Waiting is a ubiquitous activity in many services, forming an unresolved issue in most organizations, while being an inevitable result of the business model in others. Customers wait for busses, people wait in line at the supermarket, people wait at airports, and so forth. To make matters worse, customers dislike waiting. Because of psychological factors
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A black swan is an event with three properties. First of all, a black swan is a rare event, based on past knowledge, and one that is impossible to predict. However, although its probability is low, when the event occurs, it has an enormous impact. Last, the event is easily explained afterwards. People didn’t see
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As a reaction on new European Union sanctions looming over Russia, on Monday September 8th, Russian prime minister Dimitry Medvedev threatened to decline access for European flights through Russian Airspace. Medvedev stated that ‘bypassing our airspace could drive many struggling airlines into bankruptcy’. And indeed, because of the sheer size of the world’s largest country,
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