Archive for the ‘Family Business’ Category

The Power of Effective Communication and Personality

We come into this world with our own unique nature, pattern of behaviour and natural reactions to people. The following shows how you can use these differences for the benefit of all.

The CEO of an emerging company wanted his executive management group of four to attend a presentation very relevant to their stage of development. Even though the event was on a Saturday evening, the CEO, with good reason, could have simply required them to attend, but understanding their personalities, he chose to do the following. (more…)

Crucial Trends and Issues facing Executives in 2011

To Summarise:

  • Globalisation
  • Ethics
  • Workforce diversity
  • Entrepreneurship
  • Managing in an e-business world

Therefore organisations of the twenty-first century must be able to learn and respond quickly with the focus of a:

  1. Learning organisation – is one that has developed the capacity to continuously learn, adapt and change with
  2. Knowledge management – involves cultivating a learning culture where organisational members systematically gather knowledge and share it with others in the organisation in order to achieve better performance and
  3. Quality management – with TQM being a philosophy of management driven by continual improvement and response to customer, employee, and supplier needs and expectations.
    • It encompasses employees and suppliers as well as the people who purchase the organisation’s goods or services
    • The objective of managers is to create an organisation committed to continuous improvement in work processes and finally (more…)

Critical Conversations in the Family Business

Family Business Leaders get things done through others; they constantly need to prioritize tasks, develop growth strategies and delegate responsibilities. The most effective leaders also know how to have courageous conversations.

Most important leadership transactions still take place in live, in-person conversations. Virtual communications such as email, sms, Twitter and Facebook postings are faster, cheaper, and more convenient than in-person options for staying connected and sharing information. But problems arise when they are used to avoid critical or challenging messages that can have significant impact on the family business. Good leaders embrace technology to enhance communication productivity, but they are careful not to replace the in-person conversations required to get difficult things done.

There are three types of critical conversations for you to master as the Family Business leader:

  • one-on-one meetings
  • small group discussions
  • family meetings

And there are three ways for improving them. (more…)

Live your Family Mission, don’t just state it

The problem with most mission statements is that they are full of jargon and platitudes that apply to any organization, not just the one they were written for.

Don’t wring your hands over the wording: focus on action instead. A family vision or mission statement is an abstraction. A family business on a mission is inspiring.

Think about what it is you want your family to do — create the best personal computer, change the way people think about coffee, end hunger, etc. — and make that your charge.

Mission statements can galvanize and align employees (both family and non family alike) or explain to others what you do, but only if there is a true sense of purpose behind them.

Leadership and Reacting to a Crisis

No matter what the cause, disruptions to your company’s service can be devastating – for example a natural disaster or losing a key team member. Responding effectively can often be the difference between an interruption and a disaster. Next time you are faced with a crisis, try implementing these actions and responses:

  1. Figure out what happened. Too many leaders leap into action without assessing the situation first. Find out exactly what is going on and what’s causing it.
  2. Act promptly. Don’t wait for all of the data to come in. Once you have a firm grasp on the situation, begin taking action. Don’t act frazzled — that only worries people. Act with deliberated care and speed.
  3. Adapt. Don’t be wedded to a single strategy. Circumstances will change and new information will come to light. Be prepared to alter the course if necessary.

3 Actions For CEOs, MDs or Business Owners

Serious about changing your organization’s culture?  Here are three courageous actions that work!

1. Communicate the vision of change you want.

2. Identify, and communicate, at least two behavioural changes you plan to work on personally

3. Have senior executive do likewise

Do this and there will be much greater commitment to organizational change than if leadership makes out they are OK and the problems lie with everyone else.

How do you do this? Contact Carnegie to discuss.

6 Steps to Sustainable Culture Change

We have often heard “If you can’t measure it, you can’t manage it.” Very true, but do we then go on to improve it. Terms such as benchmarking, metrics, ROI, cost per hire, profit per employee, staff turnover, LTIs etc. etc. are not ends in themselves. While the need to know is important, they are indicators that point the way for improvement and changes to be made.

So what kind of changes are needed? (more…)

How Costly is Poor Leadership?

Today, there are so many books and articles on excellence in leadership that it is astounding engagement levels are running at barely 50%, costing this country $33 billion annually. Maybe we should find some courses and write some books on poor leadership and see if it makes any difference. (more…)

Etiquette – For Family Business working Together

There is much discussion about ethics in business, and of course it is important, but etiquette, sometimes seen as being old fashioned, has a key role to play, particularly in a family business.

Doing business with family and friends can be very rewarding. It can also be very complicated and difficult. To be successful, it always involves an even more stringent standard of etiquette than usual.

But if appropriate measures and safeguards are taken, it can make life, work and relationships a rich, rewarding tapestry that brings the best of both worlds. (more…)

When should we collaborate?

Collaboration is a powerful business tool that can create the spark to help transform organisations.

Today most commentators place coordination, cooperation and collaboration under the single banner of collaboration. But the important skill is knowing when to collaborate, cooperate or coordinate.

(more…)