One of the greatest challenges and concerns for the mortgage industry in the upcoming year is working with sub-prime borrowers who are or will shortly be in trouble with their mortgage.
There is no silver bullet that will fix this situation. Solutions will require application of Einstein’s admonition to ‘see the world anew’ to deal with this complex, multi-dimensional problem.
Key to success in dealing with at risk mortgages will be to ...
Our vocabulary and conceptualization of business determines the style and approach of an organization – intended or emergent.
The very use of the word management – from Latin for hand – largely precludes an emergent strategy or action. Originally management used their hands to show how to do something and then used their
hands to make sure it was done. An approach where one uses ones hands to direct and if needed force a specified action or activity only works in an intended environment.
Solidifying the intended approach is the conceptualization of organizations as machines. Modern organizations are structured largely based on a mechanistic view summarized well by René Descartes,
“The whole visible world is as if it were a machine in which there was nothing at all to consider except the figures and motions of its parts.” – Machines (at least those in Descartes time) can be
‘managed.’ ...
Reengineering the corporation failed. Now they are reengineering engineering. Will it succeed?
Reengineering failed largely because it forgot about people.
In 1996, a front-page Wall Street Journal article featured and quoted Michael Hammer, one of the writers of the book on reengineering. "Dr. Hammer points out a flaw: He and the other leaders of the
$4.7 billion re-engineering industry forgot about people. 'I wasn't smart enough about that,' he says. 'I was reflecting my engineering background and was insufficiently appreciative of the human
dimension. I've learned that's critical.' "
More than a decade later we see engineering schools are finally starting to take this lesson to heart. An AP article today (11.03.07) discusses why liberal arts schools are embracing engineering and
engineering students.
The article stated in part.
“The trend is driven partly by changes in accreditation standards in recent years that recognized the need for more well-rounded engineers who can better understand the
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