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Business and Personal Matters

“A friendship founded on business is better than a business founded on friendship” – John D. Rockefeller (RepMan, 2010).

Joint business is a challenge for friendship. However, many people start business with their friends, as in the initial stages of doing business it is difficult to find a partner whom you implicitly trust. Most people are well compatible only at the beginning. If the business is successful, then sooner or later, there is a clash of interests, conflicts, all these kill friendship.

In friendship partners seek equal status. Effective communication in friendship is based on trust, mutual respect and willingness to compromise and resolve conflicts correctly. However, in business there always must be one leader who can take full responsibility for making decisions on the management of the organization and its resources. To become a leader and to effectively manage the organization you can not always behave in a friendly way. So, the statement “Never mix business with personal matters—it just leads to damaged relationships, poor business decisions, or both” is fair in most cases.

It is better not to hire friends, as too friendly atmosphere in the team reduces productivity. Employees begin to relax and spend time on personal needs. To combat this you may start to control Internet connections and create an atmosphere of healthy competition.

There are also people who consider the statement “Never mix business with personal matters—it just leads to damaged relationships, poor business decisions, or both” to be an unwise advice, as they are sure that any business should have strong foundation based on trust. Usually people do business with those whom they trust, with their friends. The thing that can damage relationships either as friends or spouses or lovers is the personalities and their habits, but not the fact that they are in business together. Mutual business can strengthen relationships because of a common goal of developing a successful enterprise. Some people believe that having a personal interest in business partners sometimes helps to make better business decisions.

I believe that it is advisable not to mix business and friendship. Though, even today many managers in the recruitment give their preference to friends and acquaintances, it is desirable in the first place to look at the personal qualities of a person, his professional knowledge, the desire for personal growth. A competent manager should conduct business and manage the organization so that the number of friends among the staff, clients and partners is increasing steadily, but not to the detriment of the organization. Friends among partners at the right time can greatly assist in the conduct of business, including financial help, giving interest-free loans for a long time.

 

Reference:

RepMan. (2010). “A friendship founded on business is better than a business founded on friendship.” Retrieved from http://www.repmanblog.com/repman/2010/09/a-friendship-founded-on-business-is-better-than-a-business-founded-on-friendship.html