What makes a business successful?
There are many ways a business can be seen as successful. For example:
A successful business is one that meets its objectives. There are many different ways of measuring a businesses success some of these include profit, for many businesses increasing their profit is a main aim. Without profit it is difficult for a business to grow. Growth can be measured by increases in profits and sales. Another way in which success can be measured is through a businesses market share. If a business grows it will need to employ more people. Job creation is also an important measure of success as the local community and increasing productivity or reducing costs country benefits if more jobs are created. Additionally, cash flow and ethics are important in showing success in a business.
is a main aim.
- Profitability and growth (how much money they earn)
- Market Share (the % of market share the company holds)
- Job creation (how many people they employ)
- Cash flow (how much money goes out and in)
- Ethics (what ethics does a company believe in, for example do they support Fairtrade?)
A successful business is one that meets its objectives. There are many different ways of measuring a businesses success some of these include profit, for many businesses increasing their profit is a main aim. Without profit it is difficult for a business to grow. Growth can be measured by increases in profits and sales. Another way in which success can be measured is through a businesses market share. If a business grows it will need to employ more people. Job creation is also an important measure of success as the local community and increasing productivity or reducing costs country benefits if more jobs are created. Additionally, cash flow and ethics are important in showing success in a business.
is a main aim.