
Pssst, want a stock tip that will make you rich? Okay, here it is: phone a public corporation and ask to speak with the CEO.
If a secretary tells you that the CEO expects to be busy in meetings for the next six hundred years, call your broker and sell the stock short. Any company unable to manage an activity that should last an hour is on its way down the financial tubes.
Although it's true that senior executives spend much of their time in meetings, you can bet that a business is in trouble if their meetings are out of control.
Surveys show companies waste an average of 20% of their payroll on bad meetings. And that's just the beginning of the problem. Meetings keep people away from the tasks they were hired to perform -- tasks that make money for the company and keep the business ahead of the competition.
Since bad meetings are so wasteful, you may wonder why anyone tolerates them. Unfortunately, many business leaders think that their meetings are just fine. They even believe that they're experts at holding effective meetings.
For example, when I phone companies to ask if they would be interested in improving their meetings, I sometimes encounter an assistant who assures me that the executives believe that they hold wonderful meetings. Then the assistant snickers, coughs softly, and regains enough composure to state that they don't need my services. At this point the assistant sounds like someone on a sinking ship who is throwing a life jacket into the water.
And that must make you wonder: why any intelligent person would hold a meeting that wastes everyone's time and produces nothing.
There are easy answers such as 1) they don't know that their meetings could be effective, 2) they don't know what an effective meeting is like, or 3) they don't know how to hold an effective meeting.
But what about the rest of them? That is, what about all of the executives who know how to plan and organize and run an effective business, but still hold bad meetings?
Let's dig deeper. These executives actually want to hold bad meetings because they prove to be useful. Here's how.
1) They provide refuge.
Bad meetings provide a sophisticated form of executive busyness. Some people find this useful because it keeps them from having to work on difficult tasks such as planning, coaching, learning, and communicating. Compared to these difficult tasks, sitting in a conference room is easy. In fact, it is so easy that a six-year old could do it, assuming you could convince the child to stay inside for such a pointless activity.
Better: An effective meeting is business activity where people work together.
2) They avoid responsibility.
Bad meetings never end with decisions, which means that no one ends up being held responsible for doing anything. Some people find this useful because responsibility implies accountability and accountability requires results. Thus, without responsibility there is no failure and everyone appears to perform well. This masks poor performance so that everyone continues to receive raises and promotions, even when they accomplish nothing because (you guessed it) they spent all of their time sitting in meetings.
Better: Effective meetings produce decisions that someone is responsible for implementing.
3) They provide excitement.
Bad meetings feature all of the elements of a good drama, such as conflict, tension, and pain. For example, the participants deliver self-aggrandizing reports, denigrate their colleagues, and engage in politics. Some really terrible meetings play out like pathetic battlegrounds with verbal gladiators battling for favors while the boss watches.
Better: Effective meetings occur in a safe environment of respect.
4) They serve food.
Bad meetings become an enviable executive perk when they provide snacks, coffee, and (sometimes) meals. The attendees then use eating to offset the boredom of having to hear meaningless discussions. It also saves them the expense of having to buy food.
Better: Meals should be a separate activity used to build relationships and (sometimes) rest.
5) They entertain.
Bad meetings resemble a party. People tell stories, trade jokes, and argue over trivia. Some meetings feature comedy performances by the office fool. Others feature humorous belittlements by the office bully. And if neither of these occurs, the absolutely unbelievable discussions amaze and entertain everyone.
Better: Effective meetings use process tools to make methodical progress toward results.
All of this shows why the type of meetings held in a company should be of major concern when making investment decisions. If the executives need to learn how, that can be fixed by scheduling a workshop. Then you might consider investing in the company, after they complete the workshop. If, however, the executives hold bad meetings to avoid fundamental leadership responsibilities, you should seek other investments.
IAF Certified Professional Facilitator and author Steve Kaye works with leaders who want to hold effective meeting. His innovative workshops have informed and inspired people nationwide. His facilitation produces results that people will support. Call 714-528-1300 or visit his web site for over 100 pages of valuable ideas. Sign up for his free newsletter at http://www.stevekaye.com
AP - Trying to survive a deepening recession, employers are cutting their work forces to the bone, leaving more Americans unemployed and with dim prospects of finding a new job any time soon.
AP - Gov. Rod Blagojevich faces almost certain impeachment by the Illinois House, a historic step that would trigger a trial to determine whether the Democratic governor should be tossed out of office.
AP - Lawmakers are under orders to finish action on President-elect Barack Obama's nearly $800 billion economic recovery plan by mid-February. But already it is plain that a set of serious fissures need to be bridged if the bill is to be completed within five weeks.
AP - Israeli jets and helicopters bombarded Gaza Friday and Hamas responded with a barrage of rockets, as Israel's government said it will press forward with its offensive despite a U.N. resolution calling for an immediate cease-fire.
AP - President-elect Barack Obama is completing his national security team by announcing his unusual choices for CIA director and a national intelligence director who may face tough Senate confirmation questioning over how he confronted the Indonesian military when civilian massacres were occurring in East Timor.
AP - Investors showed nervousness Friday ahead of the government's monthly employment report, sending stock futures moderately lower.
AP - Democrats are ushering in what they believe will be a new labor-friendly era in Washington with House votes on two bills aimed at helping women fight pay discrimination in the workplace.
AP - TV stations in 22 U.S. cities announced Thursday that they will start broadcasting their signals this year in a format designed to be received by mobile devices like cell phones, MP3 players, GPS units and in-car entertainment systems.
AP - Tim Tebow gave Florida the jolt it needed, and the Gators toughed out a second BCS title in three years. Their 24-14 win over No. 2 Oklahoma in a choppy, sloppy affair Thursday night made them a national champion.
Reuters - Steep falls in European industrial output underlined the severity of the world economic crisis on Friday and more grim news was on the way with the United States expected to report the biggest monthly job cuts in more than 30 years.
Reuters - Israel pushed ahead with its two-week-old offensive in the Gaza Strip on Friday, defying a U.N. Security Council resolution calling for an immediate ceasefire.
Reuters - U.S. President-elect Barack Obama's economic team is working on an overhaul the $700 billion financial rescue program with the aim of doing more to spur the flow of credit to the struggling economy, an Obama aide said on Friday.
Reuters - Russia's state-controlled gas monopoly said a deal to monitor gas exports via Ukraine would be signed on Friday, allowing for the resumption of supplies to Europe cut off by Moscow's price row with Kiev.
Reuters - Financial giant Citigroup Inc will support a proposal in Congress to rewrite U.S. bankruptcy law to help troubled mortgage borrowers avoid foreclosure, Chief Executive Vikram Pandit said on Thursday.
Reuters - A legislative committee on Thursday recommended the impeachment of Illinois Gov. Rod Blagojevich, citing widespread abuse of power including allegations he tried to sell the U.S. Senate seat vacated by President-elect Barack Obama.
Reuters - An analysis of proposals to overhaul U.S. health care by President-elect Barack Obama and members of Congress suggests it is possible to insure all Americans without significantly raising total health spending.
AFP - Israel battered Gaza with bombs and shells on Friday, vowing its offensive on Hamas would go on despite an order by the UN Security Council to stop the assault that has killed hundreds of civilians.
AFP - Russian gas deliveries to Europe could resume later Friday, the head of Russia's state gas firm said, raising hopes for an end to a transit dispute with Ukraine that has left several European states without gas at a moment of bitter cold.
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