SHEPHERDING MITIGATES THE RISK OF BUSINESS FAILURE
Tuesday, January 24th, 2012Good management is highly correlated with the sustained success of the business and includes the elements of planning, organising, staffing, leading and monitoring/controlling. The monitoring/controlling element of management facilitates the exercise of testing the outcome against the objective (forecast) and if the outcome is not consistent with the forecast then corrective action must be taken to bring future outcomes back on track with the forecasts.