What do shortcomings (in business) mean? And an example please.

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A shortcoming is some kind of imperfection or lack that takes away from the strength of a whole person, plan, system, and so on. In some regards, a shortcoming is a subjective analysis. Saying that someone is disorganized is a relative statement because it begs the question "disorganized compared to...

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A shortcoming is some kind of imperfection or lack that takes away from the strength of a whole person, plan, system, and so on. In some regards, a shortcoming is a subjective analysis. Saying that someone is disorganized is a relative statement because it begs the question "disorganized compared to what?" Despite that relativity, the connotation is still negative. Saying that someone or someone's business is disorganized would be considered a shortcoming.

The disorganization, as a business shortcoming, could cover a broad range of things. The business might be disorganized regarding the bookkeeping and taxes. The business could have a general disorganization of scheduling the proper number of employees to be working at specific times of demand. A manager might be disorganized, and the result is that specific, necessary tasks are not completed in the correct, prioritized order. This will result in some capital losses because the business is not operating at peak efficiency.

Finally, the disorganization might contribute to a business's inability to plan for the future and grow. Rather than anticipating future needs and growth, the business is stagnated because it is always reacting to current issues and opportunities rather than planning ahead for those things.

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Shortcomings happen when a business fails to achieve goals and meet expectations due to internal or external factors. For example, a business may want to expand to new territories during the current financial year. However, the public is against such a move because they believe that expansion ventures destroy the environment. The public outcry forces the local authorities to create laws that limit business expansion into certain areas. In this case, the business fails to meet its expansion objective. The shortcoming is caused by external factors (public opinion and government legislation), which are beyond their control.

Another example of a business shortcoming is when a department fails to meet its sales objectives. Here, the shortcoming could have been caused by internal factors such as poor management and lack of communication.

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The dictionary defines a shortcoming as an imperfection or flaw. In business terms, a shortcoming would be a plan that has not quite come to fruition. The plan may have been a good one to start with, but it has not been executed effectively.

For example, if a global marketing department created an area-specific campaign which contained an element that was culturally offensive to locals, then their plan had a very serious shortcoming.

Or, if a lawyer put together a contract that contained a massive loophole that was later used to sue for millions, then the contract had a shortcoming. Similarly, if a factory's production line grinds to a halt because a key raw material runs out, then it is a shortcoming on the part of the operations manager.

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I would think that business shortcomings can refer to a variety of conditions.  In my experience, the usage of the term has been most closely associated with not meeting expectations.  For example, if a company has invested a great deal in a product, complete with publicity, expansive production logistics, and helped to create a certain amount of high expectations accompanying the product, and then it simply fails to meet these aspirations, the shortcomings of it could be traced to a variety of "shortcomings."  Discussion of technical, marketing, and overall production elements can help to bring about a fuller understanding of shortcomings, reference points that help to explain why something did not meet what was previously believed of felt.  Comprehension of shortcomings is a vital component of understanding the differentiation between success and failure in business, or any endeavor for that matter.

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