With all of the recent upheavals in the stock market, the housing market, the job market, and the economy in general, sometimes it feels like a world gone out of control. But then the quality practitioner in me says, "Hmm.... is this special cause variation or normal variation?" Because, of course, our responses to variation should differ depending on which is the underlying type.
Well, not being an economist, I can't really say. However, I suspect that just like the problems we encounter at work, there are multiple root causes at play. And some of these might actually rest with our own actions. For instance, I'm sometimes guilty of not paying sufficient attention to the quality of information that I'm using to make decisions. Am I too easily swayed by the opinions of one or two "experts" that I fail to really understand the risks and benefits of a potential choice? Do I fall into the trap of believing only the data that supports my initial position and reject any other that might challenge my firmly held opinions?
There are so many opportunities for us to apply the quality skills and methodologies we use in our work to other areas of our lives. But sometimes, I know that I lack the discipline to do so. I guess that I need to dust off some of those tools and approaches and apply them in these uncertain times!
