A five-year study found that employee emotions significantly impact a company’s success. Interestingly, when an employee makes a mistake and isn’t punished, they tend to perform better. A company wants its employees to try, experiment, and succeed, but it is hard for the company to grow if employees are blamed when they make mistakes or fail. Over time, the company can unintentionally become a bureaucracy, which discourages employees from working effectively. Conversely, when employees and the company work together toward the same goal, great success follows. We mistakenly believe that giving employees monetary bonuses will motivate them. However, more factors can encourage people than just money. Not only is money a limited motivator, but it is also costly compared to its effectiveness. When a company becomes an unpleasant place to work, managers, employees, shareholders, and customers all become unhappy. But when it becomes a good place to work, everyone is happy. There’s no ambiguou...
The founder of the guitar company Fender, Leo Fender, said he has never played the guitar. Depending on the nature and characteristics of the business, we must think differently about our confidence in it. For example, it is our prejudice to believe that a famous chef won’t be ruined if he opens a restaurant. The more important priority in business is the ability to grasp the essence than having a career. - Joseph’s “just my thoughts”