Navigating the Uncommon in Leadership: When common sense is not that common
In the realm of leadership, cultivating common sense is often considered a cornerstone. However, a recent article from The Economist challenges this conventional wisdom, shedding light on the surprising scarcity of common sense in decision-making.
For company leaders aiming for growth and resilience, the implications are significant. What happens when common sense is not as common as we think? It prompts a reevaluation of decision-making processes, emphasizing the need for strategic thinking, adaptability, and a nuanced understanding of the business environment.
In the SME sphere, where every decision can have a profound impact, embracing a more deliberate and thoughtful approach becomes imperative. Leaders must not only recognize the potential pitfalls of assumed common sense, but actively work to mitigate these within their organizations.
So, what can companies seeking to grow do to counteract the slippery slope of common sense in business. Here are 3 things to consider:
Strategic Vision: Instead of relying solely on assumed common sense, leaders should develop a strategic vision that aligns with the long-term goals of the organization, and share that vision with their teams. This proactive approach can counteract the pitfalls of reactive decision-making.
Data-Informed Decision-Making: Leverage data and insights to inform decisions. By embracing a data-driven approach, leaders can reduce the influence of cognitive biases and ensure a more objective understanding of the challenges and opportunities at hand. Numbers based decisions vs. emotional decisions will lead to sustainable growth and deliver the profitability you need to scale bigger and faster.
Leadership Development: Foster a culture of continuous learning and leadership development within the organization. Equip leaders with the skills to navigate complexities, think critically, and adapt to evolving circumstances.
While these may seem very simple and obvious things to do, they are very much three things that get washed over in many companies - staying true to trickling the strategic vision in a company, leading by numbers, and equipping team learn and adopt quickly are the keys to success.
So, when leading a company through growth, a valuable reminder for company leaders: common sense is not a given, and assumptions about its prevalence may lead to pitfalls. By incorporating strategic thinking, data-informed decision-making, and a commitment to leadership development, SMEs can chart a course toward sustainable growth, even in the face of uncommon challenges.
Here’s the full Economist article: https://lnkd.in/ehja7-Dd