Why Fail In Business?
In all business societies, people make profit. Even in contracts, deals are broken down. That is both parties on the contract holding up their ends of the bargain.
Business move on smoothly and paces’ faster when employees holding up their ends of their bargain by working very hard and soberly to help the organisation or firm or institution or company achieve higher heights in society. Likewise employers on the other hand, paying salaries, bonuses or incentives to their subordinates when due time.
With this businesses moves on a quick and faster pace, with no close competition. Other companies with contra ideas to the above ideology would not get closer to them.
Such companies flourish from decades without declining. Let’s take Microsoft Cooperation for instance; with the help of proper and strict but seemingly flexible management unleashed by Bill Gates.
He’s recorded as the richest man in the whole wide world with over 70 billion USD in his safe. He also makes over 80 USD every second in his company.
We can all make our firms have higher heights when we all follow the following prompts steadily.
Why do businesses fail from succeeding?
Business mostly fail from some the reasons below;
Practicing autocracy
Superiors or employers should not operate under autocratic leadership style to improve the heights of their firms. A leaders who practices autocracy undermines the confidence of subordinates. Subordinates are compelled to be quiet and not speak of things bothered them in the company. They are not allowed to speak their minds in aspects concerning the business. They are supposed to listen and obey (no contribution to any subject)Negative attitudes towards work
A firm can decline when subordinates or superiors exhibits attitudes which are bad and can cause annihilation of the firm in terms of output, money and even existence of the firm at large. Some repulsive behaviours which can cause the inexistence of firm include; idling around during work, lateness to work, being at loggerheads with a partner or another worker of the firm, practicing grapevine type of communication in the firm and so on.
Spending extravagantly
Most superiors or people who owned companies, usually spend money on unnecessary things like perhaps automobiles, structures, outfits, outings…..just for pleasures. The insane thing is; most of the most and sometimes all of the money is taken from the company or firms coffers. Most superiors put on the motive that they will pay back money in time. Others too say “it is my company, so I will do whatever pleases me”.
Improper management
Some employers lack managerial skills. They fail to supervise on their subordinates effectively. They just leave them to do the job however they like it. Some too fail to enforce on rules or laws implemented into the company or firm.
Unappreciable manners shown to customers
If the saying “customers are always right” is violated by a company or firm’s agent to a customer, automatically the customer has already been lost to the company. With continue of existence behaviour, the company now loses all customers and when customers are lost, output decline.
Bad motive of leaders
Bad motive of leaders can lead to the annihilation of a company. That’s in many ways, but will list a few to give you all clue of what I’m talking about. -- Bribery and corruption. -- Sleeping with subordinates (employees). -- And also trying to sleep with the unemployed persons who seek employment at your firm. -- Using the company’s money to set up your own business. -- Making extra money from company’s sales by increasing the cost incurred on commodities secretly. -- Breaching of bureaucracy.
These are some reasons why firms fail from succeeding. Making the said points above their priority declines output, having the firm fail to its knees.
Now if one wants to rise up again from this mess, how can they go about that?
How to redeem your firm from failure
Redeeming a firm from failure may be challenging at the start or beginning but if one is determined to make ends meet again, the person is go to go.
Now where do we start from?
Changing your leadership style
If a firm can positively redeem from failure, then the firm is compelled by this article to change ways or style of leadership. Perhaps say, if a firm used to operate under a Laissez – faire or autocratic leadership style, it is then compelled to change their primitive styles to a democratic leadership. This type is actually the best because, subordinates usually speak their minds during meetings about the company. Well if you would take this characteristic only for instance, you will actually get more information in addition to your own which will help the company in the long run than to fail.