One of my early business mentors once remarked to me that there’s no such thing as a bad business merely badly run businesses.
At first sight it would appear to be rather a glib statement but when you analyse the performance of many companies it becomes a self evident truth.
How many times do we encounter senior management who are completely out of touch with the day to day workings of their companies. As the list of companies heading towards administration / liquidation in the UK is rapidly accelerating it is a clear indictment of just how ineffectual many company directors are.
It is one of the great ironies of our times (as illustrated by the recent Banking crisis) that far from paying the price for poor performance many of the architects of failure have been richly compensated for their inadequacies.
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