The increased speed of communication has resulted in a quest for immediacy of results and instant gratification. We have a question, and we expect that Siri or Alexa will provide us with an answer in microseconds. We take an action and expect the resulting benefit to occur in as short a time as possible.
Traditionally, companies were formed by those believing that if, over a period, the company delivered a product or service of benefit to customers that the company would be successful, and a lifetime career be assured.
More recently, when I asked an entrepreneur pitching a funding, how long and how much, it would take to achieve profitability, his answer was “what difference does it make since we will be bought as soon as we can demonstrate a proof of concept?”.
Increasingly, companies are created with the intent of being sold in a relative short time, with wealth created quickly for the founders.
In the past, when visiting countries took days, not hours, and when financial success was recognized as taking longer periods of time and effort, contemplation of possible problems was more common.
Has the change in our expectations about the speed of achievement resulted in lesser consideration of downside possibilities? The expectation and demand that a pushing of a button will result in something of benefit has changed our decision-making process. We expect good to come from action, without much concern about bad things happening.
Is it possible, in a competitive environment, for a slowing of decision-making to be a positive? Should actions based on new ideas be considered longer and by more people, especially if possible negative results might be significant?
My suggestion isn’t intended to be anti-change or anti-progress. It is intended to encourage a greater study of the relevant and proportionate cost/benefit relationship.
My thoughts for the above were inspired after reading a recent column by Natasha Josefowitz “Shyness in our Hyperculture Has Been Exacerbated by Isolation”, which was published in the La Jolla Village News on 4 February 2022.
Arthur Lipper, Chairman arthurlipper@gmail.com
British Far East Holdings Ltd.