Indian stock markets were brimming with confidence over the past 5-6 days inspite of the apparently visible weakness in the Asian counterparts.
But the day has come for the Indian market to accept the fact that What goes up has to come down sometime!!
Luckily for me, I came out of the markets 2 days back and invested in bank FD which gives me 6%.
As I write this blog, NSE is down about 4.9%. God save the retail investors from the FIIs, Indian regulators and global meltdown.
Monday, December 17, 2007
Saturday, December 15, 2007
Jargon : CAT III ( Airlines Industry)
We have been reading a hell a lot of stuff about Airports in Delhi and northern part of India being affected because of fog and bad weather, making it very difficult to ground the aircraft and need for airlines with CAT III based instruments.
Did some research on CAT III and here I go with my findings:
From the basics of Aviation technology, for a flight to land, it has to take care of the vertical movement(technically lateral guidance provided by a device called localizer) as well as the angle at which it comes down(Vertical guidance provided by glidescope).The communication happens through the concept of frequency modulation taken care by the Localizer and glidescope.
Generally landing is supported by instruments of different categories CAT I,II,III. Classification is based on the decesion height at which the pilot has the freedom to land. To make it simple, let us say the airport is completely covered in fog and only at 50m height, you realise that you are going to collide on the ground. In this case, CAT I or CAT II doesnot help in saving the lives of passengers.You need a CAT III system.
"""Category I - A precision instrument approach and landing with a decision height not lower than 200 feet (61 m) above touchdown zone elevation and with either a visibility not less than 2,625 feet (800 m) or a runway visual range not less than 1,800 feet (550 m). An aircraft equipped with an Enhanced Flight Vision System may, under certain circumstances, continue an approach to CAT II minimums.
Category II - Category II operation: A precision instrument approach and landing with a decision height lower than 200 feet (61 m) above touchdown zone elevation but not lower than 100 feet (30 m), and a runway visual range not less than 1,150 feet (350 m).
Category III is further subdivided
Category III A - A precision instrument approach and landing with:
a) a decision height lower than 100 feet (30 m) above touchdown zone elevation, or no decision height; and
b) a runway visual range not less than 655 feet (200 m).
Category III B - A precision instrument approach and landing with:
a) a decision height lower than 50 feet (15 m) above touchdown zone elevation, or no decision height; and
b) a runway visual range less than 2,625 feet (800 m) but not less than 165 feet (50 m).
Category III C - A precision instrument approach and landing with no decision height and no runway visual range limitations. A Category III C system is capable of using an aircraft's autopilot to land the aircraft and can also provide guidance along the runway surface. """" -- excerpts from Wikipedia
Did some research on CAT III and here I go with my findings:
From the basics of Aviation technology, for a flight to land, it has to take care of the vertical movement(technically lateral guidance provided by a device called localizer) as well as the angle at which it comes down(Vertical guidance provided by glidescope).The communication happens through the concept of frequency modulation taken care by the Localizer and glidescope.
Generally landing is supported by instruments of different categories CAT I,II,III. Classification is based on the decesion height at which the pilot has the freedom to land. To make it simple, let us say the airport is completely covered in fog and only at 50m height, you realise that you are going to collide on the ground. In this case, CAT I or CAT II doesnot help in saving the lives of passengers.You need a CAT III system.
"""Category I - A precision instrument approach and landing with a decision height not lower than 200 feet (61 m) above touchdown zone elevation and with either a visibility not less than 2,625 feet (800 m) or a runway visual range not less than 1,800 feet (550 m). An aircraft equipped with an Enhanced Flight Vision System may, under certain circumstances, continue an approach to CAT II minimums.
Category II - Category II operation: A precision instrument approach and landing with a decision height lower than 200 feet (61 m) above touchdown zone elevation but not lower than 100 feet (30 m), and a runway visual range not less than 1,150 feet (350 m).
Category III is further subdivided
Category III A - A precision instrument approach and landing with:
a) a decision height lower than 100 feet (30 m) above touchdown zone elevation, or no decision height; and
b) a runway visual range not less than 655 feet (200 m).
Category III B - A precision instrument approach and landing with:
a) a decision height lower than 50 feet (15 m) above touchdown zone elevation, or no decision height; and
b) a runway visual range less than 2,625 feet (800 m) but not less than 165 feet (50 m).
Category III C - A precision instrument approach and landing with no decision height and no runway visual range limitations. A Category III C system is capable of using an aircraft's autopilot to land the aircraft and can also provide guidance along the runway surface. """" -- excerpts from Wikipedia
Book : The Power Laws
Richard Koch applies the laws of science to business in this excellent book. Heavy but very useful reading!
The most interesting aspect is the application of Darwin's evolution to the business context:
1) Out of the zillion number of species in the world, only those which can battle out with other species survive, gain momentum and multiply.
In the business context it can be said that out of thousands of companies/products, only those which can survive competition will evolve
2) Generalisation of species is followed by differentiation and again generalisation as differentiated species fight each other and the final winner survives
Business also works in the same way
3) Conditions of life determine which species survive similar to environment in business context
4) Natural selection contains lots a luck and randomness, so does the business
Fisher's fundamental theorem of evolution states " The average fitness of the population grows from generation to generation". If fisher has said this way back, what did Bruce Henderson from BCG invent?Experience curve!!
Ulam, a famous mathematician felt that mathematical theories don't really win based on objective merits, but as a result of blind competition. So, does Koch feel about Business!!
Gregor Mendel's law of segregation states that inherited traits are passed on direrctly by each parent without blending. He also explains about 'dominant' and 'recessive' traits.Finally he also says it is all pure luck as to what gets passed..... After some years, DNA(deoxyribonucleic acid) was found and described as a carries of factors or traits.So was the word 'genes' born. Is it only based on the genes getting passed on that the generations evolve?
Some one said it is a also because of memes
What are memes?
Memes are human inventions.Basic cultural transimission happens because of memes.
Having talked about genes and memes, let us now see how they are related to business?
Business genes are the building blocks of knowhow, of skills and technology.What is more important in the business context is the people and companies that act as vehicle for these business genes. Surprisingly the human beings are both the creators and vehicles for the business genes.
To be successful in business, you need not be the creator of ideas. Most people who become rich through business do so by using other people's ideas, not their own.
There are a lot of small companies that go bust every day. But Large companies are generally less likely to go bust. Why?
As per the natural selection, the species that survive for a longer time have evolved through a stiff competition and harsh environment. So, do large companies. But think of the near collapse of IBM and actual collapse of the Soviet Union. The primary reason being the vehicles carrying the genes(people)
Firms which outlive their usefulness are killed and at a rapid pace.
Inbreeding in organisations:
As per evolution, inbreeding results in passing a harmful allele(even if it is recessive) to the child because it is present in both parents. In organisations, the 'gene pool' is a combination of skills of people,contribution by suppliers and customers.If this is not sufficient enough to contribute considerably what do they do?
Simple they call the Consultants for change management implementation
Evolution requires continual experimentation and improvement. May be that's why Tata Motors has lots of Wingers in the market. Who knows which one of the ten will succeed?
During my school days, I always thought Biology is a dull subject but hats off to Koch for making it interesting to someone like me......
The most interesting aspect is the application of Darwin's evolution to the business context:
1) Out of the zillion number of species in the world, only those which can battle out with other species survive, gain momentum and multiply.
In the business context it can be said that out of thousands of companies/products, only those which can survive competition will evolve
2) Generalisation of species is followed by differentiation and again generalisation as differentiated species fight each other and the final winner survives
Business also works in the same way
3) Conditions of life determine which species survive similar to environment in business context
4) Natural selection contains lots a luck and randomness, so does the business
Fisher's fundamental theorem of evolution states " The average fitness of the population grows from generation to generation". If fisher has said this way back, what did Bruce Henderson from BCG invent?Experience curve!!
Ulam, a famous mathematician felt that mathematical theories don't really win based on objective merits, but as a result of blind competition. So, does Koch feel about Business!!
Gregor Mendel's law of segregation states that inherited traits are passed on direrctly by each parent without blending. He also explains about 'dominant' and 'recessive' traits.Finally he also says it is all pure luck as to what gets passed..... After some years, DNA(deoxyribonucleic acid) was found and described as a carries of factors or traits.So was the word 'genes' born. Is it only based on the genes getting passed on that the generations evolve?
Some one said it is a also because of memes
What are memes?
Memes are human inventions.Basic cultural transimission happens because of memes.
Having talked about genes and memes, let us now see how they are related to business?
Business genes are the building blocks of knowhow, of skills and technology.What is more important in the business context is the people and companies that act as vehicle for these business genes. Surprisingly the human beings are both the creators and vehicles for the business genes.
To be successful in business, you need not be the creator of ideas. Most people who become rich through business do so by using other people's ideas, not their own.
There are a lot of small companies that go bust every day. But Large companies are generally less likely to go bust. Why?
As per the natural selection, the species that survive for a longer time have evolved through a stiff competition and harsh environment. So, do large companies. But think of the near collapse of IBM and actual collapse of the Soviet Union. The primary reason being the vehicles carrying the genes(people)
Firms which outlive their usefulness are killed and at a rapid pace.
Inbreeding in organisations:
As per evolution, inbreeding results in passing a harmful allele(even if it is recessive) to the child because it is present in both parents. In organisations, the 'gene pool' is a combination of skills of people,contribution by suppliers and customers.If this is not sufficient enough to contribute considerably what do they do?
Simple they call the Consultants for change management implementation
Evolution requires continual experimentation and improvement. May be that's why Tata Motors has lots of Wingers in the market. Who knows which one of the ten will succeed?
During my school days, I always thought Biology is a dull subject but hats off to Koch for making it interesting to someone like me......
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