"Those who think that they know, but are mistaken, and act upon their mistakes, are the most dangerous people to have in charge."
One thing business and the free market will always do is discipline ignorant people. By ignorant, I mean people that don't take the time to understand what it is they're into, and make decisions based upon either faulty information or their own personal belief system regardless of the consquences.
These types of people are idealists, some of the most dangerous people anywhere, as far as it comes to being in leadership in any area of life. Many of these types of people become activists. They can't compete in the real world, so they are always taking little shots at it from the sidelines in an attempt to try to create the world into their own image.
The problem with those that think they know, is that they don't, but have enough fortitude to take actions in spite of their ignorance. They are willing to take people down a dark, hopeless path that they eventually find out leads to nowhere.
As far as it relates to business, the market disciplines these types of leader wannabees by basically ignoring them. In other words people aren't interested in buying the goods or services they may be offering.
Great business leaders will be realists; understanding the market and the products and services they offer it. They don't make decisons based on ideals, but on the information they have concerning what customers want. Business is nothing more than that.
We need to look for and be leaders in business by focusing on excellence in serving the market we inhabit. We need to resist strongly those always around us that try to use guilt tactics to get us off the path we're traveling.
There's nothing worse than someone thinking they know something in any leadership position, who in reality is ignorant and leading a business down the wrong path. The great thing about capitalism is it corrects this type of person through the actions of their customers: whether consumers or businesses.
This is one of the reasons capitalism and business is hated by so many; it reveals the folly of their ideals, and misunderstanding of the real world. Don't be one of those taken in by all that.
Margaret Thatcher Resources:
The Best Quotes From Margaret Thatcher's 'Statecraft'
Margaret Thatcher & the Revival of the West
Interview with Margaret Thatcher
Magaret Thatcher's Life in the Shadows
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