J. Mark Munoz and Diana Heeb Bivona
The business world faces diverse challenges and opportunities at an ever-increasing pace. Some management teams readily find the appropriate business solutions, while others do not. In many cases, fresh perspectives both from internal and external sources are necessary.
Business failures have become a common reality in contemporary business. In 2014, about 963,739 business and nonbusiness filings were submitted to U.S. Bankruptcy Courts (U.S. Courts 2014). Gallup reported that the death rate of U.S. businesses surpassed the birth rate of new businesses for the first time in 2008 since these metrics were tracked, and that trend has continued (Clifton 2015).
Managers have the ability to ...