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Corporate Innovation
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Open & Honest TradingAt NeQstep, we understand that your invention is important to you and not only for the value you hope to realise from it but also because you may already have spent a considerable amount of time nurturing your idea to get it this far - in fact, Nick (our Technical Director) likens his inventions to children. So, we appreciate that giving up any part of your idea is difficult and we hope that by working in an open and honest environment with like-minded individuals we can make this process a little more palatable. After all, I think most people will agree that it is better to own a proportion of something than all of nothing!The Prisoners DilemnaOriginally framed by Merrill Flood and Melvin Dresher working at RAND in 1950, but named by Poundstone in 1992:"Two suspects are arrested by the police. The police have insufficient evidence for a conviction, and, having separated both prisoners, visit each of them to offer the same deal. If one testifies for the prosecution against the other and the other remains silent, the betrayer goes free and the silent accomplice receives the full 10-year sentence. If both remain silent, both prisoners are sentenced to only six months in jail for a minor charge. If each betrays the other, each receives a five-year sentence. Each prisoner must choose to betray the other or to remain silent. Each one is assured that the other would not know about the betrayal before the end of the investigation. How should the prisoners act?" The best outcome for the team is for both prisoners to remain silent however this is often not the case because the prisoners have been separated and cannot therefore see how they are reacting. This would, of course, be a much easier decision for both prisoners if they were able to communicate. At NeQstep, we feel that this simple logic should be applied in business. If you can be confident that everyone else is dealing fairly, you are more likely to deal fairly yourself. To promote this practice we have a keen focus on communication for each of our projects, whether it be by phone, email or in person! Making the Finances AvailableAll early project accounts are managed using spreadsheets, recording income, expenses, and any liabilities. These spreadsheets are available to all team members 24/7 via the Client Log In on our website. This area is password protected and the accounts are normally updated fortnightly, however this is dependent on the activity on your project. |