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Tag: Misconceptions

  • Entrepreneurship Misconceptions

    Entrepreneurship Misconceptions

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    Don’t let what others think about entrepreneurs hold you back from greatness,

    Misconception is a thought or opinion that is incorrect based on the faulty thinking or understanding of people. Here, we want to clarify some of the misconceptions in entrepreneurship.

    They work for money

    Entrepreneurship isn’t all about money, it’s about solving problems for people and love what they do. Also, it’s about creating a name for themselves and making a positive impact in the world.

    Money is also a way to do bigger and more exciting deals. The motivation of a new idea, and the risks involved have far more power to motivate the entrepreneurial spirit than money. In entrepreneurship, your business and success become an obsession not the money.

    They lack courage

    I’ve never seen anyone that is as courageous as an entrepreneur.

    It takes courage to forego the predictability of a corporate job, It takes courage to take the risk of failure, It takes courage to make your dreams into reality.

    And it takes courage, lots of it to hand over the reins when your startup grows beyond your ability to manage it.

    That’s why entrepreneurs are rightly the true heroes of our modern world.

    They are professionals

    Most successful entrepreneurs are not highly qualified fellows, but are success driven. Surprisingly, attending an elite university or higher education doesn’t provide a significant advantage in entrepreneurship. What matters is that the entrepreneur gains a degree; the choice of major or college doesn’t play a big role in success. However, the greater the education of the entrepreneur, the lower the rate of business failure and the higher the business’s profits, sales and employment.

    They sometimes have overnight success

    It may seem to you that entrepreneurs made the huge amount of money, but do you know that there is a lot of handwork before he made it.

    Overnight success is possible; entrepreneurs are inspired to start their own business by witnessing successful and established entrepreneurs. They study the success stories, the beginning of those success stories, which often includes massive struggle prior to the breakthroughs. As a matter of Fact, it takes years to become an overnight success in entrepreneurship!

    Many entrepreneurs needlessly worry that they haven’t perfected their ideas. No idea is ever perfect. When you have an idea, go ahead and build a prototype or two, tinker with what works, make refinements as necessary, but by all means get it out there! You can always improve on a good idea. Let the market help you improve.

    You don’t have to be a Harvard graduate to be an entrepreneur, but you do need to understand the characteristics of entrepreneurial. See you at the top!

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    Source by Femi Adefioye

    Views: 1

  • The truth about active management myths

    The truth about active management myths

    In this podcast, Senior Investment Strategist Chris Tidmore discusses active management insights and misconceptions.
    The truth about active management myths
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    https://investornews.vanguard/the-truth-about-active-management-myths/

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  • Podcast: Health care costs in retirement

    Podcast: Health care costs in retirement

    In this episode, Joel and Maria break down some common misconceptions and share practical, research-based tips to help you create a realistic budget.
    Podcast: Health care costs in retirement
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    https://investornews.vanguard/health-care-costs-in-retirement/

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  • Pregnancy and breastfeeding during an Ebola virus outbreak

    Pregnancy and breastfeeding during an Ebola virus outbreak

    Women who are pregnant or breastfeeding in an Ebola outbreak face similar challenges as other population groups, but they have specific health needs which must be met.

    As the second largest Ebola outbreak in history continues in the Democratic Republic of Congo, WHO has released new clinical guidelines for healthcare providers supporting pregnant or breastfeeding women in the context of Ebola virus disease.

    Improving clinical care and reducing mortality

    92-4-000138-1Clear and coherent guidance is needed to meet the combined needs of women requiring Ebola treatment, pregnancy care and management of complications.

    Information on how to protect breastfeeding children and other members in the community from transmission of the disease is also critical.

    Limited scientific evidence on how to best manage these needs has previously been a challenge for affected countries. In addition, misconceptions that pregnant women have a higher mortality rate than other populations with Ebola may in some contexts have put pregnant women at risk of not receiving standard care.

    WHO’s Guideline on the management of pregnant and breastfeeding women in the context of Ebola virus reviews existing evidence and provides a single set of recommendations on the care continuum for women exposed to, diagnosed with, or recovered from Ebola.

    This will enable healthcare providers, emergency response teams and health policy-makers to improve prevention and treatment measures in an Ebola outbreak.

    Obstetric care at an Ebola Treatment Centre

    Optimal supportive care should be offered to all pregnant women with Ebola. Likewise, they should be offered experimental treatment and vaccination under the same conditions as non-pregnant populations.

    Ebola virus disease does increase the risk of miscarriage and early labour, requiring close clinical management at Ebola treatment centres. It is important to engage both obstetric providers and those trained in Ebola response.

    This dual expertise is also important because early Ebola and pregnancy-related symptoms can overlap. Pregnant women should be prioritised for testing to confirm an Ebola infection.

    Ebola virus can persist in pregnancy related fluids as well as breastmilk. If healthcare providers are not clear on how to manage Ebola infection risk, they may be less willing to provide care. This stigma can be life-threatening for women who experience complications during delivery.

    The new WHO guidelines advise healthcare workers on how to protect themselves while caring for pregnant women with Ebola virus disease. This includes induced labour or surgical procedures, which carry greater risk of transmission in cases of acute infection. Any invasive treatments should be carried out in full personal protective equipment.

    Breastfeeding recommendations in an Ebola outbreak

    WHO recommends that women with suspected or confirmed Ebola immediately stop breastfeeding and are prioritised for diagnostic testing. Any child exposed to Ebola through breast milk should be placed into safe care, closely monitored for symptoms over a 21-day period and fed with an appropriate breast milk substitute.  

    The guidelines strongly recommend that breastfeeding is only restarted following two consecutive negative tests of breast milk, separated by 24 hours.

    A breast milk substitute should be used even if infection is confirmed for both the mother and her child. Exceptions can be made for infants under 6 months of age who are already infected, if breast milk substitutes are not feasible, affordable, sustainable or safe and separation cannot be implemented safely.

    Women’s health and rights in a disease outbreak

    A disease outbreak does not change women’s and adolescent girls’ fundamental human right to sexual and reproductive healthcare, including evidence-based care during pregnancy and childbirth.

    Women need support to make informed reproductive health care choices for themselves and their children. Women living in an Ebola outbreak should have access to all relevant reproductive options, regardless of economic, cultural, racial or religious status, including contraception and safe abortion to the full extent of the law.

    Pregnant and breastfeeding women across affected communities need equitable and respectful care that considers the risks they face and supports the choices they make.

    Accessing the guidelines and further research

    These guidelines are now available online and may be freely downloaded. The executive summary will be available in French.

    WHO will closely monitor new data as it emerges, as there is still a pressing need to prioritise ongoing research related to Ebola virus transmission.

     

     

     

    Pregnancy and breastfeeding during an Ebola virus outbreak
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    https://www.who.int/news-room/detail/10-02-2020-pregnancy-and-breastfeeding-during-an-ebola-virus-outbreak

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  • Repricing on Health Insurance Claims

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    We have all heard the stories of the emergency room claim that cost $10,000 for a broken thumb, or the person who had to file bankruptcy from the huge bill while using a network outside of their HMO. These stories have been the fuel for arguments on what should be done with our Nation’s healthcare system. The truth is these stories occur more than most people realize, and many have misconceptions on how this happens. This is why it is crucial to have the right billing network to take advantage of most favorable, predetermined pricing available.

    Lets take a look at a couple of scenarios where one person is stuck with a high medical bill and the other is protected. Suppose that two people walk into an emergency room for the same injury, one having adequate health insurance and the other having none. The emergency room is going to immediately know that each patient will be billed differently. The person with the right network billing plan will be able to take advantage of a nationwide network, allowing predetermined pricing for most any medical condition you can name. The other will be at the mercy of what the emergency room decides to charge. Depending on the medical condition, the difference of what is paid out could be upwards of tens of thousands of dollars. The catch is, in order to receive this predetermined billing you must have access to the participating billing network.

    When you take a closer look at how these billing networks work it becomes clear where you may be exposed, especially on smaller networks. No one knows this better than the self employed and those who do not get insurance offered through work. When an individual purchases health insurance on the exchange (Healthcare.gov), the only network options available in Texas are HMO, or restricted networks. These networks are formed for the insurance company and the medical institution to share losses, while hoping to bring in excess volume of patients to offset the claims. Even these smaller type of HMO networks can have big holes in their billing networks. For example, if an individual has a surgery within their HMO network they may still have an unpleasant surprise when the final bill comes. Although their surgeon is likely covered, both the anesthesiologist and the surgical tools rented for the surgery might fall out of the billing HMO network, causing thousands of dollars to be paid by the patient. You guessed it, not a word of warning, just a bill that the health insurance will not cover well after the surgery.

    The only way to avoid a small HMO network pricing trap is to take advantage of much larger billing networks, allowing you to avoid the uncovered pitfalls. These larger networks, or providers, can have hundreds of thousands of doctors and medical institutions participating coast to coast. Many of these nationwide networks make it mandatory for their preferred discount to be the primary, or front runner, method of billing, protecting the patient’s financial interests from any threat of overpricing. In fact, these predetermined pricing modules are so accurate some insurance companies form their coverage to mirror the preferred billing, therefore limiting the out of pocket expense by thousands of dollars. Those who utilize this service can rest easy knowing that their interests will be protected moving forward from the right billing network with unrestricted networks nationwide.

    Although these billing network giants are elusive in today’s ACA health insurance environment, they do exist across the nation, Texas included. In fact, I have helped dozens and dozens of clients take advantage of these unrestricted networks over the last few months alone, at much more reasonable premiums than ACA policies. It is important to consider the network billing plans when choosing the right heath insurance plan for your family, especially for those who do not qualify for a subsidy (Federal income credit given to those with limited financial means). It is extremely important to speak to a health insurance professional who has access to these unrestricted billing networks, in order to protect your financial interests.

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    Source by Cal J Burgess

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  • Marketing Strategy: 7 Steps to Market Segmentation

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    Market segmentation is widely defined as being a complex process consisting in two main phases:

    – identification of broad, large markets

    – segmentation of these markets in order to select the most appropriate target markets and develop Marketing mixes accordingly.

    Everyone within the Marketing world knows and speaks of segmentation yet not many truly understand its underlying mechanics, thus failure is just around the corner. What causes this? It has been documented that most marketers fail the segmentation exam and start with a narrow mind and a bunch of misconceptions such as “all teenagers are rebels”, “all elderly women buy the same cosmetics brands” and so on. There are many dimensions to be considered, and uncovering them is certainly an exercise of creativity.

    The most widely employed model of market segmentation comprises 7 steps, each of them designed to encourage the marketer to come with a creative approach.

    STEP 1: Identify and name the broad market

    You have to have figured out by this moment what broad market your business aims at. If your company is already on a market, this can be a starting point; more options are available for a new business but resources would normally be a little limited.

    The biggest challenge is to find the right balance for your business: use your experience, knowledge and common sense to estimate if the market you have just identified earlier is not too narrow or too broad for you.

    STEP 2: Identify and make an inventory of potential customers’ needs

    This step pushes the creativity challenge even farther, since it can be compared to a brainstorming session.

    What you have to figure out is what needs the consumers from the broad market identified earlier might have. The more possible needs you can come up with, the better.

    Got yourself stuck in this stage of segmentation? Try to put yourself into the shoes of your potential customers: why would they buy your product, what could possibly trigger a buying decision? Answering these questions can help you list most needs of potential customers on a given product market.

    STEP 3: Formulate narrower markets

    McCarthy and Perreault suggest forming sub-markets around what you would call your “typical customer”, then aggregate similar people into this segment, on the condition to be able to satisfy their needs using the same Marketing mix.

    Start building a column with dimensions of the major need you try to cover: this will make it easier for you to decide if a given person should be included in the first segment or you should form a new segment. Also create a list of people-related features, demographics included, for each narrow market you form – a further step will ask you to name them.

    There is no exact formula on how to form narrow markets: use your best judgement and experience. Do not avoid asking opinions even from non-Marketing professionals, as different people can have different opinions and you can usually count on at least those items most people agree on.

    STEP 4: Identify the determining dimensions

    Carefully review the list resulted form the previous step. You should have by now a list of need dimensions for each market segment: try to identify those that carry a determining power.

    Reviewing the needs and attitudes of those you included within each market segment can help you figure out the determining dimensions.

    STEP 5: Name possible segment markets

    You have identified the determining dimensions of your market segments, now review them one by one and give them an appropriate name.

    A good way of naming these markets is to rely on the most important determining dimension.

    STEP 6: Evaluate the behavior of market segments

    Once you are done naming each market segment, allow time to consider what other aspects you know about them. It is important for a marketer to understand market behavior and what triggers it. You might notice that, while most segments have similar needs, they’re still different needs: understanding the difference and acting upon it is the key to achieve success using competitive offerings.

    STEP 7: Estimate the size of each market segment

    Each segment identified, named and studied during the previous stages should finally be given an estimate size, even if, for lack of data, it is only a rough estimate.

    Estimates of market segments will come in handy later, by offering a support for sales forecasts and help plan the Marketing mix: the more data we can gather at this moment, the easier further planning and strategy will be.

    These were the steps to segment a market, briefly presented. If performed correctly and thoroughly, you should now be able to have a glimpse of how to build Marketing mixes for each market segment.

    This 7 steps approach to market segmentation is very simple and practical and works for most marketers. However, if you are curious about other methods and want to experiment, you should take a look at computer-aided techniques, such as clustering and positioning.

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    Source by Otilia Otlacan

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  • Sports Figures, Drugs, and America’s Drug Problem

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    There have been a lot of sports figures in the news recently as a result of drugs. Most recently, Alex Rodriguez has been accused of steroid use. This was a major story as he appeared to be one of only a handful of “clean” baseball heroes of recent times. Just prior to the Rodriguez scandal was the Phelps scandal. If you are one of the three people in the country that haven’t heard, he had been photographed smoking marijuana from a bong. And drugs and sports grabbing headlines doesn’t stop there, as recent articles on Fox Sports have discussed steroid use among the 70’s Steelers, and the recent arrest of Corie Blount, a former NBA player, who was allegedly caught with 29 pounds of marijuana. There was also the arrest of Jacksonville Jaguar former first round pick Matt Jones for cocaine possession early in last year’s football season.

    An interesting article I read on the Phelps scandal was by sometimes controversial sports writer Jason Whitlock. In the article he challenges what some saw as a racial double standard, and even briefly discusses some of the issues with this country’s war on drugs. His article is related to some of the material I use in the course I teach on “The Psychology of Drugs and Drug Abuse.” I show highlights of a documentary called “American Drug War: The Last White Hope.” This film does a good job (although biased at times) of showing the dark side of this war on drugs.

    As an example of America’s misperception of the drug problem, were you aware that tobacco kills more people than all other drugs combined, including alcohol? According to Hart, Ksir, and Ray, smoking is responsible for about 440,000 premature deaths per year. In comparison, alcohol is responsible for at least 20,000 accidental deaths per year, and up to 75,000 in this country when you combine accidental deaths (car accidents, boating accidents, falls, etc.) and deaths from the ill affects on the body (cirrhosis, heart disease, etc.). And these numbers far surpass the deaths from illegal drugs (10-20,000 per year). In fact, illegal drugs kill less Americans then the misuse of prescription drugs. (I had difficulty getting accurate data on prescription drug deaths as a result of misuse, but most articles and sources make it clear that prescription drug misuse causes more deaths per year than illegal drugs).

    According to the documentary I mentioned earlier, some of the contributors to the war on drugs are the companies from the tobacco and alcohol industries. Additionally, this documentary uses interviews with former government officials to substantiate the claim that the war on drugs has been a colossal failure. Street drugs today are more plentiful, more pure, and cheaper. So what has the war on drugs accomplished? According to statistics, it has resulted in approximately 50% of the incarcerated population being jailed for non-violent drug crimes.

    The point is that there are some real misconceptions about the substance abuse problem in this country. Perhaps we are paying attention to the wrong things. Rather than paying attention to cuts in funding for substance abuse rehabilitation, or to the incarceration of non-violent drug offenders, we seem much more concerned with our appointed heroes gaining an advantage in a sport they get paid huge amounts of money to play. Or in someone we have chosen to put on a pedestal, (a 23y/o at that) for letting us down by using marijuana at a college party. We are worried about street drugs, including marijuana, when prescription drug abuse is causing far more damage. And we wouldn’t think of making tobacco or alcohol illegal, despite the fact it causes far more health and welfare problems than illegal substances.

    Don’t we contribute to the sports worship issue? Don’t we make sports figures heroes and role-models, perhaps even more so than more worthy role-models? Don’t we make sports the business it is today, by buying the jerseys, paying the ticket prices, watching the games on television, and making sports the market that it is? Aren’t we quick to dethrone someone who makes a mistake, as if perfection is the only standard we’ll accept?

    I am not pro-drugs. I am not sure if I am pro legalization; I would have to give the issue more thought, and I’m not even sure I’m qualified to voice an opinion. But I am certain we are looking in the wrong directions when we look at drugs in this country. I am hoping it is time for a change: a change which finds all individuals seeking self actualization without the need for a substance; a time where compassion rules, rather than self-righteous indignation. I don’t believe many of us are going to get self actualized or become enlightened watching sports on television. But it is a nice distraction sometimes. How about that Superbowl?

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    Source by William Berry

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