Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks
February 7, 2025
Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]
What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]
How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]
Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]
In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]
Decision making need not necessarily be a zero sum game where one party benefits at the expense of the other. For instance, it is common in many organizations for decision makers to favor one group over the other which results in a situation where one group wins and the other group loses. This is the zero sum game hypotheses which indicate that decisions are taken to benefit one group over the other. There is an alternative to this situation and that happens when decision making is done in such a manner that produces synergies instead of losses to one group.
The synergies that we are talking about result when decision making is carried out in such a way that the eventual decision takes into account the needs of all groups and produces a result that approximates the sum substance of each of the players’ interests.
The real life models for this can be seen in the way political parties and governmental organizations practice democratic decision making that satisfies to a large extent the aspirations and interests of all the players. This is done by creating resources to meet the demands of the various groups and investing them to the satisfaction of all the parties.
On the other hand, there are instances (especially in the international geopolitical context) where decision making often results in one nation losing out at the expense of another winning. However, even in the international scenario, such a situation can be avoided if the Ricardian principles of free trade are implemented. According to this, a nation that is good at making one particular product can export that and import some other product from another country which it cannot produce on its own.
Of course, decisions often are zero sum games and the point that we are making in this article is that decisions can be taken by finding a common ground where everybody is better off in the end. For instance, by making the parties forego some amount of resources that they would have got out of the outcome, decision makers can ensure a little bit of everything for everybody.
The point here is that if we have to navigate the turbulent times of the 21st century, we need everyone to sit together and thrash out their differences and arrive at an understanding. This is the only way in which we are going to survive.
Finally, the vision and leadership qualities of the decision makers often play an important role in determining whether decisions result in zero sum situations or whether they result in everybody winning. The reason being it is the case that when decision makers take decisions that is based on their innate vision and leadership abilities, the result of such decisions often is that all the parties to the case are winners. This is the scenario where statesmen and leaders often take decisions by persuading the parties with their charisma and personality. Though this is the ideal situation that might or not might not manifest in reality, this is something that all of us can aspire to in our lives when we have to take decisions.
Your email address will not be published. Required fields are marked *