Fear - the Actual Cause An Enterprise Fails
There is nothing to fear except the persistent refusal to come across out the truth,
the persistent refusal to analyze the causes of happenings.
Dorothy Thompson
The news reports that businesses fail for a variety of reasons. Mismanagement, the economy, competition, lack of capital and poor customer service just to name a few. But in reality, all of these reasons come down to 1 word - fear.
Fear is a powerful driver of folks and circumstances and can destroy a organization. Why Because fear is contagious. The far more fear spreads by way ofout an organization,
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Let's take the recent shut down of IndyMac Bank as an example. On July 9,
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The OTS has determined that the present institution, IndyMac Bank, is unlikely to be able to meet continued depositors' demands inside the regular course of enterprise and is therefore in an unsafe and unsound condition. The immediate cause of the closing was a deposit run that began and continued after the public release of a June 26 letter to the OTS and the FDIC from Senator Charles Schumer of New York. The letter expressed concerns about IndyMac's viability. Within the following 11 organization days, depositors withdrew much more than $THREE billion from their accounts.
Although Senator Schumer and others combat this claim with other realitys,
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While the above is really a dramatic example of fear wreaking havoc on a company, the typical progression of fear and its consequences are usually slower in their growth and impact and not usually readily apparent.
It can start with a negative employee. A couple of other people join in and collaborate with negative thinking like disagreeing with management decisions; gossiping about co-workers andor becoming disinterested in activities which are in the best interest of the organization. If enableed to continue, this sort of behavior spreads through a company like wildfire. Left unattended for months, fear sets in and can result in a dramatic drop in employee morale, leading to the possible for employee turnover, lack of client retention and drop in revenue and ultimately profit.
An additional example is dissention in management. Usually times this leads to managers' decisions, which were once made for the great of the organization, giving way to decisions which are based on personal agendas. Once this occurs and is left unchecked, it seeps into the minds and activities of the staff and leaves them fearing for the future of the organization resulting in a comparable outcome - loss of revenue and ultimately profit.
How do we guard against this
It takes really strong leaders to combat the ill effects of fear. People want to follow someone who will keep their fears to themselves and share only inspiration. The leader of the organization wants to come to terms with the fact that fear can strike at any time, for many different reasons and requirements to be addressed instantly.
When patterns begin emerging of any negative behavior whatsoever,
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discount wedding bags, monitored and seen via to its conclusion. This must be done with each event that surfaces. If it's revealed that it is an isolated circumstance, then move on. But if it is a pattern which will likely continue,
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Put fear in its place. Stamp it out at each turn. Implement new procedures and processes to guard against fear's negative impact. Take a look at this every single day. In the event you turn your head hoping it'll go away, be assured it won't. And be assured it will have a negative impact on your organization like a slow-growing disease.
But there is a cure. Be persistent and consistent so your business is fear resistant!
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