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Reasons Businesses Fail

The US Census Bureau pinpoints Ten Principal reasons that Businesses Fail:

  • Inadequate or no management system
  • Lack of purpose, vision and mission
  • Poor planning, procedures, reporting and review processes
  • Over-dependence on specific individuals
  • Poor segmentation of markets and clients
  • Goals not established or not well-communicated
  • Lack of competitive and market intelligence
  • Inadequate set-up and working capital
  • Absence of quality programs
  • CEOs having great technical or professional skills, but insufficient business and management skills

 


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