4-8 A giant leap for science

http://www.economist.com/printedition/2012-07-07

Shumpeter

No rush

In praise of procrastination（ぐずり癖）

Why I am interested in the article:

I am always distressed about my procrastination. I think I should decide and take actions more quickly than I did but I couldn’t. There are many books that propose how to make success by taking actions quickly. Time is money and you should save your time. Move as fast as you can. But the article claims different types of things as the title “No rush” implies. That’s why I am interested to this article 

What I want to discuss on the article:

What kinds of decisions or actions should we take more slowly?

Based on the suggestion, Japanese organizations are more ethical and more likely to do a right thing than other organization. How is your company?

What the Economist says in the article:

There is nothing like a deadline to focus in mind. Life is getting trickier for time westerners. Employers are getting better at squeezing out time wasting. Compensation(給与・報酬) is becoming more short-term. But is it wise to be so obsessed with speed? And is taking one’s time so bad?

There two (slowly savored) works of management theory: an obscure article in the Academy of Management Journal by Brian Gunia of Johns Hopkins University; and a popular new book, “Wait: The art and science of delay”, by Frank Partnoy of San Diego University. Their arguments are below:

(1) Mr Guina says that slowing down makes us more ethical. Companies should make greater use of “cooling-off periods” or introduce several levels of approval for important decisions. (ex: the current LOBOR scandal of Barclays)

(2) Mr Partnoy says that success depends on knowing when to delay, and for how long. (let’s see public speakers and comedians) The important thing is not to do things fast but to do them right. And doing them right often involves taking a bit more time. (ex: online dating website, Warren Buffett’s investment strategy ) People need to learn how to manage delay just as they learn how to manage everything else.

(3) They warn against business’s growing obsession with speed for its own sake and the notion that time can be sliced up into segments of equal worth. The secret of modern brain work is that it requires a combination of fast and slow.

Comments

This week's discussion was held in 6 people and we had various interesting topics from LIBOR, taxes, education and society and physical science. The members are enthusiastic and have a passion on their fields. Young people often feel nervous of their speed. We are impatient to do something important on our society but we feel we don't have enough power or our environment is too slow. This article pointed out the merit of slowing down. I think there are hidden histories for all the people who now have a good impact on the society. Take it easy, we are now in mysterious blank.