongqing, China, gas turbine factories in South Carolina and a business process outsourcing outpost in Bogotá, Colombia. I’ve chatted about the credit crunch with Warren Buffett and Blackstone Group’s chairman Stephen Schwarzman. I’ve toured thriving fish factories outside Saigon, publishing offices in Istanbul, gas stations in Soweto, and an aluminum smelter on a glacial fjord in eastern Iceland. I’ve interviewed small-town bankers and private equity magnates, American executives at Indian wind-turbine makers and Indian executives at American computer companies; dined at Davos with Nissan CEO Carlos Ghosn; and interviewed managers of 99-cent stores in Upper Manhattan.

Edwards Deming, the chief evangelist of the gospel of quality, had to go to Japan to find a receptive audience in the 1950s. But after a couple of tough decades in which foreign competition began to erode American advantages, U.S. manufacturers rediscovered efficiency with a vengeance in the 1980s and 1990s. Total quality management, the discipline of reengineering, and the glories of business-process outsourcing transformed the manufacturing industry. In services, Walmart’s insanely efficient supply chains relentlessly drove costs out of the system and set a global standard for rational logistics. McKinsey’s armies of whip-smart technocrats roamed the globe, peddling expensive advice on how to rationalize operations. In the happy expansion of the 2000s, efficiency and internal resources were easily overlooked.

pages: 777 words: 186,993

Imagining India by Nandan Nilekani


affirmative action, Airbus A320, BRICs, British Empire, business process, business process outsourcing, call centre, clean water, colonial rule, corporate governance, cuban missile crisis, deindustrialization, demographic dividend, demographic transition, Deng Xiaoping, digital map, distributed generation, farmers can use mobile phones to check market prices, full employment, ghettoisation, glass ceiling, global supply chain, Hernando de Soto, income inequality, informal economy, Intergovernmental Panel on Climate Change (IPCC), joint-stock company, knowledge economy, labour market flexibility, land reform, light touch regulation, LNG terminal, load shedding, Mahatma Gandhi, market fragmentation, mass immigration, Mikhail Gorbachev, Network effects, new economy, New Urbanism, open economy, Parag Khanna, pension reform, Potemkin village, price mechanism, race to the bottom, rent control, rolodex, Ronald Reagan, school vouchers, Silicon Valley, smart grid, special economic zone, The Wealth of Nations by Adam Smith, Thomas L Friedman, Thomas Malthus, transaction costs, trickle-down economics, unemployed young men, upwardly mobile, urban planning, urban renewal, women in the workforce, working poor, working-age population

This change is especially clear in our attitude toward English, which has undergone a transformation postreform. The change was largely driven by the rise of India’s outsourcing industry. The 1990s had marked the rise of Indian IT companies including Infosys, and our key advantage in competing in the global services market—our purple poker chip—has been India’s large numbers of affordable, educated and English-literate workers. In the business process outsourcing (BPO) sector in particular, more than 65 percent of jobs are defined as voice-based jobs, and English-language proficiency is the main requirement for these companies. These firms were closely aligned with global corporations, and both productivity and wages were linked quite closely to global market averages. The result was that, through the 1990s, potential earnings for India’s English-skilled graduates surged.

Birla Institute of Technology and Science birth certificates Bissell, George Bissell, William Blitz Bloom, David Bloomberg, Michael Bofors scandal Bombay Bombay Club Bombay House Bombay Plan Bombay Sensex (BSE) Bombay University bonds, government Bordia, Anil Borlaug, Norman Bose, Ashish Bose, Subhas Chandra Bound Together (Chanda) BPL Mobile Brahmins Brazil BRIC countries bridges British Indian Association Buch, Madhabi build-operate-transfer (BOT) models build-own-operate-transfer (BOOT) model Bulgaria Burma Burmah-Shell Bush, George W. business, Indian: attitudes towards ; big ; caste system in ; competition in ; entrepreneurship in ; family-owned ; foreign ; government regulation of; licenses for ; management of ; mergers and acquisitions (M&A) in ; profits of; small; state-run ; supply chains of ; transparency in ; younger generation in business process outsourcing (BPO) Business Standard Calcutta Calcutta Municipal Corporation Calcutta Tramways Calcutta University Calico Act (1701) Caltex Calypso Foods canals cancer “cap and trade” system capitalism carbon emissions carbon-pricing systems carbon taxes Caste, Class and Power (Béteille) caste certificates Center for Science and Environment (CSE) Center of Indian Trade Unions (CITU) Center of Policy Research (CPR) Central Intelligence Agency (CIA) CENVAT Chak de India Chancellor, Richard Chanda, Nayan Chandigarh Chandni Chowk Chandra, Kanchan Chandrasekhar, S.

CEO Forum Industrial Development and Regulation Act (1951) Industrial Revolution infant mortality rates inflation information technology (IT); acceptance of; in agriculture ; in banking ; caste identification and; computers in ; economic impact of ; education and ; for energy sources; entrepreneurs in; for environmental issues; “gatekeepers” eliminated by ; in global economy ; government policies on ; growth of ; for health care ; identity cards supported by; Internet access of ; investment in ; jobs created by ; kiosks for ; for land records, ; low-cost approach of; outsourcing of; see also business process outsourcing; paperwork eliminated by; political applications of; poverty alleviated by ; for railroad schedules ; for retirement funds ; in rural areas ; for social services; for stock exchanges ; for taxation; technological revolution in; in telecommunications ; in urban areas ; for voting ; see also software industry Infosys Technologies Institution for Human Settlements insurance industry Insurance Regulatory Authority of India (IRAI) Integrated Energy Policy interest rates Intergovernmental Panel on Climate Change (IPCC) International Food Policy Research Institute International Monetary Fund (IMF) International Water Management Institute International Year of the Aged Invest India Foundation investment, capital Iran Ireland iron irrigation ISO 9000 certifications Israel Ivory Coast Iyengar, Haravu Raj Jaffrelot, Christophe Jain, L.

pages: 391 words: 117,984

The Blue Sweater: Bridging the Gap Between Rich and Poor in an Interconnected World by Jacqueline Novogratz


access to a mobile phone, Ayatollah Khomeini, Berlin Wall, business process, business process outsourcing, clean water, failed state, Fall of the Berlin Wall, half of the world's population has never made a phone call, Hernando de Soto, Kibera, Lao Tzu, market design, microcredit, out of africa, Ronald Reagan, sensible shoes, side project, Silicon Valley, Skype, The Fortune at the Bottom of the Pyramid, transaction costs, zero-sum game

A doctor friend of Satyan’s replied that open defecation was one of the biggest public health issues the area faced, reminding us that some health investments are best undertaken through effective awareness campaigns, not through medicines or direct services. Against this backdrop, we sat in a circle under tall green trees outside Satyan’s childhood home, cows lolling in the distance. Satyan pulled out his computer to show us the work he was doing to establish a business processing outsourcing (BPO) unit here. Already, he’d secured wireless, and sure enough, in this tiny village so far away from everything, we were able to check my e-mail and read the New York Times. Inside a small house, six young men sat inputting data for a bank in Delhi, all earning more than they had ever dreamed they could. A 17-year-old, too young to work at the BPO, introduced himself and showed us the Web site he had built.

See Blue bakery Banks, 7, 268 Bartering, 65–66 Bassani, Bilge Ogun, 39–40, 53 Beatrice (Jamii Bora member), 273–74 Biko, Stephen (Steve), 101 Bill and Melinda Gates Foundation, 264, 270 Bilo (Kenyan security guard), 92 Blackwell, Angela Glover, 154–55 Blackwell, Unita, 159–60 Blue bakery accounting and accountability problems of, 79–80 Consolata and, 75, 78–81, 81 expansion of, 87 financing, 75–76 founding of, 72–76 Gaudence and, 75, 80–81, 85–86 growth of, 79, 82–83, 87–88 Honorata and, 73–77, 78 Josepha and, 75, 83, 86 legacy of, 164 lessons learned from, 86, 88 messages of, 88 painting building of, 85–86 postgenocide, 163–64 Prisca and, 74–78, 79–85, 88 Prudence and, 72 quality control and, 88 sales tactics of, 78–79, 80–81 setbacks of, 83, 86–88 success of, 113 Blue sweater story, 1–3, 272 Bohri woman, 236–37 Boniface (Rwandan driver), 37–39, 42, 47, 64–67, 72, 78–79, 83, 86, 106–7, 163 BPO, 233 Brazil, 7–8 Bride price, 62–63 Bright, Rita, 156–57 Brown, Tim, 230 Buddha, 146 Buffet, Warren, 284 Burundi, 13, 51 Business processing outsourcing (BPO), 233 Buxbaum, David, 220, 226 C Cambodia, 144–45 Capitalism, future of, 136 Carnegie, Andrew, 143 Catfish factories (Mississippi Delta), 159–61 Catherine (Acumen Fund fellow), 278 Cesare (Rwandan doctor), 90 Charity, traditional, 76, 151, 211, 218, 228–29 Charles (Novogratz’s friend), 84–85, 108–10, 113, 120–25 Charlotte (restaurant proprietor), 205–7, 262 Chase Manhattan Bank, 5–7, 11, 56, 64 Chloroquine, 255–56 Choices, 115 Chowdhury (Indian guide), 118–19, 267 Churchill, Winston, 17 Cisco Foundation, 217, 220–21 Cissy (Ugandi woman), 17–19 Citibank, 238 Citizens Foundation, 280 Collaboration, 280 Collette (Honorata’s mother), 167–68, 174–75 Colombia, 158–59 Committee decision making, 139 Community and community work, 4, 55, 284 Consolata (blue bakery worker), 75, 78–81, 83 Constance (Rwandan parliamentarian), 46–49, 63–64 Conviction, 284 Conway, Sir Gordon, 213–14 COOPEDU (credit union), 206 Corruption, 98–99, 184, 211–12 Cost of Good Intentions, The (report), 148–49, 151 Cote d’Ivoire, 15, 19–28, 63 Cry Freedom (film), 101 D Dalit caste, 247 Damascene (office assistant), 112 Dativa (bank executive director), 203 Davidson, Stuart, 215–17 Democracy, attempts to impose, 187–88 Dhammayietra (pilgrimage), 144–45 Dieu Donne (Zairean artist), 57, 126, 204 Discipline, 272 Diversity, 154–55, 188 Doctors without Borders, 171 Dot-com boom, 213, 217 Drayton, Bill, 214–15 Drip irrigation projects, 247–51 Drishtee, 231–33, 275 Duncan (engineer), 131–32 Duterimbere.

pages: 209 words: 80,086

The Global Auction: The Broken Promises of Education, Jobs, and Incomes by Phillip Brown, Hugh Lauder, David Ashton


active measures, affirmative action, barriers to entry, Branko Milanovic, BRICs, business process, business process outsourcing, call centre, collective bargaining, corporate governance, creative destruction, credit crunch, David Ricardo: comparative advantage, deindustrialization, deskilling, Frederick Winslow Taylor, full employment, future of work, glass ceiling, global supply chain, immigration reform, income inequality, industrial cluster, industrial robot, intangible asset, job automation, Joseph Schumpeter, knowledge economy, knowledge worker, labour market flexibility, low skilled workers, manufacturing employment, market bubble, market design, neoliberal agenda, new economy, Paul Samuelson, pensions crisis, post-industrial society, profit maximization, purchasing power parity, QWERTY keyboard, race to the bottom, Richard Florida, Ronald Reagan, shareholder value, Silicon Valley, sovereign wealth fund, stem cell, The Bell Curve by Richard Herrnstein and Charles Murray, The Wealth of Nations by Adam Smith, Thomas L Friedman, trade liberalization, transaction costs, trickle-down economics, winner-take-all economy, working poor, zero-sum game

Within a major American bank, there was no strategy to shift jobs to India from New York or elsewhere within the group, but a discussion between senior staff in Mumbai and sponsors in New York led to a “handshake for a few operations jobs.” This was in 2002, when the company began engaging in a number of pilot projects in response to increasing cost pressures. The experiment with back-office functions reflected the growth in offshore call centers and business process outsourcing (BPO). There was little point using staff in New York or London to process invoices or very basic data-entry jobs when it could be done in real time in India or Vietnam at a fraction of the price. Although the company was in the early stages of developing wealth management and investment banking within the country, there was rapid growth of the middle office that includes research and analytical jobs for its New York and London offices.

pages: 392 words: 104,760

Babel No More: The Search for the World's Most Extraordinary Language Learners by Michael Erard


Asperger Syndrome, business process, business process outsourcing, call centre, complexity theory, European colonialism, pattern recognition, Sapir-Whorf hypothesis, Skype, Steven Pinker, theory of mind

“A lot of Indians can’t understand other Indians in English, because each region has its own accent.” One example: the English word zoo. Because Indian languages don’t have the z, the word is pronounced “soo” (in the south) or “joo” (in the north). This sort of native inflection can keep people from getting jobs in the booming call-center industry in Hyderabad and Bangalore, two huge, bustling cities that are home to high-tech companies and the “business process outsourcing” industry. Eapen’s school was one of dozens teaching the “soft skills”: team building, negotiation, and English pronunciation. Students were paying him 6,000 rupees (about $126 US) to help them neutralize their accents in English; he himself has a crisp British accent, which he honed working in Kuwait and Dubai. The courses last for three months, five days a week, two hours a day. “We’re the only place that teaches phonetics,” Eapen said.

pages: 352 words: 104,411

Rush Hour by Iain Gately


Albert Einstein, autonomous vehicles, Beeching cuts, blue-collar work, British Empire, business intelligence, business process, business process outsourcing, call centre, car-free, Cesare Marchetti: Marchetti’s constant, Clapham omnibus, cognitive dissonance, congestion charging, connected car, corporate raider, DARPA: Urban Challenge, Dean Kamen, decarbonisation, Deng Xiaoping, Detroit bankruptcy, don't be evil, Elon Musk, extreme commuting, Google bus, Henri Poincaré, Hyperloop, Jeff Bezos, low skilled workers, Marchetti’s constant, postnationalism / post nation state, Ralph Waldo Emerson, remote working, self-driving car, Silicon Valley, stakhanovite, Steve Jobs, telepresence, Tesla Model S, urban planning, éminence grise

Differences between projections and the truth wouldn’t have been quite so great if foreign telecommuters had been included in domestic counts. Advocates of virtual commuting overlooked the impact of globalization on their dream, and its unintended consequence of outsourcing, in the sense of sending jobs overseas. Employers in both the EU and the USA, obedient to the letter if not the spirit of pro-telework legislation, decarbonized (and gave their ex-workers more social time) by Business Process Outsourcing (BPO), i.e. relocating their call centres and sundry other corporate functions to Asia. In consequence, a Westerner looking to telecommute in their own country would be best advised to emigrate to India, Mexico, Bangladesh or some other developing nation, where literacy is high and talk is cheap. India, for example, is home to as many British telecommuters as actually live in the UK.

pages: 329 words: 95,309

Digital Bank: Strategies for Launching or Becoming a Digital Bank by Chris Skinner


algorithmic trading, Amazon Web Services, Any sufficiently advanced technology is indistinguishable from magic, augmented reality, bank run, Basel III, bitcoin, business intelligence, business process, business process outsourcing, call centre, cashless society, clean water, cloud computing, corporate social responsibility, credit crunch, crowdsourcing, cryptocurrency, demand response, disintermediation, don't be evil,, fault tolerance, fiat currency, financial innovation, Google Glasses, high net worth, informal economy, Infrastructure as a Service, Internet of things, Jeff Bezos, Kevin Kelly, Kickstarter, M-Pesa, margin call, mass affluent, mobile money, Mohammed Bouazizi, new economy, Northern Rock, Occupy movement, Pingit, platform as a service, Ponzi scheme, prediction markets, pre–internet, QR code, quantitative easing, ransomware, reserve currency, RFID, Satoshi Nakamoto, Silicon Valley, smart cities, software as a service, Steve Jobs, strong AI, Stuxnet, trade route, unbanked and underbanked, underbanked, upwardly mobile, We are the 99%, web application, Y2K

But the risk of losing scale, resilience, security and control is the core issue at a bank’s heart, and they’re not willing to take that risk with cloud, especially if no-one can define it. Talk to anyone and they define it different ways and, in all of this confusion, the decision maker is left confused. Nevertheless, we are moving from a world of finance where technology was core to efficiency in its first wave, and differentiation was core in its second. Initially, mainframe compute power and then Business Process Outsourcing (BPO) and virtualisation created efficient computing capabilities for financial firms. Then the ease of modular computing, service-oriented architectures and Ajax Web 2.0 has made computing applications the differentiating factor between a winning bank and an also-ran bank. Now we are moving to an age where computing and applications just don’t matter. Everything will be utility computing through the cloud.

pages: 327 words: 90,542

The Age of Stagnation by Satyajit Das


9 dash line, accounting loophole / creative accounting, additive manufacturing, Airbnb, Albert Einstein, Alfred Russel Wallace, Anton Chekhov, Asian financial crisis, banking crisis, Berlin Wall, bitcoin, Bretton Woods, BRICs, British Empire, business process, business process outsourcing, call centre, capital controls, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, Clayton Christensen, cloud computing, collaborative economy, colonial exploitation, computer age, creative destruction, cryptocurrency, currency manipulation / currency intervention, David Ricardo: comparative advantage, declining real wages, Deng Xiaoping, deskilling, disintermediation, Downton Abbey, Emanuel Derman, energy security, energy transition, eurozone crisis, financial innovation, financial repression, forward guidance, Francis Fukuyama: the end of history, full employment, gig economy, Gini coefficient, global reserve currency, global supply chain, Goldman Sachs: Vampire Squid, happiness index / gross national happiness, Honoré de Balzac, hydraulic fracturing, Hyman Minsky, illegal immigration, income inequality, income per capita, indoor plumbing, informal economy, Innovator's Dilemma, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Jane Jacobs, John Maynard Keynes: technological unemployment, Kenneth Rogoff, knowledge economy, knowledge worker, labour market flexibility, labour mobility, light touch regulation, liquidity trap, Long Term Capital Management, low skilled workers, Lyft, Mahatma Gandhi, margin call, market design, Marshall McLuhan, Martin Wolf, Mikhail Gorbachev, mortgage debt, mortgage tax deduction, new economy, New Urbanism, offshore financial centre, oil shale / tar sands, oil shock, old age dependency ratio, open economy, passive income, peak oil, peer-to-peer lending, pension reform, Plutocrats, plutocrats, Ponzi scheme, Potemkin village, precariat, price stability, profit maximization, pushing on a string, quantitative easing, race to the bottom, Ralph Nader, Rana Plaza, rent control, rent-seeking, reserve currency, ride hailing / ride sharing, rising living standards, risk/return, Robert Gordon, Ronald Reagan, Satyajit Das, savings glut, secular stagnation, seigniorage, sharing economy, Silicon Valley, Simon Kuznets, Slavoj Žižek, South China Sea, sovereign wealth fund, TaskRabbit, The Chicago School, The Great Moderation, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, the market place, the payments system, The Spirit Level, Thorstein Veblen, Tim Cook: Apple, too big to fail, total factor productivity, trade route, transaction costs, unpaid internship, Unsafe at Any Speed, Upton Sinclair, Washington Consensus, We are the 99%, WikiLeaks, Y2K, Yom Kippur War, zero-coupon bond, zero-sum game

A pair of trousers could be made using yarn spun in Bangladesh that was then woven into fabric and dyed in India, China, or Vietnam; the zipper might be manufactured in Japan and the buttons in China; and the whole could be stitched together in Sri Lanka, Pakistan, or Honduras. Each stage was undertaken in the most efficient location, with businesses and nations embracing a transnational system of production. Firms aggressively sought competitively priced raw materials, labor, and locations. With the ubiquitous call centers and processing hubs, business process outsourcing and multinational manufacturing became the norm. The reintegration of China, India, Russia, and Eastern Europe into the world economy increased the global labor pool from approximately 1.5 billion workers to nearly 3 billion. Costs fell as businesses relocated production to the cheapest locations. Savings sought profitable investment opportunities worldwide, facilitated by investment and risk management instruments.

pages: 410 words: 101,260

Originals: How Non-Conformists Move the World by Adam Grant

Albert Einstein, Apple's 1984 Super Bowl advert, availability heuristic, barriers to entry, business process, business process outsourcing, Cass Sunstein, clean water, cognitive dissonance, creative destruction, cuban missile crisis, Daniel Kahneman / Amos Tversky, Dean Kamen, double helix, Elon Musk, fear of failure, Firefox, George Santayana, Ignaz Semmelweis: hand washing, Jeff Bezos, job satisfaction, job-hopping, Joseph Schumpeter, Kickstarter, Lean Startup, Louis Pasteur, Mahatma Gandhi, Mark Zuckerberg, meta analysis, meta-analysis, minimum viable product, Network effects, pattern recognition, Paul Graham, Peter Thiel, Ralph Waldo Emerson, random walk, risk tolerance, Rosa Parks, Saturday Night Live, Silicon Valley, Skype, Steve Jobs, Steve Wozniak, Steven Pinker, The Wisdom of Crowds, women in the workforce

MacKinnon, “The Nature and Nurture of Creative Talent,” American Psychologist 17 (1962): 484–95, and “Personality and the Realization of Creative Potential,” American Psychologist 20 (1965): 273–81. a study of pizza chains: Adam M. Grant, Francesca Gino, and David A. Hofmann, “Reversing the Extraverted Leadership Advantage: The Role of Employee Proactivity,” Academy of Management Journal 54 (2011): 528–50. companies in India: Sucheta Nadkarni and Pol Herrmann, “CEO Personality, Strategic Flexibility, and Firm Performance: The Case of the Indian Business Process Outsourcing Industry,” Academy of Management Journal 53 (2010): 1050–73. evaluated their strategies at the midpoint: Anita Williams Woolley, “Effects of Intervention Content and Timing on Group Task Performance,” Journal of Applied Behavioral Science 34 (1998): 30–46. the midpoint of a task: Connie J. G. Gersick, “Marking Time: Predictable Transitions in Task Groups,” Academy of Management Journal 32 (1989): 274–309, and “Revolutionary Change Theories: A Multilevel Exploration of the Punctuated Equilibrium Paradigm,” Academy of Management Review 16 (1991): 10–36.

pages: 382 words: 120,064

Bank 3.0: Why Banking Is No Longer Somewhere You Go but Something You Do by Brett King


3D printing, additive manufacturing, Airbus A320, Albert Einstein, Amazon Web Services, Any sufficiently advanced technology is indistinguishable from magic, asset-backed security, augmented reality, barriers to entry, bitcoin, bounce rate, business intelligence, business process, business process outsourcing, call centre, capital controls, citizen journalism, Clayton Christensen, cloud computing, credit crunch, crowdsourcing, disintermediation,, fixed income, George Gilder, Google Glasses, high net worth, I think there is a world market for maybe five computers, Infrastructure as a Service, invention of the printing press, Jeff Bezos, jimmy wales, London Interbank Offered Rate, M-Pesa, Mark Zuckerberg, mass affluent, Metcalfe’s law, microcredit, mobile money, more computing power than Apollo, Northern Rock, Occupy movement, optical character recognition, peer-to-peer, performance metric, Pingit, platform as a service, QR code, QWERTY keyboard, Ray Kurzweil, recommendation engine, RFID, risk tolerance, Robert Metcalfe, self-driving car, Skype, speech recognition, stem cell, telepresence, Tim Cook: Apple, transaction costs, underbanked, US Airways Flight 1549, web application

Big data sizes are a constantly moving target, and as of 2012, range from a few dozen terabytes to many petabytes of data in a single data set. Bitcoin: A type of P2P digital currency. Blog: A contraction of the term “web log”—a type of website usually maintained by an individual with regular entries of commentary, descriptions of events, or other material such as graphics or video. BPO: Business Process Outsourcing—the practice of outsourcing some or all of the business’s back-office processes to an external company or service provider; common with call centres and IT support. BPR: Business Process Re-engineering—re-engineering business processes to either reduce costs or improve the flow of a process for customers. CapEx: Capital Expense CES: Consumer Electronics Show Churn: This refers to customers moving from a service provider within one specific product category to another, based on price, value or some other factor.

pages: 742 words: 137,937

The Future of the Professions: How Technology Will Transform the Work of Human Experts by Richard Susskind, Daniel Susskind


23andMe, 3D printing, additive manufacturing, AI winter, Albert Einstein, Amazon Mechanical Turk, Amazon Web Services, Andrew Keen, Atul Gawande, Automated Insights, autonomous vehicles, Big bang: deregulation of the City of London, big data - Walmart - Pop Tarts, Bill Joy: nanobots, business process, business process outsourcing, Cass Sunstein, Checklist Manifesto, Clapham omnibus, Clayton Christensen, clean water, cloud computing, commoditize, computer age, Computer Numeric Control, computer vision, conceptual framework, corporate governance, creative destruction, crowdsourcing, Daniel Kahneman / Amos Tversky, death of newspapers, disintermediation, Douglas Hofstadter,, Erik Brynjolfsson, Filter Bubble, Frank Levy and Richard Murnane: The New Division of Labor, full employment, future of work, Google Glasses, Google X / Alphabet X, Hacker Ethic, industrial robot, informal economy, information retrieval, interchangeable parts, Internet of things, Isaac Newton, James Hargreaves, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, Joseph Schumpeter, Khan Academy, knowledge economy, lifelogging, lump of labour, Marshall McLuhan, Metcalfe’s law, Narrative Science, natural language processing, Network effects, optical character recognition, Paul Samuelson, personalized medicine, pre–internet, Ray Kurzweil, Richard Feynman, Richard Feynman, Second Machine Age, self-driving car, semantic web, Shoshana Zuboff, Skype, social web, speech recognition, spinning jenny, strong AI, supply-chain management, telepresence, The Future of Employment, the market place, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, transaction costs, Turing test, Watson beat the top human players on Jeopardy!, young professional

Practising doctors, priests, teachers, and auditors did not, for example, develop the software that supports the systems that we describe. Stepping forward instead are data scientists, process analysts, knowledge engineers, systems engineers, and many more (see Chapter 6). Today, professionals still provide much of the content, but in time they may find themselves down-staged by these new specialists. We also see a diverse set of institutions entering the fray—business process outsourcers, retail brands, Internet companies, major software and service vendors, to name a few. What these providers have in common is that they look nothing like twentieth-century doctors, accountants, architects, and the rest. More than this, human experts in the professions are no longer the only source of practical expertise. In Chapter 2 there are illustrations of practical expertise being made available by recipients of professional work—in effect, sidestepping the gatekeepers.

pages: 483 words: 134,377

The Tyranny of Experts: Economists, Dictators, and the Forgotten Rights of the Poor by William Easterly


air freight, Andrei Shleifer, battle of ideas, Bretton Woods, British Empire, business process, business process outsourcing, Carmen Reinhart, clean water, colonial rule, correlation does not imply causation, creative destruction, Daniel Kahneman / Amos Tversky, Deng Xiaoping, desegregation, discovery of the americas, Edward Glaeser,, European colonialism, Francisco Pizarro, fundamental attribution error, germ theory of disease, greed is good, Gunnar Myrdal, income per capita, invisible hand, James Watt: steam engine, Jane Jacobs, John Snow's cholera map, Joseph Schumpeter, Kenneth Arrow, Kenneth Rogoff, M-Pesa, microcredit, Monroe Doctrine, oil shock, place-making, Ponzi scheme, risk/return, road to serfdom, Silicon Valley, Steve Jobs, The Death and Life of Great American Cities, The Wealth of Nations by Adam Smith, Thomas L Friedman, urban planning, urban renewal, Washington Consensus, World Values Survey, young professional

The Broadband Commission for Digital Development will work to realize this potential.2 Some dissidents questioned what President Kagame had implicitly commanded them not to question: the “obvious benefits” of the “transformational impact of broadband.” University of California at Berkeley researcher Kentaro Toyama cites surveys that show when a village gets hooked up to the Internet on a PC, “the dominant use is by young men,” who are “playing games, watching movies, or consuming adult content.”3 On the other side of the ledger, India’s IT industry has captured 35 percent of the world market for business-process outsourcing while India ranks 114th in the world in average Internet connection speed.4 Wiring the world to end poverty overlooks how many less-faddish technologies are still lacking among the poor. The development audience gets excited about farmers in a remote but wired village finding out prices in real time for their crops. It fails to ask whether those farmers have motor vehicles to transport the crops to the market to get that price.

The End of Power: From Boardrooms to Battlefields and Churches to States, Why Being in Charge Isn’t What It Used to Be by Moises Naim


additive manufacturing, barriers to entry, Berlin Wall, bilateral investment treaty, business process, business process outsourcing, call centre, citizen journalism, Clayton Christensen, clean water, collapse of Lehman Brothers, collective bargaining, colonial rule, conceptual framework, corporate governance, creative destruction, crony capitalism, deskilling, disintermediation, don't be evil, failed state, Fall of the Berlin Wall, financial deregulation, Francis Fukuyama: the end of history, illegal immigration, immigration reform, income inequality, income per capita, intangible asset, intermodal, invisible hand, job-hopping, Joseph Schumpeter, Julian Assange, Kickstarter, liberation theology, Martin Wolf, mega-rich, megacity, Naomi Klein, Nate Silver, new economy, Northern Rock, Occupy movement, open borders, open economy, Peace of Westphalia, Plutocrats, plutocrats, price mechanism, price stability, private military company, profit maximization, Ronald Coase, Ronald Reagan, Silicon Valley, Skype, Steve Jobs, The Nature of the Firm, Thomas Malthus, too big to fail, trade route, transaction costs, Washington Consensus, WikiLeaks, World Values Survey, zero-sum game

It helps spread the idea that things do not need to be as they have always been—that there is always, somewhere and somehow, a better way. It breeds skepticism and mistrust of any authority, and an unwillingness to take any distribution of power for granted. One of the best examples of all three revolutions simultaneously at work is the Indian outsourcing industry. Young, educated Indians who belong to the country’s burgeoning middle class have flocked to work at urban call centers and other business process outsourcing (BPO) companies, which in 2011 generated $59 billion in revenue and directly and indirectly employed almost 10 million Indians.39 As Shehzad Nadeem observed in Dead Ringers, his study of the impact of Indian call centers on their workers, “The identities and aspirations of the ICT [information and communications technology] workforce are defined increasingly with reference to the West. . . .

pages: 411 words: 114,717

Breakout Nations: In Pursuit of the Next Economic Miracles by Ruchir Sharma


3D printing, affirmative action, Albert Einstein, American energy revolution, anti-communist, Asian financial crisis, banking crisis, Berlin Wall, BRICs, British Empire, business climate, business process, business process outsourcing, call centre, capital controls, Carmen Reinhart, central bank independence, centre right, cloud computing, collective bargaining, colonial rule, corporate governance, creative destruction, crony capitalism, deindustrialization, demographic dividend, Deng Xiaoping, eurozone crisis, Gini coefficient, global supply chain, housing crisis, income inequality, indoor plumbing, inflation targeting, informal economy, Kenneth Rogoff, knowledge economy, labor-force participation, labour market flexibility, land reform, M-Pesa, Mahatma Gandhi, Marc Andreessen, market bubble, mass immigration, megacity, Mexican peso crisis / tequila crisis, new economy, oil shale / tar sands, oil shock, open economy, Peter Thiel, planetary scale, quantitative easing, reserve currency, Robert Gordon, Shenzhen was a fishing village, Silicon Valley, software is eating the world, sovereign wealth fund, The Great Moderation, Thomas L Friedman, trade liberalization, Watson beat the top human players on Jeopardy!, working-age population, zero-sum game

That’s a very high urbanization rate for a nation with an average income of only $2,500, and because the concentration of people and business drives growth, it’s a big economic plus. The Philippines also has some basic advantages over Indonesia—including a well-educated English-speaking population. For three decades it squandered those advantages, but there are signs of a turnaround, the most dramatic being the rise of the Philippines as a rival to India in “business process outsourcing”—the industry that provides the operators who answer calls for customer service at almost any major global company. Call centers did not exist in the Philippines a decade ago, and now it’s a $9 billion industry employing 350,000 people. These centers are starting to open outside metro Manila and pop up all over the islands of the Philippines, to the point that some analysts think it may turn into another successful case of Southeast Asian archipelago capitalism.

pages: 489 words: 132,734

A History of Future Cities by Daniel Brook

Berlin Wall, British Empire, business process, business process outsourcing, call centre, carbon footprint, Celtic Tiger, collateralized debt obligation, collective bargaining, Credit Default Swap, credit default swaps / collateralized debt obligations, Deng Xiaoping, desegregation, Edward Glaeser, Fall of the Berlin Wall, financial innovation, glass ceiling, indoor plumbing, joint-stock company, land reform, Mikhail Gorbachev, New Urbanism, open economy, Parag Khanna, Pearl River Delta, Potemkin village, profit motive, rent control, sovereign wealth fund, special economic zone, trade route, urban planning, urban renewal, working poor

Hindu-Muslim tension had long plagued India, but in the new world of Bombay, as the English-speaking globalized elite pulled away, enjoying Western consumer goods like computers that cost more than they paid their maids and drivers in a year, the tensions became especially acute. Frustrations simmered in the chawls where lifelong jobs in the unionized mills and formerly state-owned enterprises were disappearing. Laid-off industrial workers invariably lacked the English skills needed for the new business process outsourcing jobs that soon multiplied as Western multinationals sent back-office work to the cheapest English-speaking workforce on earth. Once organized as industrial workers into unions affiliated with various left-wing political parties, working-class Bombayites were now organized along ethnic and religious lines into criminal gangs and political parties that often crossed the line into being hate groups.