It is only aversion to reasonable business risk that is a problem. When a business leader complains of excessive risk aversion in his staff, the underlying concerns are frequently personal. Continue reading →
The best way to get through this crisis is not looking so much at how you are going to survive it, but how you are going to help your customers survive it. Also, the only way through this crisis is through innovation.
Even though Japanese prime minister Shinzo Abe now has the power to enact a state of emergency, he has hesitated doing so citing lack of evidence so far for meeting the conditions. Yet lack of evidence and evidence of lack are not the same thing, and you need not make the same mistake in leading your business.
Risk and risk perception are rarely equivalent, but if you lead an organization, yours must be one and the same.
I write this as worldwide cases of coronavirus surpass 10,000, most of which are in China, and are certain to rise. While a frightening pathogen to be sure, the fears that coronavirus has provoked in people in other countries are beyond rational, as are the changes in their behavior.
Artificial intelligence and expert systems in business can increase organizational capability, but at the same time, despite hype and promise, they are no silver bullet and can also dumb your organization down.
Fairness is not about equity of treatment. It is about equity of opportunity to exercise one’s talents. You can play favorites and there is nothing wrong with doing so, as long as it is the excellent that you favor.