In the past few years, the amount of research on intuition has been exploding as the academic community has started to recognize the positive impact that intuition has in both personal and professional lives.
A subset of this research has been dedicated to studying how intuition affects management and the businesses that they run.
So, what kind of impact does intuition have on businesses?
Bob Lutz, former President of Chrysler, recounts that, despite mounting internal and external criticisms, intuition was responsible for his company producing the incredibly successful Dodge Viper. Not only did sales begin to rise substantially, but both public perception and company morale significantly increased, resulting in the company’s turnaround in the 1990s.
Ralph Larsen, former Chairman and CEO of Johnson & Johnson, and Richard Abdoo former CEO of Wisconsin Energy Corporation, both explain that intuition is an essential part of decision-making at the top management level.
Many celebrated people such as Richard Branson, Albert Einstein, Tim Cook, Steve Jobs and
Oprah Winfrey, among others, run their personal and professional lives primarily using intuition.
In all, the research has studied hundreds of thousands of managers who make decisions in businesses from a very wide number of industries, too many to list here.
Of course, I have had an illustrious coaching career helping managers tap into their intuition, which helped them achieve tremendous success in the areas that they manage, which has led to positive financial ramifications.
So, what have the researchers found?
A growing body of research on intuition within a corporate environment, which has credited corporate intuition with helping to form a corporate vision, ethical decision-making, positively affecting those outside of the firm and making a significant competitive impact.
Intuition has also helped make faster managerial decisions, increased the ability to find out if another business colleague is trustworthy, enhance organizational learning and requires less reliance on data to make decisions.
Perhaps more importantly, intuition has been shown to positively affect a firm’s performance.
So, really, the evidence is clear that when you leverage your intuition in your business, there is a substantial increase in benefits in a huge number of managerial areas, and this is how your business will succeed!