Gratitool
Gratitool In one of my strategy lectures in B school, the professor said that according to certain management literature, around 30% of the success of a company is attributed to the "Firm" effect, referring to how well the company uses its resources, technology etc. 10-15% is attributable to the "Industry" effect referring to the nature and structure of the industry the firm operates in. When a classmate of mine asked the prof what the remaining 55-60% of the success is attributable to, the prof said we're yet to develop statistical tools to explain for this part of the success. I believe this component of success is pure LUCK and luck is a component a lot of people take for granted. Why am I talking about luck? Taking the analogy of the company to an individual's life, I believe his/her/their happiness is a function of personal effort(firm effect), the supporting environment(industry effect) and a good chunk of luck. Hence to tap into an individual’s total...