A business owner may do his very best to attain his goals and dreams for his business. He may apply magical thinking in business. Many businessmen and company owners attempt to work and manage their businesses and companies using strategies and tactics that cannot achieve the goals for which they were designed. So they designed something in reverse that they call a phenomenon magical thinking which means believing that unrealistic organizational strategies and tactics can be successful. This is a very good technique that adheres hope and success.
Magical thinking in business
- Thread starter Starmix
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Phenomenon magical thinking,i like the sound of that though i have never come across it.Could you shade a little bit more light on that theory and principle.I know of the pareto principle which is also known as the 80/20 rule which states that the greatest mind to ever have accomplished so much only exausted 20 percent of the brain's thinking capacity.I also know that we should apply steady actions that are precise in order to achieve in life,Now this technique needs more insights in order to get to appreciate it further.
Unrealistic organizational strategies and tactics? I got a bit confused here. I assume that you are talking about unconventional strategies and tactics. Unrealistic things can ensure hope but will not assure of any success in realistic world. I am a bit confused here. Can you shed some light with some examples. Maybe I have misunderstood.
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- #6
It means those businessmen can make the impossible, possible. That is the implication of the line. Those tactics, techniques, and strategies may turn all those impossible ways to make a business grow fat and like a pro POSSIBLE.
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In other terms it means that at times in business we just need to make a tough call on a decision even if it may have devastating consequences?like the case of Elon Musk when his two companies where about to collapse and he only had funds to save one company.He had to choose either Tesla or SpaceX and he decided to split the money into two and share the funding in half.Not knowing that was even the breaking point for his companies to go mega.He applied the sixth sense and chose to do the unthinkable.But it worked out even if the right thing to do was to liquidate one company.That is one example of the Phenomenon magical thinking........
Magical Thinking and Thinking Outside the Box is a great way of making things happen for us in business. We should employ certain tactics and do what other business people are not doing.
Its interesting to see how some business owners resort to what you've termed "magical thinking" in their strategies. While I agree that a positive mindset is important for success, relying only on unrealistic tactics might not be the most sustainable approach. It's important to strike a balance between ambitious goals and practical strategies that have a higher chance of reaching those goals.
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- #11
You are so right, the businessmen also must have their tactics to resolve issues of low sales and productivity. Magical thinking are those tactics thought to be unrealistic but turned out to be most effective.
Every business owner should be able to be creative. The reason why it looks and feels like some are doing better than the other is simply due to the fact that they are able to make use of old ideas and recreate them to be something better.
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- #13
Tactics in business is a very strong strategy to defeat business competitors. Many became successful because of the tactics not found in other businesses like for example free coffee drink upon entry in the business center or a freebie.
