Openness to Criticism


Criticism of any decision not only reflects on the actual appropriateness of the decision itself, but also on the decision-maker as well. When making a difficult decision, it is very  tempting to quickly move past it in order to avoid the questions and doubts the disapproval causes. However, the failure to adequately engage the objection becomes its own ethical dilemma with costs to both the individual and the organization when the ethical dimension is ignored. Openness to the criticism and the lessons it contains can be a key indication that the professional is actively integrating ethics and value reflection into his or her professional life.

When one’s decisions are criticized, one needs practical tools and processes to effectively learn from the reproach and to engage the ethical issues the disapproval presents. there are four fundamental steps in such examination described per herebelow:

  1. Accept the discomfort of the criticism and honestly confront the temptation to ignore it. An important incentive for this honest self-reflection is an understanding of the negative consequences of ignoring the ethics of one’s decisions and their consequences.
  2. Identify personal core values, listing them and examining them in light of the criticism being encountered.
  3. Cultivate openness to the ethical dimension of the business life and of business decisions. The role of the moral imagination and reflection will be examined.
  4. The need for practical tools to identify and audit the core values at work in the decision-making process will be reviewed.

These elements will enable the professional to effectively engage the ethical dimension of decisions and their aftermath. Openness to criticism, developing the moral imagination, having practical tools for ethical decision-making, and understanding the need to integrate one’s values into business goals, perspectives, and decisions are fundamental ingredients in integrating both vision and reality.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

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Managing a Shortage


In the real world, equilibrium prices are always changing. A flood in Brazil may cause the price of coffee to rise; good farming weather in the Midwest will lead to a fall in the price of wheat; advancing technology steadily lowers the price of computers. If enough people are drastically affected by the price change the government may decide to do something about it—whether wisely or unwisely. Rising apartment rents will lead to pressure for rent control, falling wheat prices will lead to pressure for agricultural price supports, and so forth.

When the government controls the price of a good below the market-clearing level, there will be a “shortage.” A shortage is not the same as scarcity. Scarcity simply means that not all desires can be satisfied, and so scarcity is always present. Diamonds are scarce, but there is no shortage—anyone who can pay the price of a diamond can buy one. A shortage exists when goods are not just expensive but unavailable to some people—except perhaps by unlawful means. In a city with rent controls, newcomers may be unable to rent an apartment at all, regardless of their willingness to pay. Thus, faced with a supply shift or demand shift dictating a higher equilibrium price, consumers are bound to lose out one way or the other—either from the higher price if the market adjustment proceeds unimpeded, or from the “shortages” that follow when government interventions keep the price low.

Using the concepts of short-run and long-run supply, let us trace out the consequences of coping with upward pressures on price by imposing a “ceiling.” There are some less visible consequences of price ceiling. Unable to raise price openly, firms may use subtler strategies. They may eliminate discounts or seasonal sales, reduce quality or variety or convenience of their offerings, or concentrate production in product lines that happen to have received a better break from the price-control authorities. Supplies may be sold abroad, leaving even less available for domestic consumers. And of course black markets may arise, providing a wider scope for people specializing in illegal activity. In extreme cases, there may be a breakdown of legitimate trade. In this connection, we can learn much from a previous great inflationary episode associate with World War 11 and its aftermath.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, Line of Sight

From Performance to Ability


A bonus is the appropriate reward for a job well done. Advancement to a new job is not. In the aftermath of reengineering, the distinction between advancement and performance is firmly drawn. Advancement to another job within the organization is a function of ability, not performance. It is a change, not a reward.

 

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please contact www.asifjmir.com, Line of Sight