Critical Managerial Trait in Bad Economies

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Most Critical Managerial Trait in Bad Economies: Optimism

Bad Economies Demand Creative Managers Who Are Dedicated to Optimism

Managers, be they the newest to the most experienced, often enter “bunker mode” during bad economies and recessions. Sometimes paralyzed by fear—for their personal professional or company survival—managers seem frozen and unable to make creative decisions.

Unfortunately, bad economies demand more, not less, creativity from management. It is critical for managers to avoid adopting a “victim mentality,” as this will only make a bad situation worse. The demand for enhanced creativity is absolute, as new territories need be discovered to overcome the challenges of recessions. With fewer customers, dollars, and demand, bad economies eliminate the ability of “status quo” strategies to deliver success.

The key to creativity, new ideas, and a “refuse to lose” mentality: optimism. Those who question this requirement should ask themselves, “How will pessimism or status quo help me or my company succeed in this environment?” You will be hard pressed to find any recognized management expert recommend pessimistic or status quo strategies during recessions—or in any environments.

Negative thought never achieves anything but negative results. Status quo, particularly in troubled times, can be just as dangerous, only your demise may be slower and more painful. Optimism, however, gives you the opportunity to succeed. While stellar results are not guaranteed (are they ever?), you’ll strongly increase your odds of success.

How to Use Managerial Optimism Correctly to Achieve Success

French psychologists have coined a wonderful phrase for the best strategy. They deem it “intelligent optimism.” It’s important to differentiate pure theoretical optimism from reality-based positive strategies. Instead of wishing and hoping for good results, managers must understand that they need to take action and understand those components they can control and those that are outside their purview.

Here are some tips to use real-world optimism to its fullest as the single most critical trait of bad economy management.

• Admit that the economy is going south rapidly and dangerously.  Denying or ignoring this unfortunate reality makes it more difficult to employ intelligent optimism as an effective strategy.
  
  
• Focus only on that which you can control and ignore that which you cannot.  Do you have enough time to accomplish all your targets in any given day, week, or month? Do you know any managers who do? Probably not. Bad economies mandate that you maximize your available time and effort on those issues over which you have control. Wasting time focusing on those negative components, analyzing or agonizing, that are outside of your control can be expensive and dangerous. Concentrate (optimistically) on those issues you can change, modify, improve, and/or eliminate.
  
  
• Avoid, at all costs, adopting a “victim” mentality.  Becoming a “victim” establishes two damaging psychological barriers to success. First, this implies that the economy, company, and workplace problems are all about you. Since you probably had little or no control over the economy, overall company problems, or workplace issues, becoming frozen in time for illogical and useless reasons only hurts your management efforts. Second, feeling like a victim makes it much more challenging to adopt the required optimistic mentality. Your management brain will engage in a mental “tug of war,” with the victim feelings counteracting the intelligent optimism you need to succeed.
  
  
• Focus on the tools you have; not on what you’re lacking.  Those who understand the principles of the Law of Attraction realize how critical this tip is to achievement. Concentrating on that which you lack only delivers more of the unfortunate shortage. It’s also a wasteful way to spend your valuable time. Believing that you have “enough” and working to maximize the tools and resources you have will give you the power to achieve.
  
  
• Spread the optimism around.  Contagiousness is one important feature of optimism. Supporting and creating optimism will spread to others, peers and senior management alike. Along with helping your own career, you may be a catalyst for a general company resurgence by exhibiting your intelligent optimism.
  
  
• Walk away from negative conversations.  Do not participate in the many workplace conversations usually featured by employees complaining, expressing fear of disaster, and/or whining about conditions. Resist the temptation to jump in and further sell your optimism. Unfortunately, interjecting good thoughts into a few peers while they are having a “pity party” might turn their negativism in your direction.

Spread your optimism via words (when appropriate) and behavior consistently. Turning your positive outlook on and off sends confusing messages to your peers and senior management. Consistency is the critical component.

Remember, intelligent optimism is the most effective strategy. By acknowledging that economic problems exist exhibits your understanding of the realities of the marketplace. This stance increases the value of your optimism. It shows that you are not living in a fantasy world. You admit the current day problems, but, instead of whining about the situation, you choose to move forward with creativity, commitment, and positive thoughts.