In the face of an uncertain situation, it is not easy to dare to take a different approach and take the initiative to attack. If you don't have this kind of courage, don't be too self-blaming. To accept this reality, the work experience of burying your head all the year has made you not used to looking up, not to mention your own imagination and thinking about how to lead the industry.
According to my observation, the following are the main factors that will affect people's insight and decision-making ability: too obsessed with the existing core competitiveness, unable to build new core competitiveness, key position leaders have fallen behind, fear, avoid conflict.
1. Being too obsessed with existing core competitiveness
Many people have a kind of delusion and think that they are superior in strength and will continue to be brilliant in the future. Indeed, they contribute a lot to the company's performance and are the main contributors to the company's success in terms of market share and profitability. But people can't lie on the credit book for the rest of their lives. As the company grows, they may become irrelevant.
The CEO of Kodak was the example of this. At that time, he still focused on the core film business. He spent a lot of energy on developing the Chinese market. Although he has a semiconductor background, he paid little attention to digital imaging technology, which eventually led to Kodak missing the opportunity of industry transformation and finally being eliminated by the market. .
The same was true of IBM CEO John Akers in the early 1990s, too much indulging in the company's past core competencies – the mainframe. Its successor, Lou Gerstner, did not repeat the same mistakes. He led the company from a focus on hardware to a gradual extension to software and services, reshaping a new pattern of market competition.
Not only will core competitiveness be a hindrance to progress, but sometimes, the long-term relationship with suppliers and distributors will keep you behind. These relationships often go through many years of ups and downs and are critical to the company's past success, so that sometimes changing partners has become a taboo topic.
For example, Microsoft and Intel, the two have teamed up to create a brilliant personal computer era, but in the era of mobile Internet, the two are still lacking.
2, unable to create new core competitiveness
If you don't believe that you can say goodbye to the past, open up the future, and create new core competencies, then you will only make small repairs based on existing capabilities, and it is difficult to make a difference.
Many business leaders themselves lack the experience of casting new competitive abilities, so they take it for granted that this is impossible. However, this is precisely the secret of the successful transformation of large enterprises.
For example, the GMR Group in India. This is India's largest infrastructure construction company, headquartered in Bangalore, with annual sales of $10 billion, most of which comes from new areas that they had little known before. At first, this is a company known for its banking business, but when its leaders saw the lucrative benefits of operating power plants and airports, they made decisive decisions, withdrew from the banking industry, entered the field of infrastructure construction, and hoped to use the Indian economy. The overall good momentum is good, and it is on the way. However, the new road is not always smooth: in 2012, the GMR was hit by the tight capital chain. The main reason is the uncertainty of government behavior: on the one hand, the shortage of coal and natural gas caused by policy reasons, the power generation is frustrated; on the other hand, the government delays payment in airport operations. As a result, GMR saw a huge risk of relying too much on the government, so its leaders are looking for new directions. But no matter what, they are confident in themselves, believe that their rigorous approach can find a more attractive development path, and believe that they have the ability to build any core competitiveness they need.
3. Leaders in key positions have fallen behind
Sometimes, when a new direction of development comes in front of you, you don’t even think about it, you just put it into the cold house in the subconscious. The reason is that you believe that the current team does not have the necessary practical experience and professional skills to manage new challenges.
For example, the transformation of traditional retail enterprises may need to rapidly advance digital transformation and enhance their capabilities in big data and algorithms. If the action is slow, it may seriously affect the future of the company. So the problem is coming. Some executives have done great things for the company in the past, but they obviously can't adapt to future requirements. What should these people do? Who is willing to kick those who have helped themselves in the past? In terms of reason, the conclusion is obvious; but in terms of emotion, it is inevitable that people are entangled. This kind of entanglement is an obstacle in itself. In the face of such problems, sometimes you have a glimmer of fantasies that people can change. Indeed, people can learn and change, but the question is how fast the change can be. Faced with such a dilemma, a few people can make the right choice, but many people can't do it.
The obstacles in terms of talent must be faced directly, and you must not let it go, let it disturb your thinking.
Zee Entertainment Industries Ltd. is the largest media and entertainment company in India. The company not only vigorously recruits “indigenous people in the digital ageâ€, but also entrusts them with the responsibility of participating in the company's most important key decisions with those who grew up in the film era. The move did raise some criticism, but the company's chairman, Subhash Chandra, was unmoved because he knew that companies had to inject new blood to regain their lives. He said: "We must take the initiative to self-renew; it is too late to wait until we have to change it." It is his purpose to take the initiative to attack and change in the middle.
4, fear
Although corporate leaders are all confident, many people are full of fear. They are afraid of making mistakes, fearing ugliness, fearing that others will disdain their decisions and words and deeds; and more fundamentally, they are full of fear of the unknown. In the current era of change full of uncertainty, this inner fear is increasing.
Of course, fear is not always a bad thing, sometimes it helps us to do better.
For example, Intel Corporation founder and CEO Andy Grove said in his book that if you stay alert to potential threats that could disrupt the industry, you can broaden your thinking and confidence. However, if you are caught up in the fear of the subconscious and cannot make a correct judgment, then you will be at a loss when faced with risk. Proactive attack will be risky, but it is by no means a reckless act of making a head and doing things without considering the consequences. Only by daring to face the fear of the heart can we make our judgments more accurate, think more creatively, and act more decisively.
In India and other emerging markets, the laws and regulations there often change and change, and the uncertainty is particularly strong. For example, in the early 21st century, the Indian government said it would allow foreign insurance companies to increase their equity cap in the Indian joint venture from 26% to 49%. As a result, foreign insurance companies have accordingly made corresponding strategic arrangements. As a result, this adjustment has not been implemented, causing some foreign companies to leave the scene, including the New York Life Insurance Company. It was not until 2014 that Indian Finance Minister Arun Jaitley officially announced that the foreign insurance company’s equity ceiling would increase to 49%. In March 2013, the Indian Insurance Regulatory and Development Authority (IRDA) issued very strict regulations that have a major impact on business details such as product design and policy payments, and only gave insurance companies 6 months to do the corresponding Strategic Realignment. Also at the same time is the Vodafone tax event. Shortly after the Indian Federal Supreme Court suspended the tax authorities’ tax penalties for Vodafone, the Indian legislature voted to pass a $100 million tax on Vodafone. These government initiatives have led to a decline in foreign direct investment in India. It is not difficult to understand that these events will make people feel anxious and fearful.
Some leaders are psychologically strong enough to be fearless in the face of unpredictable things. The Indian Max Group is a corporate group headquartered in New Delhi with annual sales of billions of dollars and operations in a variety of industries, including the insurance industry. Its founder and chairman, Analjit Singh, is also a director of Vodafone India. He said: "In the face of such impermanent changes, the company's leadership team must be stronger and more flexible, and must constantly adjust itself to adapt to market changes.
Denying uncertainty can only be counterproductive, making you more fearful and causing a series of problems, such as fleeing escape, emotional out of control, or turning a blind eye to bad news, and blaming others for everything. American Luosheng Consulting provides executive search and evaluation services to its clients. Dean Stamoulis is the head of his global leadership and succession planning business. He found that people with fear and insecurity have a "victim" complex, "everything is always accusing others and excusing themselves. Excellent business leaders, never complaining, never shirking responsibility. They dare to take responsibility And self-confidence can solve the problem. In today's era of uncertainty, this trait is especially important. Accusing others is completely helpless and will only make you lose the necessary support."
All in all, be aware of your own potential psychological barriers and be brave enough to embrace uncertainty. The more you can accept uncertainty, carefully analyze its causes, form your own judgments, and actively communicate with others to test your own judgments, the more you can gain more certainty and self-confidence, you will also Therefore, it is full of strength.
5, avoid conflict
The most common psychological barrier in promoting business transformation is that corporate leaders attempt to avoid conflicts and do not want to cause opposition and resentment from others. When a company is in trouble and a business leader decides to lay off a business unit that is seriously losing money, you may not like the decision, but you can understand the reasons behind it. However, if your decision-making is based on the possibility that it has not yet occurred, and others have not yet reached the same level of awareness, it will be very difficult to push the organization to change the established strategic priorities and resource allocation. You have to convince your superiors to fight for subordinates; even CEOs need to win the support of the board of directors, investors and the core team. If you have concerns about this, you will be stuck.
It is very normal to have concerns about this. When you are unsettled and face a fierce political struggle, a strong push for transformation tends to be counterproductive, and even “sacrifice sacrificeâ€. Once a company's COO did not buy the strategic direction set by the CEO, so he continued to speak to the board of directors and publicly expressed his opposition, and also put forward his own strategic proposition. One morning, the CEO announced his resignation after opening the board. The successor is the COO.
What should I do? It is necessary to actively seek the support of leaders, employees, investors, the board of directors and external stakeholders to help them establish a positive attitude of taking the initiative. In any organization, winning a few people can affect everyone - the "98-2" rule, that is, 2% of people can effectively affect the remaining 98%. You have to focus on this 2% of people. It is important to win their support because they have the right to speak and influence. The market trends they see and the ideas they form will become the perception of the entire organization. You need to communicate with them on a regular basis, share your insights, and agree on specific strategic priorities and action plans. If you are a CEO, you should actively report to the board of directors and investors, and reach a consensus and build trust with them. This method is also applicable to enterprise middle managers.
According to my observation, the following are the main factors that will affect people's insight and decision-making ability: too obsessed with the existing core competitiveness, unable to build new core competitiveness, key position leaders have fallen behind, fear, avoid conflict.
1. Being too obsessed with existing core competitiveness
Many people have a kind of delusion and think that they are superior in strength and will continue to be brilliant in the future. Indeed, they contribute a lot to the company's performance and are the main contributors to the company's success in terms of market share and profitability. But people can't lie on the credit book for the rest of their lives. As the company grows, they may become irrelevant.
The CEO of Kodak was the example of this. At that time, he still focused on the core film business. He spent a lot of energy on developing the Chinese market. Although he has a semiconductor background, he paid little attention to digital imaging technology, which eventually led to Kodak missing the opportunity of industry transformation and finally being eliminated by the market. .
The same was true of IBM CEO John Akers in the early 1990s, too much indulging in the company's past core competencies – the mainframe. Its successor, Lou Gerstner, did not repeat the same mistakes. He led the company from a focus on hardware to a gradual extension to software and services, reshaping a new pattern of market competition.
Not only will core competitiveness be a hindrance to progress, but sometimes, the long-term relationship with suppliers and distributors will keep you behind. These relationships often go through many years of ups and downs and are critical to the company's past success, so that sometimes changing partners has become a taboo topic.
For example, Microsoft and Intel, the two have teamed up to create a brilliant personal computer era, but in the era of mobile Internet, the two are still lacking.
2, unable to create new core competitiveness
If you don't believe that you can say goodbye to the past, open up the future, and create new core competencies, then you will only make small repairs based on existing capabilities, and it is difficult to make a difference.
Many business leaders themselves lack the experience of casting new competitive abilities, so they take it for granted that this is impossible. However, this is precisely the secret of the successful transformation of large enterprises.
For example, the GMR Group in India. This is India's largest infrastructure construction company, headquartered in Bangalore, with annual sales of $10 billion, most of which comes from new areas that they had little known before. At first, this is a company known for its banking business, but when its leaders saw the lucrative benefits of operating power plants and airports, they made decisive decisions, withdrew from the banking industry, entered the field of infrastructure construction, and hoped to use the Indian economy. The overall good momentum is good, and it is on the way. However, the new road is not always smooth: in 2012, the GMR was hit by the tight capital chain. The main reason is the uncertainty of government behavior: on the one hand, the shortage of coal and natural gas caused by policy reasons, the power generation is frustrated; on the other hand, the government delays payment in airport operations. As a result, GMR saw a huge risk of relying too much on the government, so its leaders are looking for new directions. But no matter what, they are confident in themselves, believe that their rigorous approach can find a more attractive development path, and believe that they have the ability to build any core competitiveness they need.
3. Leaders in key positions have fallen behind
Sometimes, when a new direction of development comes in front of you, you don’t even think about it, you just put it into the cold house in the subconscious. The reason is that you believe that the current team does not have the necessary practical experience and professional skills to manage new challenges.
For example, the transformation of traditional retail enterprises may need to rapidly advance digital transformation and enhance their capabilities in big data and algorithms. If the action is slow, it may seriously affect the future of the company. So the problem is coming. Some executives have done great things for the company in the past, but they obviously can't adapt to future requirements. What should these people do? Who is willing to kick those who have helped themselves in the past? In terms of reason, the conclusion is obvious; but in terms of emotion, it is inevitable that people are entangled. This kind of entanglement is an obstacle in itself. In the face of such problems, sometimes you have a glimmer of fantasies that people can change. Indeed, people can learn and change, but the question is how fast the change can be. Faced with such a dilemma, a few people can make the right choice, but many people can't do it.
The obstacles in terms of talent must be faced directly, and you must not let it go, let it disturb your thinking.
Zee Entertainment Industries Ltd. is the largest media and entertainment company in India. The company not only vigorously recruits “indigenous people in the digital ageâ€, but also entrusts them with the responsibility of participating in the company's most important key decisions with those who grew up in the film era. The move did raise some criticism, but the company's chairman, Subhash Chandra, was unmoved because he knew that companies had to inject new blood to regain their lives. He said: "We must take the initiative to self-renew; it is too late to wait until we have to change it." It is his purpose to take the initiative to attack and change in the middle.
4, fear
Although corporate leaders are all confident, many people are full of fear. They are afraid of making mistakes, fearing ugliness, fearing that others will disdain their decisions and words and deeds; and more fundamentally, they are full of fear of the unknown. In the current era of change full of uncertainty, this inner fear is increasing.
Of course, fear is not always a bad thing, sometimes it helps us to do better.
For example, Intel Corporation founder and CEO Andy Grove said in his book that if you stay alert to potential threats that could disrupt the industry, you can broaden your thinking and confidence. However, if you are caught up in the fear of the subconscious and cannot make a correct judgment, then you will be at a loss when faced with risk. Proactive attack will be risky, but it is by no means a reckless act of making a head and doing things without considering the consequences. Only by daring to face the fear of the heart can we make our judgments more accurate, think more creatively, and act more decisively.
In India and other emerging markets, the laws and regulations there often change and change, and the uncertainty is particularly strong. For example, in the early 21st century, the Indian government said it would allow foreign insurance companies to increase their equity cap in the Indian joint venture from 26% to 49%. As a result, foreign insurance companies have accordingly made corresponding strategic arrangements. As a result, this adjustment has not been implemented, causing some foreign companies to leave the scene, including the New York Life Insurance Company. It was not until 2014 that Indian Finance Minister Arun Jaitley officially announced that the foreign insurance company’s equity ceiling would increase to 49%. In March 2013, the Indian Insurance Regulatory and Development Authority (IRDA) issued very strict regulations that have a major impact on business details such as product design and policy payments, and only gave insurance companies 6 months to do the corresponding Strategic Realignment. Also at the same time is the Vodafone tax event. Shortly after the Indian Federal Supreme Court suspended the tax authorities’ tax penalties for Vodafone, the Indian legislature voted to pass a $100 million tax on Vodafone. These government initiatives have led to a decline in foreign direct investment in India. It is not difficult to understand that these events will make people feel anxious and fearful.
Some leaders are psychologically strong enough to be fearless in the face of unpredictable things. The Indian Max Group is a corporate group headquartered in New Delhi with annual sales of billions of dollars and operations in a variety of industries, including the insurance industry. Its founder and chairman, Analjit Singh, is also a director of Vodafone India. He said: "In the face of such impermanent changes, the company's leadership team must be stronger and more flexible, and must constantly adjust itself to adapt to market changes.
Denying uncertainty can only be counterproductive, making you more fearful and causing a series of problems, such as fleeing escape, emotional out of control, or turning a blind eye to bad news, and blaming others for everything. American Luosheng Consulting provides executive search and evaluation services to its clients. Dean Stamoulis is the head of his global leadership and succession planning business. He found that people with fear and insecurity have a "victim" complex, "everything is always accusing others and excusing themselves. Excellent business leaders, never complaining, never shirking responsibility. They dare to take responsibility And self-confidence can solve the problem. In today's era of uncertainty, this trait is especially important. Accusing others is completely helpless and will only make you lose the necessary support."
All in all, be aware of your own potential psychological barriers and be brave enough to embrace uncertainty. The more you can accept uncertainty, carefully analyze its causes, form your own judgments, and actively communicate with others to test your own judgments, the more you can gain more certainty and self-confidence, you will also Therefore, it is full of strength.
5, avoid conflict
The most common psychological barrier in promoting business transformation is that corporate leaders attempt to avoid conflicts and do not want to cause opposition and resentment from others. When a company is in trouble and a business leader decides to lay off a business unit that is seriously losing money, you may not like the decision, but you can understand the reasons behind it. However, if your decision-making is based on the possibility that it has not yet occurred, and others have not yet reached the same level of awareness, it will be very difficult to push the organization to change the established strategic priorities and resource allocation. You have to convince your superiors to fight for subordinates; even CEOs need to win the support of the board of directors, investors and the core team. If you have concerns about this, you will be stuck.
It is very normal to have concerns about this. When you are unsettled and face a fierce political struggle, a strong push for transformation tends to be counterproductive, and even “sacrifice sacrificeâ€. Once a company's COO did not buy the strategic direction set by the CEO, so he continued to speak to the board of directors and publicly expressed his opposition, and also put forward his own strategic proposition. One morning, the CEO announced his resignation after opening the board. The successor is the COO.
What should I do? It is necessary to actively seek the support of leaders, employees, investors, the board of directors and external stakeholders to help them establish a positive attitude of taking the initiative. In any organization, winning a few people can affect everyone - the "98-2" rule, that is, 2% of people can effectively affect the remaining 98%. You have to focus on this 2% of people. It is important to win their support because they have the right to speak and influence. The market trends they see and the ideas they form will become the perception of the entire organization. You need to communicate with them on a regular basis, share your insights, and agree on specific strategic priorities and action plans. If you are a CEO, you should actively report to the board of directors and investors, and reach a consensus and build trust with them. This method is also applicable to enterprise middle managers.
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