In a declining small business, the owner and key managers should resign to improve the chances that the business can turnaround successfully.New owners and managers will likely have better ideas to improve performance.

Question

Quizplus · Accepted Answer

While new owners and managers can bring fresh ideas, the existing owner and key managers often have invaluable experience and understanding of the business that can be crucial for a successful turnaround. Their commitment and insight into the company's history and operations can be pivotal in identifying and implementing effective recovery strategies.

In a Declining Small Business, the Owner and Key Managers