Managing business is not an easy task. There are many challenges in managing our business, however, knowing the problem is more than half the solution. In this article, we will highlight major pain areas that should be tackled by top management and business owners to be more effective.
Challenges of business:
First Challenge is the management time utilization which mostly goes to operation while neglecting the managerial role of being strategic. As business consultants we understand the challenge, and we offer our strategic tool to go hand in hand with manager daily task without missing the overall picture of the business.
Second Challenge is the alignment of management goals and Objectives with the organization’ team. Management is creating these plans and none of the employees know about it. Further, when they know it, It is neither measured nor distributed on the employees’ performance. In this environment, it is normal to see islands and silos working alone and not cooperating. Employees don’t know what management exactly need, and mostly they try to retain their position in the organization rather than excel and innovate.
Third challenge is the team accountability.
While working on the alignment of management objectives with employees’ performance, majority of the companies create some dashboards that does not link to any employee. As a result, we have dashboards and KPIs that does not have an owner. Finally, we lose accountability of objectives in the company. If the score is good, everyone wants to link to it, and if it is bad, everyone wants to deny any connection to it.