Decision-Making in a Time of
Uncertainty
by Jeff Shuman & Jan Twombly
Some people have trouble making decisions. No, we're not
talking about Geminis. We're talking about the folks that are
fearful of making the wrong decision so they simply put off making
any decision. It's not that making decisions is necessarily easy.
After all, consultants have built an industry around helping
people learn a decision making process. However, in the current
period of uncertainty, the ranks of businesspeople unable to make
decisions have grown significantly. It's as if they are waiting
for the economic and geo-political turbulence to end so things can
settle back down to how they used to be.
What these folks don't fully appreciate is that there's no
going back to the way things used to be. Leaving beside the
geo-political turbulence, which we have no control over, the
global business economy is undergoing a transformation from an
industrial age mindset to a relationship-based mindset. And if you
are unable to make decisions while treading water waiting for the
good old days, you are unable to move forward. And if you are
unable to move forward you will not be successful.
So, how do you do it? How do you develop the ability to make
decisions? Our approach to decision making is rooted in the
ability to distinguish between black, white, and gray. Let us
explain. When we see decisions as black or white, it's easy to
make a "go" or "no go" decision. In contrast, when we see things
as gray it's hard. When we see things as gray, our focus is on
getting more information so that our decision becomes black or
white. Of course we are not saying that one shouldn't seek
additional information. We should. But what we are saying is that
the quest should not be for "perfect" information, so we can make
the "right" decision. We will never have all the information we
need. We never will know our customers or our business or the
world around us perfectly. There always will be gaps. The primary
reason for pursuing information should be to prepare a framework
for making decisions.
Full
Story
|
| |
Modest earnings upticks by bellwether stocks are one sign
that the marketplace is starting to raise its sights beyond
day-to-day survival. However, smart companies recognize "a
fundamental shift," as a recent IBM ad says, to "a new world
of business." We call it the emergence of relationship
business - the essential discipline for success in what will
remain, for the foreseeable future, a time of uncertainty.
"Look around and you can see why," the IBM ad continues.
"Market fluctuations are getting harder to predict,
forecasting can't be counted on, customers are becoming more
empowered, more impatient, more demanding." We couldn't
agree more. That's why the transformation to relationship
business is imperative - it enables companies to measure and
manage all forms of value while making informed decisions
with imperfect data. Let us know about your thoughts
and experiences - and as always, keep on dancing!
- Jeff,
Jan & The Rhythm of Business Team
|
|
|
|
| Alliance Workshop Series Continues in U.S. after
Successful London Debut |
| |
 After a successful debut in London on April 15,
Boston (May 15) and then Atlanta (June 24) are the next
stops for our new workshop series, "Measuring and Managing
the Value in Every Alliance Relationship for Strategic and
Financial Benefit." Offered in collaboration with the
Association of Strategic Alliance Professionals (A.S.A.P),
the workshop focuses on how the discipline of relationship
business can help companies consistently demonstrate
alliance results that impact the bottom line and focus their
efforts on alliances and partnerships that deliver the
greatest benefit.
The first workshop, hosted in London by Cable &
Wireless plc on April 15, 2003, gave participants an
opportunity to apply the tools of relationship business to
cases drawn from actual situations - including their own
businesses. ""Superb day - learned loads. Thanks a million!"
commented workshop attendee Adrienne Rutherford, an Oracle
Corp. alliance manager.
Click here to learn more or to sign up for
our Boston, Atlanta, San Diego, or Houston workshops.
|
|
| Jan and Joy to Lead May 22 Tech Executive
Roundtable Discussion |
| |
The Rhythm of Business' Jan Twombly, co-founder, and
Joy Thompson, principal, will lead a May 22 roundtable
discussion with the Massachusetts Software & Internet
Council and the Association of Strategic Alliance
Professionals (A.S.A.P.). The discussion will focus on "How
to Build Alliances and Partnerships to Open New Product
Markets and Grow Revenue."
Joy - acting in her capacity as New England chapter
president and a director on the A.S.A.P. global board - will
moderate an expert panel grappling with the topic of
"Alliances - A 'Death March' Venture or a Viable Means of
Opening New Markets?" Jan then will make a keynote
presentation on "The Link between Entrepreneurial Thinking
and Alliance Management."
|
|
| Free Copy of Our "Absolutely Fantastic" New White
Paper |
| |
To receive a free copy of our recently published
white paper, "In Pursuit of Value: The Principles of
Relationship Business" by Jeff Shuman and Jan Twombly,
simply e-mail us at info@rhythmofbusiness.com. "I
thought the paper was absolutely fantastic," commented James
Sison of One Economy Corp.
|
|
| Visit Our New Web Site |
| |
The Rhythm of Business Website, www.rhythmofbusiness.com ,has just
been updated with entirely new content, including a wealth
of in-depth information and insights on the latest
developments in the discipline of relationship business.
Please visit and let us know what you think.
|
|
| Take Our Relationship Business
Assessment |
| |
Is your company relationship-focused? Give your
organization a "reality check." Completing our Relationship
Business Assessment provides you with an immediate view of
your company's relationship business readiness. Visit www.rhythmofbusiness.com/Resources/
Assessment.asp.
|
|
| Want to Contribute to "Pursuing
Value"? |
| |
 We welcome third-party contributions to "Pursuing
Value: The Newsletter for Relationship Business." If you'd
like your article or a "Letter to Editor" to be included in
an upcoming issue, please submit it to us for consideration
with an email to info@rhythmofbusiness.com.
Do you know someone who would be interested in
receiving this newsletter?
Please forward using
this link.
Send Page To a
Friend
|
| |
