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Three powerful stories
1. In 1976 the Olympics were held in Montreal and cost so much the remaining debt was only paid off by 1993. The financial load on the city was enormous. After that no city or country wanted to host the Olympics. They were held in Russia in 1980, but of course they had a different accounting system. The International Olympic Committee was having trouble finding a city and country host for 1984. When the city of Los Angeles decided they would act as host, stipulation was made that no local funds would be used. Peter Ueberroth, as person in charge of the Los Angeles games, developed a totally new way of thinking about financing the Olympics. For the first time in history, the Olympics made money. Asked how he came up with these new ideas, he attributed the results to Edward de Bono's Lateral Thinking tools.
2 . Life insurance is a very traditional industry controlled by tradition and regulations. One day Ron Barbaro, then chief executive of Prudential Canada, visited a friend who had a terminal illness. His friend indicated he had an insurance policy of $20,000 but it was of little use. Barbaro, a strong advocate and user of the lateral thinking tools, and concerned about the fate of others like his friend developed a whole new form of insurance using Provocation, one of the lateral thinking tools. The provocation he used led to the development of 'living benefits'; any policy holder who falls sick with a terminal illness is immediately entitled to 75 per cent of the benefits that would normally be payable on death. The concept was a big success in the industry and imitated by many. It turned life insurance partially into catastrophic health insurance. Ron Barbaro was soon chosen to be President of Prudential Insurance (USA).
3. In 1983 Australia was about to challenge the United States in the America 's Cup, the famous international yacht race. The United States had held the cup for 130 years having never been defeated. John Bertram, head of the Australian syndicate and skipper of the Australian yacht used Dr. de Bono's lateral thinking tools to redesign the keel and sails of the challenging boat as well as the training methods of the crew. The Australians won! Bertram also indicated in the next challenge race four years later, the Australians did not use the lateral thinking methods. They lost!