Assumptions are obviously a critical part of functioning as a human being. If we second guessed every decision and attempted to plan for every conceivable contingency, we would likely never leave our beds in the morning. That said, one of the most striking things about the current global financial morass is the number of bad assumptions made by some of the world's most admired companies and corporate leaders. Entire industries have changed in the blink of an eye, with every company in the industry having bet the proverbial ranch on a similar series of flawed assumptions.
 
While no one has a magic crystal ball and it is far easier to see what is in the rearview mirror than what is around the next bend, these flawed assumptions have cost trillions of dollars worldwide and will likely reshape the economy in ways that few can even begin to understand. Watching some of the best and brightest struggle to overcome assumptions about everything from consumer spending to oil prices makes one wonder what bedrock assumptions in their our professional lives are subject to upheaval.
 
In the last decade when examining what makes a great leader, traits like the ability to inspire others, vision, charisma, management prowess and other criteria have been held up as central attributes, with an ability to question assumptions seemingly overlooked. Being a true visionary requires not just an ability to guess the future, but to examine assumptions that may be invalid, or stacked upon a house of cards of other flawed assumptions. When words like always, never and "of course" start becoming common "wisdom" consider what any underlying assumptions to their related statements might be, and what would happen should the assumption become invalid.
 
Many companies seemingly paid increased attention to the risks of flawed assumptions after the various terrorists attacks in years past, under fancy monikers like risk management and disaster planning. Yet risk lurks in far more mundane corners than global terrorist conspiracies. Ask yourself what would happen if a key assumption in your company or industry changed, in the worst case seemingly overnight. If nothing else, the exercise of producing a contingency plan or two might shed light on an otherwise overlooked strategy, or provide an arsenal of tactical moves should market conditions change slightly. While bad assumptions have irreparably harmed some industries, taking the time to identify and investigate assumptions can have similarly dramatic benefits.

One of the most dangerous situations to find yourself in is that of complete comfort. While many hold the idea of "life on easy street" as their ultimate objective there is a definite dark side: lack of personal growth. While needlessly inflicting self-induced pain is counterproductive, equally dangerous is resigning from challenge, whether physical or intellectual. Being the smartest person in the room is certainly a nice ego boost, but if one does not quickly find another room, they will rapidly suffer from intellectual stagnation.
 
Just as athletes constantly look for more difficult training regimes, or benchmark themselves against a superior competitor, look at your relationships and surroundings and ensure you are being challenged. Seek out conversations with those who are more knowledgeable or who hold a position contrary to your own. Take on an assignment at work that is outside your comfort
zone, or requires knowledge and skills you do not yet possess. There are few victories sweeter than those that come when we enter a situation where we worry about failure, then rise to the occasion and walk away with new skills, knowledge and confidence. Always remember that we gain strength by flexing our muscles, not standing about idly admiring them. 

About once a year I bear witness to a most interesting corporate phenomenon: an email "reply to all" fiasco. The most recent happened this month at a client when someone mistakenly sent an email to an address that forwarded to all internet users in the company, essentially every person within a global Fortune 500 corporation. The email was a request for access to some system for some poor soul, and was an innocent enough mistake.
 
The email chain rapidly entered its initial phase, the "It's Not Me" phase, and the first ten or so emails (sent to everyone in the company) helpfully notified the sender they were not the right person to handle the request. The next phase, the "STOP REPLYING TO ALL" phase, is always an interesting study of human nature. With the norms of personal interaction removed, pleasant suggestions not to use the "Reply to All" button (sent to "all" of course) quickly descended into angry grumbling, and by the 60th or so reply, large fonts with excessive numbers of exclamation points (again sent to "all") demanded that people stop replying to all. By about the 80th email in the chain, it seemed the more repressed employees of the corporation had taken license to fire all starboard guns, and every click of the refresh button in my email client brought another reply that ranged from menacing to abject frustration, to the one humorous gem of the chain, where someone replied "Approved" to the original request for access.
 
Approximately four hours and 97 replies later, someone in IT managed to kill the email chain, and I could only wonder what goes through the mind of the CEO as they watch otherwise civilized people squabble over an innocent mistake.

I try and meet my father in Las Vegas at least once a year. Vegas is a perfect destination for a long weekend since there are direct flights to Vegas from nearly everywhere, great restaurants, and the obvious distractions of nightlife and gambling. While I've enjoyed all these aspects of Vegas, perhaps the most interesting thing about Vegas is that the city is fundamentally capitalist in the rawest form possible: everything has a price.
 
A restaurant with a 45 minute wait for a table will have something "suddenly open up" in an ideal spot when a $20 bill appears for the host or hostess. Hotels will be out of suites, and then seconds later with nary an apology or explanation, a room on a prime floor will available for "free upgrade" once an appropriately denominated bill appears on the counter in front of the check-in person. Everyone knows about free drinks while you are gambling, but an appropriate tip will keep them coming when trying to recoup from a tough time at the tables. Like most I have heard stories of the darker side of Vegas and assume the "pay to play" strategy extends to more nefarious activities, but for the casual tourist like myself, it is quite amusing to be treated like an insider, assuming you are willing to pay the price.