How poor management bankrupts a business.

[Mikes smithen]

Establishing a successful and prosperous business today can only be achieved if such individual make sure to base the establishment of such business on the right concept not wrong concepts. Management is absolutely one of the most important Factor necessary for successful business establishment and administration and it is advised that a business owner must make sure to possess good managerial skills which can help him or her manage his or her business so that it can last the best of time and also have the ability to reach greater and higher heights.

Poor management comes as a result of a business owner not possessing these managerial skills. Poor management will also include the inability of a business owner not able to have good communication skills or knowing how to manage individuals in the business organization. Poor management will also mean that there is no credible customer services in the business organization and of course customers will not be attracted to the business goods and services which of course would lead to no making of revenue and profit.

 

[Axis]

Poor management can bankrupt or make a business to collapse in so many ways because of the effect that it brings to the business. As a result of poor management in a particular business venture the business books of account will not be kept and maintained up-to-date. It could also mean that each figures recorded in the business books of accounts are recorded falsely and so because of this determining the financial position of the business is impossible or cannot be ascertained. Poor management can also lead to hiring wrong employees who are not devoted to handle business goals and objectives and of course there are insincerity and dishonesty can add to the bankruptcy of the business in less than no time.

 

[Etini]

Management at all levels has to be top notch for every business organisation to thrive. A business has to get it right in terms of man management, financial management, inventory management, operational management, brand management for it to do well and grow.

Where management at any level of the business, the business would suffer and likely stagnate. That's why you need managers that are sound to help you manage your business effectively. Quit that illusion that you can manage it all by yourself. Get line managers to ensure that no part is lagging in terms of proper management of business.