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WHY DO BUSINESSES FAIL?

Statistically, 99% of all new business ventures fail in the first ten years. According to Bloomberg, 8 out of 10 entrepreneurial businesses fail within the first 18 months, clearly eliciting the need to adopt management practices that are internationally accepted tools for driving efficient and effective management of resources and relationships.

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NINE WAYS TO TELL THAT YOUR ORGANISATION MANAGEMENT SYSTEM IS WEAK AND INEFFECTIVE

  1. There will be NO implemented documented plan to benchmark, appraise and improve the effectiveness of the organizational processes, procedures and work outputs
  2. There will be NO corporate objectives cascaded into performance objectives across functional units and departments
  3. There will be weak frame works for assigning and delegating authority, and measuring performance goals
  4. Business and quality objectives will NOT be understood by work process owners and employees
  5. There will be NO framework for identifying, assessing, and managing risk activities and their impacts
  6. There will be a reactionary system to obtaining and documenting customer satisfaction
  7. There will be weak structures for regulating and auditing the release of human and material resources
  8. There will be minimal documentation of processes in the product/service realization pathway, and the corresponding controls and resources required for each process or work package
  9. There will be high rates of incidents, lost man-hours, and negligence related law suits

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Leitung Gate Limited

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