You're faced with conflicting opinions on market changes. How do you decide on the best approach to adapt?

The best approach is to develop a broad understanding of the industry landscape before diving into specifics. This overarching perspective allows for a more informed analysis of the various viewpoints and helps identify key trends and critical success factors. This foundational knowledge will enable us to spot critical points more effectively as we delve deeper into specifics. That will be base for open discussion. We must create a safe space for dialogue where all voices can be heard without fear of misinterpretation or negative repercussions.

Gathering data itself starts developing a view and one tends to have a Bias. The idea is to start the conflicting situation data collection as two separate events. This will help bringing in unbiased set of information together

In my experience, following steps can be useful: 1. Ensure the underlying problem you are trying to solve is relevant and clearly articulated 2. Verify if there indeed is a conflict: Ensure you use reliable data sources and have a clear understanding of assumptions & 'missing pieces of the puzzle' 3. Leverage qualitative/anecdotal evidence as an initial step to conflict resolution 4. If needed, reach out to domain experts within your firm or externally 5. Collate information from steps 1-3 to distill the essence of market trends 6. Assess impact of the market trend (e.g., no action, build, buy, partner etc) 6. Take relevant action

Conflicting opinions on market changes? 3 steps to decide: 1. Map stakeholder biases. Know where each opinion comes from. 2. Seek outliers: What voices are we missing? 3. Uncover and test assumptions. Run small-scale experiments before big moves. At GE, this approach helped navigate complex global markets. It works in academia too.

When faced with conflicting opinions on market changes, diving into your research is best. Start by gathering a wealth of relevant data—don’t just skim the surface. Dig into the drivers behind these changes to get a full picture. As you sift through opinions, keep an eye out for biases. It’s not about dismissing viewpoints but understanding the context behind them. This approach allows you to extract valuable insights from each perspective without getting pulled into anyone's agenda. By grounding your decisions in well-rounded research, you’ll be better equipped to adapt confidently to market shifts.

When you bring two distinct data information together, it helps bringing the biases out. 1. Bring out the Biases 2. Map the information to each bias 3. This will bring the actual information and bias separately

It is recommended to use structured frameworks to develop/assess scenarios (e.g. 3 Horizons or Plausibility Matrix), as well as to do it in a team using collaborative tools (e.g. Liberating Structures)

Don't be afraid to ask for help or opinion. 1. Region based experts or Industry based experts 2. Market Analyst opinions The opinions of the expert will help out manage the bias and understand the market better

Agility is the 21st century framework that should run in the blood of all organizations. Market changes are like technology. They change so often. Here is a 3 step approach I would take to deal with it Flexible Thinking: Quickly adapt your mindset to evaluate new information and perspectives. Rapid Decision-Making: Make swift choices while staying open to adjustments as situations evolve. Continuous Feedback: Regularly seek input to refine your approach and respond effectively to changes.