It's about the management, stupid

To paraphrase the famous US election slogan "It's about the economy, stupid.", research (1,2) has yet again shown that the most important factor in business performance is the quality of management.

Not how much the company spends on technology.

Not how much digital marketing they do.

Not even how much is spent on R&D.

Just how well the business is managed.

Really simple, doable stuff.  A clear purpose.  A usable orgchart.  Useful job descriptions.  Repeatable written processes.  Measurement and regular review.

None of these are difficult to do, although implementation does take time, determinationa and resilience on the part of the owner and there are some basic techniques to learn.

If you would like to learn how to apply better management techniques to your business then take a look at this website.

1) What Drives Differences in Management Practices? Nicholas A. BloomErik BrynjolfssonLucia FosterRon JarminMegha PatnaikItay Saporta-EkstenJohn Van Reenen, American Economic Review May2019 Vol. 109 Issue 5 Pages 1648-1683

2) Management, Skills and Productivity, Emile Cammeraat, Lea Samek and Mariagrazia Squicciarini, OECD SCIENCE, TECHNOLOGY AND INDUSTRY POLICY PAPERS February 2021 No. 101

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