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Being Smart is Not Enough

https://fs.blog/2020/09/being-smart-is-not-enough/

fs.blog

Being Smart is Not Enough

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Being Smart Is Not Enough

Being Smart Is Not Enough

Most companies hire the smartest people they can find, as they look for candidates who can provide innovative ideas, do the best kind of ‘coding’ or make a great presentation/report.

What hiring managers overlook and often ignore are the predominantly social people who ‘talk’ a lot, and are always on social media, assuming them to be a useless, unproductive lot.

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The Geniuses and The Social Butterflies

Geniuses: An organization filled with genius-level workforce won’t have people learning from each other, turning into an anti-social organization full of isolated, lonely performers.

Butterflies: Socially adept workers pollinate good ideas and spread innovation around, even ideas that may not be concrete, brilliant or easily visible. This makes the butterflies an essential part of the pollination of information in the organization, creating a healthier, more productive environment.

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The importance of focusing on the similarities

The importance of focusing on the similarities

When we look at situations, we prefer to look for what is distinct. Instead, we should pay attention to the similarities.

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What happens when we see only the differences

When we focus on the differences, we lose touch with the evidence that the similarities point out. The history of a matter provides context.

  • Consider investors and the dotcom bubble. People saw it as unique. We reasoned that everything would change, and everyone who owned internet companies would prosper. Suddenly profits didn't matter, nor revenue. We thought it would come in time. Market share mattered regardless of the cost to acquire it.
  • We got caught up in the differences and forgot to look at what was the same. Had we looked at the massively transformational industries, such as automobiles, we would've seen that of all the 70 different auto manufacturing operations in the United States, only 3 survived.

Publilius Syrus

"Anyone can steer the ship when the sea is calm."

Publilius Syrus

When Things Go Well

Just like a chain is only as good as its weakest link, a product or service is only as good as they are when they malfunction or break.

We all are programmed to focus on the winning streak, skyrocketing valuation, and great success. What is more instructive and enlightening is to observe what happens during the rough times.

How Companies Behave During Crises

From a customer's standpoint, the reputation of a company is made or broken during the time there is a problem or a crisis.

If a faulty product or service results in endless customer care calls that lead nowhere or jumping legal loops, then the customers will take their business to some other company.

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The quality of our decisions

The quality of our decisions

We all make decisions. However, few of us realize that the process we use to make decisions is more important than the analysis we put into the decision.

Analysis doesn't always lead to good decisions

When it comes to decisions, organizations rely on gathering data and analyzing the decision. People believe that analysis reduces biases, but most business decisions made this way turned out to be poor decisions.

Research shows that good analysis from managers who have good judgment won't necessarily produce good decisions.

Process over analysis in decision making

Analysis alone does not yield good decisions as the people who put it together have a subconscious bias and interest in a particular outcome.

Instead, a disciplined decision process involves guarding against decision-making biases by exploring and discussing major uncertainties or discussing contradictory viewpoints.