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4349 The World without Bankruptcy Laws

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 […]

4348 The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat Whistleblowers

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 […]

4347 Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks

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 […]

4346 Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies

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 […]

4345 Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional Franchises

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 […]

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The Temptations of Living in the Present and the Perils of Forgetting the Future

The digital revolution has accelerated change and has induced in us a tendency to live for the moment without thinking of the longer term consequences. As we are bombarded by 24/7 breaking news and the media cycle and we are constantly on Twitter and Facebook not to mention scouring the internet for the latest news, we tend to forget that there is a need to keep in mind the fact that change occurs over a longer period of time and the signs and events that we mistake for change in the here and now are just that meaning that they are transitory.

In other words, if we hear or read anyone whether it is a politician, businessperson, or a celebrity proclaiming some statement, we should not be carried away with the immediacy of those statements and instead, must adopt a longer-term perspective that would serve us well in our lives. This means that we should not be carried away by the seduction of the present with its promise of instant gratification and instant results and instead, must keep our sights firmly on the horizon that stretches well beyond the immediacy of the present.

Present Shock and How Not to Be Carried Away

This tendency to live in the present and forget the future has been termed as Present Shock by the noted social scientist Douglas Rushkoff. In his book by the same name, he terms the current obsession with the here and now as being detrimental to businesses and society and warns of the dangers of relying too much on our digital selves and forgets the age-old lessons about how we need to plan.

In other words, he warns us about how businesses and individuals must not lose track of the need to conserve resources, build slow and steady for the future, and invest in themselves so that they have something to fall back on after the immediacy of the moment is over.

As the cliche goes, this too shall pass and hence, we must not take hasty decisions in business and our personal lives based on only the current trend and instead, must pause and reflect on the consequences of our actions for our future.

This means that unless we adopt strategies that articulate a vision and are backed by a spirit of mission and a sense of purpose, we are likely to be carried away by the pressures and the perils of living in the present and hence, are likely to be poorer materially, intellectually, and spiritually over the longer term.

Some Lessons from Leading Psychologists and Social Scientists

It has often been said that businesses and corporates live for the next quarter or live from quarter to quarter. However, research has shown that those businesses and business leaders who have their feet firmly on the ground and plan for the future are more likely to succeed over a longer time than those businesses that solely focus on delivering results for the present.

Likewise, individuals who sacrifice the pleasures of the instant for longer term perspective, defer gratification, and have an overriding philosophy in life that lets them weather the storms of the present and emerge stronger over the longer term have been found to lead fulfilling lives that are often rich emotionally, materially, intellectually, and spiritually.

Lest the readers think that this article is sounding like a lecture, we would like to remind you that the facts and research by social scientists like Daniel Goleman and Douglas Rushkoff underpin the content of this article and hence, we want to drive home the point that while it is easy to get lost in the promise of the present, the perils of the future are equally important for businesses and individuals.

We hope that the message of deep and lasting changes that actualize with time is understood and imbibed for those who are starting their careers, and those who are already professionals but find themselves rushed because of the Present Shock.

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