Strategy in Uncertain Times

Companies can’t build all possible events into their scenarios and should not spend too much time on the low-probability ones. Such executives are also well placed to build the organizational capabilities needed to face critical issues early and then use the extra lead time to gather intelligence, to conduct the need analyses, and to debate their implications. This will require collectively significant, shifts in their operating practices

Since determining what to do under uncertainty usually requires careful debate among many people across the entire company, you need processes and protocols to determine how issues are raised, how deliberation is conducted, and how decisions are made. You also need to clearly lay out the obligations of managers, once the debate and decision making are over, to put their full weight behind making the resulting actions successful.

Just-in-time (JIT) decision making:

Much of the art of decision making under uncertainty is getting the timing right. If a critical issue surfaces early, there is usually enough time to use proven problem-solving approaches to making decisions under uncertainty.

Structuring of decisions:

Decision tree help managers think about the structuring and sequencing of their decisions. Similarly, the organisation which can identify opportunities arising out of external factors will have above average returns for all its stakeholders.

We quote below from statement given by Castrol India Ltd’s management at the time of announcement Q3FY09 results, which clearly identifies threats and opportunities and take appropriate steps

‘This performance is attributable to the consistent execution of our long term strategy and is underpinned by ‘in year focus’ on margins, attacking cost inefficiencies and reducing working capital.

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Acquisition of Distressed Assets

For these reasons, many directors assume that purchase of a healthy business is preferable to buying Distressed Assets because it involves lower transaction costs and requires less time to close.Once the transaction costs of legal proceedings and additional compliance to acquire NPA from ARC or bank directly, are factored in, the bargain price a purchaser thought it was getting may not be so attractive.

Is it a deal or a steal?

If the Potential purchaser follows the advice of management and negotiates a purchase of key assets from a distressed competitor without taking control of the whole company, there are other issues to consider. Another option is to arrive at the settlement with secured creditors and make them confirming party to the transaction.

Even if a company does not have any secured creditors, a potential purchaser should also consider the trade and other unsecured creditors of the target company. If instead, the creditor base is tightly-knit and organized, the purchaser will have to deal with the creditors as a group, which may prevent the purchase from striking a deal on as favorable terms as it would like.

Finally, there is always a risk that the target’s creditors will file an involuntary bankruptcy petition, forcing the target company into bankruptcy. Understanding the company’s creditor base in advance will help directors better assess which creditors have the most to gain from such an action.

Are you protected after the purchase?

A final consideration when dealing with a distressed company is the potential for successor liability after the purchase and what, if any, indemnification will be available to the buyer.

Factors That Can Help Quick Service Restaurants

Quick service restaurants or fast foods require only the best and right systems in place. In quick service restaurants, this key element or process has to be proficient at not only putting initial decisions into play but with making course corrections if they are needed.

For quick service restaurants to get the most out of their supply chain management strategy or the solutions they invested in, these important factors have to be present and they need to be correctly used and optimized as well:

The right technology. Supply chain management solutions that will allow quick service restaurants to have access to and make use of live temperature monitoring will certainly have an edge over the competition since they can promise a better quality of the food they serve. In addition to your suppliers, the right supply chain service provider can help drive the chain forward.

How Many Of These Cognitive Biases Affect Your Decision-Making?

Cognitive bias causes us to routinely deviate from rational judgment, and to make inferences about other people and situations illogically.

A good example in the workplace is when you receive recognition, or an award, and you assume that your colleagues are all as happy for your success as you are; it makes us hurt and frustrated when we find out that this is not necessarily the case.

Cognitive bias can lead to decisions that have negative consequences for us and for those around us; What should you be on the lookout for?

It helps to identify some of the common types of bias that affect people: ten of these are detailed below:

1. Negativity bias

Despite craving success, people are more likely to make decisions based upon negative memories and feelings than positive ones – another common bias. Projection bias

There is a natural tendency to assume that other people see the world the way we do – and we can get frustrated and disappointed when this is not the case.

The example from the introduction about others not necessarily celebrating our successes the way we expect is caused by this projection bias.

The above ten examples are just a few of the biases that may be at play in the human mind in any given situation.

How Limiting Beliefs Stop Your Business From Growing

We are constantly updating the code.

My question to you is, as you update your own programming, are you updating the comments?

Some outdated comments may include:

Don’t brag, it’s not polite.
Don’t interrupt someone when they are talking, it’s rude.
Don’t try to stand out or show that you’re better than someone else.
Be quiet, you’re not that important.
Nobody has ever said that before, you must be wrong.
Nobody wants your opinion.
What makes you think you’re so smart, or that you’re right?
It’s not nice to call someone out or put them on the spot.

Now, I’m not saying you should always brag or interrupt or stick your opinion in where it isn’t wanted; however, it is time to stop listening to these comments blindly.

When thoughts that stop you from moving forward come to mind, ask yourself, “Is the comment I am listening to accurate, or part of an old program that needs to be replaced with something new?”

Do you have old comments running through your mind?

Tips For The Most Pleasant Experience

You might also find a van very convenient for other personal or business tasks and hence van rental is a service that you could find yourself searching for. When you are careful about all relevant van details before hiring, then you will love the experience you get from the time you hire the van to the time you return it.

Apart from getting the right size, you should also be able to compare the van prices and specifications so you choose the right vehicle for the task you have and at the same time also get value for your money. Make sure you hire a van that is in line with your driving license. If you will be the one driving the van, then you definitely want to ensure that your driving license is good enough for the vehicle. When driving a regular car, there are things that do not always look that important, but they definitely are crucial when driving a van.

Must Haves in Your Next Meeting Space

After all, the types of rooms available, the technology needed, and the cost of the venue are just a few of the questions you’ll need to answer. Even just having the right technology available to use can go a long way towards ensuring a smooth experience for you and your guests.

As you will quickly find, there might only be a small amount of available local venues that meet your criteria. As you get started with the event planning, be sure to consider the type of facility needed before beginning your search.

The Staff

Just as important as the physical facility is the support staff. In those moments, it is imperative that the facility staff is friendly, supportive, and ready to meet your needs in a timely manner.

An excellent way to ensure a positive relationship is to spend time visiting the site and getting introduced to the facility’s staff. But remember, this event is for your guests, so you’ll need to consider their perspective.