Economics, Psychology, and Professional Coaching II: Multiple Realities

Thus, even when our manager is “speaking”—in the form of vocalized or written words or in the form of other images (visual, tactile)—these words or images will have different meaning each time they are interpreted. Economic meaning will shift depending on who hears the statement, what the setting is in which the communication takes place, and which words or images have preceded and will follow these efforts at communication. According to the dynamic constructivists, therefore, economic (and noneconomic) reality for the 21^st century manager is a shifting phenomenon that is subject to change and uncertainty, meant to be expressed in nuanced, ever-changing ways, again and again, in response to new contexts.

More than ever, the economics operating in our organizations are based on and dependent on these dynamic interpersonal conversations and shifting, context-based narratives. Most people, resources and attention in present-day organizations are devoted not to the direct production of goods or direct provision of services, but to the use of verbal and written modes of communication about these goods and services. Given these conditions, storytelling and narratives about economic conditions are central to 21^st century leadership. Stories are the lifeblood and source of system maintenance in both personal and organizational lives. The construction of stories about economic successes and failures by leaders is critical to the processes of personal and organizational transformation.

Clearly, the conversations that are most effective in bringing about organizational integration frequently take the form of metaphors that are conveyed through stories. Metaphors are used to portray something about an organization—in particular something about leadership, authority, and values. These metaphors are central to the organization, for they contribute to the conversations that are at the heart of the organization. They point to a shared set of signs and narratives, and as such create, recreate and strengthen the experience of shared values, The “almighty dollar” and the “bottom line” are themselves metaphors. They often carry great power and bring many important (but often untested) assumptions about the economic world with them. The metaphor of “bottom line,” for instance, not only carries the assumption that short-term profits are most important, but that the general accounting procedures are the best (and only credible) way to measure these profits (and losses).