Globally, millions of new business (SMEs mostly) start every year. Even in India alone about a million new businesses get added every year. Anecdotal understanding is that almost 90% of these never reach a stage beyond survival; 10% of these reach the next stage of struggle. While not much can be said about the unorganized sector; for startup it is reported that 1 out of 9 start-up survive beyond a year. while facing severe  competition and investment issues. Eventually about only 5% survive and less then 1% make it to be successfully large.

A survey of failed startups identified “lack of a market need for their product”, as the single biggest reason for their failure, followed by “lack of technical innovation” , “disharmony in the team”, “lack of optimum business model” and “inadequacy of cashflow management” for the most part.

As for the successful startups there are plenty of characteristics that differentiate them, at minimum they seem to have surmounted the challenges of key failure causes (as identified in the preceeeding paragraph). One of the most significant causes of success has been identified as attention to business processes and business issues. In other words, companies with the strong management process maturity are able to manage faster growth in business and demonstrate longevity. Basically, management practices the key for any business growth.

We have compared the data of various countries in terms of management process maturity. A survey by HBR for a mixed prfolio of countries including Germany, Japan, US, Brazil, China, India, Colombia, Nigeria and Vietnam.

Countries like Germany, Japan and US have an average score of 3.0-4.0 in the management process maturity and some of the organization/firms have a score of 4.5 to 5.0 in the management process.

Countries like Brazil, China and India have an average score of 2.5-3.5 in the management processmaturity  and some of the organization/firms have a score of 3.5-4.5 in the management process.

Countries like Colombia, Nigeria and Vietnam have an average score of 2.0-3.0 in the management process and some of the organization/firms have a score of 3.0-3.5 in the management process.

These all comparisons show us that the countries where businesses are proportionately larger and have comparatively higher successes have superior bussines process maturity and management effectiveness.

To conclude, business process maturity is a key critical enabler for business success and for sustainable growth.

Right Product and Right Management makes a difference