Well the concern is much more when it comes to the latter ofcourse.Because , when the responsibilty to maintain and manage is bestowed on an individual; why he/she isnot able to answer for the same......he/she is paid for that.Many companies/private industry/organisations even in the government sector has ended in peril(e.g-Hindustan Machine Tool).
Bad Management is in itself the sole aiding factor to finish something.And,the something is each and every task we undertake.For a low level employee it is his each day labour to be executed in a proper manner,and for a mangement level employee it is to take the responsibilties and plan for the next day and task.So,if anyone related to this system will move back,failure of the company is more picturesque. It should be always maintained that,for a system to be running well,no cause should be inevitable.It is not our home and no boss is a father,uncle,aunt or mother or no employee is a son,nephew,niece or daughter....it is a business-the only relations should be that of boss,client,employee and colleague.... In this manner if the company have a hygienic hiring attitude, it will for sure have a strong employee pool in the company. By selecting quality people, and by providing solid training and opportunity, it will surely have success even at bad times. The staff will be the key to success, and not a drain of resources. In fact, an entire attitude change on everyone's part is in order. Instead of seeing the bad times, think in terms of the opportunities presented by competition.
Bad Management comes when emotional attachment crosses the walls of houses and reaches your work desk along with you,to make your cousin,brother,son,nephew and distant relations take a position neglecting the capable one.You already set a barrier in front of the systems progress .
It's the responsibility of the manager to ensure that the financial side of the operation is fit for purpose.Expected cash inflows and outflows should be monitored. Weekly or monthly rolling cash reports should be produced. Cash should be centralised or pooled across units.
You can't be certain of making sense of financial fundamentals without these simple checks; they both avoid traps and provide opportunities for profit.Managers have to ask themselves some difficult questions. How and why were bad management decisions taken? Why were defects and defective attitudes ignored in the past? What can be done to guarantee that correct management policies are pursued, regardless of the economic climate?
Habits and values must be altered so the whole company has the aim of eliminating waste and maximising all efficiencies at all times. Even excellent housekeeping won't provide a bright future unless crisis management involves every manager going beyond his or her daily duty.
During recession, most companies reduce their employment levels. Avoid conventional wisdom, and emerge from the recession as an innovative industry.Reduce salary rather than dumping staff and creating a cancer in the system. Being a unique driving force in the industry is so much more exulting and profitable than being a 'me too a follower'.