Competitive identity: Your hidden lever in a transition
Considering a career transition? Begin by identifying your unique values and strengths. Sophi Hazi and Arturo Pasquel guide you through the process....
Brain Circuits
Ref rules: How to make good decisions under pressure
Leaders regularly need to make decisions under intense pressure. Pierluigi Collina, one of the world’s most respected football referees, reveals how to make the best choices possible in the heat of the moment.
Do your research
Like anything in life, hard work and preparation is crucial to success. Absorb as much information as you can about the market, your customers, and your stakeholders so that when you need to make a tough decision, you’re coming from an informed position.
Anticipate developments
Try to stay one step ahead, so you’re not just reacting to what happens. You need to be able to anticipate possible developments, so you’re much more likely to make the right call.
Harness your nerves
Don’t allow nerves to cross over into anxiety, which will impede your performance. How you do this might not be the same as your colleagues – for some, rest and relaxation before an important meeting may be the way to go; others may find that nerves provide the adrenaline needed to drive results.
Learn from your mistakes…
Mistakes are often opportunities: a chance to learn, grow, and improve for the next time. What’s important is not to look for an excuse, but to find a solution.
.. but don’t dwell on them
After a mistake, analyze it to understand why it happened and avoid repeating it. Then forget it – because, for the next big decision, you need a positive mentality. That’s why, when anyone asks me, “What’s the biggest mistake you ever made?” I always reply, “Sorry, I forgot.”
Stand by your decisions
In business as in sport, if your team trusts you, they can accept a decision even if they think it is wrong. To be accepted when you’re wrong, you can’t always be right. You can be empathetic but firm and strong at the same time. Sometimes you have to be autocratic because you’re the boss. And don’t let the other person have the last word: that must be yours.
Be yourself
Don’t pretend to be someone you’re not – people don’t trust actors. If you play a role or follow a script, you will immediately be seen as inauthentic.
Develop situational leadership
Build trust with empathy by dealing with people according to their personalities. Sometimes a smile works better than a stern admonishment, so try to understand the reason behind any strong reaction. It’s about modifying something in the moment to better connect with people.
Key learning
Next time you’re faced with a high-pressure decision, use these tips to block out the noise, stay focused, and make the right call – and remember: the better you are prepared, the better your decisions are likely to be.
This article is inspired by a keynote session at IMD’s signature Orchestrating Winning Performance program, Singapore (2024), which brings together executives from diverse sectors and geographies for a week of intense learning and sharing with IMD faculty and business experts.
Authors
Related
Bias in the boardroom: Good or bad?
Of the many biases humans are prey to – such as anchoring bias, loss-aversion bias, status quo bias, and recency bias – confirmation bias can be most evident in the boardroom. But...
Checklist: Are you responding to changing workplace demographics?
As workforces age, organizations must confront a critical question: how will extended lifespans reshape leadership, organizational strategy, and the very concept of a career? Anna Erat identifies four focus areas to sustain...
Searching for your first board role? Start here
To transition into the boardroom, you need a brand, a unique board proposition, and a governance mindset - but you also need to consider the value you add and the cultural fit...
Learn Brain Circuits
Join us for daily exercises focusing on issues from team building to developing an actionable sustainability plan to personal development. Go on - they only take five minutes.
Explore Leadership
What makes a great leader? Do you need charisma? How do you inspire your team? Our experts offer actionable insights through first-person narratives, behind-the-scenes interviews and The Help Desk.
Join Membership
Log in here to join in the conversation with the I by IMD community. Your subscription grants you access to the quarterly magazine plus daily articles, videos, podcasts and learning exercises.