Essay on Designing A For Managing A Business

1439 Words Nov 19th, 2015 6 Pages
Putting eggs in multiple baskets is obviously not literal, but it paints a picture for managing a business during uncertainty and turbulence. In any situation where the future is an important focus in business, which should be always, just one prediction will not be enough most of the time. Actually, that one prediction that a manager will make about his business could very well be wrong. The future always unfolds differently. Therefore, exploring multiple predictions is a great idea. Placing “small bets on a variety of options . . . is the way any truly innovative process works” (Peppers), and innovation is an almost necessary part of managing a business. Placing large bets on one future outcome is exactly like gambling. How often does a big gambler walk away with a gain, and why invest such resources in a big risk when investing in multiple options is an available option? Sure, a gambler may win big one time or a few times, but eventually a catastrophic loss will catch up to him or her. Playing smart is the best option, and playing smart is highly recommended in business. In terms of economic policy, a recent survey of small businesses showed major economic problems. For the surveyed small business owners, most reported poor sales as the reason for economic problems. Even though “25 percent blamed ‘poor sales’, 37 percent blamed either regulations (19 percent) or taxes (18 percent) (Pethokoukis)”. This piece of information is important to note, since multiple factors…

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