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Bad managers cost businesses billions of dollars each year, and having too many of them can bring down a company.The only defense against this problem is a good offense, because when companies get these decisions wrong, nothing fixes it.Yet our analytics suggest they usually get it wrong.

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Also important was how managers engaged with employees over identifying the causes of problems, then how they implemented continuous improvement programs, and set key performance indicators to track performance.

Other factors were the senior management’s commitment to attracting and developing talent, retaining it and helping employees value the opportunity to work for the firm.