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ChatGPT, Pillow, Python, Image Processing.
frames.append(img) # Save the sequence of images as an animated GIF frames[0].save('animation.gif', save_all=True, append_images=frames[1:], duration=100, loop=0) Python: Understanding the if __name__ == “__main__” Statement Understanding the `if __name__ == “__main__”` Statement in
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Python, Artificial Intelligence, Software Development, Data Science, Programming.
PYTHON — How to prepare an SQLite database in Python? Software is like entropy: It is difficult to grasp, weighs nothing, and obeys the Second Law of Thermodynamics; i.e., it always increases. — Norman Augustine Insights in this article were refined using prompt engineering methods. PYTHON —
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Python, Artificial Intelligence, Software Development, Data Science, Programming.
Creating Nested If Statements in Python # Preparing an SQLite Database in Python Introduction Preparing an SQLite database in Python is a fundamental skill for developers who need to work with structured data in their applications. SQLite is a lightweight, serverless, and self-contained database
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Python, Artificial Intelligence, Software Development, Data Science, Programming.
management system that is widely used in various types of projects, from mobile apps to web applications. In this tutorial, we will guide you through the process of setting up an SQLite database and interacting with it using Python. Prerequisites Before we begin, ensure that you have the following
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Python, Artificial Intelligence, Software Development, Data Science, Programming.
installed on your system: Python 3.x The sqlite3 module, which is part of the Python standard library and does not require any additional installation. Step 1: Create a New SQLite Database In this step, we will create a new SQLite database file and establish a connection to it using Python. import
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Python, Artificial Intelligence, Software Development, Data Science, Programming.
sqlite3 # Create a new SQLite database file conn = sqlite3.connect('example.db') # Get a cursor object to execute SQL commands cursor = conn.cursor() # Print the database version print("SQLite version:", sqlite3.version) In the code above, we first import the sqlite3 module, which provides the
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Python, Artificial Intelligence, Software Development, Data Science, Programming.
necessary functionality to work with SQLite databases in Python. We then create a new SQLite database file named example.db using the sqlite3.connect() function, which returns a connection object. Next, we obtain a cursor object from the connection, which we'll use to execute SQL commands. Finally,
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Python, Artificial Intelligence, Software Development, Data Science, Programming.
we print the version of the SQLite library being used, just to verify that the setup is working correctly. Step 2: Create a Table Now, let’s create a table in our SQLite database. In this example, we’ll create a table called “users” with columns for user ID, name, and email. # Create a table
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Python, Artificial Intelligence, Software Development, Data Science, Programming.
cursor.execute('''CREATE TABLE IF NOT EXISTS users (id INTEGER PRIMARY KEY, name TEXT, email TEXT)''') # Commit the changes conn.commit() In the code above, we use the cursor.execute() method to execute a SQL CREATE TABLE statement. The IF NOT EXISTS clause ensures that the table is only created if
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Python, Artificial Intelligence, Software Development, Data Science, Programming.
it doesn't already exist. We define the table structure with three columns: id (an integer primary key), name (a text field), and email (also a text field). Finally, we call conn.commit() to save the changes to the database. Step 3: Insert Data into the Table Next, let’s insert some sample data
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Python, Artificial Intelligence, Software Development, Data Science, Programming.
into the “users” table. # Insert data cursor.execute("INSERT INTO users (name, email) VALUES (?, ?)", ("John Doe", "[email protected]")) cursor.execute("INSERT INTO users (name, email) VALUES (?, ?)", ("Jane Smith", "[email protected]")) # Commit the changes conn.commit() In this example,
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Python, Artificial Intelligence, Software Development, Data Science, Programming.
we use parameterized queries to insert two new rows into the “users” table. The ? placeholders are used to safely insert the values, which helps prevent SQL injection attacks. After executing the INSERT statements, we call conn.commit() to save the changes to the database. Step 4: Query the
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Python, Artificial Intelligence, Software Development, Data Science, Programming.
Database Now, let’s retrieve the data we just inserted. # Query the database cursor.execute("SELECT * FROM users") rows = cursor.fetchall() # Print the results for row in rows: print(row) In this code, we use the cursor.execute() method to run a SELECT query on the "users" table. The
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Python, Artificial Intelligence, Software Development, Data Science, Programming.
cursor.fetchall() function retrieves all the rows returned by the query and stores them in the rows variable. Finally, we loop through the rows and print the contents of each row. Step 5: Close the Database Connection When you’re done working with the database, it’s important to close the
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Python, Artificial Intelligence, Software Development, Data Science, Programming.
connection to free up system resources. # Close the connection conn.close() Conclusion In this tutorial, you learned how to prepare an SQLite database in Python. You created a new database, created a table, inserted data, queried the database, and finally closed the connection. This is the
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Python, Artificial Intelligence, Software Development, Data Science, Programming.
foundation for working with SQLite databases in your Python projects. To further explore and expand your skills, you can try the following: Implement more complex database operations, such as updating and deleting data Use SQLite with a web framework like Flask or Django Explore advanced SQLite
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Python, Artificial Intelligence, Software Development, Data Science, Programming.
features, such as transactions, indexing, and optimization Integrate SQLite with other Python libraries, such as pandas or SQLAlchemy, for more advanced data processing and analysis Remember, the sqlite3 module is part of the Python standard library, so you can start using it right away in your
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| 7,780 |
Sql, Sql Queries, Big Data, Data Analytics, Data Science.
SQL Analytical Function : Part I — Introduction to Analytical Function Analytical Function used to compute result of multiple rows and return that result for the current row. These functions are widely used on SQL, and very useful to do some analytics on the dataset. So i am here to make your life
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Sql, Sql Queries, Big Data, Data Analytics, Data Science.
easy, instead of going through each of the Analytical function, First let us understand basic syntax of the SQL analytical function. Once you understand how analytical function works, it will make my life easy to explain all the other Analytical Functions. So let us begin. Any analytical function
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Sql, Sql Queries, Big Data, Data Analytics, Data Science.
you consider, it can be divided into three part, this is true for most of the cases. 1. OVER OVER simply means which analytical function, we are going to apply on which columns. So consider any function and decide OVER which column you want to apply it. Example : ROW_NUMBER() OVER() Here
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Sql, Sql Queries, Big Data, Data Analytics, Data Science.
ROW_NUMBER() function we are going to apply OVER required columns. 2. PARTITION BY Second part is PARTITION BY, this is like input to OVER clause. So here you need to mention which column you are interested to apply the analytical function. We will be dividing the column based on the column
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Sql, Sql Queries, Big Data, Data Analytics, Data Science.
mentioned in PARITION BY. Example : ROW_NUMBER() OVER (PARTITION BY department_id) Here, ROW_NUMBER is paritioned by department_id. I.e. If our data set has three department_id, each department is grouped as one parition. Let us consider below example: SAMPLE DATASET After we apply the Analytical
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Sql, Sql Queries, Big Data, Data Analytics, Data Science.
Function, dataset will be like below : ROW_NUMBER() OVER (PARTITION BY department_id) Here, each department is grouped into one partition, this is the beauty of PARTITION BY in analytical function. Please note, we have not added any ORDER BY here, so row_number is assigned within partition
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Sql, Sql Queries, Big Data, Data Analytics, Data Science.
randomly. 3. ORDER BY Third part of the analytical function is ORDER BY. After we partition the data, we may want to order the data based on pariticular column and then assign the row_number. So ORDER by will help to do that. Example : ROW_NUMBER() OVER (PARTITION BY department_id, ORDER BY Salary)
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Sql, Sql Queries, Big Data, Data Analytics, Data Science.
Let us consider same example, where data is already partitioned based on department_id, if you observe closely ROW_NUMBER within partition is assigned randomly. So when we add ORDER BY clause, ROW_NUMBER will first consider PARTITION BY logic, then it will apply ORDER BY. Below screenshot, each
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Sql, Sql Queries, Big Data, Data Analytics, Data Science.
ROW_NUMBER is assigned based on the salary order within department group. ROW_NUMBER() OVER (PARTITION BY department_id, ORDER BY Salary) BY default ordering done on ascending order, Incase if you want to order desc, then you need to write desc in the ORDER BY clause. i.e. ROW_NUMBER() OVER
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Sql, Sql Queries, Big Data, Data Analytics, Data Science.
(PARTITION BY department_id, ORDER BY Salary desc) And output for desc order will be : ROW_NUMBER() OVER (PARTITION BY department_id, ORDER BY Salary desc) Did you ever get question in interview, “Write SQL query to return highest paid employees in each department” If yes, then you already solved
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Sql, Sql Queries, Big Data, Data Analytics, Data Science.
it. So full query will look like: SELECT empid,department_id,salary from (select empid,department_id,salary,ROW_NUMBER() OVER(PARTITION BY department_id ORDER BY salary desc) as row_num from employe_table) as a where row_num=1; Result of highest paid employees in each department There are many
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Sql, Sql Queries, Big Data, Data Analytics, Data Science.
analytical function on SQL, like, ROW_NUMBER() RANK() DENSE_RANK() FIRST_VALUE() LAST_VALUE() LAG() LEAD() NTILE() PERCENT_RANK() I hope this article make it easy to understand all the Analytical Functions. In the next article, i will discuss about each of these analytical functions. oh wait! Part
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Education, Technology, Workshop, Students, Programming.
In furtherance of one of the OYOMESI objectives which is to prepare Oyo State for a knowledge-based future the OYO State Government in conjunction with The Airbus Foundation together with its partner, The Little Engineer are rolling out the Airbus Little Engineer (ALE) robotics programme in Oyo
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Education, Technology, Workshop, Students, Programming.
State. The initiative aims at training thousands of students between 10 and 16 years old in the fields of Science, Technology, Engineering and Mathematics (STEM). The goal is to encourage students to understand and embrace technology and ignite a passion that could grow into an exciting STEM
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Education, Technology, Workshop, Students, Programming.
career. This is another unprecedented move by His Excellency Senator Abiola Ajimobi to prepare the State for a knowledge-based future and make the State a hub for producing knowledgeable competent workforce in Nigeria. According to the Special Adviser on Education, Dr Bisi Akin-Alabi “this is one
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Education, Technology, Workshop, Students, Programming.
of the many collaborations with global companies to further expand the knowledge space of our pupils and ensure we as a state have a wholesome education offering” Africa has the fastest-growing and most youthful population in the world, its youth will be the driving force behind sustainable growth
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Education, Technology, Workshop, Students, Programming.
across the continent. Therefore, investment in education and training is essential in building an educated and skilled workforce and to encourage innovation. The goal of the ALE programme is to support the countries’ efforts in creating a sustainable pipeline of talent for Africa. The Airbus Little
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Education, Technology, Workshop, Students, Programming.
Engineer A380 Assembly Workshop is a robotic workshop offered by Airbus Foundation for learners aged 12+ in the MENA region and now in Africa, to instil in youth the passion for Science Technology, Engineering and Mathematics (STEM). This workshop aims to introduce the students to the world of
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Education, Technology, Workshop, Students, Programming.
robotics and the aviation industry. The students will be acquainted with the A380 Airplane covering its development from the manufacturing phase in different countries to its final assembly in Toulouse or Hamburg. This workshop is a 4-hour educational activity that can host a maximum of 27
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Education, Technology, Workshop, Students, Programming.
learners. They will be divided into groups of 3. The 9 Groups will compete on two missions. In view of this, we have nominated 5 of our Flagship schools to take part in this workshop which is to be held in their recently renovated Cluster Learning Centres on the following dates: OBJECTIVES By the
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Education, Technology, Workshop, Students, Programming.
end of this course students will: 1. Understand the basics of robotics and why they are a must in our life. 2. Recognize the different parts available on the airplane. 3. Understand the concept of lift force created on an airplane. 4. Possess the ability to understand Basic programming. 5. Create
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Education, Technology, Workshop, Students, Programming.
their own algorithm to develop a problem-solving robot. 6. Be aware that a huge industry is waiting for them. 7. Unleash their potential and nurture their passion so they can contribute efficiently to the future of Airbus. ACQUIRED SKILLS Different skills and new knowledge are learned in this
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Education, Technology, Workshop, Students, Programming.
workshop: • Up to date information about Airbus and the Aviation industry • Collaboration • Concentration • Teamwork • Problem Solving • Critical Thinking • Troubleshooting • Time management • Planning • Designing Public speaking Connect with us: Web: www.oyostate.gov.ng/oyomesi Email:
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Productivity, Time Management, Listicles, Management, Energy.
Photo by Firmbee.com on Unsplash I recently had one of those profound, eye-opening conversations with a dear friend who’s been feeling utterly overwhelmed by her workload. She’s caught in this relentless cycle of 6 a.m. to 6 p.m. days, chained to her desk, with no clear end in sight. It’s as if
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Productivity, Time Management, Listicles, Management, Energy.
she’s on an eternal treadmill, running herself ragged. She turned to me for advice on time management, which, to be honest, caught me off guard. I’ve never seen myself as a paragon of time management. In fact, I’ve always shied away from rigid productivity systems, fearing they might stifle my
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creativity and spontaneity. This led me to wonder why she thought I might have some wisdom to share. When I asked her, she pointed to the variety of projects I juggle and the seemingly effortless way I navigate through them. From storytelling and communications strategy to leadership coaching,
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Productivity, Time Management, Listicles, Management, Energy.
Enneagram prison work, and theater, I have my hands in many different pots. It was then that I realized something crucial: I don’t focus on managing time; I focus on managing my energy. This realization was a bit of a revelation for me. Over the years, I’ve learned that the actual time something
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takes is far less important than the energy it requires. You could work on a task for six hours that invigorates and energizes you, leaving you feeling fresh and ready for more. On the flip side, you could spend just three hours on a draining, unfulfilling task and find yourself exhausted and
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unable to do anything else for the rest of the day. From a productivity standpoint, I have to admit, I love making lists and crossing things off them. There’s a certain satisfaction that comes from seeing a list of tasks slowly dwindle down to nothing. But as I’ve matured, I’ve come to understand
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that true satisfaction comes not from the act of crossing things off a list, but from being intentional about what goes on the list in the first place. If everything on your list is an energy drain, will you really feel accomplished once it’s all done? Russ Hudson, an Enneagram teacher, recently
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shared an insight that resonated deeply with me. He talked about frustration as an addictive emotion — it gets us stressed and adrenalized. I don’t enjoy being frustrated, but if I’m honest, it’s an easy default if I’m not careful. Hudson explained that “lifeforce gets trapped in frustration.” So,
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Productivity, Time Management, Listicles, Management, Energy.
the energy we waste on frustration could be redirected towards more fulfilling, creative pursuits. Thinking back to my friend and many clients stuck on the endless treadmill of work, there’s an interesting link between the adrenaline rush promoted by hustle culture and the way time management is
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Productivity, Time Management, Listicles, Management, Energy.
often seen as the solution to burnout. But I believe that focusing too much on time management actually perpetuates hustle culture. Imagine a world where we focus less on squeezing every minute out of our days and more on managing our energy. How do we do that? It starts with awareness,
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Productivity, Time Management, Listicles, Management, Energy.
discernment, and making deliberate choices. Awareness: Understanding Your Energy Not all energy is created equal. There’s frenetic, driven energy and there’s open, free, vital energy. The latter is sustainable and comes from activities that are truly in our sweet spot, leaving us feeling powerful
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and expansive. For me, coaching is one of those activities. When I’m working with a client, helping them navigate their challenges and unlock their potential, I feel a surge of positive energy. It’s like plugging into a power source that leaves me feeling rejuvenated and inspired. On the other
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Productivity, Time Management, Listicles, Management, Energy.
hand, there are tasks that drain my energy. Organizing a closet or putting together a budget, for example, renders me cross-eyed. These tasks leave me feeling depleted and irritable. But for someone else, these same tasks might be a source of satisfaction and renewal. The key is to recognize the
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Productivity, Time Management, Listicles, Management, Energy.
activities that energize you and those that drain you, and to structure your days accordingly. Discernment: Choosing the Right Activities Once you’re aware of what energizes you and what drains you, the next step is discernment — making conscious choices about how you spend your time. It’s about
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prioritizing the activities that expand your energy and minimizing those that deplete it. This doesn’t mean you can eliminate all energy-draining tasks from your life, but it does mean you can be strategic about when and how you tackle them. For instance, I’ve learned that my energy peaks in the
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morning. This is when I’m most creative and focused, so I try to schedule my most important and energy-intensive tasks during this time. In the afternoon, when my energy starts to wane, I tackle the less demanding, more routine tasks. This way, I’m aligning my activities with my natural energy
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rhythms, maximizing my productivity and well-being. Choices and Sacrifices: Making Trade-offs We can’t do everything. This is a hard truth, but an essential one. We all have limited time and energy, and making choices means making sacrifices. But if we’re mindful about what we say yes or no to
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based on the energy it generates or depletes, we can create more satisfaction and vitality in our lives. One of the most significant changes I’ve made is learning to say no. It’s not easy, especially when you’re a people pleaser or someone who likes to seize every opportunity. But saying no to
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things that drain your energy is crucial for preserving your well-being and creating space for the things that truly matter. It’s about making intentional choices and being willing to sacrifice some opportunities for the sake of your overall energy and happiness. Presencing: Managing Negative
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Productivity, Time Management, Listicles, Management, Energy.
Emotions Despite our best efforts, there will be times when we tip the scales towards negative, draining emotions. When this happens, it’s essential to have strategies for managing these emotions. Hudson suggests “presencing” them — making presence an active verb. This means noticing when we’re
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emotionally hijacked, breathing into it, acknowledging it, and continuing to breathe. For me, if I feel frustration creeping in, I try to notice it, name it, and breathe through it. If I don’t, I’m on the fast track to an energy drain. Hudson compares presence to rocket fuel, filling us with energy
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Productivity, Time Management, Listicles, Management, Energy.
and light, helping us move beyond the narrative of our stress and into a more energized state. This energy boost allows us to find the creativity to tackle the next right thing. Real-Life Applications: Energy Management in Action Let me give you a few real-life examples of how focusing on energy
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management has transformed my approach to work and life. Storytelling and Communications Strategy Storytelling is one of my passions. When I’m crafting a narrative, whether it’s for a client’s brand or a personal project, I lose track of time. I get into a flow state where ideas come effortlessly,
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and I feel deeply connected to the work. This is a prime example of an activity that generates positive, sustainable energy for me. On the other hand, when I’m bogged down with administrative tasks related to storytelling — like scheduling meetings or managing emails — I feel my energy plummet. To
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counteract this, I delegate these tasks as much as possible. By freeing myself from these energy drains, I can focus more on the creative aspects of storytelling that I love. Leadership Coaching Coaching leaders and helping them unlock their potential is another activity that energizes me. There’s
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something incredibly fulfilling about seeing someone have a breakthrough moment or gain a new perspective that transforms their approach to leadership. These sessions leave me feeling invigorated and inspired. However, not every aspect of coaching is energizing. Preparing detailed reports or
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handling billing can be tedious and draining. To manage this, I schedule these tasks during my lower energy periods and use tools and systems to streamline the process. This way, I can spend more of my peak energy on the coaching itself. Enneagram Prison Work Working with inmates through the
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Enneagram is deeply meaningful and energizing for me. It’s a challenging environment, but the impact we can have is profound. These sessions are emotionally intense, but they also provide a deep sense of purpose and fulfillment. Given the emotional intensity, I make sure to balance this work with
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self-care practices that replenish my energy. Whether it’s taking time for meditation, exercise, or spending time with loved ones, these activities help me maintain my energy levels and continue this important work. Theater Theater has always been a creative outlet for me. Whether I’m acting,
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directing, or writing, theater allows me to express myself and connect with others in a unique way. The collaborative nature of theater is also energizing, as it involves working with a team of talented individuals to create something special. To ensure that theater remains a source of positive
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energy, I’m careful about the projects I take on. I choose ones that align with my values and interests, and I avoid those that feel like a drain. This discernment helps me stay energized and passionate about my theater work. Practical Tips for Managing Energy Based on my experiences, here are some
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practical tips for managing your energy: Identify Your Energy Peaks and Valleys: Pay attention to when you feel most energized and when your energy dips. Schedule your most important tasks during your energy peaks and reserve routine or less demanding tasks for your energy valleys. Delegate or
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Automate Energy Drains: If there are tasks that consistently drain your energy, see if you can delegate them to someone else or automate them using tools and technology. Prioritize Self-Care: Make time for activities that replenish your energy. This could include exercise, meditation, spending time
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in nature, or engaging in hobbies you love. Set Boundaries: Learn to say no to requests and opportunities that drain your energy. Protect your time and energy for the things that truly matter to you. Practice Presence: When you feel negative emotions like frustration creeping in, practice
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presencing. Notice the emotion, name it, and breathe through it. This can help prevent an energy drain and restore your vitality. Create an Energy-Boosting Environment: Surround yourself with people, activities, and environments that boost your energy. Whether it’s working in a space that inspires
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you or spending time with positive, supportive people, your environment can have a big impact on your energy levels. The Future of Work: Energy Management Over Time Management As we move forward in an increasingly fast-paced world, I believe that energy management will become more critical than
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ever. Hustle culture, with its emphasis on maximizing every minute, can lead to burnout and diminished well-being. By shifting our focus to managing our energy, we can create a more sustainable and fulfilling way of working and living. This approach requires a mindset shift. Instead of asking, “How
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can I fit more into my day?” we should be asking, “How can I create and sustain positive energy throughout my day?” This means prioritizing activities that energize us, being mindful of our natural energy rhythms, and making intentional choices about how we spend our time. Conclusion: Embracing
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Energy Management In conclusion, my conversation with my friend opened my eyes to the importance of energy management over time management. By focusing on our energy, we can create more satisfaction, vitality, and well-being in our lives. This approach requires awareness, discernment, and making
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deliberate choices about how we spend our time and energy. As we navigate the demands of modern life, let’s strive to create a world where we prioritize energy over time, where we focus on what truly matters, and where we cultivate activities that leave us feeling powerful and expansive. By doing
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Entrepreneurship, Decision Making, Business Strategy, Startup Lessons, Intel.
Sunk Cost Bias, Example & Decision-Making in Business We think we are rational decision makers, but our decisions are predominantly controlled by the automatic, intuitive mind(Emotional mind) rather than the rational mind. Image from thenewdaily.com.au HEURISTICS Decision-making is an inherently
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Entrepreneurship, Decision Making, Business Strategy, Startup Lessons, Intel.
complex process that involves a significant amount of cognitive effort. If a rational mind has to get involved in making a decision, it would consume a lot of energy in performing those cognitive tasks because of the ‘working memory’ limitations. This would impart a feeling of fatigue. In other
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Entrepreneurship, Decision Making, Business Strategy, Startup Lessons, Intel.
words, our ‘mind system’ is naturally against rational decisions. To counter this fatigue, the human mind has evolved over aeons to automate a lot of behaviours and use a lot of mental shortcuts as much as possible, in responding to various scenarios. These mental shortcuts are called ‘Heuristics’
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Entrepreneurship, Decision Making, Business Strategy, Startup Lessons, Intel.
which our automatic, intuitive mind use to influence our decisions. Sometimes, these heuristics help us but many times it would prove fatal. It had resulted in bad decisions and was particularly responsible for many business failures. Some of the driving elements behind those mental ‘heuristics’ in
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Entrepreneurship, Decision Making, Business Strategy, Startup Lessons, Intel.
our intuitive mind are our own hidden beliefs & prejudices(Cognitive Biases), which are shaped by past experiences and the environment in which a person grew up. What makes all these ‘heuristics’ so dangerous is their invisibility to the decision-maker. We fail to see or recognize them. “Sometimes
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Entrepreneurship, Decision Making, Business Strategy, Startup Lessons, Intel.
the fault lies not in the decision-making process but rather in the mind of decision maker” -John S. Hammond Sunk Cost Bias is one of the heuristics that influence decision-making and has the potential to wreck the businesses. THE SUNK COST Once, I and my wife have booked tickets for a new
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Malayalam movie. A couple of hours before the movie time, we went through the movie reviews and it was really bad and scary. Me: “Looks like it would be tough to sit and watch the movie for three hours” Wife: “Let’s skip this movie” Me with an irritated voice: “No. We have paid Rs.500 for the
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tickets. It would go waste. Let’s Go”. She immediately looked at me and smiled, “Sunk cost at work and.. you… taught me from those books” and she pointed out at a couple of books in my book rack. It is true that we cannot recover the money whether we go and watch the movie or not and it should not
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Entrepreneurship, Decision Making, Business Strategy, Startup Lessons, Intel.
have played a role in our decision-making but unknowingly it influenced my mind leading to inappropriate decisions. Definition -The Sunk Cost is a mental shortcut that would force an individual to continue investing his or her time, money, emotion in a losing activity because of their earlier
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investments. John S Hammond writes “Sunk cost is a kind of a trap which will force a person to make choices in a way that justifies past choices”. Example -Investors often refuse to sell their stocks at a loss as they had already invested so much money and time with that stock. The investor should
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have made decisions based on the future value of the stock or the alternative investments rather than the value of past investments which are anyway irrecoverable. Loss Aversion -One of the reasons why people fall into the trap of ‘Sunk Cost’ bias is the ‘Loss Aversion’ phenomenon. By nature, we
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focus on what we may lose than what we may gain. In the movie tickets scenario, I was unknowingly focussed on losing the money I spent on the tickets rather than thinking about what I would gain. Our aversion to loss is a strong emotion. Afraid Of Admitting Mistakes -Another reason why a person
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would fall into ‘Sunk Cost’ trap is the unwillingness to admit that he or she made a mistake, particularly in a business environment. John S Hammond provides an example - If you fire a poor performer(even after investing an enormous amount of effort) whom you hired, you are publicly admitting of
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Entrepreneurship, Decision Making, Business Strategy, Startup Lessons, Intel.
your poor judgement. You would naturally let him or her to stay on, even though the choice compounds the error. As decisions are made by people, biases like ‘Sunk Cost’ have sunk many businesses but some companies have successfully overcome those challenges. Let’s see about one such successful
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company by name ‘Intel’. Let’s see how Intel overcome Sunk Cost Bias while transitioning from memory business to microprocessor business. INTEL‘S EXIT FROM MEMORY TO MICROPROCESSORS In the early 1970s, Intel was nearly a monopoly in manufacturing and supplying memory chips(DRAMs). The company ruled
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the market and memories had become Intel’s identity. In the late 1970s, Japanese memory producers entered the PC market to fill the product shortages as Intel struggled to meet the demands. Slowly their share of the market began to rise. Before Intel realised the problem, the Japanese had become a
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major competitor and turned the DRAMs into a commodity product. Intel began to lose money rapidly. It was frustrating for Intel’s senior management team and the employees. They didn’t know how to react. Intel’s CEO Andy Grove and Chairman Gordon Moore pondered various solutions to stem the loss as
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well as the future course of action. In the meantime, One of Intel’s team developed a microprocessor and it was gaining a foothold in the PC market. Being new, the microprocessors’ growth was slow at that time. Should Intel invest more in protecting the memory business and fight Japanese
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manufacturers or should the company flee from memories market and create a new growth market? It was a business growth dilemma. The time was just running out but Andy and his team struggled to arrive at a solution. The indecision lasted more than a couple of years. One of the reasons why Intel took
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so long to decide was ‘Sunk Cost’ Bias. How did Intel overcome those challenges? SUNK COST BIAS IN DECISION-MAKING Intel was founded and built on memories. The people of Intel grew along with the company. Memory Chips had become their identity. They had invested a lot of their time, mental energy,
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