We have all heard it that, the ABC company is voted the #1 best place to work in the world. Leading some to wonder why do some companies win and thrive while others fold and go out of business irrespective of their decades in operation?
Incidentally, I once worked for such an organization that folded after more than 50 years in business with over 4 established offices in 3 continents. At the time, I didn’t quite get it being that the downside that later lead to an LBO, leverage buyout and then bankruptcy didn’t make sense to me, but in hindsight it is clear that more than market conditions, the company culture was either weak or non existence to sustain the unexpected changes and disruptions.
According to… % go out of business due to toxic culture or poor leadership and management. @@@@@@
Evidently, there are a myriad of reasons why a company goes out of business, but according to research by… many companies go out of business because of poor leadership and management or toxic culture.
When it comes to building a wining and thriving culture for your business, what should you consider and why is it critical for your success?
