Recovery strategy for a failing business

A significant number of businesses fail to meet the objectives set in the implementation phase despite measures taken to ensure that the goals set are achieved. The chances for success are often hindered by the existence of various factors such as agressive competition and lack of co-operation in the workplace.  However, the factors can be overcome and measures can be taken to position the business for success.  To achieve this, it is important to understand how a failing business can go about overcoming challenges in its market environment and become a profitable organization.

Most businesses fail because of their inability to overcome the challenges that exist in the environment they operate in.  The chance for success is further reduced by the lack of unity among employees and the presence of other businesses in the same market competing for resources and the target audience.  This paper will therefore focus on how a business can collect data regarding the environment it seeks to exploit, the challenges therein and the measures that can be taken to overcome these challenges and become profitable.

This paper will focus on the approaches that a business can take to be more competitive and promote unity among employees and the management to bring stability in the workplace.  For it to be succesful, the business must first collect data on the challenges in the environment and come up with strategies to overcome them.  Since employees are the direct link between the business and its customers, creating unity will assist in achieving the objectives set by the company. This will in turn improve the quality of service, giving the business the competitive edge needed to increase sales and become profitable.