Knowledge Management

Hindsight Is the Key

The answer did not come immediately, but it eventually struck him that business decisions were no different to decisions taken in other areas of life—better made with the benefit of hindsight.

This wasn’t a particularly earth-moving moment, a surprise, or rocket science until the author discovered how absent hindsight was in the world of business. The author’s research at the time revealed that British workers at all levels acquired little historical awareness of business from the wider educational system or the workplace. While there was a passable level of exposure in schools and universities to the 220-year-old industrial revolution and economic history dealing with macrofiscal issues, there was a noticeable absence of ...