We see rapid changes taking place globally and technology disruptions forcing companies to tweak and make relevant changes to their business to adapt to these external realities. Though this article aims at help all sizes of companies, research indicates that 96% of small businesses fail in the first 10 years.
I have come across businesses who are doing well on paper, but face serious cash flow problems. The reason is, directors and executives don’t take enough time to evaluate the critical triggers which drain company value.
Before we go into the question, I often get asked as to why I refer to both directors and executives. After all, the duties of directors are different and segregated from what management does. Directors must not entangle themselves into micromanaging and not all executives are on the board.
The following are some of the reasons why directors and executives need to work together in certain circumstances:
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