Decisions – By blinks and blinkers
Life is a process of mistake- making and calling it experience… Well, I knew that for sure but every now and then keep getting confirmations of wrong roadmaps of growth. My interaction with young budding managers at a leading institute or an upcoming successful IT geek entrepreneur endorses it further.
Most people learn by making wrong decisions and managing change. The difference in approach is not a matter of people choosing one analytical tool or planning one business model over another. The difference comes from understanding fundamental, implicit assumptions of strategy of growth.
The conventional approach is staying ahead of competition. Strategic logic would be not to be bothered about matching or catching up on rivals but to focus on consensus building of stakeholders and strategic logic.
The five dimensions of conventional strategy are Industry assumptions, Strategic focus, Customers, Assets and Capabilities and the last Product and service offerings will continue to be the same though value innovations logic definitely needs rethinking and remodeling time to time.
June 16th, 2009 at 10:06 pm
hi..
i m sure whtever u have written is meaningful.. but unfortunately lesser mortals like me cannot fathom a word of it..
can i get a simpler version of this .. or rather in simple english with smaller sentences..
well i need to redo my english classes i guess
June 16th, 2009 at 10:11 pm
I see that this post is inspired by our meeting yesterday
I guess you should write more about “The five dimensions of conventional strategy”
PS: Minal stole my words here
June 17th, 2009 at 12:45 am
Hi Minal and Abhishek,
It s more management than English. The simpler version is to understand where you are and where do you want to be in Business. How to reach there is Strategy of growth. Beating competition and finding your niche’ is Value innovation Logic.Sit with five dimensions aand do a business check list of yours
July 8th, 2009 at 12:34 am
There is nothing wrong of right in business decision making, each decision can turn out to be disastrous or fruitful depending upon innumerable situation a factors, as every decision is based on certain assumptions involving probability of events.
When something goes drastically wrong, people do autopsy and come up with findings of what could have been done better or what went wrong, and call it learning. Ironically the word “learning” doesn’t hold true for most decisions as each situation is unique and not necessarily replicable.
I believe the most important factor for improving the likelihood of success in a business decision making is application of sense and common sense, let jazzy research and bookish processes not replace common sense. It pays
July 15th, 2009 at 7:14 am
well enterprenuarship is more about a gut feeling and to believe inner instinct, india as a nation has more family run business and our role models has been tata birla and ambanis who have got sucess my their sheer gut feeling and make system as they want to.. and reason for this is the highly volatile factors affecting the success of a business and at that tiome organization without strong organization structure has no option then going with the instinct of a leader leading at that moment. its important to understand that to make a company work for years its necessary to continuosly work towards strong organisational structure and put system in place which work for ever. best example in front of us is infosys. now this company runs because nrayanmurhy has made orgnanisation self reliant, the company does not require his service for running it now though he is founder because system is place for everything an organisation needs to do
July 30th, 2009 at 7:35 pm
Life is also a process of discovering the lost touch, and in fact so much of the learning in A Business School takes place from the mistakes of others. Few value and care to take a learner in the domain of “Making Mistakes”, which are fruitful rather, still the stress is on bringing out the same aspects or the missed ones in a session.
May be the conventional strategy still works for most, but later if not sooner “Game changers”, will change the course and make certain aspects redundant.
August 31st, 2009 at 1:47 am
A very good post… I undersatnd what you say. It is very to experience this to understand then reading a management book.
All my years working i have learnt one thing, “Its not always about taking right decisions, it is also about not taking the wrong ones.”