How Getting Rid of ALL Managers Made These Companies Record Profits - How Money Works | How Money Works

How Getting Rid of ALL Managers Made These Companies Record Profits - How Money Works Click the link https://vessi.com/HMW and use my code HMW for $25 off each pair of adult Vessi shoes! Free shipping to CA, US, AUS, NZ, JP, TW, KR, SGP Sign up for my newsletter https://compoundeddaily.com 👈 If a company is set up properly people really can just come into work, do their job and go home without layers of authority on top of them micromanaging their every move, getting in the way of actual business operations, and taking home the biggest salaries in the office. Bad management can ruin even the best ideas, and end up costing their companies lots of money in the process, about three trillion dollars a year according to recent studies, which is why some companies are starting to rethink if the hierarchical business structure is a thing of the past. In a typical business management is responsible for choosing the direction of the company, training their subordinates and providing them with the tools they need to move the company in that direction, rewarding employees that excel in their work and punishing employees that don’t meet their standards. These five tasks encompass everything that a manager is responsible for, and they ARE all very important roles in running a successful business so it’s not like the role of a manager is redundant by default, BUT some companies are starting to realize that these five tasks can be without a manager at all, often with better results. #howmoneyworks #management #business Edited By: Andrew Gonzales Music Courtesy of: Epidemic Sound Select Footage Courtesy of: Getty Images For sponsorship inquiries, please contact sponsors@worksmedia.group Follow to learn How Money Works. Find How Money Works on YouTube: https://www.youtube.com/@HowMoneyWorks Disclaimer: This podcast is an independently produced audio adaptation of content originally created by How Money Works. It was developed by a fan who values the channel’s clear and engaging approach to financial education, with the goal of making that knowledge more accessible in a hands-free, audio format. This is not an official production of How Money Works, and it is not affiliated with or endorsed by the channel. All rights to the original video content remain with How Money Works. For any concerns, inquiries, or content-related requests, please feel free to reach out. - ----------------- ----------- Keywords: financial independence, economic education, stock market, recession analysis, wealth building, financial literacy, inflation explained, debt crisis Learn more about your ad choices. Visit megaphone.fm/adchoices