Monday, July 16, 2007
blog
There are several types of improvements.
1) Nominal improvement.
This type of improvement is perhaps the easiest to achieve. In essence, nominal improvements are in fact just any kind of improvement. As long as something changed for the better, we can perhaps say that it has improved nominally. This kind of improvement is a good yardstick for moral advancement.
2) Real improvement.
In this case, an improvement is only considered as one when you improve more than others relatively. That means, if others improved by 3%, you must beat that figure in order to be considered as having been really improved. This type of improvement is most prevalent in schools and the job market. Any nominal stagnation will result in real regression.
3) Compounding improvement
Sometimes people are greedy. They demand improvement over improvement. Last year you improved by 3%? You better improve on that figure. Make it 5% this year. Most prevalent in the stock market and corporate targets. Any slowdown in the rate of improvement is considered as deterioration. Most difficult to achieve out of the 3 types due to the nature of things not being able to support an infinite exponential or geometric growth.
shermon blogged @ 6:11 pm
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