Management Failure Leads For Business Failure - 826 Words

Management failure leads to business failure. It is very difficult to succeed in this dynamic competitive world. Due to globalization, the competition has immensely increased. This has made the business perpetual existence and success questionable. Nowadays, business has to compete with larger number of competitors than they used to before. There are different reasons behind businesses failure. Few of the major issues that business might face hindering their perpetual existence and performance are as follows: †¢ Management failure †¢ Financial issues †¢ Intense competition †¢ Mismanagement inventory †¢ Loss of markets and decline on sales If management is inadequate to handle the business and gain competitive advantage, the catastrophe of losing investment, time and customer will not be far ahead. This paper discusses two businesses (Gurkha Development Bank (Nepal) Limited and BlackBerry) which failed due to lack of management. This paper also includes viable recommendation for overcoming the situation. The first company which was to manage their internal affairs and faced bankruptcy is Gurkha Development Bank (Nepal) Limited. The bank is overseen by some of the experts of banking industry of Nepal. The vision of the bank is to provide banking facility to general public valuing morality and ethnicity. This bank uses some of the advance banking techniques and tools which are available in Nepal for the benefit of its customers. The bank has already shut down seven of itsShow MoreRelatedThe Factors That Affect Business1644 Words   |  7 Pagesprovide new literature for the undertaking study. Scope of this study will as sist several business operators to recognize the factors that affect their business and allow them to be a part of the study and providing basic information. 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