Many businesses perform at a fraction of their capacity across at least two of the four fundamental pillars – people, processes & data, marketing & sales and capital. At the same time, they suffer from a lack of co-ordination and synchronisation across the pillars that leads to poor communication.
In the past, the underlying issues have been accepted despite holding the business back. In essence, the business has got away with it. Going forward, in a more competitive, technology driven market the consequences of under-performing are likely to be more severe including the loss of key talent and customers.
There are many reasons for SMEs under-performing: