Sunday, 5 July 2015

Learning from Grexit threat

Global markets are rattled with the uncertainty that a potential Grexit poses. Here are a few quick leanings one can make out of this historic economic and political crisis;

1. Being pro-active: The crisis has been simmering for a long time with a clearly visible outcome that got confirmed yesterday. The political and economic action procrastinated for long till this eventually reached an irretrievable point. Many decisions at our workplace need proactive action.

2. Unity is strength: the concept of EU is becoming increasingly questionable, as, for the sake of unity, a non conforming member remained a threat,bubbling under.  The contagion offers a risk of  other EU nations falling prey to separatist philosophy. All team members at our workplace must deliver results, measured separately, and not just the team results.

3. Common minimum values: 17 nations co-existing in one union needs alignment that seemed to be missing in case of Greece, and for long.ECB and EU kept negotiating for long till they are now being cornered by the referendum. Leadership must align stakeholders to stay committed to organizational values.

4. Austerity is important: Greece denying any further austerity measures despite crisis is a stubborn behavior. Not just in the times of crisis, but at all times, rational austerity is the biggest lesson of this crisis. At both organizational and individual level, making rational decisions on costs and finances is non negotiable. Over leveraging of any kind could be detrimental.

5. Leadership influence: Greek leadership had the responsibility to pursue a rational outcome from the nation. Organizations need strong leaders to drive their vision till the last mile. Weakness at leadership level can have disastrous consequences.

Such historic events offer a huge opportunity to learn and applying the same could make us experientially richer. Need help on some common threads in your organization? or call 9893222222

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