Stagflation is the worst of both worlds. With stagflation you get an economy with rising costs, but with little or no growth.
A kind of stagflation can occur in organizations too. This can often be seen in government where bureaucracies will bloat, providing the same or reduced services at higher and higher costs.
A company can grow, but still be stuck in unproductive ruts. And sometimes the only real change is the price the organization is paying to be in business.
Great leaders keep their organization out of this condition by:
- Staying open to fresh perspectives and methods
- Eliciting the support of the team to improve processes and structure to be highly effective and efficient
- Actively applying lessons from successes and failures
- Creating a culture that rewards results and an environment where people know what they need to do in order to win
- Maintaining radical alignment on value creation
Elections have consequences. If the people don’t like the results of the policies they see enacted, they can vote for a change.
My vote is always for change. Positive change, that is. And you can be the one to lead that.