Don't take your eye off the proverbial ball | UHY Peacheys | Chartered Accountants | Newport

Don't take your eye off the proverbial ball | UHY Peacheys | Chartered Accountants | Newport: "There is an old adage in sport and in business: “fail to prepare, prepare to fail”. No self-respecting football team would turn up at the current European Championships without having properly prepared. The manager is not only responsible for picking the best players and formation; he also has to manage the expectations of the press and fans. This is comparable to the way in which a company’s managing director acts. He or she must select the best staff and strategy, whilst managing the expectations of shareholders and funders.

In small businesses, the managing director is more of a player-manager. This presents the problem of spending too much time playing and not enough time managing, in that they are so involved in the day-to-day operations of the business that they rarely perform any of the functions of effective management. This can have negative consequences when planning for the longer-term."

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