Read article \"Practices of Successful Managers\" (https://www.businessknowhow.c

Question

Read article "Practices of Successful Managers" (https://www.businessknowhow.com/manage/successful-manager.htm) and Bloomberg's article entitled, "Entrepreneurs Turn Business Failure into success" (https://www.bloomberg.com/news/articles/2008-10-16/entrepreneurs-turn-business-failure-into-success)

Do you agree with the decisions made by Eva Sun? What would you have done differently in that situation? As an Entrepreneur, what management practices would you apply in the attempt to avoid the failure of your business?

Explanation / Answer

Do you agree with the decisions made by Eva Sun?

Yes I agree with the decision made by Eva Sun, at the time she took over again her company it was too late and she had to filed for bankruptcy and even more important she was able to explain to explain to her business partners what happened and made the company successful again after a few years.

What would you have done differently in that situation?

If I were Eva I wouldn’t have left the company on the hands of her husband knowing he didn’t have any experience at all managing the company, he had experiences on sales that was his strength. I would have taken a few days off but always looking over the performance of the organization

As an Entrepreneur, what management practices would you apply in the attempt to avoid the failure of your business?

As an entrepreneur I would lead by example, I would delegate whenever possible to empower my team members but wouldn’t leave everything on their hands (like Eva Sun). I would try to work with the best ones and leave them do what they do best, in other words if you hire a data scientist that has 10 + years of experience because you want him to enhance the performance of your data model you are not going to be constantly trying to change his work, he is the expert not you.

I would also celebrate the milestones of a project with the team giving them credit.

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