Too many meetings cause confusion, preventing implementation as we saw in the disaster in the south. Are meetings a good business strategy?
When a crisis hits, corrective action must be taken immediately. Meetings will muddle the issue if consensus is not achieved, which is often the case. If management is not ready when a crisis hits, the opportunity to manage the crisis is lost. That is why PR and crisis management agencies do their best to put strategic management resources in place.
Most local companies, however, do not listen and are caught flatfooted when disaster strikes. That is the Filipino way. No preparedness. Many see preparedness merely as an expense. What about you? Would you consider a strategy that can save the company, its future and sustainability an expense? How much is your company worth? Are you being penny wise, dollar foolish?
Companies have folded over the decades due to poor crisis management before the fact. At times crises can be caused internally, especially with family run businesses when the boss dies or becomes ill and siblings fight. Whatever the cause, if the company and the business model are sacrificed for personal interests, the business is sure to suffer. Irrational behavior resulting from personal vindictiveness becomes the issue. There is no room for personal anxieties, interests or internal family rivalries when it comes to sustaining the business.
Here again we must take into account the dictatorial powers of the proprietor who cannot be challenged. We often find this in family-owned businesses. Proprietors have the right, of course, to run their business however they choose. That’s capitalism. And because of this absolute power, the business model often suffers. We see family businesses fail after the proprietor or owner dies, rather than sustain over decades.
The only way to prevent this demise is to turn professional when success is achieved, and the proprietor is still healthy. Turning professional includes the need to establish crisis management, which prepares the enterprise with established procedures and options should disaster strike. The strategy is sound and should not be considered an expense. It is an investment in the future.