When You are Thirsty, You are Not Going to Argue Over the Temperature of the Water
This title seems to be an obvious principle. Yet, many troubled businesses are the result of petty quarrels and disagreements amongst partners and major shareholders. There are also many family-run companies where the family members soured their relationships ruining the business.
Oftentimes, the trouble does not start with the competition or the staff, but arise out of major disagreements amongst the key shareholders. Disagreements can be healthy if they are properly controlled and managed. However, the disagreements can become dysfunctional when they are not properly resolved and allowed to fester. These can result in the break-up of the entire company. For instance, the famous Swedish pop group ABBA was once the largest export revenues for Sweden in the 1980s, however the group broke up and its fame went with it. Also Simon and Garfunkel were very popular pop singers as a team. When the partners broke up, they also lost their popularity.
When the major shareholders disagree, a feasible solution is to bring in professional managers from outside to run the business. However, they have to be given the full autonomy to run the company.
Other suggestion to get out of the quandary may include buying out the other dissenting shareholder. Businesses are already fraught with all kinds of challenges. As a house divided cannot stand, a company that has divided teams will not be able to handle the vagaries of the market dynamics. All the energies and valuable resources will be expended on office politics and putting out fires, when these should rightly have been directed externally to manage competition, etc.
In tough times, every body has to compromise and set aside their differences. Political fights should not be allowed to get out of hand. People should concentrate their energies to quickly getting the organisation back on an even keel. A right dose of internal conflict and competition can be healthy engendering new ideas as well as generating checks and balances. However, they have to be controlled and managed within boundaries.
Otherwise, too much backstabbing and sabotage will rouse suspicion and faultfinding. Then the atmosphere becomes unhealthy with self-interest and politicking overrides the interests of the company.
Even in good times, the finest plans can be derailed through petty disagreement such as the assignment of responsibility. During bad times, harmony and co-operation amongst all the key members are imperative.
Dynamic organisations are the ones that actively challenge the status quo as a means of staying competitive. This requires leaders who can positively use conflict and tension. They must be able to stimulate a climate that challenges and spurs staff on without stifling them and causing them to be dysfunctional.
Therefore, when you are thirsty and water is available, you do not argue over the temperature of the water or the type of water container. You quench your thirst by drinking the water that is available to you. When you are thirsty and water is available, you are not going to argue over the temperature of the water.
Related Tags: market, partnership, quarrels, major shareholders, family-run business, troubled business, abba
Dr Mike Teng (DBA, MBA, BEng) is the author of best-selling book, "Corporate Turnaround: Nursing a Sick Company back to Health." He is known as the "Turnaround CEO in Asia" by the media.http://www.corporateturnaroundexpert.comhttp://www.corporateturnaroundcentre.com
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