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A financial crisis is often associated with a panic or a bank run where investors sell off assets or withdraw money from savings accounts.
Generally, a crisis is caused if institutions or assets are overvalued, and can be worsened by panic and herd-like investor behaviour.
Contributing factors include systemic failures, unexpected or uncontrollable human behaviour, regulatory absence or failures, or contagions that is like a virus that spread from one institution or country to the next. If left unchecked, an economic crisis can cause a recession or depression.
The dangers of playing it safe appear so gradually that they rarely get noticed.
It is like a slow leak in a tire, you only notice it when you are stuck. You don't have an idea of how it h...
People try desperately to hang on to antiquated ways of doing business because of a false sense of security. They believe that they can maintain their old ideas indefinitely, even if all evidence shows the contrary.
Questioning everything could help you to spot problems and create a culture of understanding and action.
What does this business look like in five years? What are our customers worrying about today? What will concern them tomorrow? Where are we failing to communicate? Are we capitalizing on all our strengths? What opportunities are we missing?
When learning, there are times in which you are focused and times in which you allow your mind to wander. Both modes are valuable to allow your brain to learn something.
Take regular break...
The goal is to learn each concept in a way that they each become like a well-known puzzle piece.
In order to master a concept, you not only need to know it but also to know how it fits into the bigger picture.
Instead of highlighting or underlining, rather take brief notes that summarize keys concepts.