Common Stocks and Uncommon Profits – Point Nine

Does the company have depth to its management?

  • Company policy should promote delegation of authority.
  • Top brass should never personally interfere with and try to handle routine day-to-day operating matters; this impairs the development of capable individuals who might otherwise rise through the ranks.
  • A good company encourages feedback and suggestions from personnel even if it’s critical of current policies.  Today’s business world is so competitive that the need for improvement is ongoing.  If pride or indifference prevents top management from exploring new ideas, this can stifle growth and profits.
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