More information means more to manage

Years ago, I heard a speaker use this short story to describe how it is to be in business. I paraphrase. “Being in business was like paddling a canoe down a river on a nice day. For much of the trip, the water was calm and you were carried down the river. When you encountered rapids you would have to pay attention and utilize your management skills to navigate the rapids until you reached calmer water. Today, business is all rapids in bad weather.”

The challenges of operating an organization, in my opinion, have become more difficult because of the various elements that have to be managed. There have always been the classic management elements of personnel, finance and machinery. To that list you can add internal information technology, social media, global competition, logistics and technology of processes, and I am sure your list continues.

Is it just me, or do international events have quicker impact on decisions that we have to consider? Also, it seems that information coming from the federal government has moved from an occasional interest to a daily consideration. All this adds up to more information analysis.

If you are a member of an executive team, you have probably put in place formally or informally a process to sift through the flood of information that pertains to your organization. Executive staff meetings serve as a processing crucible for information and planning to address the areas of concern or opportunity.

For those who are not members of an executive team, you can find some of the collective information analysis at your local chamber of commerce through the various subcommittees that focus on particular industries and topics. Your local industry trade group is also a good source for industry-specific information.

Additionally, you may receive some information analysis from your Kiwanis Club or other service club. Your alumni associations, social organizations, sororities or fraternities and even your workout class might be good sources of information analysis. Your accountant, attorney, banker and other service professionals are valuable sources of information.

However, even considering all of the various sources available to you, I suggest we retool an old idea for a new purpose. The concept of the networking group could fit this purpose very well. Groups of managers could come together to have a cup of coffee or a meal to have a structured conversation about topics of interest. If the members are from different industries, the diversity of information can be an advantage for the group. Representation across the political spectrum would also be advisable. The meetings could be virtual, meaning via Web conferencing, or even conference calls.

You might consider having a paid facilitator to keep conversations on topic and to handle infrastructure and coordination issues.

How could you improve your information analysis in the current environment?

Cornell Wright is an author and the lead trainer, consultant and an Executive Coach at The Parker Wright Group Inc. in Stratford. The firm assists clients to increase their market share by improved customer service. He can be reached at 203-377-4226 or cornell@parkerwrightgroup.com.