Mistakes Managers Commonly Make in an Uncertain Economy

Companies trying to survive in times of flux tend to make similar mistakes, regardless of the type of business or industry.

These mistakes fall into four broad categories:

Morale/retention,

Productivity,

Innovation/risk taking and

Business development.

Here’s how to avoid some of the most common management pitfalls as you navigate the economy’s rocky road.

Morale/Retention
1.Staff reduction by a dozen cuts.

2.Closing off communication channels.

3.Eliminating incentives.

Productivity
1.Reducing professional development and training.

2.Making their jobs harder.

3.Postponing recruitment.

Innovation/Risk Taking
1.Stifling critical thinking.

2.Waiting for a turnaround.

Business Development
1.Sacrificing quality.

2.Losing sight of the customer.

3.Cutting the wrong things.