Inspite, what my career summary would suggest to the reader, I have learnt most from my failures. I have seen and contributed to value destruction in-spite of great execution due to incorrect Framing of Strategy or Business plans. WIR Advisory is about creating that awareness and supporting our clients in generating long term sustainable value for their business.
Excellence (what should I start doing or do more) is built on Efficiency (what should I stop doing or do less) but efficiency should never be pursued at the expense of effectiveness (what should I do or keep doing).
Strengthening culture is necessary to sustain competitive position by avoiding incidents that lead to financial and reputational damage.
Wrong decisions are often caused by biases due to
1) Anchoring i.e. how information is presented or who speaks first,
2) Availability i.e. our beliefs are biased by information that is most readily available,
3) Overconfidence, i.e. we tend to think we know world better than we actually do particularly in our area of expertise, and
4) loss aversion: we are more emotional about losses than gains.
Most of time we Tell too quickly, too much and too long. We do not Ask long and hard. We insufficiently learn or to allow ourselves to be inspired by others.
When interacting with someone from another culture, try to watch more, listen more and speak less. Listen before you speak and learn before you act.