Sal Caroniti, CPA knows that emotion can cloud judgement. He advises not to let it get in the way of important business decisions:
Not too long ago, I wrote a post about dealing with stressful situations in managing a business. One of the steps I identified in dealing with stressful situations is to keep emotion out of the decision-making process.
Many business owners are prideful people and understand that because of their accomplishments, leadership, and dedication to the people who work for them, their decisions impact the success of the company and its employees. Oftentimes, when a business owner allows his or her emotions to get in the way of properly evaluating the facts (both good and bad,) it leads to poor decisions that negatively impact the future of the company and its employees.
Employees of a company place trust in their employers. Here are some suggestions to avoid letting emotion get in the way of making sound and rational business decisions:
- The family dilemma: Business owners should not allow family issues or relationships to get in the way of making a rational decision. Thinking of the whole rather than the parts is often the most difficult hurdle to overcome.
- Do not procrastinate: Attacking problems early on will lead to a quicker resolution. Delaying attempts to resolve issues can allow too much time for emotions to get the better of you.
- Communication is important: When problems appear to have been properly analyzed and a plan of attack is in place, communicate the matter to those involved so that there are no misunderstandings.
Knowing the importance of how to handle emotion in the business setting may affect a variety of attributes in your life and the lives of others. Remember: handle family matters delicately, do not procrastinate, and communicate effectively to all involved.