“Without resilience, you would need to be omniscient (predicting everything) or rely on luck”
You are responsible for the success of your strategic initiatives. Your results will be measured and you will be judged. But your results will to a large extent not only depend on what you do (or not do), but also on events and developments beyond your control – say, the global economy. Is that fair? No. Is it going to change? Also no. So what can we do?
Morten Wied (Ph.D) and Josef Oehmen (Associate Professor) explores three options in a recent LSE Business Review (London School of Economics and Political Science):
- Attain omniscience
- Be lucky
- Be wrong – but do not fail (resilience)
The two first ones does seem to be the safest choices, do they? In the LSE blogpost Morten and Josef explore all three, but mostly how the third one – resilience – can help deliver the strategy you want. They have identified 10 practical alternatives to being omniscient or lucky. Try them at your next strategy meeting to see which are helpful for you. None of them are silver bullets that apply always and in every situation, and all of them carry their own cost. But remember, if you do not use resilience, you rely on knowing it all or being lucky.
You can read more about resilience for delivering strategies right here.