Showing posts with label Planning. Show all posts
Showing posts with label Planning. Show all posts

November 22, 2016

Good IT Gone Bad

So over and over again, good IT goes bad in a flawed decision-making process. 

Even with the best laid plans and governance processes in place, somehow decisions get politicized, go bad, and projects fail. 

Here are some of the popular reasons why this happens:

1) Someone has something to prove - Often their is a person incoming to power who wants to show off what they can do. Instead of focusing on what is best for the organization's mission and people, they put themselves first. IT becomes not a tool for efficiency and effectiveness, but rather as some project rushed through for someone's resume and narcissist career progression. Time to add another notch on your IT belt!

2) Someone used it, saw it, or heard of it someplace else - So why follow a structured decision-making and vetting process for new technology, when Joe Schmoe already has the answer of what we can use and what we should do. Perhaps, Joe Schmoe used the technology in another place and for another reason, but that's what he knows and instantaneously, he's the maven, subject matter expert. Or maybe, Joe Schmoe attended a vendor conference or read a trade mag on the airplane and now he is guess what, the all-knowing on the topic. Get ready to pull out your wallets to pay for the wrong thing for your needs and organization, but it's okay becuase Joe Schmoe assured you it's great!

3) Someone wants to use technology like a Swiss army utility knife - Let's just buy this amazing tool; it can slice, dice, chop, mince, or Julienne; actually there is nothing this IT tool can't do. Buy it and use it for all your technology projects and needs. Why buy specialized tools, when you can have one that does everything--it will be your data warehouse, cloud provider, handle all your transactions, and be your artificial intelligence all in one.  Don't worry about the complexity, integration, training, support or how good it does any specific thing--just trust us!

In general, it shouldn't be so easy for leadership to get sold and fooled by the wrong people with the wrong agendas. Yet, these things seem to take off like a speeding locomotive, and if anyone tries to step in front of it, career splat for some unfortunate well-meaning character!

Some leaders and organizations only seem to learn by making the same IT mistakes again and again--it's costly to their mission and to their stakeholders, but someone is making out like a bandit and it's on their dime. ;-)

(Source Photo: Andy Blumenthal)
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October 11, 2016

On the Lookout To Managing Risk

So risk management is one of the most important skills for leadership. 

Risk is a function of threats, vulnerabilities, probabilities, and countermeasures. 

If we don't manage risk by mitigating it, avoiding it, accepting it, or transferring it, we "risk" being overcome by the potentially catastrophic losses from it.

My father used to teach me when it comes to managing the risks in this world that "You can't have enough eyes!"

And that, "If you don't open your eyes, you open your wallet."

This is a truly good sound advice when it comes to risk management and I still follow it today. 

Essentially, it is always critical to have a backup or backout plan for contingencies.

Plan A, B, and C keeps us from being left in the proverbial dark when faced with challenge and crisis. 

In enterprise architecture, I often teach of how if you fail to plan, you might as well plan to fail. 

This is truth--so keep your eyes wide open and manage risks and not just hide your head in the sand of endless and foolhardy optimism for dummies. ;-)

(Source Photo: Andy Blumenthal)
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August 24, 2016

Crazy World Of Work

This was a funny sign. 

"You don't have to be crazy to work here.
We'll train you."

Isn't that the truth too often. 

Work can frequently be like "Crazy World!" 

This is a place where there is a convergence of dysfunctional organizational culture, poor leadership, a lack of solid processes and sound planning, and plenty of wacky naysayers and obstructionists who together can bring the workplace to a virtual standstill or even a bitter downfall. 

Yeah, we will train you to do what?

- Follow some dusty and archaic, nonsensical policies that haven't been updated in 20 years.

- Force you into a mold of robotic groupthinkers who have abandoned any notion of exploration, discovery, innovation, and constructive change. 

- Do the minimum to get their paychecks, while staying off the grid and out of trouble, rather than satisfy in serving the mission and delighting their customers. 

This is perhaps why leaders frequently tout their credentials in transforming organizations, yet we still see endless legacies mired in status quo and a lack of any real results and progress. 

Lots of people talk the talk, but very few walk the walk, and that's because we've trained them so well to work here. ;-)

(Source Photo: Andy Blumenthal)
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July 31, 2016

What Is The Creative Process and Success?


One of my colleagues at work had this hanging on his wall. 

It caught my eye and I thought it was worth sharing.

The creative process (ah, not my style of working, however--I am too much of a planner and worrier): 

1) Work Begins - It starts with, "I have a bright idea" or a "go do" from some other genius. 

2) F*ck Off - Then comes some procrastination and maybe thought process about what you are going to do, but in the meantime, everyone leave me alone to percolate and brew. 

3) Panic - Of sh*t, time is running out, and where the h*ck am I on this project, better get my a*s in gear. 

4) All the work while crying - Hurry, hurry, hurry and get it done. Wa, I feel like such a crybaby and wreck, but I'm going to finish it, I am. 

5) Deadline - Made it by a hair...uh, the whole thing was easy, for me, as pie!

Another thing that I heard this week is that "success is failing to fail."  

Think about that a minute.  ;-)

(Source Photo: here with attribution to Toothpaste for Dinner)
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April 8, 2016

Help Is Coming

So I used to have a boss who said something really funny.

He used to go, "Everybody says they want to help us" and then bemoaningly he would seem to repeat that a few times. 

The next part which he didn't need to explicitly say was that "But no one does!"

It was the words, but also much the tone--yes, the walls could be caving in, the ship could be sinking, everything going up in flames, and of course, everyone is there looking on, shaking their heads pitifully, and seemingly stretching out their hand in an offer of help. 

For this boss though, the help couldn't come fast enough or with enough resources to help resolve all the issues going on at the time. 

I suppose first and foremost, we have to help ourselves. 

Secondly, there needs to be a core understanding from the beginning of what is really doable and what is simply fantasy fare. 

Third, if help is on the way--great, but it's got to be timely enough and come with enough raw horsepower to make a genuine difference. 

Finally, sometimes miracles do happen and everything works out great--the day is saved--but even then so much underlying damage has been done that you need to rebuild from the core foundations again. 

And for the next time, you'll need to ensure capabilities beyond what was ever imagined before. ;-)

(Source Photo: Andy Blumenthal)
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March 22, 2016

Stop To Think OR Stop Thinking

The Thinker.

It's very important to have time (and space) to sit down and think. 

Not just go through life in the motions--"doing"--because that's the way we always did it or that's the way your parents did it, or that's what your teachers or society told you to do. 

Thinking means we evaluate and assess what we are doing.  Are we going in the right direction?  Are we happy with ourselves?  Are we good people doing good things?  Are there things that we regret and need to learn from and/or course correct. Can we do better and what does better mean? 

I remember at a certain point in my life working very hard, but also feeling like I was in a fugue--and when I "awoke" I couldn't figure out where the time went to and why I had been sort of numb for a time. Were some things perhaps too raw or painful to deal with (better to shut them off somewhere in a little box) or was I just moving so fast and so hard that I just lost sight of my surroundings and the meaning or lack from it all. 

But then I started to feel and think again. And I knew it because it was like an monumental awakening from a long hibernation through eons of time and space. What precipitated it all, I don't really know. But when it started coming back--memories, feelings, some satisfactions, too many regrets--I knew that I had been gone a while and wasn't sure exactly where I'd been. 

So need to regularly stop and "smell the coffee"--think and feel--not just do like a real dummy or stubborn a*s. 

The dilemma with thinking is too much or too little is that it can be a dangerous thing. 

Too much time to ponder and you can become lost in thought or mired in analysis paralysis. Don't bother me, I'm still thinking about it. Or perhaps, your thinking can be "all wrong" and messed up--your misunderstanding, misconstruing, not thinking clearly or brainwashed by others--maybe those with good intentions who want you to be like them, who think they know better, who mean well but are misguided when it comes to YOU or are engulfed by their own zealousness, self-righteousness or are even jerks trying to f*ck with you. 

Also, while ample time to think can leave you revitalized, with new direction, commitment, and enthusiasm, the flip side is you can become demoralized or depressed by "it all," It's too much, it's too hard, it's too meaningless, or even it's too overwhelming important and meaningful. 

Then there is too little thinking going on in that head of yours, and you are a dumb, numb robot who washes, rinses, repeats...not knowing why they are doing it or maybe even that they are doing anything, just that they are in a state of being. It easy maybe to turn off to the world, to keep running on the treadmill of life, get up and do the same routine day-in and day-out.  Not questioning.  Not feeling.  Not getting hurt or dealing with issues better left for another day. But that's not living. That's a life of a sick roaming flesh-eating zombie. Someone just stick that iron rod through that useless skull already. 

Think and live...live and think...go forward as in a directed, meaningful way, and not as the walking dead in pain and sorrow or lost in the abyss of lifelessness. ;-)

(Source Photo: Andy Blumenthal)
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January 11, 2016

Powerball Powers Past

I suppose the makers of the Powerball lottery never envisioned a $1.3 billion jackpot. 

As you can see the sign only goes up to $999 million. 

Yeah, stupid planning from the people that run the odds (where winning is 1 in 292 million), but they can't figure the odds of the lottery going this high, ever.

Anyway, win it or lose it, someone stands to walk way with a lump-sum payment of $806 million, and after federal, state, and local taxes you're looking at maybe half or less of that. 

Either way, not a bad take-away from a $2 lottery ticket. 

Lots of needy people to help and good deeds to do. ;-)

(Source Photo: Andy Blumenthal)
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November 10, 2015

The Unsustainable U.S. Economy

The U.S. National Debt often touted at an enormous $18 trillion is really more than 3 times that amount and closer to a whopping $65 trillion!

That's when you actually count all the unfunded liabilities for civilian and military pensions, retiree healthcare, social security, and medicare.

For each of the 318.9 million people of that United States, it mean $203,826 of debt or for a family of four that's a debt of $815,303.

Put another way, the entire net worth of Americans is $84.9 trillion, but after subtracting the debt of $65 trillion, it drops to just about $20 trillion--coincidentally around the amount of our new debt ceiling.

Moreover, with the richest 1% owning more than 50% of the wealth by 2016 that leave only $10 trillion or $31,675 for each of us--not so hoity toity for 239 years of independence and founding as a nation or all the blood, sweat, and tears we put in every day of our lives.

In terms of our escalating debt, just this last year alone, social security spending went up to $944,143,000,000 or the equivalent of $6,345 for every American with a job. and this is projected to dramatically rise with the retirements of the baby boomers.

Projections are for social security to exhaust its funds by 2035, which could result in across the board 20% or more cuts in benefits of the already meager program where many seniors end up eating cat food.

Additionally, the retirement age already set to go to 67 by 2027 could be forced to go even higher, and social security would likely be curtailed or eliminated entirely above certain income levels.

Is this the financial security and brighter future we are leaving our children and grandchildren?

We can kick the can down the road, but the unsustainability of it all will eventually come back to haunt us. ;-)

(Source Photo: here with attribution to Pictures of Money)
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April 13, 2015

| Go With A Winning Strategy |

So there was an office discussion the other day about something having a "checkered past."

And one of my colleagues said wisely about it, "I rather play chess!"

I though it was a smart retort, since chess is a game of strategy versus checkers, which is more a game of luck. 

Checkers is by far the more one-dimensional game with each piece moving or jumping in a similar fashion, while in chess, you deploy specific types of pieces (king, queen, rook, bishop, night, or pawn) for different manuevers. 

In life, when we deal with things that are especially challenging, double-edged, tricky, or plain dangerous, we need to handle it with a well-thought-out game plan and a solid strategy.

Having a plan and maintaining agility in dealing with the "facts on the ground" as they unfold is by far the better problem-solving approach than just trying to jump over the other guys pieces or block his next move. 

Chess in the only way to get to checkmate ;-)

(Source Photo: here with attribution to Florls Looijesteijn)
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November 18, 2014

Give 'Em A Choice

This is a funny sign from Germany for exiting...you can go this way or that.

I guess that's a choice...even if they both take you to the same place.

It's like my dad said to me the other day, "Give 'em a choice: take it or leave it!"

It's true--we can choose--and if leave it, then we have another choice, "Walk away or run!" ;-)

(Source Photo: here with attribution to Martin Fisch)
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July 20, 2014

Better Early Than Never

So I learned a new word/concept today...PREcrastination (New York Times)

It's when you do things early!


The better known opposite word is PROcrastintion.



That's when you put things off or delay...often until the very last minute.

We know why people procrastinate--they don't want or like to do something, have more important things to do, may be overwhelmed with too many taskers, or perhaps they are just plain lazy. 


But why do people precrastinate?


Well, it's sort of the inverse of the above--they may like doing it, it may be a priority, or they just may want to get "ahead of the curve" on all the things they have on their to-dos, or they may be a Type A personality and don't rest until they've "got a handle on things."


Getting things done at the last minute (procrastination), can push off stress until later--perhaps a better time to deal with it, but getting it done early (precrastination), can help eliminate stress by just getting it over with. 


Some of us who get things done right away, may be doing extra work, because at times, the necessity of the moment is "overcome by events" (OBE) later on or we may start something before we even have all the directions or information and do it wrong altogether. 


While others who dilly-dally, may find that they waited too long to get the job done or have other things going on later that precludes them from meeting the timeline--as they say, "if you fail to plan, plan to fail!"


Is there a right or wrong in terms of Pre/Procrastination?


I want to tell you now, but I think I'll wait until later. ;-)


(Source Photo: Andy Blumenthal)

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March 2, 2014

Restraint or Recklessness?

Like many of you, as I watch the events unfold with the Russian military invasion of Ukraine, I am amazed at the "restraint" being shown by the West. 

But I can't help asking myself why a military invasion by the Great Bear into a sovereign nation that is leaning toward democracy is being met with restraint.

Sitting in Starbucks, I overheard one young women saying to an older gentlemen that she did not understand the reaction of the President in saying there would be "consequences" and that no one took that seriously as there was no specificity, almost as if their where no real consequences to even threaten Russia with. 

So why all the word-mincing, dancing around the subject, and restraint by the West in light of this very dangerous escalation in eastern Europe:

1) Surprise - Was the West completely taken by surprise by Russia's military intervention? Didn't something similar happen with Georgia in 2008--less than 6 years ago? Did we not foresee the possibility of Russia lashing out against Ukraine to protect its interests when Ukraine turned back toward European integration and away from the embrace of Russia that it had made only weeks earlier? After Pearl Harbor, 9/11, and with all our "Big Data," intelligence, and military planning--how did we miss this (again!)? 

2) Duped - Were we duped by the misinformation from Russia saying that the 150,000 troops they called on a "training exercise" was planned months ago and it just happened to coincide with the toppling of Ukraine's President?  Also, were we fooled when the "mysterious" soldiers showed up without national markings and Russia said they weren't their military--uh, where did they come from--did they float down from the heavens?

3) Apathetic - Are we just apathetic to Ukraine's plight? Are they just a poor country of little strategic value to us? Are we so war weary from Iraq and Afghanistan that we just want to place our heads in the sand like ostriches even when democracy and freedom is threatened in a European nation of some 45 million people?

4) Fear - Are we afraid of the military might of the nuclear-armed Russian Federation? Is America, the European Union, NATO, the United Nations all not willing to stand up and hold Russia accountable even if that means a military confrontation? Not that anyone wants World War III, but if we don't stand up and defend against wanton aggression, how can any country or anyone be safe going forward? 

5) Optionless - Are we just out of options? Russia got the upper hand on this one and they are logistically right there on the border and in the country of Ukraine now and what can we do? Despite the U.S. assertion that it can project military power anywhere around the world and a defense budget bigger than the 10 next largest combined--how can we be out of options? Are we out of options because we tacitly understand that one wrong miscalculation and we could end up with WMD on our homeland doorstep? 

6) Butter Over Guns - Have we retrenched from world affairs, downsized our military, and emphasized domestic issues over international ones? Have we forgotten the risk that comes from a world without a superpower that helps to maintain stability and peace? Are we just under so much financial duress with a growing mountain of national debt, a economic recovery still struggling, and the lowest employment participation in over 30 years that we can't even entertain spending more treasure to fight again? 

7) Leadership - Who is managing the crisis? We've seen our President speak, various other government officials from the U.S. and European Union, the Secretary General of the U.N., the Secretary General of NATO, and more?  Who is in charge--setting the tone--deciding the strategy? Who has point so that we and Russia know who to listen to and what is just background noise? 

What is so scary about this whole thing is how quickly things can escalate and seriously get out of control in this world, and this despite all the alliances, planning, and spending--at the end of the day, it looks like we are floundering and are in chaos, while Russia is advancing on multiples fronts in Ukraine and elsewhere with supporting dangerous regimes in Syria, Iran, North Korea and more. 

Whether we should or shouldn't get involved militarily, what is shocking is: 1) the very notion that there wouldn't be any good military options, and 2) that the consequences are not being spelled out with speed and clarity. 

In the streets, at the cafe, on the television, I am seeing and hearing people in shock at what is happening and what we are and are not doing about it. 

Even if we get Russia to stop advancing (yes, based on what happened with Georgia, I doubt they will actually pull back out), the question is what happens the next time there is a conflict based on how we've managed this one? 

I do want to mention one other thing, which is while I feel empathy for the plight of the Ukrainians seeking their freedom from Russia now, I also must remember the events of Babi Yar where, between 1941-1944, 900,000 Jews were murdered in the Soviet Union by Nazi genocide and Ukrainian collaborators. This is history, but not so long ago. 

All opinions my own. 

(Source Photo: here with attribution to Utenriksdept)
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February 13, 2014

Who Do You Want To Be?

Walking through the halls of one of the local schools, there was this awesome display of cutout hands. 

Each hand, done by a student, was supposed to represent who they wanted to be as people. 

In the center of each was a core saying/belief of the student written on the palm.

And then on each of the five fingers was their personal aspirations:

Emotionally
Physically
Socially
Intellectually
Spiritually

I thought this was a really cool assignment to think and focus on where we're going with our lives and what our personal goals are. 

Like a mini-personal architecture, these hands are the hands of our young people who have their lives ahead of them and the energy and opportunity to shape their futures. 

No, none of us has control over the future, but we can do our part to shape who we are as human beings, as this student says: 

"I am who I want to be."

Of course, we have to choose wisely, work hard, and go for it! 

We never know if there are any true second chances.  ;-)

(Source Photo: Andy Blumenthal)
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November 7, 2013

The Difference Between Planning and Reality

Wow, I really love this graphic.

The top are our plans, along with our hopes and dreams that we get to where we want to, in a basically smooth, straight line--no troubles, no fuss--whoola success!


The bottom is our reality, where we work our way towards our target goals (which we may, or more likely not, ever fully achieve) and that along the way, we encounter all sort of life's tests and challenges--it's an uphill climb, but with tangible achievements and milestones, as we progress. 


If it was as easy as the top--it probably wouldn't be worth doing. 


The challenges test our mettle--and what doesn't kill us, makes us stronger. 


Even so, sure wish I could get some wings and jets on that bicycle. ;-)


Thank you sis for sharing this with me.


(Source Photo: here from DogHouseDiaries)

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October 11, 2013

The G-d Watch - Live With The End In Mind


I used to have this manager who was within a couple of years of retirement.

She kept a jar of beans on her desk. 

Each bean represented one day of work. 

And every day, she would take one bean out of the jar. 

This was her way of counting down to the end of her career (and the beginning of her retirement).

Anyway, trust me when I say, that we were counting down too--even without the beans. :-)

At work, some people may even say of someone just hanging on or just hanging-out waiting to retire that they are Retired In Place (RIP)--a pun, on rest in peace. 

Uh, not funny, but when people know the end is coming (either for career or their life), they often change their behavior--they focus on what what's coming next. 

With the end of career, perhaps they are imaging sunny skies, palm trees, and margaritas in retirement.

And with end of life, people are often thinking about judgement day--and how they spent their lives: in love or hate, purposeful or without direction, doing good or taking advantage.

So it's very interesting to me how this company, Tikker (funny name, as a watch often makes the sound tick-tock, but also a person's heart is referred to as a ticker), developed a watch (the Death Watch) that not only provides the time, but actually counts down--years, months, days, and even hours, minutes, and seconds--not that they can be so precise--to your expected death. 

The watch is supposed to give people new perspective and encourage them to live a better life.

Someone who is going to purchase the watch fills out a questionnaire with information on family health history, age gender, and race, and then they get their estimated date of death, for the countdown! 

With the DOD (date of death), we now know what we are dealing with--for better or worse--and of course, subject to change, by the One Above.

But like the boss looking to retirement who took out a bean a day from the jar, we too can look towards our own mortality--not in a sad way, but in a fundamental human way--one that guides us, with the end in mind, to make better decisions for the time we have in life. 

Despite, what almost every young person seems to believe, we are not immortal--and the stupid things we do when we are young or throughout of lives comes back to haunt us (whether smoking, drinking, overeating, or other bad stuff). 

And so we must choose to live every moment, not as if we have forever, but rather with purpose, passion, and poetry--until the clock runs out on all of us, as it inevitably will.
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September 1, 2013

Do You Really Want As-Is?

Classic enterprise architecture is figuring out how to move from the current/as-is state to the target/to-be state. 

Generally, anything "as-is" is viewed as legacy, old hat, probably not in the best condition anymore--and it's going without any implied warranties or guarantees as to it's condition.

Hence, at the local IKEA store, when I saw the "as-is" section for 50% off, I was like hey that's right, the "as-is" is good if we want a bargain, but there is usually something wrong with it, and that's why "all sales are final". 

If we want "the good stuff," you don't generally go to the "as-is," but you want to buy stuff for the "to-be," the target state, that you want your place to look like or what you really want to have--and guess what--that is full price!

You can architect your enterprise, yourself, or society for the momentary as-is--but is doesn't last long, because it's outdated, shabby, worn, and maybe even missing some critical parts already. 

That's why you want to architect for the future--for the to-be--with all the working parts, new and shinny, and geared to tackle the market conditions with innovation, functional strength and a design that is ready to turn heads. 

You can save money staying with the as-is, but you'll be getting what you paid for and will be falling behind for another cycle--if you survive. ;-)

(Source Photo: Andy Blumenthal)
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June 6, 2013

Charting Your Course


New article here by Andy Blumenthal in Public CIO Magazine called "Using Enterprise and Personal Architecture To Chart Your Course." 

"As a leader, one of your primary jobs is to bring a coherent, rousing vision and strategy to the organization and execute it to keep the organization relevant -- that is enterprise architecture."

Hope you enjoy!

Andy

(Source Photo: Andy Blumenthal)
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March 30, 2013

Planning For The Next Big One

I saw the movie Olympus Has Fallen, where the North Koreans attack the White House and take the President and the National Security Council hostage. 

While the acting was a "B" at best, the creativity of the attack and the action was an "A".

The attack begins with a stolen Air Force modified AC-130 with side-mounted Gatling guns unleashing hell on the streets of Washington, D.C. and the White House, followed by suicide bombers creating a breach in the gates, RPG's blowing up the security towers, 40 commandos storming though, and more Gatling guns hidden in the sides of two garbage trucks taking out our finest, the Secret Service agents that protect it. 

There is plenty of subterfuge as the North Koreans posing as the security detail for the South Korean leader visiting at the White House make their way into the Presidential bunker, and there's even a countdown to a potential nuclear holocaust by detonation of our own Inter-Continental Ballistic Missiles (ICBMs) in their silos by the terrorists.

It was so upsetting to see the Secret Service agents overwhelmed by the North Korean's vicious attack--being literally mowed down trying to protect the President and White House. It was also wrenching to see them throw the American Flag from off the White House, as well as terrorize and nearly kill the President, Vice President, and Secretary of Defense in order to get the codes to access our nuclear missiles to shut them down and then blow them up. 

There is a saying that "Generals are always trying to fight the last war," and this is the feeling you get when you see this brazen dastardly attack on the central pillar of our political power base--where we are taken by surprise and the White House and President are held in foreign hands on our own soil. 

These types of movies are great action, but also a wake-up call to our security professionals to think out of the box---yes, even like Hollywood--about what such a creative attack could look like. 

I remember after 9/11, when everybody seemed to be saying that no one could've ever imagined something like this happening to us with airplanes being used as weapons, yet the movie "Executive Decision" with Kurt Russell in 1996 posed just such a scenario with an airplane loaded with a bomb and poison gas hurtling towards the east coast. 

Years ago, as robotics and drones started to take anchor, I wondered out loud how prepared we were for armored robot(s) or commandos in robotic exoskeletons making just such a brazen attack. 

Science fiction today is real threats of tomorrow. We may not be there just yet, but how creative are we in really thinking and planning for the next big ugly surprise. 

I say get out your most outrageous thinking caps and let your mind run wild with the worst scenarios you can imagine, and then figure out what you will do about it--rather than waiting for the bad guys to figure it out for you! ;-)
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January 4, 2013

Have It When You Need it


At an event that I attended recently, I heard a young woman explain her philosophy on life. 

She said, her grandmother taught her: "Better to have it and not need it, than need it and not have it."

Thinking about it at the time, it seemed pretty wise--because you never want to be without something you really need. 

And good planning and survival skills say to always be prepared--you never know what happens. 

But then with the fiscal cliff and all the talk about social entitlements, I started to think about this some more. 

In a sense, as a society, we have come to think of social entitlements as something that we better have in case we need it--Unemployment Insurance, Medicare, Social Security, Medicaid and more. 

You never know when it's your turn to get laid off, sick, old, or needy. 

And isn't that what's it for--it's a safety net--these are like personal insurance and you never want to need the coverage and not have it. 

But as we should know by now, having it--doesn't come for free. 

So the question is how much social entitlements or insurance do you need--and part of the answer is how much can you afford. 

So is it really better to have it and not need it, than need it and not have it--if you can't afford what you're buying?  

In this case, our grandparents and parents having it and not really needing all of it--may mean that we and our children will not be able to have it when we do need it. 

To have social entitlements, we need to be able to pay into the system for it or borrow to finance it. 

Unfortunately, as a nation we have been doing more borrowing, because we have spent beyond our national means--we have even raided our very own social entitlement programs that we hold so dear, to pay for other things--maybe that's why they call it a trust fund, because you really do have to trust, almost blindly, that there will be something there, when it's your time to need it. 

It's great to have it, but if we are gluttons and don't responsibly plan for genuine needs--then as a nation, we really will be left needing and not having it when the time comes.

In short, spend all your money to soon, and tragically, there won't be any candy later. ;-)

(Source Photo: Andy Blumenthal)

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December 14, 2012

See Yourself In The Future

Now seeing how you will look in the future is not just theoretical anymore. 

Merrill Edge (Merrill Lynch investing + Bank of America banking) has an online digital program that shows how you will look aged over time. 

They developed this as tool to encourage people to save more money for retirement by bringing home the message that you will not be young (and beautiful) forever. 

The Face Retirement tool asks for your age and gender, takes your picture, and then displays snapshots of how you will look over the course of your lifespan. 

I tried it and my smiling face was quickly tranformed into an old man with sagging skin, wrinkles, and more. 

My wife seeing those pictures says to me (even though we already save for retirement), "We better really start investing seriously for retirement!" -- gee, thanks! ;-)

And thanks Merrill Edge, you scared us straight(er) by looking at our own mortality, face-to-face. 

(Source Photo: here with attribution to Judy Baxter)

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