We’ve all heard of nepotism, aka the act of favoring family members in the workplace. But what about cronyism? It’s the ‘insidious’ cousin that thrives within the organization itself. Cryonism is not about blood ties, but about the web of personal connections that trumps qualifications and merits. In this article, we will peel back the layers of cronyism, from its damaging effects to ways to prevent it, and some cronyism examples for better understanding.

Every business understands the importance of staying on track in any endeavor — may it be creating a new IT system or launching a new product. To ensure that such projects deliver the intended results, having a steering committee is a good solution. Usually comprised of key stakeholders and experts, this committee acts as a guiding hand in project management and risk mitigation.