economy posts

Taming the Elephant in 2011

2010 has been the year of the great stall. The world marketplace has shifted dramatically, and our society can’t stop talking, reading, and writing about it. Yet many of us haven’t gone much further than talk. We haven’t done anything yet. The decisions, changes, and actions needed to actually deal with the new marketplace have been missing in action.

Why doesn’t anything seem to be happening? Fear — that insidious feeling that grips the gut with unrelenting tenacity has been ruling the day.

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Have we entered a New Normal? Hardly.

I have a bone to pick with the phrase “The New Normal” and how frequently it’s being tossed around these days. Yes, we’re emerging from a disastrous global economic crisis. In the aftermath of a tsunami, it’s tempting to look around and call the new landscape “The New Normal.”

My discomfort derives from the implied assumption that there is a “normal” at all.

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You know the saying about assumptions. Why are you still making them?

Assumption testing has always been important in organizations. Right now, however, it’s more critical than ever. Markets are evolving so fast that the wrong assumptions can be fatal.

Worse yet, an organization’s inability to routinely identify and test assumptions is a cultural defect that can be very difficult to correct.

Rick and I often see this problem when we participate in leadership meetings held by our clients. During these meetings, we frequently hear executives mistakenly state assumptions as if they were facts.

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