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Information Gathering
Information is Inspiration
Effective information gathering is the
most basic perspective-widening tool an effective leader
requires. Good quality information marks out the context
in which the leader operates, creates the information patterns
from which ideas emerge, and provides the criteria by which
ideas are screened and assessed.
Effective leaders gather two main types
of information:
- Background Data, and
- Task-Related Data
Leaders gather background data to build
their view of the world in which they operate.
This information is made up of the countless
facts, trends and opinions that they encounter and the observations
they make on a daily basis. The higher the quality of background
data they gather and the more effectively they prioritize it,
the more accurate their view of the world will be, and the better
their judgment and “common sense”.
By contrast with the steady, slow gathering of background data,
task-related information is gathered for a specific purpose. Perhaps
you’re preparing a five-year business plan and you want
a reliable growth forecast from your country’s central bank.
Or maybe you want specific information about the number and disposable
incomes of a certain group of consumers. Or perhaps you need to
know projected labor market trends for people with a key skill
Gathering Background Information:
What is certain, however, is that task-related information on
its own is not enough: While arguments created with it can be
persuasive, they are “brittle” and can often be knocked
down with previously unknown facts that just don’t fit.
This is where ideas need to be tested with the common sense that
comes with diligently acquired background information.
There are a number of things you can do to build background information:
- Read a newspaper or news website respected
for the quality and accuracy of its journalism (for example,
“The Economist”);
- Where possible, talk to your customers and
get a deep understanding of what they want and don’t want
from you, and what they’re getting or not getting from
you and your competitors;
- Read industry magazines and newsletters
for both your own and your customers’ industries, keeping
an eye on customers, competitors, suppliers, industry associations,
activist groups, new technologies and so on;
- Talk to experts in the fields in which you
operate and knowledgeable people within your organization, and
understand their perspectives on the key trends and features
of interest;
- Read brochures and talk to product teams
to make sure you understand your organization’s products
and services, their strengths and weaknesses, and what your
customers like or dislike about them;
- Have a good understanding of company or
business unit strategy – i.e. what your company says it
wants to do, who it wants its customers to be, and how it plans
to serve them; and
- Take the time to “tune in” to
what’s going on in your organization: Through both the
formal and informal “grapevines”.
What is necessary here is to take the time to
gather this information: It’s all too easy for these activities
to be lost under the pressures of a hectic schedule.
Gathering Task-Related Information:
It’s much easier to justify the time spent gathering task-related
information: Information-gathering actions are clearly identified
steps in the projects you undertake.
There are three key factors here:
-
Understanding how much research you should do;
Making sure you ask the right questions; and
-
Gathering the information you need.
The amount of research you take depends on the
scale of the decision, the time available, and the consequences
of getting it wrong. If it’s a small decision, or the consequences
of getting it wrong are small, then don’t waste too much
time on it. On the other hand, if the consequences are severe,
take time to make a good decision, and make sure you make an appropriate
risk management plan in case things don’t work out.
Making sure you ask the right questions is of
key importance. Start by brainstorming these questions, ideally
with your boss or client or with experts in the field or within
your organization. Then make sure you draw on any predefined frameworks
you can find, where people have tried to make a system or process
for solving this type of problem. For example, if you’re
gathering information as part of researching a business plan,
then buy a good book on business planning from Amazon.com and
adapt the framework it proposes for your own use.
Finally, make a plan for gathering the key information
needed, and think about how much you’re prepared to spend
to get it.
A lot of information is relatively freely available,
within your organization or in good business, academic or institutional
libraries. Some information is packaged and for sale (for example,
detailed competitor financial reports).
Other information you
may need to gather yourself, for example in interviewing clients
or conducting market research surveys. And in other cases (for
example, in taking legal advice) it makes sense to pay a qualified
expert to answer your questions.
And at the end of all this research, make sure
you take a step back and look at the answers you’ve gained
through the filter of common sense. Ask yourself if any information
seems to be missing, or if anything you’ve uncovered jars
with your instincts and experience.
Finally, while information gathering is an
essential skill for an effective leader, bear in mind that the
information is not an end in itself. It is useful because it serves
as an input towards generating ideas and building vision. Later
on in this section, we’ll look at how to process information
to build this vision.
This is one of the articles in Mind Tools’
“How
to Lead: Discover the Leader Within You” course. This
teaches the 48 essential skills needed to be an effective leader
in today’s workplace. Click here to find our more about “How to Lead".
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In the next article, we look at how you can
use the information you've gathered to build Expert Power, one
of the most important positive power bases. To read this, click
'Next article' below.
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