8 Undeniable Signs That Your Business Needs New Management
Do You Recognize Any of The Following Signs?
1. Poor Productivity and Planning Procedures. - A stagnant rate of client solicitation or poor progress in existing projects is a sure indicator that your management is not ambitiously and actively driving expansion and improvement.
2. Ineffective Employee Management and Low Morale. - To produce optimal results, employees need continual guidance and supervision. When managers do not monitor and refine employee practices, the company will almost certainly never reach its full potential.
3. Faulty Accounting and Reporting. - Are your managers ensuring that the company’s affairs are properly recorded? If budgeting and accounting practices are being neglected or tax requirements are not being fulfilled, then it is imperative that you address the situation immediately. Irresponsible accounting and budgeting can lead to unnecessary tax penalties and unexpected financial shortcomings.
4. Misuse of Funds and/or Assets. - Your management team should not be using the funds of the business inappropriately, whether for personal gain or for unauthorized company expenses. Misuse of company vehicles, credit cards, or equipment are all grounds for dismissal.
5. Complaints or Lawsuits from Clients/Customers. - If paying customers aren’t happy with your management, then you should be even more upset than them about the situation. Your customers and clients are the driving force behind the success of your business, so taking heed to their concerns is paramount.
6. Lack of Progressive Investing and Outreach. - Perhaps one of the most important yet commonly overlooked aspects of managing a business is ensuring a decent rate of expansion. If your company is becoming stagnant because managers are not being proactive in their marketing efforts, it may be time to bring in a professional that has an outreach-oriented approach.
Read the full article at: http://experts.allbusiness.com/guest_posts/8-undeniable-signs-business-needs-new-management/#.VBcGDvl5Ngk
Patty Block, President and Founder of The Block Group, established her company to advocate for women-owned businesses, helping them position their companies for strategic growth. Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business. The Block Group brings together the people, resources and ideas that build results.
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