“My career today is based in the advisory industry. The most sustained challenge I have faced is that of tactical, short term thinking. Whether driven by the economic climate, by a corporate ethos or by individuals, the result is broadly the same. Bad decisions, decisions that have a delayed impact, lack of decision making, hiatus, hesitation, they are all symptoms of short-termism. The best example I can cite is that of the recession of 08/09 when most of the damage was done by the progressive spread of hesitation in light of gloomy economic data, which in turn led to increasingly gloomy economic data, and so on.

The Most Sustained Challenge I Have Faced Is That Of Short Term Thinking- Nick Davies, Sourcing Advisor, Source

The approach necessary is, in my experience, dependant on whether the tactical imperative is found in an organisation or simply a function, a department within it. The benefits of a strategy, an overarching plan are usually easy to elucidate if one first understands the drivers that have led to the tactical approach. If a service provider keeps making the same mistakes, is the root cause with the provider, or with guidance they have been given by the Customer, real or perceived? No-one wants to fail, no-one set out for a confrontation. By taking a step back and gathering all perspectives, one can build a revised approach that everyone is bought into, that can accommodate short term needs, but that fundamentally forms a strategy that everyone can benefit from in the medium to long term.”

About Nick Davies:

Nick is a sourcing advisor with Source, an innovative advisory firm that spans ITO, BPO and LPO with equal depth and breadth. Nick has more than twenty years experience spanning a career in ITO and BPO service providers, most recently in the advisory space. Nick is a keen golfer, and calls a smallholding in North Wiltshire home.