Sunday, July 15, 2007
Family Business
I was posed a question by Father, the CEO on how to get his Sons, Second in Command, to work as a team, not as father-son, but professionally. Quite obviously, evidences of generation gap is glaring, and over-powering them so much so that common sense has become not so common.
It is a challenge. And the same challenge permeate almost all family business.
How often have we heard analysts mentioned that so-and-so companies are successful, and invariably, the word "professionalism" is highlighted. I think, that is the key word.
Professionalism means a few things. First of all, professionals have a winning mindset, and strive to WIN at all costs. Just look at professional athletes, the like of Tiger Woods in golf, Roger Federal in lawn tennis, and all the top performers in their respective fields.
Secondly, professionals set asides own differences, embrace the common vision and objectives, and having the internal locus to achieve what are expected of them. This is evidence in team sports like basketball, soccer, and rugby.
Thirdly, professionals knows about Team Work. None of them think that they are bigger then the team. Just like in the human body, each body part (examples, the ears, eyes, hands, legs, etc) has its functions, and must play its part unselfishly.
Fourthly, professionals improve themselves through continuous learning.
Fifthly, professionals inspire others, by leading by examples, by encouragement, by results.
Lastly but not the least, professionals run things via transparency, accountability, and integrity.
If a family business is run professionally, by professionals, the hanging dark cloud of "family business" would be dispelled and over time, become a non-issue. It will then be just business.
It is a challenge. And the same challenge permeate almost all family business.
How often have we heard analysts mentioned that so-and-so companies are successful, and invariably, the word "professionalism" is highlighted. I think, that is the key word.
Professionalism means a few things. First of all, professionals have a winning mindset, and strive to WIN at all costs. Just look at professional athletes, the like of Tiger Woods in golf, Roger Federal in lawn tennis, and all the top performers in their respective fields.
Secondly, professionals set asides own differences, embrace the common vision and objectives, and having the internal locus to achieve what are expected of them. This is evidence in team sports like basketball, soccer, and rugby.
Thirdly, professionals knows about Team Work. None of them think that they are bigger then the team. Just like in the human body, each body part (examples, the ears, eyes, hands, legs, etc) has its functions, and must play its part unselfishly.
Fourthly, professionals improve themselves through continuous learning.
Fifthly, professionals inspire others, by leading by examples, by encouragement, by results.
Lastly but not the least, professionals run things via transparency, accountability, and integrity.
If a family business is run professionally, by professionals, the hanging dark cloud of "family business" would be dispelled and over time, become a non-issue. It will then be just business.
# posted by Dr Roland Chia @ 9:12 PM 
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