We hear about stories on the Internet, radio and television that refer to fake news.  What is fake news and how does it relate to our business? I have come to believe that fake news is made up information often for a political reason and should not be confused with incorrect news reporting and analysis. 

Recode recently ran an article about how Walmart was engaging in aggressive tactics to more effectively compete with Amazon prices both in the store and on Internet. (http://bit.ly/2nA1Fhh  ).While price is not always the only way to get customers, low prices are effective. When you go to buy gasoline and see three gas stations posting prices, and one is three cents lower; which location snags most of the cars.

I have written in previous blogs about how many tasks are becoming automated and having a profound effect in the workplace and society. Last fall the Washington Post published an article about how many political races were reported using automated technology (http://wapo.st/2pIO47B  ). The article is worth reading. In summary, it reports than an algorithm has been created to generate stories from Internet content and produce it in written form. An editor or writer may easily add analysis. A program like this, while in its infancy, eliminates the need for low-level research assistants and basic writers.  It means that automation is affecting an area where you think it wouldn't have any influence.  A key principle to keep in mind is that in business if something can be automated, it likely will.

The post office is one of the oldest institutions in America founded in 1789 as a government monopoly.  Benjamin Franklin added postmaster to his long list of activities.  Years ago in my corporate work, we received several bags of mail early each morning to be opened and sorted. Employees pulled out checks and deposited them, processed invoices for payment and prepared correspondence. Before I left the corporate position, there was movement to invoice clients electronically and receive payments by wire which reduced paperwork and postal mail.

A number of years ago I wrote about how clinics use overseas radiologists to review their X-rays. Philippine radiologists could read X-rays and file a report more quickly. Some saw this as sub-standard care; others believed this was a lower cost improvement in service. My perspective is that in low-demand locations such as small hospitals in rural settings, it is not logical to employ an all-night radiologist to read one or two basic X-rays. In a complicated medical situation, an on-call doctor can come in and work through it. Regardless of our personal preference, this trend continues to advance.