The repercussions of lacking expertise can be severe and multifaceted:
Financial loss: Poor financial decisions can lead to significant economic setbacks. Market competitiveness: Struggling to compete with more knowledgeable competitors. Operational inefficiency: Ineffective processes and systems negatively impacting productivity. Employee turnover: High attrition rates due to dissatisfaction with leadership or lack of growth opportunities. Reputation damage: Long-term harm to the business's reputation and brand image.