One that is tightly optimised for an initial set of conditions might be more efficient whilst those conditions prevail but fail totally should conditions change. And in today's business world, conditions change daily."
The original meaning of Ashby's Law dealt with people attempting to keep a system stable. The controller of the system is better able to control it the more options he has. Variety of action controls variety of input (Wyrdology).
According to Bellinger, Castro, and Mills (2009, pg. 1), "According to Russell Ackoff, a systems theorist and professor of organizational change, the content of the human mind can be classified into five categories: Data: symbols; Information: data that are processed to be useful; provides answers to "who", "what", "where", and "when" questions; Knowledge: application of data and information; answers "how" questions; Understanding: appreciation of "why"; Wisdom: evaluated understanding."
Ackoff indicates that the first four categories relate to the past; they deal with what has been or what is known. Only the fifth category, wisdom, deals with the future because it incorporates vision and design. With wisdom, people can create the future rather than just grasp the present and past. But achieving wisdom isn't easy; people must move successively through the other categories."
"There are many approaches to problem solving, depending on the nature of the problem and the people involved in the problem. The more traditional, rational approach is typically used and involves, eg, clarifying description of the problem, analyzing causes, identifying alternatives, assessing each alternative, choosing one, implementing it, and evaluating whether the problem was solved or not" (Free Management Library, 2009, pg. 1).
The Work of Wiig and the KRI
Kristen Wiig is an actress. She has appeared in the following: Despicable Me, Late Night, WhipIt!, Extract, All Good Things, Saturday Night Live, The Flight of the Conchords, Love is a Weapon of Choice, Adventureland, Ghost Town, Forgetting Sarah Marshall, Semi-Pro, Pretty Bird, Walk Hard, 30 Rock, Bill, The Brothers Solomon, Knocked Up, Unaccompanied Minors, Home Purchasing Club, The Enigma with a Stigma, The Drew Carey Show, Untitled Aisha Tyler Project, I'm with Her, June, Life Death and Mini Golf, The Joe Schmo Show, and Melvin Goes to Dinner (IMDB, 2009).
"The KRI Library addresses the need for a structured mechanism for
key risk indicators and sets the stage for peer-group benchmarking. KRIs are widely viewed as having great potential-as a practical tool for tracking risk and losses, for measuring performance, for conducting process improvement exercises, for calculating capital (especially qualitative adjustments to capital estimates), and particularly for sounding an early warning of changes to an organization's risk profile" (RMAHQ, 2009, pg. 1).
KRI services fall into a broad range of services, including the following services: