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  • Critical Thinker Issue 6.2009 - Don't Forget The Growth Factor!

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    Business observers have been telling us, for what seems like time immortal, that it’s a “dynamic world”, or that “business is more fast-paced than ever”, or that “you snooze you lose”. The list goes on. There are so many such protestations we might easily become numb to them. Clichéd they may be, but they are also true (!) as the examples in this week’s article prove. One of the recent phenomena that is driving this is the internet, and more specifically, social media. It’s been reported that before TV it took 58 years to reach a market audience of 50m. TV reduced this to 13 years. With social media, the figure today is estimated at 2 years. If an incident goes “viral”, it can reduce to a matter of days! Susan Boyle anyone? This is all very well and good, you might say, but what are the implications to us? From a Critical (and Strategic) Thinking perspective there are many, but the one I’ve decided to focus on this week is what I refer to as the “Growth Factor”. No … this isn’t some mysterious drug! It’s an essential ingredient to the thinking required to properly assess the situations we face.

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    Business observers have been telling us, for what seems like time immortal, that it’s a “dynamic world”, or that “business is more fast-paced than ever”, or that “you snooze you lose”. The list goes on. There are so many such protestations we might easily become numb to them. Clichéd they may be, but they are also true (!) as the examples in this week’s article prove. One of the recent phenomena that is driving this is the internet, and more specifically, social media. It’s been reported that before TV it took 58 years to reach a market audience of 50m. TV reduced this to 13 years. With social media, the figure today is estimated at 2 years. If an incident goes “viral”, it can reduce to a matter of days! Susan Boyle anyone? This is all very well and good, you might say, but what are the implications to us? From a Critical (and Strategic) Thinking perspective there are many, but the one I’ve decided to focus on this week is what I refer to as the “Growth Factor”. No … this isn’t some mysterious drug! It’s an essential ingredient to the thinking required to properly assess the situations we face.

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    © All Rights Reserved
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    158 views1 page

    Critical Thinker Issue 6.2009 - Don't Forget The Growth Factor!

    Uploaded by

    DPI Asia
    Business observers have been telling us, for what seems like time immortal, that it’s a “dynamic world”, or that “business is more fast-paced than ever”, or that “you snooze you lose”. The list goes on. There are so many such protestations we might easily become numb to them. Clichéd they may be, but they are also true (!) as the examples in this week’s article prove. One of the recent phenomena that is driving this is the internet, and more specifically, social media. It’s been reported that before TV it took 58 years to reach a market audience of 50m. TV reduced this to 13 years. With social media, the figure today is estimated at 2 years. If an incident goes “viral”, it can reduce to a matter of days! Susan Boyle anyone? This is all very well and good, you might say, but what are the implications to us? From a Critical (and Strategic) Thinking perspective there are many, but the one I’ve decided to focus on this week is what I refer to as the “Growth Factor”. No … this isn’t some mysterious drug! It’s an essential ingredient to the thinking required to properly assess the situations we face.

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    © All Rights Reserved
    Download as PDF or read online from Scribd
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    of 1

    The Critical Thinker SM

    PURE & SIMPLESM Critical Thinking Tips Used By Winners

    Issue 6/09

    If you want to grow, don’t


    forget the Growth Factor!
    One element of that framework should prompt us to consider
    the “Growth Factor” of the concerns we face when prioritizing
    “The lofty oak from small acorn grows” our work. Growth Factor isn’t some mysterious steroid; it
    represents the fact that even innocuous looking situations have
    Lewis Duncombe the potential to explode to a level of seriousness many times
    their initial magnitude.
    I came across the above quote recently and it got my If we don’t consider the Growth Factor, we might not
    attention for two reasons. Firstly, it is certainly very inspirational, prioritize the situations on our plate effectively and thus end up
    and it is with this intent that I imagine Lewis Duncombe with a rather unsavory dish. Customer service is one of the many
    envisioned it. areas loaded with such possibilities. For example, an apparently
    Secondly, and this is what really got my interest, it gives the isolated complaint, if not addressed effectively, could flare up
    impression that growth is a gradual, almost sedate affair. After into an “international social media incident”, fueled by the likes
    all, it takes decades for an oak tree to grow. Of course, in of Facebook, YouTube and Twitter.
    business, we know that this is not true. That business is more The Case Of “United Breaks Guitars”
    “fast paced than ever” has become so clichéd, yet it is most
    certainly true! Consider the following: Not convinced? Just ask United Airlines!
    ♦ The manufacturer of the world’s best selling portable They didn’t resolve a complaint about the alleged
    music playing device entered the space only 8 years ago 1 mistreatment by their baggage handlers of a guitar to the
    ♦ The world’s most profitable mobile phone company satisfaction of its owner, Dave Carroll, who had wanted
    didn’t even sell its first phone until 2 years ago 2 compensation for the cost of the $1,200 repair4. Little did they
    know that Mr Carroll is an accomplished musician who, after
    ♦ The world’s current best selling recording artiste was a “giving up” on the formal resolution channel, decided to
    nondescript Scottish spinster 11 months ago 3 compose a song about the incident. The ditty, complete with
    entertaining YouTube video, quickly did a “Susan Boyle” and
    What should be our takeaway from these two Apples and a
    was picked up by CNN , CBS and FOX who catapulted Mr
    Boyle? It’s possible to go from nowhere to #1 in an increasingly
    Carroll into a social media star. Mr Carroll rejected United’s
    shorter span of time. As strategists, the implications are many,
    subsequent offers to settle the case; his “investment” of $1,200
    but that’s a topic for The Strategic Thinker.
    had caused a publicity bonanza that he couldn’t possibly hope
    Think About The Growth Factor to generate by any other means. To date, the various clips,
    including sequels(!), have generated nearly 8 million views!
    There are implications of this “fast paced” world for us at the
    Does this mean we need to “jump” on all issues that come
    day-to-day level too.
    our way? Not necessarily. Some issues have a negative Growth
    We need to have a robust and time efficient thinking Factor. Any parent will tell you that their squabbling kids, on the
    framework that enables us, and our teams, to manage situations verge of strangling each other one minute, can become best
    rapidly whilst avoiding the peril of unwittingly lighting fires left, buddies again 5 minutes later, without any parental intervention.
    right and centre. This is the essence behind The Critical Thinker Some of your “people issues” may experience a similar profile.
    articles.
    But it does mean that the Growth Factor is something that we
    need to consider when we are planning and prioritizing our
    activities for the coming days, weeks and months. How many
    1
    Dave Carrolls do you have lurking in your Inbox?
    The iPod was released on October 23, 2001
    2
    Apple’s 2009Q3 profit from its iPhone division was $1.6bn compared to $1.1bn from Nokia in
    second place. The original iPhone was available for sale on June 29, 2007 So … if you want to grow, don’t forget the Growth
    3

    4
    “I Dreamed A Dream” was #1 on the UK and US album charts as at December 14, 2009
    Google or Wikipedia “United Breaks Guitars” to see the full story
    Factor.
    © 2009 DECISION PROCESSES INTERNATIONAL ASIA PRIVATE LIMITED
    Address: 1 Sophia, #04-16 Peace Centre, Singapore 228149 Tel: 6235 1733 Fax: 6336 8022 Email: enquiries@dpi-asia.com
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