With the recent collapse of the Dewey law firm making the headlines, what can CEOs, business owners and senior leadership at organizations take away from this event?
Take a look at whether your departments and divisions are working collaboratively to both ensure compliance mandates are being met and better performance is being achieved for your business. If your organization is still operating in a siloed environment, this is certainly not in the best interests of your business.
In this challenging business environment, there are enough factors outside of your control that can impact performance. Businesses can combat these external forces by focusing on factors that are within their control. The creation of an operating environment which pivots on the basic principal of interdependency is one such factor that can help effectively manage your business at a higher level. The concept of interdependency establishes an operating environment in which an organization is not solely reliant on a select few individuals to manage and lead. By breaking down silos a business can better leverage existing strengths of its people while also minimizing weaknesses.
You should work to identify new or untapped skill sets among staff performing jobs they have always done to promote more collaborative and complementary ways people can work with each other to meet your business goals. Sound governance policies and programs should be beefed up and reinforced throughout your company, regardless of your size. To make it all mesh together, a culture of accountability and alignment must be instilled.
Trilogy Partners has operated under the core belief of interdependency; internally with our own operations and externally with our clients. No matter your size, the examination of your current personnel, their skills and your needs are essential considerations in managing your business while providing a vehicle for you to manage your personal life with a greater sense of “balance”.