Recently, two distinguished businessmen announced their intentions to give away their wealth to leave a legacy of lasting benefit to the world. Microsoft Chair Bill Gates and later Warren Buffett, the world's second richest man, revealed plans to "reorder their personal priorities." Their expertise and most of their wealth will be migrated to the Bill and Melinda Gates Foundation [www.gatesfoundation.org].

The Bill and Melinda Gates Foundation exists to "reduce inequities and improve lives around the world — bringing innovations in health and learning to the global community." One of the foundation's interest areas is education [http://www.glf.org/Education], and was the subject of a recent article in BusinessWeek, ("Bill Gates Gets Schooled," #3990, June 26, 2006, pp. 64-70, www.businessweek.com). As Gates has said, "It's about using technology not just for the privileged few, but for everyone." Another of the foundation's goals is to help ensure that lifesaving advances in health are created and shared with those who need them most [www.glf.org/GlobalHealth].

In today's competitive business environment, business people are often viewed as selfish and mean spirited. Although some are, it is also true to say that many are engaged in philanthropic causes that leave lasting legacies of value.

Other Bytes

Here are some of the things going on in and around the engineering community:

• "What Makes a Winner" is the subject of a special issue of BusinessWeek (#3998, pp. 21-28, Aug. 2006, www.businessweek.com). Almost 80 pages of valuable information is provided through a series of 24 well-written articles on how people, organizations and communities get ahead. Many useful tips and strategies that will assist you in achieving your personal and career success are provided.

• Opinions on the merits of globalization abound. In "Are You Enjoying Globalization Yet? The Surprising Implications for Business" (Journal of Business Strategy; 27(4), pp. 23-32, 2006), Adrian Slywotzky et al. present their perspectives on how globalization facilitates economically effective business designs. The authors believe that globalization will tend to make strong business designs even stronger through global sourcing, selling and science.

• The cost of providing health care is rising dramatically. In "The Best Medical Care in the United States" (BusinessWeek, #3993, pp. 50-56, 17 July 2006, www.businessweek.com), Catherine Arnst discusses how the Veterans Affairs Medical Centre in Buffalo, N.Y., transformed itself into a lower cost and high quality hospital. Arnst concludes "the VA is a dramatic example of what can happen if you have the will and the leadership to make change happen."

• We all learn from our mistakes. In "The Wisdom of Deliberate Mistakes" (Harvard Business Review; (84(6), pp. 109-115, 2006, www.hbr.com), Paul Schoemaker and Robert Gunther describe a systematic way to make carefully planned mistakes that pay off. Making mistakes is seen as a "powerful way to accelerate learning and increase competitiveness."

• "Eight Supertrends Shaping the Future of Business" is the title of an article by Karl Albrecht in The Futurist (40(5), pp. 25-29, 2006, www.wfs.org). These eight supertrends — customer, competitor, economic, technological, social, political, legal and geophysical — are intended to help you contextualize changes that are altering the face and dynamics of commerce.

• Loss of corporate reputation and trust can result in reduced patronage by customers and investors, low employee morale, and increased scrutiny by regulators. In "Reputation Risk: It is the Board's Ultimate Responsibility" (Journal of Business Strategy, 27(2), pp. 59-68, 2006), Grahame Dowling discusses how corporate reputation management is a shared responsibility that must start with the Board of Directors.

• The human brain is a complex organ. In "Mapping the Trader's Brain" (Bloomberg Markets, 15(3), pp. 35-44, 2006, www.bloomberg.com/news/marketsmag), Adam Levy discuss the findings of scientists in their investigations aimed at understanding investor behavior. Although the investigations are in the early stages, the researchers are confident that their research will have significant applications in the future.

• The U.S. Bureau of Labor Statistics estimates that by 2014 there will be more than 1.3 million job openings in information technology (IT). "What's in it for Them?" is the title of an article by Marianne McGee (informationweek.com, #1098, 17 July 2006, pp. 32-44, 2006, www.informationweek.com) that examines the issue of getting students interested in the IT profession.

• "The Future of Tech: Ten Technologies that will change your life" is the title of the cover story in PC Magazine (25(13), pp. 65-75, 2006, www.pcmag.com). Stretchable silicon, chaos computing, unreal telepresence, nanocrystal displays, multitouch displays, transparent transistors, silicon brains, bacterial photography, tritium batteries and viral fashion are the intriguing "coolest technologies" described. Several futuristic thinkers also offer their predictions for future technologies.

 

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