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1. Optimal Stopping: Managers can use this principle to make decisions about when to stop searching for options. For example, in hiring, after interviewing a certain number of candidates, they should pick the next one who is better than all previous ones.
2. Explore/Exploit Tradeoff: Managers need to balance between exploiting known paths to success and exploring new ones. This can be applied in areas like product development, marketing strategies etc.
3. Sorting and Searching: Managers can optimize their time and resources by learning how to efficiently sort and search through data, tasks or projects.
4. Networking: Understanding how networks work can help managers in building relationships, spreading information, and influencing others.
5. Game Theory: Managers can use game theory to strategize and anticipate the actions of others, which is useful in negotiations, partnerships, and competitive scenarios.
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Can computer science teach us the secrets of life? Perhaps not, but they can shed light on how certain everyday processes work and how to exploit them...
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If your friend jumped off a bridge, would you do it, too? The human instinct to copy one another can be a survival trait, like turning to look when you see others do just in case danger lurks nearby. Fads and fashions come and go. Is it better to play it safe or make your own way for better or worse?
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