Emotional Intelligence: The Next Step in a Business's Survival Strategy

Dear Reader,
Now having got your attention , let us pause for a moment to look at, "Emotional Intelligence The Next Step in a Business's Survival Strategy".

In an article by Thomas Bonney, the article goes on to look at even Charles Darwin's theory where in the corporate world, the process of natural selection is becoming very evident within the business community over the past two years.

Employers of today are operating within a challenging new business climate and must now determine what strain of "corporate DNA" will render their organizations fittest for long-term survival.

Read on to know more;
Regards,
Prasad.

Charles Darwin may have presented his theory of biological evolution more than 150 years ago in The Origin of Species, but it could be argued that the process of natural selection has become particularly evident within the business community over the past two years. Employers are operating within a challenging new business climate and must now determine what strain of "corporate DNA" will render their organizations fittest for long-term survival.

Some companies have developed a tougher exterior of core competencies, composed of functional adaptability and flexibility - both within the company and with suppliers, customers and service partners - to weather ongoing competitive threats from an increasingly harsher global external environment. However, a more critical contributor to an organization's enduring success actually lies internally, in the emotional intelligence of its people, starting with the leadership team.

Emotional intelligence is defined as the ability to intuitively manage emotions, both those experienced personally and by other individuals and groups. Historically, this term has been most visible within psychology circles and in HR departments at larger organizations. However, it is expected to gain broader corporate favor as more companies realize that typical organizational defense mechanisms no longer ensure survival.

Examples of these fading mechanisms include intellectual property, which is increasingly leapfrogged or stolen; long-term contracts, which are increasingly renegotiated; and access to distribution channel and end customers, which is increasingly disintermediated by the Internet. Alternatively, we project more organizations will recognize the powerful operational cohesiveness that can result from a companywide migration of emotional intelligence "messenger RNA."

Company leadership is the platform of an emotionally healthy organization. Leadership behavior and the tone it sets in the daily operation of a business may be the single largest contributing factor to success or failure.

Managing stress, recovering quickly from setbacks and dealing with adversity are all daily realities in the life of today's business leader. How well or poorly leaders understand and manage their emotions - and understand the impact of their emotions on others - will either motivate or potentially derail employees. In addition, a leadership team with a high degree of emotional self-awareness can be a powerful competitive advantage.

To build upon an organizational platform of emotional health, leaders must foster confidence and trust in employees in terms of their ability to succeed in today's highly competitive business environment.

A core strategy for creating a culture of trust is a consistent interpersonal communications methodology centered on building and maintaining social harmony among teams. In essence, employees must observe and learn how appropriately chosen words and actions hold the power to move organizations forward by harnessing the necessary emotion to achieve the desired goals.

One primary emotional intelligence skill set is the ability to apply word choice, voice tone and facial expression to optimize the clear meaning and productive outcome of a dialogue. For example, in a conflict management situation, a pivotal consideration would be the selection of "I think you should reconsider" vs. "You're wrong."

Another principal skill set is the ability to pick up on subtle verbal and nonverbal cues, including what is not said. Companies on the vanguard of leveraging emotional intelligence's value have the courage to invest heavily in related interpersonal communication training as well as initiatives to ingrain these communication tenets across internal functions and within business partner relationships.

Darwin's closing of The Origin of Species includes the following statement: "From the war of nature, from famine and death, the most exalted object which we are capable of conceiving, namely, the production of the higher animals, directly follows."

In a similar vein, emotional intelligence offers organizations a powerful operational platform for emerging from the economic turmoil in a stringer position to survive.

The key to achieving this higher-order foundation for longevity is business leaders' commitment to demonstrating and instilling emotional self-awareness and management as well as interpersonal sensitivity that fosters more productive internal and external communication.

[About the Author: Thomas Bonney is managing director at CMF Associates.]