In this management lesson, we talk about sharing essential or vital information with important stakeholders, especially your boss or manager, in a clear and timely manner. Here’s a short story which emphasizes the importance of sharing critical information, especially when this information is essential for making informed decisions, solving problems, or addressing significant issues.. The story is followed by our perspective on the situation.
A man is getting into the shower just as his wife is finishing up her shower, when the doorbell rings. The wife quickly wraps herself in a towel and runs downstairs. When she opens the door, there stands Bob, the next-door neighbor.
Before she says a word, Bob says, “I’ll give you $800 to drop that towel, ”
After thinking for a moment, the woman drops her towel and stands naked in front of Bob After a few seconds, Bob hands her $800 and leaves.
The woman wraps back up in the towel and goes back upstairs. When she gets to the bathroom, her husband asks, “Who was that?”
“It was Bob the next door neighbor,” she replies. “Great,” the husband says, “did he say anything about the $800 he owes me?”
Moral of the story: If you share critical information pertaining to credit and risk with your shareholders in time, you may be in a position to prevent avoidable exposure.
Our management lessons highlight different perspectives on workplace dynamics. Sharing critical information is a fundamental aspect of effective communication and decision-making. Providing critical information to important stakeholders in a timely, clear, and relevant manner can help them make informed choices and can avert a lot of problems.