In this text, we will explain how biological systems and businesses are similar in the way they behave and evolve. We will then argue that a good measure of fuzziness, serendipity, uncertainty is beneficial for biological evolution and business. We will then discuss why serendipity is an integral part of evolution. We will try to demonstrate that the same rules that make biological evolution successful apply to business, too. Mathematical concepts and their limitations will be discussed briefly. A short example of how this applies for petroleum exploration has been added.
Inhaltsverzeichnis (Table of Contents)
- 1.0 What is Serendipity and why is it important?
- 2.0 The Objective of Life
- 2.1 Biological Evolution
- 2.1.1 Darwin’s Axiom
- 2.1.2. The Struggle for Survival
- 2.1.3 Evolutionary Suicide or Paradise
- 3.0 Common Problems – Examples
- 3.1 The Bird Seeking Food
- 3.2. The Traveling Salesman Problem
- 4.0 Various Approaches and Solutions
- 4.1 Mathematical Model Approaches of Evolution
- 4.2 Trial, Learning and Adaptation
- 4.3 The Theory of Second-Best
- 5.0 Applications
- 5.1 Sex
- 5.1.1. The Cost of Sex
- 5.1.2 The Advantages of Sex
- 5.2 Serendipity in Business
- 5.2.1 Business Start-Ups and Incubators
- 5.2.2 Mature Businesses
- 5.3 Exploration for Oil and Gas
- 5.3.1 Lack of Serendipity
- 5.3.2 Quantifying Luck and Serendipity
- 6.0 Discussion and Conclusions
- 6.1 Consequences
- 6.2 Summary and Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This text explores the parallels between biological systems and businesses in terms of their behavior and evolution, advocating for the beneficial role of "fuzziness," serendipity, and uncertainty in both domains. It argues that serendipity is integral to evolution and examines how these principles apply to business, especially within the context of oil and gas exploration.
- The importance of serendipity in biological evolution and business
- The role of trial and error in adaptation and problem-solving
- The concept of the "second-best" solution and its implications
- The impact of serendipity on business start-ups, mature companies, and oil and gas exploration
- The challenges and opportunities of quantifying serendipity in various fields
Zusammenfassung der Kapitel (Chapter Summaries)
This text delves into the nature of serendipity and its significant role in evolution and business. It starts by defining serendipity and emphasizing its importance in both biological and business contexts. The text then examines the objective of life from an evolutionary perspective, highlighting the importance of survival and reproduction for species.
The text then explores the concept of biological evolution, discussing Darwin's Axiom, the struggle for survival, and the potential for evolutionary suicide. It then examines two common optimization problems: the bird seeking food and the traveling salesman problem, showcasing the complexities and lack of exact mathematical solutions for such problems.
The text then delves into various approaches to problem-solving, including mathematical modeling, trial and error, and the theory of the second best. It explores the application of these concepts in the context of sex and the benefits and costs of sexual reproduction compared to asexual reproduction.
The text then focuses on the role of serendipity in business, discussing its application in start-ups, mature businesses, and oil and gas exploration. It examines the relationship between luck and skill in these contexts and explores the difficulties of quantifying the optimal level of serendipity.
Schlüsselwörter (Keywords)
The main keywords and focus topics of the text are evolution, serendipity, evolutionary suicide, trial and error, second-best, business, oil and gas exploration, and the relationship between luck and skill.
- Quote paper
- Bernhard Seubert (Author), 2019, Similarity Between Biological Systems and Businesses. Why Failure is Good for Business and Petroleum Exploration, Munich, GRIN Verlag, https://www.grin.com/document/1141966
