Tips (#6 -#10)

Tip #6: Beyond the impact on business performance, nepotism should be seriously discouraged from a public relations standpoint. Employing celebrities or figures in the spotlight may do more harm than good. According to “Good to Great” by Jim Collins, some historical failures in business have resulted when organisations had such figures among them. More often than not, such individuals rarely produce results and are mostly present as window dressing.

Tip #7: Gauge the necessity and usefulness of committees, especially in relation to the frequency with which they are relied upon. Irrelevant committees prove to be more of an obstacle than an aid, it is advisable to disband such committees upon identifying them. Finance committees are an example of such a committee that need not be used on a regular basis, relied instead only when board policies on finance and budgets need to be created. Alternatively, experts and consultants can be used on a short-term basis.

Tip #8: Key points that cover the organisation’s overall systems are more helpful to the board than any form of information overload. As a result, the board will be better prepared, better equipped and would be able to contribute better at making judgements that are more sound.

Tip #9: There are several avenues that introduce new ideas: unexplored resources, networking with friends and colleagues, training and other education materials etc. One good idea is enough to make a significant impact. Another important reason to consider scanning for fresh ideas is that your organisation needs it, having exhausted any prior innovation. Fresh ideas help improve existing control systems that need to be in alignment with global changes and industry developments.

Tip #10: Having motivated workers who contribute to their full potential on a daily basis are a valuable asset worth retaining, in spite of any hurdles that may be present. Consider profit sharing schemes to reward and keep your best employees. Pay attention and invest in those precious employees who remain self-motivated. Avoid regrets and loss of time and income by removing employees who only demonstrate good results, but never deliver them.