Managerial Acumen II

Obviously, konwledge alone does not make a good businesssman. I remember a remark that a famous Marxist economist at the University of Tokyo made in early 1950s about the stock market. When asked to give a short-run foerecast, the proffesor refused, saying "if I could foretell accurately how stock prices were moving, I would be so rich that I would't be here teaching." One can learn a great deal from experience, but one has to have specialized knowledge in order to elevate it to the level of wisdom. A man of minimal formal education, Matsushita made up for his lack of learning by listening to other people and absorbing information and ideas everyday, as well as by constant soul-searching. In this age of mass communication, our lives are flooded with information, some of which is true and much of which is false or trivial. Economists and analysts are saying all sorts of contradictory things about business conditions, for example, on the political situation as well, we are daily exposed to a wide spectrum of opinions. As a passive receptor of information, each of us must be capable of making sound judgements on issues we face as citizens and in our work. In a way, life is continum of decision-making process to choose the best course of action at every crucial point, we must be open to different views and free from biases. Ultimately, however, we are each responsible for our own decision. As Matsushita knew, this hold true for life as well as business.

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