Reasons for Business Failures
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The objective of this review paper is to identify reasons less obvious that constitutes business failures. It looks at the causes, limitations and possible solutions to business malfunction. The views are strengthened by comments made by learned scholars on the issue of establishing, growing and maintaining a successful business. Despite having what seems to be ‘unlimited’ resources, businesses do fail; despite new inventions, businesses do fail; despite being innovative, businesses do fail; despite having a series of successful (profitable) years, branded quality products and a massive market share, businesses do fail. A recession will cause many businesses to fail. So why do businesses fail? Could the answer could be because businesses are like human beings – they are born, nurtured while they grow but after maturity all sorts of problems starts to show. Some businesses tend to adopt the notion that they know it all and start to experiment; others may become complacent and begin to ‘take their eye off the ball’. This flirting with danger can lead to great success or total failure. This article looks at the common reasons for business failures and encapsulates how to spot the tell-tale signs of collapse and what actions to take to avoid the varied pitfalls
Article History
How to Cite
Mckenzie, A. S. & Annor-adjei, N. Y.. (2012). Reasons for Business Failures. Journal of Business and Retail Management Research, Volume 03 Issue 2.
Citation Context
APA
Mckenzie, A. S. & Annor-adjei, N. Y.. (2012). Reasons for Business Failures. Journal of Business and Retail Management Research, Volume 03 Issue 2.
MLA
Mckenzie, Anthony S., and Nana Yaw Annor-adjei. "Reasons for Business Failures." Journal of Business and Retail Management Research, Volume 03 Issue 2, 2012.
Chicago
Anthony S. Mckenzie and Nana Yaw Annor-adjei. "Reasons for Business Failures." Journal of Business and Retail Management Research Volume 03 Issue 2 (24 Feb 2012).
Harvard
Mckenzie, A. S. & Annor-adjei, N. Y. (2012) Reasons for Business Failures. Journal of Business and Retail Management Research, Volume 03 Issue 2
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Useful Websites
www.cam.ac.uk 11th December 2007
www.pwc.com 23rd November 2007
www.pricewaterhouse/corporate cycle