Economics of delegation
Economist Ricardo stated that even if a nation can produce all goods by itself, it is beneficial for the nation to trade goods with other countries. We term this as Comparative Advantage. Can we extend this beyond the economics domain into managing teams?
Before becoming a manager, here is one question you can ask yourself:
‘Will I be willing to delegate what I am capable of doing by myself?’
Many managers will struggle to say yes. We feel so proud of our expertise that we feel uncomfortable delegating it to others. Delegation is not optional, it is essential for a manager’s success.
“No one will make a great business who wants to do it all themselves or take all the credit,” – Andrew Carnegie, American industrialist and philanthropist
Gold Silver Bronze
Counterfactual thinking is comparing the present to mental alternatives of events, actions, or states. One interesting observation from the recent Olympics is that many bronze winners smiled more than the silver medallists. One can imagine the Bronze medalists telling themselves ‘What might have been, if I didn’t win the bronze?’ The Silver medalists might wonder ‘What might have been, if I had won the gold?’ While excessive counterfactual thinking can lead to rumination and regret, these thoughts can also help individuals solve problems and come to terms with their achievements.
“The battles that count aren’t the ones for gold medals. The struggles within yourself – the invisible, inevitable battles inside all of us – that’s where it’s at.” – Jesse Owens, American track and field athlete and Olympics gold medalist
Exformation and coaching
Danish physicist Tor Nørretranders coined a term “Exformation” to denote explicitly discarded information. Our mind filters out excess information before we communicate with others but it is often implied in the conversation. As a coach, I listen to what is unsaid. It involves deconstructing what is said to tease out what is implied. For example, When someone talks about their workload and lack of balance, it may suggest feeling a sense of meaninglessness in their work. Bringing this to light enables the person to reconsider what they have previously known, assumed, or taken for granted, and to uncover new meanings for themselves.
“Listening to the unsaid is the ultimate ninja move” – Oscar Trimboli, Author on Deep Listening