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Bring meaning(s) to your business with glossary
Its now widely recognized that one of the most potent contributors to confusion and conflict in family owned businesses is communication failure. Founders, successors, senior executives, parents, siblings, family stakeholders outside the business, non-family employees - all may suffer needless frustration and sub-par productivity because they dont speak a common language.
So I directed this columns Verbosity Brigade, a crack team of MBA students who give unnecessarily complex answers to simple questions, to compile a short glossary of words and phrases that affect communication in family business settings. Here now is the Brigades output, and I hope it helps to settle a lot of the bluster and misunderstanding that keeps family companies from performing at their best.
Ask your mother: a phrase denoting either an unwillingness to answer a question or, alternatively, the recognition that the decision will be made by the person whos given it some serious thought, as in Im not sure how much you should be paid as assistant vice president. Ask your mother.
More: bizjournals.com
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