Vasu the Wise: overcoming popular refutable notions

Being pretentious or exaggerating things is a common phenomenon and is not unheard of in the business world. There are so-called ‘experts’ appearing in all the fields, doling out their predictions and spreading either doom or boom, as they believe.

Everyone is entitled to equal rights, but that does not mean that the opinion of everyone is as good as anyone else’s. Also, there are no strict rules that bad decisions and mistakes are not supposed to happen to experts. Nature doesn’t differentiate. Therefore, the desired quality for decision makers is to know the truth from the false and can understand their effects. Especially for a business, leadership is a highly valued attribute to have. The decisions made based on the general predictions offered by the experts may sometimes go wrong and land a blow on a business if not cautious.

Many self-made, self-professed business gurus and prophets regularly provide doomsday prophecy, and especially after the pandemic, a few are repeatedly told, making them seem accurate.

Pandemic-driven raw material and labor shortages will keep supply chains vulnerable; The labor market will remain tight due to pandemic-induced resignations, reductions in the labor force, and turnover from greater employee mobility; Businesses will increasingly leverage technologies such as A.I., machine learning, and automation to 1) meet demand in the face of labor shortages, 2) apply adaptive manufacturing technologies, and 3) develop novel solutions to customer challenges; Consumers will expect personalization, and businesses will leverage technology to create personalized experiences at scale (e.g., music and diets); Flexible work models will persist, especially for knowledge workers, as more than 90% of employers are planning for a hybrid work model for knowledge workers; Inflation will remain high in 2022, even as central banks raise interest rates while waiting for the economy, labor, and supply chains to adapt.