| Before you invest in a company, check how the | | | | easy that a six-year old could do it, assuming you |
| executives hold meetings. They may prefer to hold | | | | could convince the child to stay inside for such a |
| bad meetings. Here's why and what they should do. | | | | pointless activity. |
| Pssst, want a stock tip that will make you rich? Okay, | | | | Better: An effective meeting is business activity where |
| here it is: phone a public corporation and ask to speak | | | | people work together. |
| with the CEO. | | | | 2) They avoid responsibility. |
| If a secretary tells you that the CEO expects to be | | | | Bad meetings never end with decisions, which means |
| busy in meetings for the next six hundred years, call | | | | that no one ends up being held responsible for doing |
| your broker and sell the stock short. Any company | | | | anything. Some people find this useful because |
| unable to manage an activity that should last an hour is | | | | responsibility implies accountability and accountability |
| on its way down the financial tubes. | | | | requires results. Thus, without responsibility there is no |
| Although it’s true that senior executives spend | | | | failure and everyone appears to perform well. This |
| much of their time in meetings, you can bet that a | | | | masks poor performance so that everyone continues |
| business is in trouble if their meetings are out of control. | | | | to receive raises and promotions, even when they |
| Surveys show companies waste an average of 20% | | | | accomplish nothing because (you guessed it) they |
| of their payroll on bad meetings. And that’s just | | | | spent all of their time sitting in meetings. |
| the beginning of the problem. Meetings keep people | | | | Better: Effective meetings produce decisions that |
| away from the tasks they were hired to perform -- | | | | someone is responsible for implementing. |
| tasks that make money for the company and keep | | | | 3) They provide excitement. |
| the business ahead of the competition. | | | | Bad meetings feature all of the elements of a good |
| Since bad meetings are so wasteful, you may wonder | | | | drama, such as conflict, tension, and pain. For example, |
| why anyone tolerates them. Unfortunately, many | | | | the participants deliver self-aggrandizing reports, |
| business leaders think that their meetings are just fine. | | | | denigrate their colleagues, and engage in politics. Some |
| They even believe that they’re experts at | | | | really terrible meetings play out like pathetic |
| holding effective meetings. | | | | battlegrounds with verbal gladiators battling for favors |
| For example, when I phone companies to ask if they | | | | while the boss watches. |
| would be interested in improving their meetings, I | | | | Better: Effective meetings occur in a safe environment |
| sometimes encounter an assistant who assures me | | | | of respect. |
| that the executives believe that they hold wonderful | | | | 4) They serve food. |
| meetings. Then the assistant snickers, coughs softly, | | | | Bad meetings become an enviable executive perk |
| and regains enough composure to state that they | | | | when they provide snacks, coffee, and (sometimes) |
| don’t need my services. At this point the | | | | meals. The attendees then use eating to offset the |
| assistant sounds like someone on a sinking ship who is | | | | boredom of having to hear meaningless discussions. It |
| throwing a life jacket into the water. | | | | also saves them the expense of having to buy food. |
| And that must make you wonder: why any intelligent | | | | Better: Meals should be a separate activity used to |
| person would hold a meeting that wastes | | | | build relationships and (sometimes) rest. |
| everyone’s time and produces nothing. | | | | 5) They entertain. |
| There are easy answers such as 1) they don’t | | | | Bad meetings resemble a party. People tell stories, |
| know that their meetings could be effective, 2) they | | | | trade jokes, and argue over trivia. Some meetings |
| don’t know what an effective meeting is like, or | | | | feature comedy performances by the office fool. |
| 3) they don’t know how to hold an effective | | | | Others feature humorous belittlements by the office |
| meeting. | | | | bully. And if neither of these occurs, the absolutely |
| But what about the rest of them? That is, what about | | | | unbelievable discussions amaze and entertain |
| all of the executives who know how to plan and | | | | everyone. |
| organize and run an effective business, but still hold | | | | Better: Effective meetings use process tools to make |
| bad meetings?Let’s dig deeper. These | | | | methodical progress toward results. |
| executives actually want to hold bad meetings | | | | All of this shows why the type of meetings held in a |
| because they prove to be useful. Here’s how. | | | | company should be of major concern when making |
| 1) They provide refuge. | | | | investment decisions. If the executives need to learn |
| Bad meetings provide a sophisticated form of | | | | how, that can be fixed by scheduling a workshop. |
| executive busyness. Some people find this useful | | | | Then you might consider investing in the company, |
| because it keeps them from having to work on difficult | | | | after they complete the workshop. If, however, the |
| tasks such as planning, coaching, learning, and | | | | executives hold bad meetings to avoid fundamental |
| communicating. Compared to these difficult tasks, | | | | leadership responsibilities, you should seek other |
| sitting in a conference room is easy. In fact, it is so | | | | investments. |