Athletes and managers – are they really that different?
Technological development and changes are gathering speed and experiencing an exponential growth all over the world. At the same time, our lives are being changed at an equal speed – everything around us in a constant state of flux and the sheer volume of information that surrounds us keeps multiplying all the time. The world is now digitally interconnected and has brought about the phenomenon of global competition. Everybody now competes with everybody else because nearly 99% of all information is widely available to all Internet users on the planet. What makes the difference between a winner and a loser in this new reality is the speed of reaction.
But this pressure to make fast decisions comes hand in hand with two potentially negative consequences: stress and compression of time. In my opinion, we are all suffering exponentially growing levels of stress and the pressure put on managers also keeps increasing. Time compression was defined in 1995 by my strategy teacher and one of the best strategists in the world Mike Kami. Echoing Moore’s law of technological progress, time compression basically means that the time available for decision-making is cut by 50% every two years. In other words, decision that we had ten minutes to think about two years ago must be solved in half the time today. This pushes business to make their decisions really fast.
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