One of the most vital functions of the corporate DNA is the ability to make strategic decisions. I’m not talking about your run-of-the-mill, standard operating decisions- I’m talking about the big decisions that are difficult unless you understand the importance of risk-taking and making exchanges.
What do I mean by that? Lets take a moment to compare The Great Depression of the 1930s to The Great Recession of the last few years.
Even during the most devastating times of the depression, most business leaders never lost their resolve to push forward. These entrepreneurs and executives not only focused on survival, but found ways to become even more profitable. This required some tough decisions– some exchanges, if you will. They made choices to move away from something stable to take a chance on something even better.
But why take a risk and try a new business model or method of doing things? Why not just stay put until the storm blows over? If these questions would have pervaded the psyche of business leaders in the 1930s we most certainly would not have companies like Walt Disney Pictures, General Foods or the Ritz-Carlton Hotel Company; all of which were started during The Great Depression.
In contrast, take a look at the last six years of the American business climate since the economic down turn. The resolve that many business leaders once had seems to have waned in the face of economic hardship. We find many businesses making decisions based on the fear of losing their corner of the market versus finding and seizing opportunities to expand and grow their profitability.
We could argue the reasons behind this shift all day long, but one thing is certain; if we ever hope to regain the resolve that our forefathers once had we must move past the allure of stability and boldly step towards greater significance.
Simply put, stability promises. But one of the key exchanges, for businesses and for individuals, is one of stability for significance.
We must be willing to get out there and push the envelope once again. Yes, it will require taking some risks, but if history gives us any indication the results will be more than worth it.
