DB_FPX8400_MonicaGarcia_Assessment1-2

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Feb 20, 2024

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Ontological Humility By Monica Garcia March 1 9 7 , 2023 DB-FPX8400 - Your DBA Journey Jason Sheedy

Ontological Humility In recent years, a significant shift towards acknowledging the importance of ontological humility has emerged across various academic disciplines. The concept entails recognizing and accepting the limitations in comprehending reality and existence. Leading philosophers and cognitive scientists contend that embracing this mindset is critical to ac curately representing reality while formulating comprehensive theories about the world. As such, an emphasis on cultivating ontological humility has become increasingly pivotal within scholarly circles as we seek to expand our knowledge base through rigorous research and empirical evidence-based practices. D isciplines like philosophy and science must maintain a comprehensive approach to representing the world accurately. To achieve this goal, individuals must develop diverse perspectives and avoid skewed perceptions at all costs. Neglecting this aspect could have disastrous consequences on any business as it may lead to unprofitable outcomes that ultimately cause its downfall. Professionals who hold critical positions in their respective industries must recognize the limitations of their knowledge and actively seek out alternative viewpoints before making decisions that have far-reaching implications. Keeping this objective in mind, this paper aims to academically explore ontological humility - a concept that deserves further examination across diverse academic and professional domains. Ontological humility challenges the notion that knowledge is absolute and complete, emphasizing that our understanding of reality is constantly evolving and subject to revision. This concept is based on the idea that our perception of reality is influenced by various factors such as cultural background, personal experiences, and cognitive biases. Therefore, the belief that our understanding of the world is limited and subject to change is crucial for accurately representing reality. This concept challenges the traditional 2

notion of objectivity and highlights the importance of acknowledging the limitations and biases that influence our understanding of reality. There is a growing recognition of the need for ontological humility in many academic disciplines. Ontological humility is the belief that one's understanding of the world and what exists is limited. Philosophers and cognitive scientists believe that making this assumption is essential for accurately representing reality and developing and testing theories about the world. This is especially important for disciplines such as philosophy and science, aiming to represent the world accurately . Ontological Humility Introduction Cognitively speaking, ontological humility involves two related processes. The first is the recognition of the limits of our cognitive resources; for example, we can recognize how we can only perceive part of the information available in the world and that we can only understand a small amount of the world using our existing knowledge. The second is our ability to compensate for these limitations by using other sources of information that are not available to us directly. For example, when we observe something we are unfamiliar with, we draw on our knowledge of other similar objects to make inferences about what we observe. This ability to compensate for 3

our limitations is an essential part of human cognition that allows us to navigate the world around us. Scientifically speaking, ontological humility involves constantly searching for new evidence that can help us refine our theories and update our beliefs about the world. The growth of scientific knowledge is an iterative process in which one theory replaces another when it can be shown to explain a broader range of phenomena than the previous theory. However, it is essential to remember that each theory is an imperfect representation of the world; there will always be gaps in our knowledge that we cannot fill with existing approaches. For this reason, it is essential to remain open-minded about new ideas even when they contradict our existing beliefs. Cognition Cognition Differentiation and Integration Cognition differentiation refers to the ability of individuals to identify and differentiate among different types of information. It is often seen as a critical ability for learning and problem-solving. Examples of cognition include memory, problem-solving, decision-making, and critical thinking. [1] According to the information found in the Reflective and critical thinking in the nursing curriculum , t T hese abilities help people think critically about the world and make effective decisions. In contrast, integration refers to combining multiple sources of information into a unified whole more significant than the sum of its parts. This skill is critical to lifelong learning and successful decision-making. Integration involves analyzing many facts and data sources and then 4

integrating them into a coherent picture. Understanding and integrating diverse information types is crucial for individuals in today's complex workplace. Individual differences in cognition have been well documented across multiple domains, including memory, attention, language, and learning. Research suggests that people use different strategies to process different types of information. Some people rely on a more analytic approach when solving problems or making decisions, while others rely more on an intuitive, creative system (Mokheith &Thetsane, 2019). Differences in individual strategies can affect the way we interact with the world around us and make decisions about our lives. Learning and cognitive strategies depend on the individual's personality and level of motivation. People with different personality types may learn and respond to information differently. For instance, introverted people process information more thoughtfully than extroverted people. Extroverted people, on the other hand, are more likely to make quick decisions based on their feelings rather than careful analysis. Introverts and extroverts tend to use different strategies for learning and decision-making. Business Model Innovation For a long time, marketing and business have used the term business model innovation. It's the process of developing new ways to generate revenue for a company. Generally, it focuses on generating revenue outside of the company's traditional product or service offerings. You can use a lot of different business models. Each type of business model has its advantages and disadvantages. The first type of business model is the traditional business model. This is the type of business model used by most businesses in the past. Companies using this type of business 5

model mainly focus on making money by selling products or services to other businesses or consumers. This type of business model can be hazardous for the company as there is very little diversity in the revenue streams of the company. The second type is the sharing economy business model. This relatively new business model has become very popular in recent years. It is based on collaborative consumption, where people share their resources to make money. . Assumptions Needed to Answer the BMI Questions Green and Kegan (2019) suggest that competitiveness can be better understood through an alternative framework, highlighting the importance of profoundly implanting new advantages within a company's organizational structure. This perspective emphasizes the pace at which these advancements are made as a critical factor in achieving competitive advantage. (p. 519). Hamel and Prahalad's framework, commonly known as the core competency concept, plays a crucial role in shaping businesses' competencies by enabling them to benefit from their unique strengths. This approach also allow s companies to expand their reach into new markets with excellent growth potential. The competitive advantages of an organization hinge on its ability to effectively leverage its key attributes or core competencies. Thus, success depends on how well firms identify and nurture these fundamental capabilities. Ultimately, the primary objective of cultivating such competencies is for organizations to assess emerging markets' competitive dynamics and attractiveness with greater accuracy and insight. As the global economy becomes increasingly knowledge-based, a nation's success is contingent upon its willingness to take risks in creating and assimilating new ideas. It is essential to acknowledge that countries can only excel in some industries; instead, they must strategically focus on areas where they have a competitive 6

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