All posts by John Psarouthakis

drjohn11aDr. John Psarouthakis, Executive Editor of www.BusinessThinker.com, Distinguished Visiting Fellow at the Institute of Advanced Studies in the Humanities, University of Edinburgh, Scotland, publisher of www.GavdosPress.com and Founder and former CEO, JP Industries, Inc., a Fortune 500 industrial corporation

Some Good News About The COVID-19 Pandemic

Email by Peter Diamandis
Greek American engineer, physician, and entrepreneur best known for being founder and chairman of the X Prize Foundation,  co-founder and executive chairman of Singularity University and coauthor of The New York Times bestsellers Abundance: The Future Is Better Than You Think and BOLD: How to Go Big, Create Wealth, and Impact the World. He is former CEO and cofounder of the Zero Gravity Corporation, cofounder and vice chairman of Space Adventures Ltd., founder and chairman of the Rocket Racing League, cofounder of the International Space University, cofounder of Planetary Resources, founder of Students for the Exploration and Development of Space, vice chairman and cofounder of Human Longevity, Inc.[2]

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Here is an email sent to me with encouraging news on the Coronavirus pandemic. This information is entirely Dr. Diamandis’ content sent to me and I thought it to be of interest to the visitors / readers of the Business Thinker, LLC .

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How about some good news for a change?

There have been A LOT of facts going around regarding COVID-19, and a flurry of “positive news” items to lift our spirits.

Here are a number of major victories from the Pandemic line. I’ve had my team fact-check these wins with links you can follow up on.

Continue reading Some Good News About The COVID-19 Pandemic

An Economic Model

Dr. John Psarouthakis
Executive Editor

This is the introduction of a paper of mine published in a related journal that I will post in the Business Thinker when that can be done. The title of this article is “An Economic Model of Government Expenditures and Economic Development” The journal is Economics and Finance Notes.

The economy is a complex system in which firms, households  and government interact to determine the process of wealth creation and,ultimately, the economic well-being of the nation. Economic theory has traditionally focused on the analysis of each subsystem (firms, households and government), however it has created a high controversy in the study of the complete system behavior, as well as the relevant role of the government in the macroeconomic context. Despite this controversy, firms and governments share certain objectives. Both are social organizations created to add value for stakeholders and voters through, at least, reducing transaction costs in the economy.

Poor performance of governments tend to generate negative externalities for the economy (or higher transaction costs) that are reflected in macroeconomic variables such as output, involuntary unemployment, slowdown of profitability and capital creation and/or utilization, and increase in inflation. In other words, the economic performance of the overall system depends significantly on the government involvement needed to reduce transaction costs given the characteristics of the economy.

Continue reading An Economic Model

Chinese Cultural Values

Dr. John Psarouthakis

Executive Editor

 

On the Power Distance dimension-Confucian Ethics

This is a short summary of a  report of research conducted by
JP Management Center, LLC.

Chinese society is seen by the Chinese as composed of people who are inherently unequal in rank and standing, and differences in rank are signaled and reinforced by the style of the interaction between the parties involved. As a visiting foreign business professional, you will be respected and shown deference, and in turn you will be expected to show deference and formality, especially in your relationships with Chinese who are superior in rank to you within their own organizations.

Continue reading Chinese Cultural Values

Human Resources for Manufacturing of the Future

Dr. John Psarouthakis

Executive Editor

There is tendency on the part of too many manufacturing professionals, as well as manufacturing scholars, to look at the enterprise as a simple combination of capital, management, and labor, while usually looking at labor as some commodity that can be bought and sold, easily obtained, and of little concern for our immediate or long-term future. Such an assumption is a grave error given the current and foreseeable human resources of U.S. manufacturing. There are several aspects to this general problem. One is the training and skills level of the existing workforce.

Conducting a survey of manufacturing employees as to what they need to do a better job the response invariably is: training of technical staff, operators, and supervisors.

Continue reading Human Resources for Manufacturing of the Future

The Development and Deployment of Technology


Dr. John Psarouthakis

Executive Editor

Technology development and deployment are important because manufacturing has become a technologically-driven endeavor. Our ability to compete in manufacturing is dependent upon the quality and the sophistication of our human resources, manufacturing facilities and equipment. In the recent past, we allowed our manufacturing equipment and facilities to deteriorate relative to our foreign competitors.

It is indeed a bitter pill to swallow that the U.S. was failing in the development and commercialization of new manufacturing technologies. As the recent Nobel Prize awards attest, our scientific base is still unparalleled in the world. We have the support of the Federal government and the strength and vitality of universities to thank for this state of affairs. We also have a strong and vital network of federal labs and a distinguished groups of not-for-profit R&D facilities contributing to the nations store of knowledge. Even with this scientific base, however, we have not learned to master yet the” art of knowledge utilization and technology transfer. In effect, the scientific knowledge produced by our universities and labs has benefited other nations, at least as much, and arguably more, than it has helped us in the recent past but it seems to be correcting.

Continue reading The Development and Deployment of Technology

Humanities, Arts and Social Sciences

Dr. John Psarouthakis

Executive Editor

The role of the humanities, arts, and social sciences has expanded in recognition that these are essential intellectual and cultural components of the creative spirit and ethos of education and scholarship at universities and particularly at technological institutes such as MIT. The humanities and social science faculty have played leadership roles in extending the global reach of many of the programs and in broadening the perspectives and expertise needed to engineer, manage, and set policy. MIT’s world-renowned strengths in economics and linguistics continues to build and evolve. Writing and the performing arts have continually expanded their importance and, in addition, have played a notable role in developing an appreciation of the role of diversity in living and learning. The visual arts have evolved in new directions and have expanded their strength and centrality in our institutions.

Continue reading Humanities, Arts and Social Sciences

Real Participative Management


Dr. John Psarouthakis

Executive Editor.

Well, we have applied the “Better Makes Us Best” philosophy in JP Industries and the rewards were substantial. I would like to describe a few of our success stories.

I will begin by telling you what happened, as an example,  at one of the plants.

The plant manager decided there was a need for change – to meet the demands of the marketplace and remain competitive. We provided him with opportunities to review alternatives and he eventually selected a program the plant now called “Real Participative Management” – or RPM, which is rather apt in the Transportation Products industry.

Continue reading Real Participative Management

Apply new technology to old manufacturing


Dr. John Psarouthakis

Executive Editor

My goal IN BETTER MAKES US BEST (see previous article) was to apply new technology to old manufacturing processes, to transform underperforming companies into profitable ventures. Some of the underperforming companies we acquired were in danger of losing supplier status with their customers.

You can provide machinery and technology but if you lack employee commitment the formula won’t work. The buildings, the machines, don’t really do much unless people have the motivation, the desire and the know-how to do a good job. They turn it around. We provide leadership and creative management.

I wrote and published a book, describing the “Better Makes Us Best” philosophy, which was distributed free of cost to all of our employees – over 7,000 people at the time.

Continue reading Apply new technology to old manufacturing

How do we achieve a skilled workforce that is dedicated and committed?


Dr. John Psarouthakis

Executive Editor

How do we achieve a skilled workforce that is dedicated and committed?

That will seek to eliminate inefficiencies.

That will be flexible in the face of rapid product changeovers?

That will be open to new ways of doing things.

That will renew America’s reputation for quality.

I cannot generalize about what everyone should do. But I can tell you about what has worked for me – and showed great promise for the future.

Continue reading How do we achieve a skilled workforce that is dedicated and committed?

Key dominant technologies in the 21st century era.


Dr. John Psarouthakis

Executive Editor

Here is a list of Key technologies to become dominant as we look ahead.

•wireless networks

•all-optical networks

•intelligent software

•high-speed rail

•new spacecraft concepts

•gene therapy

•artificial organs

•self-assembling materials

•microscopic machinery

•high-temperature superconductivity

•industrial ecology

•sustainable agriculture

•the information economy.

will shape the longevity and the quality of life we will have.