Resolving an Ethical Dilemma
In a business setting mangers are put to test when they face the challenge of resolving an ethical dilemma. Often certain situations do not fall in the ambit of procedures or the official code of conduct and this is when the managers feel the heat. The problem with ethical decision making is that a decision […]
On-Demand Insurance
The millennial consumers are remarkably different from their predecessors. This is true in the sense that whilst earlier generations preferred to own as many resources as possible, the current generation prefers to rent. This is the reason why apps supporting the on-demand economy have ended up disrupting multi-billion-dollar industries. Take the case of Uber, which […]
Government, Social Welfare and NGOs
A Failure of Governance The phenomenon of the NGOs or the Non Governmental Organizations entering the field of social welfare accelerated in the 1990s. In earlier decades, though there were several charitable trusts and organizations like Red Cross, Medicine Sans Frontiers, and Doctors without Borders, the explosion in the number of NGOs and the concomitant […]
How Motivation Can Help Millennials/Gen Zers Avoid Burnout in the Post Pandemic Age
Why are Tech Titans and Business Leaders Worried About the Post Pandemic Workforce? Why are so many Millennials (those aged between 25 and 40) and Gen Zers (aged below 25 years) burning out and leaving the workforce in these Pandemic times? What explains the trend of the Great Resignation wherein half of these age cohorts […]
Management Skills – Leadership Skills for Efficient Functioning of an Organization
The success and failure of an organization is directly proportional to the effectiveness of the management. The superiors must share a healthy relationship with the employees for them to deliver their level best. Leaders need to acquire certain skill sets for an efficient functioning: Management needs to be impartial towards its employees. Rules and policies […]
Decision-making is a process that involves responding to short term and immediate term events and incidents as well as strategizing for the longer term with plans that are more sustainable and durable. This mix of reactive decision making in response to changing threats and proactive decision making that is geared towards the longer term is what makes the lives of business leaders that much more challenging.
Whether one is responding to the immediate events or one is strategizing for the future, the bottom line is that one is trying to get a grip on the external forces that impact the organization and hence, one is trying to find certainty in an increasingly uncertain world.
The last phrase is important as unlike earlier eras, where decision makers could confidently predict and plan for the longer term, secure in the knowledge that the future is under control, decision makers in the 21st century have to live with extremely short duration plans, where the rapid pace of change and the sheer complexity of the business landscape means that they are subject to the pulls and pressures of the present which leaves them with no energy for the future. Even when they have a reasonable grip over the present, they are not sure what would happen when and where in the future which would leave them vulnerable to sudden shocks and Black Swan Events that are high impact, low probability occurrences.
The point that is being made here is that the need for certainty and control over the future determine the actions of the decision makers in the 21st century. This need for speed and the desire to stand triumphant over the longer term manifest themselves in the ways decision makers confront the business landscape.
In order to actualize these objectives, decision makers turn to a variety of tools and techniques that help them plan for the future. This has led to an exponential increase in the demand for the services of futurists and market experts who publish dedicated newsletters and advisories to help the decision makers.
In some cases, these experts consult exclusively and extensively with companies where the demand for their services arises from the fact that the business leaders want more control over their future.
Indeed, the business of consulting has seen a dramatic surge as more and more companies try to understand the forces shaping the future and want the experts to guide them on strategies to harness them for their purposes.
The usual questions that arise in the quest to control the future and the need for certainty are:
This list of question is a representative sample of the usual queries that futurists and consultants get from worried company executives. Though we have not answered any of these questions here or attempted to understand the key issues, the reason why they have been listed is to introduce readers to the uncertainties that businesses face and point to research that decision makers can do to control the future.
Finally, we shall be exploring some of these questions as a follow-up and try and understand the forces that are lashing at the shores of the business world and society.
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