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Boardroom is such a place, where Chairman, Managing Director along with all Directors, senior executives or even stakeholders are meeting together to decide strategies for the growth of the company or any crucial situations occurred.

These high level thinking discussions are confidential and leading to important decisions and execution plans.

The collective ‘Intellect’ of the persons gathered here is the ‘Brain’ of the company.

Healthy Brain only allows; Divers Perspectives, Open Communication and Collective Ownership.

‘Ego’ affects all these qualities due to flows in individual ‘Thinking Capacities’.

This Over Estimated ‘Self’ creates ‘Cognitive Biases’ and ‘Heuristic Mindsets’ (i.e. mental short cuts to arrive the decision).

There are many reasons for this Inhibiter like,

• Procrastination in Selection of the successor and Implementation of the Plan due to status quo, negligence about its importance, fear of disputes, fear of acceptance of the candidate by the system, etc.
• Selection of Nominee itself is difficult due to more number of eligible candidates and relationships involved.
• In case of single candidate, fear of ability of the candidate or no confidence is making delay.
• Unsuccessful successor, because of Improper Induction and lack of patience.

This is a typical outcome of the first Inhibiter, Ego in the boardroom. Other reasons are like,

• Lack of Trust within the members due to internal politics.
• No transparency in the Board members leading to hoarding of information and lack of knowledge flow.
• Wrong selection of board members.
• Certain members are already passive or contented.
• Improper appraisals of members.
• Disparity in age and knowledge.

Conflicts are very common and inevitable when family members work together in business. It is a situation when the interests, needs or values of involved persons interfere with each other.

‘Conflicts’ can be an ‘Opportunity’ to know each other, to get the information known to each other from totally different perspectives if it is managed properly.

If that management is poor, it becomes an Inhibiter for business growth.

Main Reasons

• Basically no idea about this kind of management.
• ‘Better to avoid or neglect rather than facing’ is a common policy when situation arises.
• Secretly completing own desires at the company’s cost becomes practice, and lack of trust between members weakens relations.
• Lack of accountability system of Board members.