In business, no serious CEO would run a company based purely on “feelings.” Imagine shareholders being told, “We slashed investment and doubled our costs because it felt right.” They’d be out of a job before lunchtime.
What is driving UK policy?
From housing to taxation, from education to energy — time and again, major policy is being formed with little reference to hard data or long-term thinking. Decisions are shaped to win an argument on TV or social media, not with an explanation of how they solve real-world long term issues. They are explained with reference to anecdotes and not data.
The result? Well as any business leader worth their salt would tell you, if you don’t have a strategy and don’t use data then you are very unlikely to be making good decisions in the long term.
Private Landlords: Does anyone know what the strategy is?
Take the private rented sector. What has been the strategy that is being pursued with respect to this sector? I couldn’t tell you and I’ve tried really hard to figure it out. It won’t help that since 2016 we have had 13 UK Housing Ministers! Can you name even a single one? Be interested if you could let me know in the comments section how many you remember!
Imagine for a second that you had 13 CEOs in 8 years. Do you think you would have a successful business? Even worse than the 13 ministers through the revolving doors is the facts that I don’t think anyone could really say with any confidence if any of them had a strategy or was even in post long enough to form one! Show me a business that has succeeded with that level of turnover in the top position.
We can guess all day as to what the overall strategy is, but we should not have to. I use my sector as an example as it I know it better but I am sure many reading this will be nodding in agreement with reference to their own industry.
Are Strategy and Virtue Signalling compatible?
Can we realistically expect to have a coherent plan if leadership is more driven by soundbites than reality? I read time after time politicians state things which are absolutely not true – without challenge. Just this week Sadiq Khan was quoted in numerous publications as describing investment properties in Nine Elms as “Golden Brick investments”, alluding to the notion that prices double every 10 years. Reality? Prices in Nine Elms since 2016 have DROPPED by 25%. Not one publication mentioned this very easy to research and highly misleading discrepency.
If you are basing your policy decisions on incorrect assumptions then how likely is it to achieve the desired outcome? I am pretty sure most businesses would fail if we took this approach.
If we don’t change we are DOOMED!
Okay, that is a bit of a social media style attention seeking statement – I exaggerate for effect. But is it not time we demanded more than vibes and cliches from our leaders. It’s time for data, evidence, and grown-up thinking.
We have had a long period of polulism without a plan and we seem set for more of the same unless we start to change the narrative. For our part I think it is important for business leaders, entrepeneurs and stakeholders to start pushing back harder on soundbites without substance and to bring data and facts to the fore.
Feedback as always appreciated! What are your thoughts on how we can do better?