The O-ring theory of economic development - Revision history

Philip Lacey at 10:13, 29 December 2016

2016-12-29T10:13:18Z

Philip Lacey at 10:11, 29 December 2016

2016-12-29T10:11:24Z

Philip Lacey at 10:10, 29 December 2016

2016-12-29T10:10:12Z

Philip Lacey: Created page with "Michael Kremer in 1993 put forward an economic theory which still applies today. [https://en.wikipedia.org/wiki/O-ring_theory_of_economic_development Wiki article] {{#ev:yo..."

2016-12-29T10:08:48Z

Created page with "Michael Kremer in 1993 put forward an economic theory which still applies today. [https://en.wikipedia.org/wiki/O-ring_theory_of_economic_development Wiki article] {{#ev:yo..."

New page

Michael Kremer in 1993 put forward an economic theory which still applies today.
[https://en.wikipedia.org/wiki/O-ring_theory_of_economic_development Wiki article]

{{#ev:youtube|https://www.youtube.com/watch?v=hK7mjihLIZ8}}

''The O-ring production function conceives of the work as a series of interlocking steps, links in a chain. Every one of those links must hold for the mission to succeed. If any of them fails, the mission, or the product or the service, comes crashing down. This precarious situation has a surprisingly positive implication, which is that improvements in the reliability of any one link in the chain increases the value of improving any of the other links. Concretely, if most of the links are brittle and prone to breakage, the fact that your link is not that reliable is not that important. Probably something else will break anyway. But as all the other links become robust and reliable, the importance of your link becomes more essential. In the limit, everything depends upon it. The reason the O-ring was critical to space shuttle Challenger is because everything else worked perfectly.''

[https://www.ted.com/talks/david_autor_why_are_there_still_so_many_jobs/transcript?language=en#t-103180 Link to Transcript]

So when you're planning your solution let bxp afford you the time to focus on your o-ring challenges and we'll work perfectly for all the parts you put us to work on.

Let us know your challenge and we'll provide you the solutions. Give us a call on +353 1 429 4000 or email us at solutions@bxpsoftware.com

[[Category:Topic:General Knowledge]]

← Older revision		Revision as of 10:13, 29 December 2016
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−	So when you're planning your solution let bxp afford you the time to focus on your o-ring challenges and we'll work perfectly for all the parts you put us to work on.	+	Over the last decade numerous blue chip companies have trusted bxp to deliver large swathes of their solutions. So when you're planning your solution let bxp afford you the time to focus on your o-ring challenges and we'll work perfectly for all the parts you put us to work on.

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	{{#ev:youtube\|https://www.youtube.com/watch?v=LCxcnUrokJo}}		{{#ev:youtube\|https://www.youtube.com/watch?v=LCxcnUrokJo}}
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		+	[https://www.ted.com/talks/david_autor_why_are_there_still_so_many_jobs Link to the Ted Talk]

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−	{{#ev:youtube\|https://www.youtube.com/watch?v=~~hK7mjihLIZ8~~}}	+	{{#ev:youtube\|https://www.youtube.com/watch?v=LCxcnUrokJo}}