#10thCEOsForum- Staying Ahead: Maximising Profits and Mitigating Risks

on-shoulder-of-giants-3-2

“If I have seen a little farther it is by standing on the shoulders of Giants.”- Isaac Newton.

WHAT IS IT?

This is a very famous quote in the world of science. However, in the area of management, it is not as profound. Many have to date agreed that the general principle that the scientist was trying to bring out was that those living in later times seem to see better than those in the past. By using what was discovered in the past, we tend to make better decisions and seem to have more intellect than those in past times. Feed-forward is harder than feedback.

HOW DOES IT APPLY TO YOU?

1. IF YOU ARE IN AN AREA OF RESPONSIBILITY

If you are a manager in today’s world, this could mean the difference between success and failure. Noticing what has worked in the past and using it in the present while avoiding what did not work in the past is cardinal for securing the much needed success in today’s hypercompetitive business environment.

2. IN YOUR PERSONAL LIFE

For many of us, the challenge of seeing further and yet clearly is far greater than the duties or hurdles in our way. Think of a jungle. If you are inside it, chances are that you will spend more time finding your way through the puzzle than a person who is viewing it from the top using a map and campus. (i.e. a wider perspective). The wider perspective makes them seem to have better vision than their colleagues. It helps people set targets that are well informed and reduces the chances of huge variances.

3. IMPORTANCE

From the aforesaid, it is clear that standing on some giant is important for achieving great success. It helps you see further and enables you forecast with greater precision. Such precision can help in establishing goals that are not only attainable but also highly motivating. Remember there are three major types of standards for motivation purposes. There are basic (simple and very easy to attain) standards, attainable (challenging but manageable) standards and ideal (very tough and unattainable) standards. Basic standards are not motivating because they are too easy to achieve. Ideal standards are also de-motivating because they are too difficult or impossible to attain. Therefore, forecasting with precision can help in avoiding setting standards in these extreme ends.

HOW TO STAND ON GIANTS:

Whether we realise it or not, everyone has a ‘giant’ they either stand or wish to stand on-in a particular situation. It can be anyone or anything. It could be an ideology, person or skill. If it makes you see further than others; all else being equal, then it is your giant. When you use, you forecast better. That is how you stand on your giant.

However, not every giant is good for everyone. You must identify what best suits you and makes you achieve success with all the satisfaction. For many of us, this can be very challenging. For managers, taking advantage of this weakness could mean immeasurable success in your leadership role(s). If a person under your management does not seem to be standing on the right giant, your guidance and advice on the correct giant could create a very good rapport between you and the person if it later turns out that they made a good decision by following your advice.

Culled from https://economybuilding.wordpress.com/

Don’t miss LEAP Africa’s 10th CEOs Forum, June 09, 2015 at the Oriental Hotel, Lagos. For more information call 01-2706541-2 or send an email to info@leapafrica.org. Save the Date Today! Follow @LEAPAfrica on Twitter and LEAP Africa on Facebook to get updates.

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