Common Mistakes of Bad Management

It’s generally accepted that most business failures result from inadequate management. So what do business owners and managers do wrong?

Around 65-90% of business failures are due to internal issues – often referred to as weak or bad management, according to Donald B Bibeault in his book Corporate Turnaround – How Managers Turn Losers Into Winners!

In my previous blog – Why Do Businesses Fail? I discussed management styles and structures which inhibit effective business management.

I’d now like to take that one step further by discussing the common mistakes that business owners and managers make.

The majority of mistakes occur because management either fails to take action or takes inappropriate action.

Here are some common examples:

Managing Through A Drawn-out Recovery

This interview with Michael Fingland is from www.businessessentials.com.au Because governments stepped in with massive stimulus packages, the recent downturn has not been typical. Normally, more businesses would have failed, with the stronger ones leading a rapid recovery. But, says Michael Fingland of Vantage Performance,because many have survived but still have debt on their books, the [...]

How Can A Turnaround Expert Help A Troubled Business?

The turnaround expert assists you to identify and implement appropriate strategies to stem losses and return your business to financial health.

The following are some potential strategies a troubled company, in conjunction with their turnaround practitioner, might put in place to turn things around:

The Easiest Way To Make $2 Billion For Australia

Five fingers and a raised hand could be all that’s required to add an extra $2 billion to the Australian economy each year.

That’s the money that would be saved if even only half of Australian businesses that find themselves in financial strife put their hands up for help earlier…

Why Do Businesses Fail? – Part 2

When businesses fail, most of the time you are better off looking inside the business for reasons or excuses. There’s a core group of internal and external factors that time and time again trip up businesses….

Is Your Business In Trouble? What Can You Do About It?

Not every troubled business can be saved, but it’s fair to say that the earlier experts are called in, the better. Procrastination about obtaining help usually means a solution will be forced on you.

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