How do you reduce fear and improve performance?
I'm interested to hear diverse views and opinions on this racy subject; everyone wants to know how you get to operate a company where there is an absence of fear. What do you think?
The concept of psychological safety (Harvard Business School professor Amy Edmondson pioneered this topic) plays an important role here. In this post I write about the topic: https://corporate-rebels.com/psychological-safety-79185/
- Removing “trust-destroying and demeaning practices” while establishing a “default trust culture”.
- Make it safe to speak up.
- And, make it safe to fail.
Most of us know monopolies are bad. “They have no incentive to deliver better products or to get more efficient.” And if a monopoly can do whatever it likes, the victim is likely to be the customer. If it exists outside an organization, measures can be taken to end that. Within organizations, creating monopolies seems standard practice, but why!?
“It was like being with a parent that didn’t really want us”, says CEO of GE Appliances, Kevin Nolan. He explained: “The one hope everyone had was that Haier bought us because they wanted us, and we were curious to find out what that would mean”. 4 years later, we visited to find out how GEA was doing. Getting to talk to them was harder than we thought: “Our managers and executives are currently working on the assembly lines.” They are doing what!?