DCP228 and Business Electricity
What is DCP228? DCP228 is a regulation to be introduced by Ofgem in April 2018 which will change the way busin...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.
I dealt with Janis recently on renewing…
"I dealt with Janis recently on renewing our energy supplier. Quick, concise and very professional! Thank you"This review was posted by Paula Barnsley on the 23rd of March 2018
Spoke to Jess
"Spoke to Jess. She was very clear with the options and it was all very straight forward to switch, including providing template emails and contact details to contact my existing provider. Highly recommended"This review was posted by Phil on the 23rd of March 2018
Excellent service provided by Lorraine…
"Excellent service provided by Lorraine Carey. Not only was she efficient, cheerfully & pleasant but took all the hassle out switching service providers"This review was posted by Norwegian Log Buildings Ltd on the 22nd of March 2018
Arron Newton made the switch process very easy
"Arron Newton helped me with our business switch - he was extremely well informed about the energy market and helped me find the best deal. The process was very easy."This review was posted by sue nolan on the 22nd of March 2018
"Everything was explained clearly by the representative, Mark Weeks, and it made the renewal of our utility supplier painless. Prices quoted were competitive and we were able to secure a better price than expected. The process was quick and efficiently dealt with. Jim, owner of Four Seasons Greengrocers, Crediton, Devon"This review was posted by Jim Bond on the 21st of March 2018