Occam’s Razor for Business Problem-Solving and Decision-Making

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What can a medieval English friar teach businesses about decision-making and problem-solving? Perhaps quite a bit.

William of Occam was an English Franciscan friar and philosopher who lived from 1287 to 1347. Perhaps his most famous contribution to philosophy (and a variety of other fields, such as mathematics, biology, religion, and others) is what has become known as Occam’s razor.

The principal is usually stated as: “Entities should not be multiplied without necessity.” Put another way: “The simplest solution is most likely the right one.” The idea is that as more inputs, assumptions, or dependencies are added

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