Bad Management

There are several factors that lead to a success of any business. But many can dispute that the success of any entity , to a large extent, depends on how well the business is managed. Good management is achieved by making the right decisions and enhancing the business capability to exploit opportunities that may come calling. Also, good management entails forecasting and acting against potential threats to the welfare of a business entity. The management involves high level of planning , organizing, commanding, co-ordination and controlling functions . If the functions are carried out with due care and commitment in the management of the business entity, then they have a positive impact of growth and profitability. A manager has an obligation to give priority and allocate resources in an organization. He has the duty to point out what needs to be done and of similar importance, how to do it. Good management consist taking business forward, in presence of new challenges, and taking responsibility for stands made(The Times 100, 1995-2013).

Good management has the effect of creating competitive advantage on a business when compared to rivals. This is achieved through enhancement of customer responsiveness, improvement in efficiency, betterment of quality, giving space to innovation. For the firm to be well competitive, execution of functional strategies and value is important to meet the needs of the customers and thus improving the relationship with the customers. It is important , in achieving good management, for the managers to organize and control the structure and culture in order to achieve the aspired goals. These relate to working relationships(job simplification, enlargement and enrichment) and established system of task and reporting. The structure of the organization is influenced by the environment, human resources, technology and the strategies. The established culture of an organization also affects accomplishment of the goals and projects of...