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Read PDF The Economist: Managing Uncertainty: Strategies for surviving and thriving in turbulent times

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There are some quite interesting ideas in the book, even if I may not have the chance to use them in the practice of a business. I liked to to find out how a manager from Boeing turned around Ford, based on There is more, much more. Aug 29, Apricity rated it it was ok Shelves: nonfic-business , nonfic-psychology , nonfic-decisions.


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This review has been hidden because it contains spoilers. To view it, click here. Summary by excerpt "There are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know.

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Rather, as Jeremy Bentham, vice-president, global bus Summary by excerpt "There are known knowns; there are things we know we know. Rather, as Jeremy Bentham, vice-president, global business environment, says, it is a matter of turning your thinking into what the critical uncertainties are and planning or allowing for them in your strategic thinking.


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Brandenburger and Nalebuff argue that in game theory, to every action there is a reaction. To analyse how other players will react to your move, you need to play out all the potential reactions including yours to their actions as far ahead as possible.

How to make the world better. Really. With Dr. Bjorn Lomborg.

Complementors are players from whom customers buy complementary products or to whom suppliers sell complementary resources. It has four elements: inspiring confidence in the organisation in the context of its current state; ensuring transparency, accountability and good governance; encouraging speedy and informed decision-making; involving and engaging staff at all levels.

There are examples of leaders who have said precisely that and have led very effectively. What is necessary is that you have some sort of vision of what the shape of success will be and some idea of how the journey is going to look.

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The more you are able to paint that picture with vivid colours, the more likely you are to motivate people to follow you. As well as faulty thinking, Stoltz and Margolis believe that most people fall into two emotional traps when dealing with difficult situations. Unable to fix a problem, these managers can be swamped by such feelings, directed inwards and towards others, and feel mistreated, dispirited and even besieged.

The other trap is victimisation. Managers assume the role of an innocent bystander, which requires strenuous efforts to justify events and ward off both criticism and helpful advice. One way out of this blind alley is for managers to adopt a way of thinking that enables them to focus on what they can do to improve the situation. Stoltz and Margolis call this response-oriented thinking.

Managing Uncertainty by Michel Syrett

Lens 1 Control over the situation Rather than becoming victims or feeling powerless, managers should think positively about how to take control of the situation. The goal is to generate possibilities rather than a detailed plan of action Lens 2 The impact of the situation It is important not to focus on negatives or feel angry or victimised.


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Managers need to consider how they can influence the outcome of events. How can they make the most immediate positive impact? Lens 3 The breadth of adversity It is futile to worry about how far the black cloud of adversity will extend. The real question is how to limit the damage and look for opportunities in the midst of chaos Lens 4 The duration of adversity No one has a crystal ball to tell them how long adversity will last.

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The Economist: Managing Uncertainty

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