Why do Businesses Fail?

Only one-third businesses make it past their tenth anniversary.

This brings about the question- Why do businesses fail?

Would you say the organisation lacks:

• Documented plans to benchmark, appraise and improve the effectiveness of processes, procedures and work output

• Framework for measuring performance across the various functional units and departments

• Structures for regulating and auditing the release of human and material resources

*Workforce awareness and understanding of the business and quality objectives

*Framework for identifying, assessing, and managing risk activities and their outputs

• Framework for assigning roles and delegating authority

• Leadership and proper motivation of employees

What do you think?