Strategies for Managing Directors

Disruptors & Disruption - Are Just a Part of Modern Business Life Kim Radok February, 2016

It seems where ever you look these days, there is an article about the disruptors or disruptions to business. The fact is, businesspeople have always had their orderly thoughts and business affairs interrupted by disruptions. It is just part of normal business and personal life. The key to managing the disruptions is to understand which disruptors are the most important at any given time. On occasions, each disruptor will require priority action.

The main thrust of current conversions about disruptors and disruptions is focused on the impact of technology, social media, customer requirements and threats from competitors. Two other disruptive threats equally worthy of concern are from:

(i) Regulators and Legislators; and

(ii) family and friends.

Regulators and Legislators are having a greater effect on business than ever before.  With every new regulation or legislative change to protect "innocent parties" from "unscrupulous business people", costs increase. As a business owner or manager, it is your responsibility to ensure the business operates within the regulations and legislation.

The periodic needs of family and friends also impact on our business lives. Of all disruptors, these cause the most problems. Unfortunately, whether we like it or not, dealing with family and friends is a double edged sword.

Friends and family can cause a great deal of damage to our business because we like to think our family and friends will not hurt us. History shows us otherwise. Many a businessperson has found to their cost, family and friends are just as likely to steal from them, as will a stranger.

On the other hand, family and friends are your supporters when times are tough, mentors when you need a sounding board, and keep you grounded when you start acting above yourself. In turn, when they occasionally require support, we should give them priority attention over the business. This support may disrupt your business affairs in the short-term. In the long-term however, good family and friends help us develop in to better businesspeople.

Disruptors and disruption will always occur. People have had to manage and sometimes change in order to stay in business when disruption occurs. It is by managing and giving due respect to the type of disruptions is one of the key factors in surviving and developing a stronger business through these disruptive events. The value and support of good family and friends can never be underestimated as part of the process in managing disruptions.

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