The McKinsey Quarterly, a publication produced by the well known management consulting firm, has a short article and chart (subscription required) on effective management practices. Key quote:
"What makes companies perform well? To find this holy grail of management studies, a McKinsey team analyzed upward of 100,000 questionnaires to uncover the practices of 400 business units in 230 companies around the world. The team eventually arrived at one winning combination: clear roles for employees (accountability), a compelling vision of change (direction), and an environment that encourages openness, trust, and challenge (culture). Nothing else came close in improving organizational performance."
Not surprising results, and even though the McKinsey research focused on large corporations the same factors - accountability, direction and culture - are also most likely the winning combination for small businesses.
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