Tuesday, September 17, 2019
A Study of Corporate Failures
It is said that a company will only last if it practice good governance to its employees and customers providing them all of their needs and satisfying their expectations in terms of product quality and good management. This brings out a good working relationship between the management and employees that builds trust and loyalty among them which in the end will result in a favorable output contributing to the good name of the company. The reputation of a certain company has been always important for their marketing and growth.Thus in order to have a good impression to the customer and employees, the companyÃ¢â¬â¢s management tend to bring out the best that they can bring to give a good impression to their customers and people. Since good governance gives a harmonious working relationship between the management, employees and customers, people may seem to like the company more and as the days goes by, they might learn to ask more than the company can provide. The company may become bigger, but expectations will always be present from suppliers, customers and employees.Because of a higher demand for quality management, the top management of a company may do some changes to their usual managing practice to cope up to the demand that their company is facing like higher product outputs, client concerns, supply procurement and more. Change is always permanent. For companies, certain decisions must be done to acquire a certain expected result for the benefit of all but there are also some decisions that were made by the company which they think is the best strategy for a certain issue but only resulted to conflicts and problem.This paperÃ¢â¬â¢s aim is to give an insight of what a bad corporate management or governance is and its effect to a company, its employees, and their customers and to other business as well. We examine the different reasons why a company fail and the different things that a management can do to avoid it. Included also in the paper are some e xperiences of different companies that had gotten through bad management strategies and how they cope up from it. Introduction Change Management is one tool to measure the performance of the overall productivity of a company.If a kind of management strategy being implemented is not good to handle a companyÃ¢â¬â¢s requirement, it is very obvious that it will cause problems in the end. As stated a while ago, competition is very tight in the market and demands are very high. This however, takes the management in a decision to take one step forward for improvements. Changing a workflow, product standards or even the salaries of employees are very crucial. If not monitored well, this may result to conflict and quality issues. Decision making has been a big task for managers to make new guidelines that will be followed in order to achieve a certain goal.Yearly, numerous meetings and agreements are being made by both top management and employees that change the usual work flow of the com pany that sometimes gives discomfort to other workers because of they are used of the usual work that they do. Aside from decision making, changes in the market demands, economy, quality expectations, information technology, business structure and manpower can give great pressure to the business. As change is permanent, the risk of managing a business gets sensitive as time goes by resulting complicated scenarios and threat of failure.Management Management is controlling a group of people to achieve a certain goal. In business, the top management is concerned in doing the most important decisions that are to be followed by all employees of the company including its policies and strategies. Because of the different issues that the business encounters, strategic decisions are made to solve the different problems that the company has. Hoping that those decisions would give a positive result in the end, the management is also responsible for any negative result that their decisions may give.Decision making is never easy. It takes a lot of patience, teamwork and courage to come up with a set of strategies that the company will use. Certain decisions are made for one department only and some are for the whole company. Either way, they still give a big effect to the overall performance of the organization. Since that decision making is very crucial, there are still some companies that made their way in doing and implementing the best decision strategies that helped their company to be the best that it can.On the other hand, not all companies shares the benefits of a good decision implementation as there are some companies that also shares the effect of a bad decision implementation made by their top management. Approach Governance Governing is a process of implementing decisions, rules and regulations in a group of people. Its concept has been widely used by companies to make their workers comply a set of agreed actions that were done and ordered by the management. T he managementÃ¢â¬â¢s ways of doing rules and policies has a big effect in a companyÃ¢â¬â¢s performance as a whole.As decision making is vital to a company, the management should be equipped with the knowledge of how they are going to make their decisions every day. Study of Good and Bad Governance Good Governance Good governance will surely give benefits to the company, employees, customers and suppliers. Its implemented decisions had considered the characteristics of Participation, Rule of Law, Transparency, Responsiveness, Consensus Orientation, Equity and Inclusiveness, Effectiveness and Efficiency and Accountability that if complied well, it will bring good feedbacks and result to the company.Bad Governance Mismanagement has always been a problem in all companies which is a start of bad governance. Bad governance emerges when conflict rises among people who are involved in the company. It includes conflict of interest, political issues among members of the company, social pr oblems, discrimination, lack of participation and more. When employees or the people concerned to the company starts to ask questions about the decision of the companyÃ¢â¬â¢s management, then there is an unclear part in that certain decisions being implemented that employees do not understand or agreed.