Negotiations between family members who own a business are different – different from negotiations between non-family members and also different from negotiations between family members who don’t have a business. This is because family relationships are distinctive kinds of relationships, and having a family business raises the stakes of – and often complicates – a family negotiation.
Leaders and Leadership – Focus and Direction
There has been much talk throughout the Australian community recently – particularly the media – about leadership. Whether it be in Canberra or the business sector, on subjects such as live cattle exports, carbon tax or the NBN rollout, the discussions are highlighting the ongoing need for leadership throughout Australia.
However let us constrain ourselves here to leadership for the Organisation and those people who are the key stakeholders – including the staff. We ask you to consider the following sample as a blueprint for the Organisation’s leader – CEO – reporting to the Board. It is his/her way forward – with clear intent and purpose and implemented through very effective communication styles and skills. It was developed with and successfully completed by a “real” client. We trust you find it valuable. Read the rest of this entry »
Danger for Health with Communication Trends
One doesn’t have to be too observant these days to witness a growing phenomenon of our times – the younger generation’s love affair with electronic attachments. It would seem they feel undressed if they don’t have something hanging off them.
I drive past schools these days and wonder where the kids are that used to kick footballs on the oval? All I can see are groups huddled together with their heads down. This makes me believe the need for a headline.
Danger! Obesity on the increase – communication on the decrease!
Disengagement tops 80%
A research study shows the majority of Australians are going through the motions or worse at work, with 82 per cent saying they’re not fully engaged in their current role.
The study finds the bulk of workers (61 per cent) are not engaged and do little more than is necessary to keep their jobs. Worse still, 21 per cent are actively disengaged, saying they view their workplaces unfavourably and are highly likely to spread their negativity to others. Read the rest of this entry »
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. Read the rest of this entry »
Retaining Top Talent – A must read
“The Renewed Challenge that really should never have gone away”
There is little doubt that financing was a key area for organisational competitive advantage before the global financial crisis (GFC). For directors, the challenges now appear to be around the management of human capital and the fight for talent in organisations. As directors become more in tune with this, it is inevitable that boards will seek human resource information with the same degree of integrity as that expected of financial information. Systems and processes will become vital in establishing data that enables boards to proactively manage human capital – real people!
The US experience after 9/11 and after the GFC-driven downturn provides the “canary” for Australian directors. The thought of a W-shaped global growth pattern and the emergence of potential downturns in Australia only heighten the need for directors to become focussed on retaining top talent.
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:
- Learning organisation – is one that has developed the capacity to continuously learn, adapt and change with
- 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
- 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 Read the rest of this entry »
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. Read the rest of this entry »
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:
- 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.
- 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.
- 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.
