Energy News – 24/02/2017
What’s been making headlines across the energy world this week? We round up the big stories from the las...Read More
Limited management and leadership skills are impacting productivity, which is holding back many smaller businesses in the UK, according to new research.
The UK economy may be growing faster than any advanced nation, but productivity is a problem: output per hour worked still 2% below its pre-crisis level according to the Office of National Statistics (ONS).
To better understand the SME sector, Warwick Business School research identified a number of reasons the UK SME sector is currently underperforming: poor management skills, especially entrepreneurial skills are the main reasons for hampering their growth.
“The evidence shows under-developed leadership and management skills and widespread failure to adopt management best practices are constraining the performance and growth of a large number of SMEs,” says Professor Hayton of Warwick Business School. “The results indicate skills matter, but not all skills matter equally, given limited resources, especially time, SME owner-managers may benefit most significantly from ensuring that their entrepreneurship skills and leadership skills are well polished.”
The study showed the importance of understanding the benefits of a formal approach to strategic planning, communication, and adaptation, in order to enhance the efficiency. This allows owner managers to develop the sustainability of their organisations.
“Best practice strategic management is also related to the implementation of best practices in human resource management (HRM),” Hayton adds, “which are in turn, positively and significantly associated with turnover and productivity.”
SwitchMyBusiness believes that assistance and insight are key to empowering managers to make better decisions. From thought leadership pieces on important future developments to practical advice on a number of important areas, we are here to help smaller businesses achieve their potential.
Energy is one area where immediate and straightforward improvements can be made. SwitchMyBusiness.com has already helped thousands of small businesses compare and switch business energy, saving them millions of pounds.
Simply complete the form on the top right of this page or call 0800 411 8830. Our expert team can answer any questions you might have.
"Jessica Purnell was great, she was helpful and everything was easy. I have saved £150 per month! many thanks Jess :-)"This review was posted by Melanie Baker on the 23rd of February 2017
Thank you Jess Purnell!
"Jess really helped us out with switching suppliers... she wasn't pushy at all and the service was great. Thanks again!"This review was posted by Becki on the 23rd of February 2017
Thanks for your help Mark Weeks and Switch My business
"I would like to thank Switch My Business and particularly Mark Weeks for the ease of switching and saving me money! I can highly recommend them. Thanks again Richard Blake"This review was posted by Richard Blake on the 22nd of February 2017
"Aaron sorted out a new electricity deal for my church, enabling us to make good savings. We have now received confirmation of our new 3 year plan.During our telephone conversations Aaron was always very polite and efficient. Dawn Marskell"This review was posted by Dawn Marskell on the 21st of February 2017
Great help switching
"First time I have ever done an energy supplier switch, it seemed a bit daunting but the way EDF has rocketed our industrial energy bill I had no option, Bea Luseni guided me through the process and took all the worry away, many thanks well done"This review was posted by Horatio on the 17th of February 2017