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The Delusion of Absolute Performance

Company performance is relative, not absolute. A company can improve and fall further behind its rivals at the same time.

A company’s performance should be measured relative to other similar companies’ performance as it is a competitive environment. Measuring the company in isolation in absolute terms is not of much use.

104

398 reads

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Delusion of Organisational Physics

The study of corporate performance is not a science like physics. We wrongly believe that there are certain rules or a formula for success and if a company follows the rules or the steps of the formula, it will see all its goals being achieved. But in the real world, succ...

104

339 reads

The Delusion of Connecting the Winning Dots

If we pick a number of successful companies and search for what they have in common, we’ll never isolate the reasons for their success, because we have no way of comparing them with less successful companies.

By looking only at companies that perform well, we can never ...

105

548 reads

The Delusion of Single Explanations

Success cannot be usually attributed to one factor.

Many studies show that a particular factor—strong company culture or customer focus or great leadership—leads to improved performance. 

But since many of these factors are highly correlated, the effect of each one is...

106

654 reads

Business Delusions

Business Delusions

Our thinking about business is shaped by a number of delusions - ones that distort our understanding of company performance, that make it difficult to know why one company succeeds and another fails.

These errors of thinking pervade much that we read about business, whethe...

112

1.4K reads

The Delusion of Rigorous Research

If your data sources are corrupted by the halo effect, it doesn't matter how much data you have gathered, or how sophisticated your methodology was.

Data quality and quantity are equally important when it comes to research. If one takes a wrong assumption and backs it up wi...

104

494 reads

The Delusion of Correlation and Causality

Just because two sets of things are correlated does not mean that one causes the other to happen. Sometimes one might cause the other to happen. But we won't know which of them is the trigger. Maybe, another separate thing might be influencing both of them to happen. It is also possible that ther...

116

709 reads

The Halo Effect

This is our tendency to make inferences about specific traits on the basis of a general impression.

In the business world, it refers to the tendency to look at a company’s overall performance and make attributions about its culture, leadership, values, and more.

115

1K reads

The Delusion of the Wrong End of the Stick

It may be true that successful companies often pursued a highly focused strategy, but that doesn’t mean highly focused strategies often lead to success.

Some companies have a focused strategy and some change their strategy based on competition, market, and internal factors. Some are success...

103

328 reads

The Delusion of Lasting Success

Almost all high-performing companies regress over time. The promise of a blueprint for lasting success is attractive but not realistic.

Success is transitory, and many companies that have outperformed in the past, won't do so in the future. A company canno...

101

427 reads

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Patience is the key to achieve your goals.

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Individual Power In The Creation Of Wealth

Joining a company is not the only way to create wealth. As long as you can create something that people want you can create wealth and for that you don’t need a company as an intermediary.

Working hard has a high individual cost but creates the opportunity to earn more wealth than on...

Take the lead of your performance review

  • Be sure to know what's expected of you. It’s really difficult to improve within your role when expectations have not been properly communicated to you. 
  • Ask for feedback. If your company doesn’t have a formal, regular feedback process in place, seek ...

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