Business Challenges


What is it and how do we ensure we don’t suffer from it?

Businesses can fail. Even seemingly the best businesses that are operating in a growing market, that have good products priced well, can fail. Why is that? Research shows us the most common reason, by far, is mismanagement. So to avoid mismanagement, we need to know what it is.

How we avoid Mismanagement

Mismanagement is inevitably the failure to do certain things, rather than doing the wrong thing (as long as we learn from doing the wrong thing and don’t repeat it!) The following factors constitute mismanagement:

  • Lack of Planning – the failure to create a clear strategic plan that has widespread buy-in 
  • Weak Leadership – leadership that lacks direction or vision, that fails to positively influence 
  • Poor Communication – between individuals and teams, from management and to management, resulting in a lack of clarity and misunderstanding 
  • Incompetence – lacking the skills required in any position within the business, often resulting in a lack of informed decisions 
  • Insufficient Resources – be it financial, human or technological, hindering productivity and efficiency 
  • Rapid Growth or Change, without the proper foundations and infrastructure to be adaptable 
  • Ignoring Market Trends and failing to adapt 
  • Unhealthy Company Culture – resulting in a toxic workplace where morale, motivation and engagement are negatively affected 

And the simple answer to how we avoid mismanagement – ensure your company prioritises all of the factors above, which will involve change and adaptability.

Contact us

If you’re ready to take your business to the next level, get in touch with us today at 021 431990. The Think Differently team is passionate about Business Success and is ready to work with you today. 

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