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Techno Finance and Executive Diary

Techno Finance and Executive Diary


Provides a insight over latest financial concepts important for TOP Executives. Important corporate topics which may be applied in various meetings and discussions. Disclaimer: Thanks to web/its writers..I have researched and found relevant and useful information and I am sure that viewers will find them interesting.

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Wednesday, October 10, 2007

How do you feel when you finally see and admit to yourself that you were wrong?


How do you feel when you finally see and admit to yourself that you were wrong? What if the mistake ended up being very costly? Are you haunted by mistakes past?

Human systems are chaotic - sensitive to conditions and impossible to predict with certainty. Decisions made in human systems will sometimes fail because:

* We did not do the right research
* The reactions after the decision was not what you expected
* Conditions, that are out of your control, change
* The decision was poorly communicated/supported
* You/the workplace/the team was not ready for the change in the first place

I am most pained by mistakes I make that affect people or that cause a domino affect of negative reactions. But we have to keep swinging (informed swinging) or we will become irrelevant. Great managers make more bad decisions than do mediocre managers. Why? Because great managers approach and get active in more situations. Mediocre managers are more likely to sit back and let others make decisions or let situations linger.

Management is not an exact science and on some days it is more art than science. As much as we all hate making bad decisions, it happens to the best and brightest. What's important is the present - what, in this moment, can you do to make the greatest positive difference? How can you learn from mistakes in ways that will benefit your work more than the right decision could have?

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Posted by "CPerformance" :: 6:17 PM :: 0 comments

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