![]() Typically, the types of personalities, skillsets and mindsets found in the different sub-functions tend to differ. Focus is normally good, but a failure to look at the big picture and define too narrowly the purpose of the role can lead to ignoring dependencies and interdependencies.ĭiffering temperaments. How can silo behaviour exhibit itself within finance? In a typical (core) finance function, one may find the following sub-functions: How does this relate to Finance? As long as any organisation unit has different components the risk is there that these components work independent of each other. Hence, an environment where siloed behaviour is encouraged is likely to be one that breeds more suspicion and uncertainty than trust and confidence. In general, familiarity breeds increased levels of security. At the same time, our “lizard brain” still makes us feel faintly suspicious of “the other”. Social: As humans, we spend an inordinate amount of time at work. This requires more, not less collaboration and holistic thinking. This fuels the need for the solving of more complex problems and confronting more decisions to be made at higher levels of uncertainty. There are very, very few instances where any work these days is done without any interaction with others.Įnvironmental: The nature of modern organisation life is getting more and more complex due to the combined effect of globalisation, increased risk and technological advances. Philosophical: “No man is an island unto himself”. Why are silos thought of so negatively? I’ll highlight 3 reasons. It can, of course, apply broader to also divisions within an organisation or even regions / markets. Meaning Finance, HR, IT, R&D, Supply Chain, Marketing etc. In the organisation, this has tended to manifest itself in functional silos. The image of a silo is one that is sealed off from its surroundings. The word “silo” (originations relating to agriculture and an isolated structure for storing grains) has over the past few years been used to denote a negative aspect of organisational culture.
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