Category : GENERAL BUSINESS MANAGEMENT

Forecasting is a critical part of any business strategy, and the CEO plays a pivotal role in this process. The CEO is responsible for forecasting the company’s future performance, identifying potential risks and opportunities, and developing strategies to capitalize on these trends. In this article, we will discuss the CEO’s responsibility for forecasting business. One […]

Michael Tait offers a few tips on how to perform well in a business review: Business reviews can be a challenging and stressful time for any organisation. Whether it’s a regular performance review, a financial review, or a more formal assessment. The pressure to demonstrate success and progress can be overwhelming. However, with the right […]

Whether you are working in a corporate company or in a private equity backed business, there are the inevitable monthly or quarterly business reviews to get through. This is where you have to account for your worth in an organisation and you have to do it in front of onlookers. By nature you are a […]

The management bully still seems to have a presence in some companies and boardrooms despite the modern day obsessions about leadership. Michael Tait shares what he has seen: There are countless courses and training programmes to train people on how to be leaders and there should be every reason to expect exceptional leadership among our […]

Appalling customer service is more prevalent than ever. Before the pandemic, companies would use customer service as a way to gain competitive advantage but sadly we are now so frequently confronted by widespread awful service. The corporate companies we were once so proud of, seem now to be hiding behind Covid to mask a ‘couldn’t […]

Promoting fitness in the workplace is important for the overall well-being of employees and can have numerous benefits, including increased productivity, improved morale, and reduced healthcare costs. Michael Tait suggests some strategies to promote fitness in the workplace: Provide Access to Exercise Facilities Consider providing on-site fitness facilities or subsidising gym memberships for employees. This […]

So many of the companies I’ve taken on don’t have an ongoing business plan. They may have had one once, possibly when they took on external investors or other refinancing, but have since drifted away from having a proper plan that sets out exactly how the business will be taken forward. It amazes me that external investors such as private equity firms allow this situation. What I can tell you is that every single troubled company I have taken on has been without a current business plan.

The numerous company turnarounds I’ve led have had a number of problems in common but the one that seems always present is management consistently missing their own forecasts.

Forecasting is no easy subject but its management’s responsibility to do it and mostly get it right. If you frequently or consistently miss your own forecasts it sends loud signals to your investors that you’re not on top of things. There is nothing more politically dangerous than nervous investors that have lost confidence.

Mike’s presentation shows how a coaching and mentoring style works well in company turnaround situations.

Chief Executives won’t normally seek mentoring help until they are under heavy pressure and feeling vulnerable, at which time it could be too late.