A Brave New World

This week the World Economic Forum kicked off in Davos – and as always, we will be following it with interest and alerting our clients and readers to interesting forums and discussions.

Not coincidentally, this is also the week that we are launching our new “Brave New World” initiative. The tough economic times continue to a greater or lesser extent depending on your perspective (country, industry, region, …) and we believe the green shoots are showing or about to show. The biggest challenge many organisations face is that the business environment has changed fundamentally but many are still looking in the rear-view mirror to plan the road ahead. Coupled with that is that many are also in survival mode – with a strong internal focus on cost containment.

Resources tend to be stretched especially at executive level and although we know we should be considering the broader trends and fundamental changes that have been happened, we seldom give ourselves the opportunity to read and absorb some of the material out there (such as is coming out of the World economic Forum) – to say nothing of sitting down as an executive team to discuss the implications and opportunities for the organisation.

The BraveNewWorld challenge is to change this mindset in your organisations (if it exists) and proactively look at the new “world” you will be facing, with a perspective of seeking opportunities and growth. Taking the time out to assess the future NOT through the perspective of the rear-view mirror, but from the perspective of what the future might look like. Contact me at BraveNewWorld@GenesisMC.co.uk to discuss how we might be able to offer assistance in this process.

Back to Davos, the theme of this years conference can best be described using Professor Klaus Schwab’s words:
“Today, we live in the most complex, interdependent and interconnected era in human history. We are increasingly confronted by major adaptive challenges as well as profound transformational opportunities. This new leadership context requires successful organizations to master strategic agility and to build risk resilience.”

Later posts will discuss specific debates at Davos, but for this first post I should like to bring to your attention the WEF TV channel at http://www.weforum.org/events/world-economic-forum-annual-meeting-2013 . As I write this, I am watching a discussion called “De-risking Africa” with discussions from Clayton Christensen (disruptive technologies) and Global Risks due in the next few hours. Incredible stuff and whether or not you agree with the opinions expressed, it should certainly stimulate your thinking.

And finally, congratulations Charlize on your Crystal Award. Beauty, brains and empathy  …..  an exceptional and rare combination.

 

 

 

 

The error often made by powerful people when taking decisions

Flaws in decision making – the over-confidence of power!

The effect of confidence on taking advice in decision making

Here is an interesting article discussing the level of advice people are likely to take related to the amount of power they perceive they have. It is based on a number of real experiments conducted by the researchers.

In summary, the findings are:

  • People who perceive themselves as wielding power in their own organisation are much less likely to take advice from others when making decisions. This is mainly caused by their level of confidence in their own judgement.
  • This is far more prevalent in men than in women.
  • In the experimental cases, the results of the decisions of the more powerful (and took less advice) groups were less accurate than those groups who considered external inputs.
This reminds me about the findings from Surowiecki’s famous book “The wisdom of crowds” which postulates (and goes some way to proving) that in many cases large groups of people are smarter than a few experts. However, we accept that in many cases, leaders do not have the time (or for other reasons) to tap into large crowds – but that does not mean they should shun all advice. At Genesis we have designed a tool that is perfect for the task of gaining input to strategic decisions: INSTRAT (see below for more details).

 

 

 

(Or see our “Decision Shop” for a special offer on initial use of the tool).

 

If you would like to discuss this topic with us, drop me a line at sgifford@genesis-esp.com and we can arrange a no-obligation Skype call.

 

The 7 Habits of Highly Effective Decision Makers

The 7 Habits of Highly Effective Decision Makers

Why do strategic decisions go wrong? What are the consequences? What distinguishes the great decision makers from the rest of the pack?

Get the answer to these questions and more from this original and entertaining presentation that discusses the 7 habits of highly effective decision makers. The presentation is being followed up by a series of articles that will give greater detail, more examples and actionable techniques to help you and your organisation “improve lives through better decisions.” Subscribe to this blog (see bottom of page) to ensure you do not miss any of them.

The 7 habits of highly effective decision makers

Note: if you would rather not download the presentation, you can view it at:

Slideshare,  or

YouTube    (accompanied by “Changes” by David Bowie)

If you would like to purchase a narrated version of the slideshow where each page comes with a more detailed commentary, please visit our “Decision Shop”  We are available to make this presentation to members of your organisation where we will elaborate on the presentation with further details and examples. Contact Simon Gifford at sgifford@genesis-esp.com to make arrangements .

Talks, lectures and training

Talks, lectures and training

The Genesis Management Consulting page on talks, lectures and training has been updated.

In addition to consulting, we also assist our clients in improving their decision making and problem solving capacity through a number of education-based mechanisms from intense in-house training through to simply giving a talk at their annual conference. We pride ourselves in presenting “differently” using highly visual techniques, optimal audience interaction and in an entertaining and engaging manner.

For a list of the types of training, workshop or presentation we are able to offer, click on the following link:
Talks, lectures and training