Why Companies and Great Managers Fail? - Paper Example

Paper Type:  Essay
Pages:  2
Wordcount:  435 Words
Date:  2022-07-15

Introduction

Good and effective management exhort the business companies to progress from good to great or better advancement. Regrettably, most management ted to move their companies and abilities to the opposite direction leading to fallen companies or some remaining pale at the shadow of their previous glory, or worse enough they disappear altogether. It is important to unearth why potential companies under great managers go bad and fail? According to Bangniyel (2012), common incidences of a great manager and companies fail because the executive lack to notice the big changes in the market. Thus, when market shifts when the company has not prepared for the anticipated changes the company becomes uncompetitive irrelevant shadowing its previous glory or even threatened to total extinction. Corporative failure is instigated by great and previously capable managers' failure to respond aggressively to the market change.

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Additionally, McKinney, McMahon, and Walsh (2013), state that many managers fail to succeed in taking their companies to prosperity costing the businesses billions of dollars. Misappropriation of company funds by the executive is a huge blow to the company's advancement leading to immense losses. Millions of employees are frustrated by their bosses when the company monies are misused on expensive trip, luxurious lifestyle, and uncalled for allowances at the expense of the company funds. Managers who are money oriented fail to achieve the significant core of the company's business because they care so much of the things they get back in return more than giving the required sacrifices to see their company go to the next level through hard work and sacrifice. Company performance is compromised by increased turnover, high absenteeism or desertion of duty as well as shrinkage minimizing the company's progression rate.

Buble, Juras, and Matic (2014) agree with the argument that failing to plan is failing to succeed. Despite the continued change, disruption, and unrelenting conditions in the business market environment many managers fail to make appropriate planning for the organizational trends in progression and proper problem-solving strategies. Lacking a good strategic plan framework on the utilization of company resources and employee direction fails to fulfill the company's goals and objectives.

References

Bangniyel, Paul (2012). Causes of Business Failure by Incompetent Managers, Munich, GRIN Verlag, available at https://www.grin.com/document/207568

Buble, M. Juras, A. & Matic, I. (2014). The relationship between managers' leadership styles and Motivation Management, International Journal of Management, Vol. 19, 2014, 1, pp. 161-193

McKinney, Robert; McMahon, Michele & Walsh, Peter (2013). The danger in the Middle: Why Midlevel Managers Aren't Ready to Lead Harvard Business School Publishing Corporate Learning. available at: http://www.harvardbusiness.org/sites/default/ files/PDF/17807_CL_MiddleManagers_White_Paper_March2013.pdf

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Why Companies and Great Managers Fail? - Paper Example. (2022, Jul 15). Retrieved from https://proessays.net/essays/why-companies-and-great-managers-fail-paper-example

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