the main point of the chapter

The most complicated three terms

The most complicated three terms are described in Levitt and Dubner’s book Think Like a Freak. Specifically, the scholars argue that the sentences “I don’t know” are deeply disturbing in the English language. Furthermore, the refusal to utter them more often may have far-reaching consequences. Dubner talks with Amanda Waterman, a developmental psychology scholar at the University of Leeds (Levitt & Dubner, 2016). He claims that studies have shown a widespread unwillingness of people, especially children, to say “I don’t know.” As a result, he concluded that the majority of teenagers are arrogant and believe they have the answers to intractable problems. Consequently, most of the adults mature with the same behaviour. They are reluctant to speak of what they do not know. Therefore, most people are likely to make poor decisions because they try to conceal the issues that they do not understand. For this reason, the authors encourage people to be open to explain what they do not understand. Similarly, they should confirm facts even where they believe they have the solutions (Levitt & Dubner, 2016).

Relevance to our course topic (Revenue Management)

The book is very important in revenue management because it is essential for business to admit that they do not know certain issues in order to avoid losing revenue. If a company especially one that participate in multinational trade, it should use the three words aiming to understand proper practices of sales management for higher revenue (Levitt & Dubner, 2016). In addition, the book is relevant to the course because it encourages businesses to seek proper strategies in business. In this regard, they should understand appropriate designing marketing, and manufacturing strategies that can boost the company’s financial capital (Levitt & Dubner, 2016).

References

Levitt, S. D., & Dubner, S. J. (2016). Think like a freak. Noura Books.