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The concept has been widely employed as a metaphor in business, dating back to at least 2001. [5] It is widely used in the technology and pharmaceutical industries. [2] [3] It became a mantra and badge of honor within startup culture and particularly within the technology industry and in the United States' Silicon Valley, where it is a common part of corporate culture.
A study published in 2014 by the Turnaround Management Society assesses that most business crises are caused by the mistakes of upper management. The most frequent causes of a crisis are that the management continued with a strategy that was no longer working for the company (54.6%), and that they lost touch with the market and their customers ...
[7] The Apple "goto fail" bug was a duplicated line of code which caused a public key certificate check to pass a test incorrectly. The GnuTLS "goto fail" bug was similar to the Apple bug and found about two weeks later. The GnuTLS bug also allowed attackers to bypass SSL/TLS security. [8]
Zero Defects is a management tool aimed at the reduction of defects through prevention. It is directed at motivating people to prevent mistakes by developing a constant, conscious desire to do their job right the first time." [2]: vii — Zero Defects: A New Dimension in Quality Assurance
For example, a business plan for a non-profit might discuss the fit between the business plan and the organization's mission. Banks are quite concerned about defaults, so a business plan for a bank loan will build a convincing case for the organization's ability to repay the loan.
A unilateral mistake is where only one party to a contract is mistaken about the terms or subject-matter contained in a contract. [7] This kind of mistake is more common than other types of mistake. [citation needed] One must first distinguish between mechanical calculations and business errors when looking at unilateral mistake. [citation needed]
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[4] [5] The redundancy allows the receiver not only to detect errors that may occur anywhere in the message, but often to correct a limited number of errors. Therefore a reverse channel to request re-transmission may not be needed. The cost is a fixed, higher forward channel bandwidth.