One of the most valuable tools in an executive\u2019s arsenal is the use of the question chain in planning meetings or to analyze scenarios that might result from an action.\u00a0 The powerful words are \u201cWhat if\u2026\u201d followed by an ever-deeper question that follows the possible results of an action, or a decision based upon the last \u201cWhat if\u201d question.<\/p>\n
The beauty of this method is that it causes the person proposing the solution to think much more deeply than during the development process, unveiling many possible consequences to be considered before implementation of an idea or project.\u00a0 When I use this technique, invariably the person on the other side of the question will at some point state, \u201cI didn\u2019t think of that.\u201d<\/p>\n
In a recent CEO roundtable, the executives discussed their experiences with the question chain.\u00a0 Several had revealing things to say about their experiences.\u00a0 One stated that he asked \u201cwhat if\u201d the U.S. dollar was to sink in value during the life of the foreign transaction.\u00a0 The subordinate had not thought of this carefully enough and had no protections built into the agreement or any strategies to hedge currencies.\u00a0 The net cost of such a failure to pre-think this event would have been in the millions, stated the CEO, but were successfully hedged against just as the dollar declined.\u00a0 Another CEO in the group offered his experience with the question chain relative to the availability of isotopes for his company\u2019s medical instrument customers in the event of political turmoil in the countries where the nuclear material was exported.\u00a0 As a result, his was the only company among the competition to continue to service his medical industry customers when just such an event occurred.<\/p>\n
\u201cWhat if\u201d are two very powerful words when used together.\u00a0 Use them more frequently as you manage your enterprise.<\/p>\n","protected":false},"excerpt":{"rendered":"
One of the most valuable tools in an executive\u2019s arsenal is the use of the question chain in planning meetings or to analyze scenarios that might result from an action.\u00a0 The powerful words are \u201cWhat if\u2026\u201d followed by an ever-deeper … Continue reading