So when times are tough, when costs rise and income falls what do you do?
Do you cut back, conserve what you have and wait it out?
Do you ignore it and hope it won't affect you?
Do you innovate and become even more creative to find alternatives that work under the new conditions?
The first two are quite natural reactions. When something that frightens us approaches it is quite natural to either retreat or deny (for as long as possible), but the fact that they are natural reactions does not make them the right reactions in business.
A recent study by the University of Cambridge shows that success leads to greater boldness (and potentially to over reaching), while poor performance can lead to conservativeness. According to the study these are hormonal responses where success leads to higher levels of testosterone promoting higher levels of risk taking and fear leads to higher levels of cortisol and more caution.
Our hormonal responses evolved over millions of years to help us deal with the conditions we experienced at that time. When we were hunter gatherers these responses would have been entirely appropriate, but are they still appropriate in our modern society?
If we retreat when conditions are challenging we may actually be increasing the risks rather than reducing them.
For example if many people respond by retreating out of fear of crisis that alone will create a crisis.
If the market changes and what we have been doing is no longer appropriate for the market, then might it not be better to do something that is appropriate for the market, rather than just less of what is not appropriate.
As leaders our role is to predict and preempt crisis with new strategies for success, not to wait for it to hit and then retreat to a less painful place.
Those who succeed in challenging times are the ones who seek out and create opportunities.
This means investing time and energy in creative meetings to find opportunities that your existing assets can service under new market conditions. Rather than investing time and energy in meetings to work out who to make redundant.
If you want to have a chat about how to design effective creative meetings give me a call.
nx
neil crofts
authentic transformation
www.authentictransformation.co.uk
neil@authentictransformation.co.uk
+44 7775 658534
1 comment:
Interesting comments, and it raised fundamental questions about what leadership will be required in future to deal with global problems and challenges.
Old models are being updated or replaced. The anglo-american and western dominance of world affairs is coming to an end, and with it the reliance on leader personality, competitiveness, extroversion, impact and a belief in the free market.
It will, over time, be replaced with a more honest and 'authentic' style, with collaboration at its heart. A balancing of feminine and masculine energy, and the gradual equalisation that began many years ago is achieved.
Where will these leaders come from? The unlikliest sources and from humble beginnings. They will, for sure, be authentic but they won't recognise the term. They won't come from Harvard or Yale, and they will be bemused by the reaction that they will generate (disbelief, fear, vehement hatred). They will need high levels of resilience and the ability to integrate and bring disparate groups together, and an inherent courage to face up to what will be asked for them.
This will be the constructive revolution that drives the balancing of the worlds energies. Non-violent but not necessarily 'peaceful' as old institutions crumble and fade away.
We must thank the last leader generation as they hasten and speed up the need for change. And we must pray for the new leaders, and get out of the way while they do their work.
Feedback and comments are welcome!
Phil Roberts
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