Over the Christmas period I read Daniel Kahneman's book "Thinking, Fast and Slow" and I could relate much of what he said in this book to the unique challenges and opportunities faced by family business owners and leaders. Kahneman's central thesis revolves around the interplay of two cognitive systems: System 1: Operates automatically, quickly, and …
Continue reading Thinking Properly – A Family Business Perspective
I meet many business owners and leaders, who are so engulfed in their day-to-day operations that they just have no time for anything else, including listening. They are so taken up to keep their hamster wheel running, that the noise of that hamster wheel is not allowing them to listen to anything else. Which is …
Anyone that has been in my office knows that I have a framed photo stuck to the wall with the words "Mindset is Everything". I hang it there as I firmly believe that the best business leaders are those that have a growth mindset versus those with a fixed mindset, as clearly outlined by Dr. …
As I am writing this blog article, everything is seeming very bleak on the international front. Trump is about to take the most powerful seat in the world. The largest two economies in Europe have virtually no government, whilst the far right is gaining ground in both countries. In the meantime the war in Ukraine …
This week, we had an interesting lecture as part of the Award in Leading a Family Business course. As part of Module 2, the focus is how a family business can build a strategic mindset, use strategic planning to align family needs and commitment to the business needs and also build a solid strategic plan …
Continue reading The need for a Strategic Approach in Family Business
I rarely ever write 2 blog article back to back. However the feedback I got to yesterday's Blog Article about why employees quit their jobs, was overwhelming. Many sent private messages, emails or even called me. You can also listen to a podcast about yesterday's article by clicking HERE. So I decided to write a …
Continue reading Retaining your best employees – Gratitude, Feedback and Work as a Product
I was reading a recent Harvard research article, that was just published, on why employees are quitting their job. Obviously in a tight labour market this topic is of great interest. As we all know high employee turnover is expensive. Studies estimate that on average, the cost of losing an employee ranges from six to …
In recent years Malta has been getting some 20,000 foreign workers annually. It is now becoming evident that this is unsustainable. The Prime Minister last Sunday spoke about the upcoming new labour migration policy and was quoted as saying that "We are going to undertake a study that is calibrated to the needs of our …
This is a question that family business owners and leaders ask me all the time. When delving deeper the reality is normally that low performance is the result of a missing performance measurement, feedback and support framework. Let me try to explain. Providing an underperforming employee a chance to improve rather than firing them, seems …
Below please find an overview of the Budget 2025 just presented this evening. (A) Macroeconomic Overview Malta's real GDP growth is expected to be 4.9% for 2024 and 4.3% for 2025, with domestic demand remaining the main contributor to economic growth in 2025. Inflation is projected to be 2.5% in 2024 and to ease to …
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