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Showing posts with the label Peak Paradox

In leadership, why is recognising paradox critically important?

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Source: Wendy Smith   https://www.learninginnovationslab.org/guest-faculty/ The importance of creating or seeing a paradox is that you can understand that the data and facts being presented to you can lead to the recommendation or conclusion being offered, but equally that the same data and facts can equally lead to a different conclusion.   Our problem is that we are not very good at finding flaws in our own arguments, if for no other reason than they support our incentives and beliefs. We tend to take it personally when someone attacks our logic, beliefs or method, even if they are searching for the paradox. Equally, the person you are about to question reacts just like you do.   Searching for the paradox allows you to see the jumps, assumptions and framing in the logic being presented, which lays bare how our thinking and decisions are being manipulated.  Often it turns out, others are blinded to see one conclusion, and as a leader and executive, your role is to explore and questi

Mapping Consumer Financial Services through a new lens!

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Unpacking and explaining the Peak Paradox model is here , you will need this backgrounder to understand the model so that this article will make sense; it is a 5-minute read. A new way of seeing the same thing will mean we can act differently; this is the peak paradox model’s core tenet.  ---- A recurring question on an executives mind in the finance industry is; “ Why does up or cross-selling not deliver in the way we forecast or predict? ”  Cross-selling is foundational hypnosis for growth.  H0; this customer has one product, and therefore they should want my other products; all customers need all my core finance products.  With years of data, it is evident that a customer who uses my payment system does not want my other products, and after years of cross-selling we still only have 30% of customers with all products. Whilst we can conclude there is a problem with the hypothesis, we choose to ignore this fact and continue to try to upsell as we don’t have a framework to explore why!

Peak Paradox

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In the world full of human bias,  exploring paradox might help us explain our differences. Kaliya (Identity Woman ) and I wrote “ Humans want principles, society demands rules and businesses want to manage risk, can we reconcile the differences?   Have been noodling on that framework of linking purpose and rules with a few friends. This article explores how to look for a paradox within our known cognitive bias and how to identify and manage differences. ---- I follow the excellent work of my friend Rory Sutherland and Nir Eyal (Nir & Far) who are both leading thinkers in behavioural science and economics along with the great Daniel Kahneman . I reflected following a call with the most read man on the planet Robbie Stamp CEO of BIOSS ( a company who can assess capabilities for complex decision makin g), about how to frame bias and conflicts. We are aware that there are over 180 cognitive biases of human behaviour, which because of differences between us; create unique tension