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Examples of government failure include regulatory capture and regulatory arbitrage. Government failure may arise because of unanticipated consequences of a government intervention, or because an inefficient outcome is more politically feasible than a Pareto improvement to it. Government failure can be on both the demand side and the supply side.
Example of a coordination failure. Models of coordination failure can have multiple equilibria. In this example a representative firm e i makes its output decisions based on the average output of other firms (e *). When the representative firm produces as much as the average firm (e i =e *), the economy is at an equilibrium. The curve ...
Because software, unlike a major civil engineering construction project, is often easy and cheap to change after it has been constructed, a piece of custom software that fails to deliver on its objectives may sometimes be modified over time in such a way that it later succeeds—and/or business processes or end-user mindsets may change to accommodate the software.
Branson's failures don't end there — in 2020 his attempt to launch his first rocket for Virgin Orbit also failed, though he quickly put more rockets into production. Stansfield PL/wikipedia.org
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Operating manuals printed only in English is an extreme example of mismanagement but indicative of systemic barriers to information diffusion. According to Union Carbide's own chronology of the incident (2006), a day after the crisis Union Carbide's upper management arrived in India but was unable to assist in the relief efforts because they ...
Service failures occur when service delivery falls short of customer expectations. Service failures are profoundly different to product failures in that service failures are far more personal with psychological outcomes. In the event of a service failure, customers will often seek to attribute blame.
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.