Defining the people in your 'Economic Whole'

Make sure you are clear about which economic whole you are defining.  You will quickly find that you are involved in a great many economic wholes, therefore it is important that every time you make a decision that you have total clarity about which economic whole the decision is being made for.  Confusion here creates confusion elsewhere! 

Example: As you go through the exercise below you will discover that this economic whole is for Greenslopes Pastoral Co.  Even though the family are intimately involved in its ownership and management, the example is not for them.  The family are a different economic whole.




Every economic whole has its own set of ‘decision-makers’.  If you are describing an individual, there is only one decision-maker.  In this case though, the decision-makers are the current majority share holders in the operating business, Garth and Shirley, and their two children, who each have a minority interest in the business.



Look out for the undeclared decision-maker, the person with veto power.  Occasionally you may find you're in a situation where, even though you may not be aware of it, someone has the power of veto.  So you need to be alert, because it is crucial that you know.  Please study this video before completing the ‘People’ part of your economic whole. 
A tell-tale indicator is: who has the cheque book?  If an older generation have notionally stepped aside in favour of the young, telling them they now make the decisions, dig a little deeper.  If the older generation still have access to the cheque book it is highly likely they will be able to exercise some form of veto.  I have seen situations where 50 year old sons (and daughters - in one case more than 60 years old) could still be vetoed by fathers well into their 80's.  The important point is to recognise what really is 'reality' so that you can deal with it appropriately. 


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