Future Generali

How can leaders take better decisions when faced with a paradox?

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Ruchira Bharadwaj:

 We have seen there have been N number of paradoxes which have emerged today due to COVID times and with that the decision making truly a core competency to have as I see. How would you think leaders at all levels should focus on this scale about understanding the paradoxes and deciding what to do.

 

Yogi Sriram:

Because if you look at the word judgment unfortunately in Indian languages has a very approximate translation. The nearest that you can get to the word judgment in Hindi is “Nirnay”. And “Nirnay” actually means ‘decision’

A lot more time on reflecting, a lot more time in understanding one's own biases, a lot more time in, tying to look at the what is the impact of a particular situation in the short term and  in the long term is important in managing these paradoxes because what can happen in a paradox is it can be totally confusing. Take today's time. If you're let's say planning for an organization in terms of strategy. I guess that In these uncertain times it's very important to have three scenarios. Scenario one scenario two and scenario three. Very often as the scenarios become more and more remote from the first scenario, meaning the second and the third, they're not as robust as the first scenario.

In Today's context, it's a little bit like the second service of an ACE tennis player. The second service is nearly as good as the first service as fast and so on. So the scenario planning has to be done extremely well in managing these paradoxes.

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