Search for control due to complexity

The Impact of Globalisation on Control and Individualism

Globalisation has led to complexification. No individual can control and loses orientation as a consequence. To cope with this situation, individuals have to minimise themselves and limit to their individualism to survive. This leads to increased individualism.

Illusion of Control and the Reality of Anxiety

Basically, we are confronted daily that we are not in control. The increased complexity makes people blind. Actually, control is nothing but an illusion. What we do when experiencing (perceived) control is replacing the uncontrollable reality by an illusionary, virtual controllable reality. You can also say that each time we gain control we lose freedom. Moreover, anxiety concerns the feeling of losing control for nothing. Fear can be considered anticipating what could happen and does not have any contact or relationship with reality. This is why anxiety or fear is so effective. It is nothing but fantasy; it concerns a confrontation with what my mind imagines. Eventually, we are slaves of meaning. Unfortunately, many things we do not know we fill out from the perspective of a fearful or anxious person.

Coping with Uncertainty in Traded Markets

In the traded markets, parties have to cope with uncertainty in various ways. One way concerns the recruitment of employees that can handle dynamics. They require specific characteristics like pioneering, elasticity, vigilant, malleable and ingenious. Traders, for instance, constantly deal with uncertainty. To minimise the risk that their decisions will lead to undesirable outcomes, they must develop the competences and judgement necessary for reducing this uncertainty.

Strategies for Managing Uncertainty

Dealing with uncertainty in decision-making relies on identifying and assessing the factors that can affect outcomes. Uncertainty is best managed by applying scenario-planning tools and sensitivity analysis. Coping with uncertainty can be achieved by analysis. By thoroughly analysing a market in a fundamental way, as well as technically, quantitatively and psychologically, the level of uncertainty can be considered lower, and one will be able to take action more swiftly and more accurately when outcomes turn out negatively.