Glass half empty, or glass half full?
I had to laugh when John Davis used the words ‘coping
strategies’ in the very first sentence of his article about management styles
in family businesses for the November 14 Harvard Business School Working
Knowledge newsletter. How appropriate, I thought – because coping strategy
is a term often used in dysfunctional families.
What he went on to say in this installment of a series of
articles on Managing the Family Business was that the traits of optimism and
pessimism are both important to the success of a business. But in a family
business, how members of the team react to and respond to these leadership
styles is what is important.
It was especially interesting to me, an admitted optimist,
to read his thinking on the how the two traits conversely affect everything
from operations to strategic planning to investment. Not every family illustrates dysfunction. Many family businesses run smoothly because of their innate ability to balance perceptions and personalities.
In response to a slow economic recovery, Davis writes: “When
the news is bad and likely to get worse, a pessimist is your best ally because
pessimists thrive on fixing errors.”
There is the need to balance these two traits, too. Davis found, “When
testing strategic plans, deploy defensive pessimism, imagining all the things
that can go wrong in the future. But when the task requires flexibility and had
work toward uncertain goals, build teams with optimists.”
The Working Knowledge series by Davis includes topics of
Firing the CEO, Entrepreneurs Needed for Long-Run Success, and designing
Leadership Roles for success in your family’s business.
Even though it should not be, leading, managing, and
governing a family business is arguably different. Personality traits aside,
glass half full or half empty, the operations of family businesses – mom and
pops or multinationals – are different from other business structures.
Davis’ articles give reflection to the strengths and
capacity of family businesses. The Blue Grotto team has been lucky enough to
work with several family-owned and operated businesses. One of the things that
fascinates me most about family businesses is that even though, generationally,
family members’ perspective – on the business, their industry, innovation, and
the changes in things like social media – may be radically different, they share
in a commitment to the success of their company and the personal responsibility
for the health and livelihoods of their employees, their customers, their
vendors, and even the communities in which they operate.
Thank you, to HBS and John Davis for continuing to highlight
those strengths and opportunities of family business leaders.
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I, myself, am a product of family businesses.
My grandfather, George Hammond,
founded St. Paul-based Awards By Hammond
more than 60 years ago.
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Email me with your perspectives on the nuanced styles of
family business leaders.
As a matter of disclosure, I, myself, am the product of
family business leadership. Many generations of my family have served as sole
proprietors, opened new businesses, and turned struggling businesses around.
And optimism is met with pessimism in any family J.
Yvonne Hundshamer
President, Blue Grotto Inc.yvonne@bluegrottoinc.com
Labels: family business
posted by Blue Grotto Inc. @ 9:47 AM
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