Employing New Thinking in Turbulent Times

Peter Drucker wrote that in turbulent times, the fundamentals need to be managed well. He always stressed fundamentals.

Fundamentals do not change. But the specifics to manage them do change greatly with changes in internal and external conditions. Managing in turbulent times thus has to begin with a discussion of the new and different demands affecting the fundamentals of survival and success in the existing business. These are: liquidity, productivities, and the costs of the future.

Tom Peters has offered several fundamentals to keep in mind now (and always):

1. Be conscious in the Zen sense. Think about what you are doing more than usual. Think about how you project.
2. Meet daily, first thing, with your leadership team—to discuss whatever, check assumptions. Perhaps meet again late afternoon. Meetings max 30 minutes.
3. If you are a "big boss," use a private sounding board—check in daily.
4. Concoct scenarios by the bushel, test 'em, play with 'em, short-term, long-term, sane, insane.
5. MBWA. Wander. Sample attitudes. Visible but not frenzied.
6. Work the phones, chat up experts, customers, vendors. Seek enormous diversity of opinion.
7. "Over"communicate!!!!!!!!!!!!!!!
8. Exercise—encourage your leadership team to double up on their exercise.
9. Underscore "excellence in every transaction."

Another lesson worth remembering extracted from Drucker by Jeffrey A. Krames found in his book, Inside Drucker’s Brain is: Results are achieved by exploiting opportunities not solving problems.

Solving problems can only return the organization to its prior status quo. To achieve results managers must exploit opportunities. However, in most organizations, its best people spend too much time putting out fires rather than searching for new opportunities than can become tomorrow’s cash cows.

What are your hidden opportunities?