Monday, August 18, 2014

Market Basket - More Ego than EQ?

I have been watching with great interest the New England story of the battle going on at Market Basket. In short, it's coming down to rivalry between two cousins in a fight for power. As a result, the company has lost millions in revenue, employees have lost jobs and consumers have had to redirect their shopping to other options. I am not sure if they can even recover as a business at this point. My question is, how is the Board of Directors allowing this nonsense to continue? This is the risk of business owners filling their Boards with friends and family, which must clearly be the case here. Ego Trap 3 is Surrounding Yourself with More of You. Dangerous. And could cost you your company some day.

http://www.bizjournals.com/boston/blog/bottom_line/2014/08/market-basket-is-laying-off-thousands-of-part-time.html?ana=e_bost_bn_breakingnews&u=vT+D7Z2pZISglsU/BhRvadu0Cuh&t=1408325215

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