In times of economic uncertainty, it might just make the difference for your business.
By Steve Martin, CMCT
The messages of impending doom, which appear to be broadcast with increasing frequency by business leaders, analysts and media commentators, share some striking similarities to another forecasting favorite – the trusty weatherman. Even the language is the same, with talk of storm clouds brewing, a bleak outlook and unpredictable conditions ahead.
Of course all predictions, whether meteorological or economical in nature, can be wrong. But this happens less often than one would expect – forecasters are very often correct.
There are exceptions: few seeing the 2007-8 financial meltdown is one of the more cited examples of recent wrongs. In general, it is easier for people to remember when forecasters “got it wrong”, rather than when they get it right. It’s unlikely the topic of discussion at the water cooler starts with someone remarking how much they admire the morning news weatherman “for getting it right again”. They are much more likely to comment if he was wrong, simultaneously signaling that, and “had they known better, they would have brought their umbrellas to work.”
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