Equal participation in a credit

The ability to participate equally often depends on being included in the loop. Equal access to information is necessary to ensure a level playing field between partners. If certain members of the partnership have exclusive access to information, it’s incumbent on them to share it. They should make a point of including the other partners by forwarding copies, making memos, or instituting regular reporting regimens. Sharing information starts the process of building trust. If one partner hoards information, it sends a message of control, manipulation, and secrecy. It erodes confidence and destroys trust in the partnership. Another reason for sharing as much information as possible is that the “owner” of the data may get a new understanding of the information by having others look at it. If partners truly share mutual interests, what reason could there be to withhold relevant information from a partner?

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Sunday, February 14th, 2010 Bearish Patterns, Budgeting, banks, business, cash