Stanford’s Ed Batista has written extensively on giving feedback, but this article examines the dynamics of receiving feedback which may be even more important. He even takes time to dive into the body’s natural biological response to a perceived threat, and offers solutions on how to overcome that uncomfortable reaction.
One point that I believe is important to many of us in business school is the discussion of the “status” dynamic in receiving feedback. Batista writes, “And when feedback comes from a peer or subordinate, you may interpret their behaviors as a temporary assumption of a higher status role.” This is unfounded, and should be, according to Batista, interpreted as an attempt to help you improve regardless of the giver’s position or method in which they deliver the feedback.
Whether we’re personally receiving feedback or attempting to manage up through giving feedback, we should remember that the ultimate goal is professional development and most likely not an attack on a person. If feedback is not actually threatening, then we why do we continue to fear it?
Working at a large company, I frequently read and hear about the next initiative coming down the pipe to reduce costs, but rarely do those efforts create lasting change. We improve in the short term most likely as a result of the Hawthorne Effect, but the control measures used to lock in the change are either inadequate or not monitored to ensure compliance.
In this article, McKinsey & Company offers 5 tips to making cost cuts stick (it is also available in a podcast). Each suggestion is backed up with data and experience demonstrating the effectiveness or lack thereof in creating lasting change. The one that hit home for me was to “Clearly articulate the link between cost management and strategy.” The article reads, “the goal cannot be merely to meet a bottom-line target,” but that is frequently what our company does. I like how the article points out that it might not be wise to starve a business unit that is a shining star in need of resources for the purpose of simply meeting a savings goal.
As a business leader, I believe we should concentrate on what changes our business needs to be competitive in the market place, and not the attainment of some arbitrary savings target.
MEMBA learning community, Fall 2016- Spring 2017