June 2023 2nd: Management failures must be corrected by management

June 2023 2nd: Management failures must be corrected by management

The biggest risk for companies is that management does not admit failure.
When a company's management deteriorates and, in the worst case, causes bankruptcy, the cause is often the manager. When the manager fails in management, and the manager himself does not admit the failure, the failed state continues. By continuing with a failed state and slurping, management will continue to deteriorate, and eventually it will lead to bankruptcy.
Even if it fails, management can minimize the negative impact of failure by quickly acknowledging the failure and quickly correcting, starting over, or backtracking. You may be able to use the experience of failure to lead to your next success.
However, if the management does not admit failure, the failed state will continue as it is. The ramifications of failure are magnified. And the more time passes, the harder it is to fix, redo, or turn back. Going in the wrong direction is the road to ruin.
It is important for management to admit failure quickly so as not to lead the company to the road of ruin. Management failures can only be corrected by management. A manager who can quickly admit failure is a really good manager.

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