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A single director or manager rarely has the combination of skills that a management team might have. Each member of a management team can concentrate on their own area of expertise. In addition, the business benefits from having its overall direction and goals viewed from different perspectives.
The rapport within a team is very important and can add further value beyond the individual talents and skills of each employee. Teams whose members relate well to one another contribute significantly to the overall success of their businesses. A disjointed management team could well put off anyone involved with your business, e.g. employees, customers, clients or suppliers. This could ultimately lead to corporate failure.
A strong management team is particularly significant if you want the business as a whole to grow and develop. As a business grows a management team is also important in spreading leadership responsibility.
It is crucial if:
your business operates in more than one location
you are in more than one type of business/industry
your business has different cultures, for example after a merger or acquisition
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