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Factors that contribute to the success of a business

Business, Community, Culture, Entertainment, Travelling April 11, 2017

This is a very vast topic , but to make it simple and effective I am delivering you this simply ,to make you remember once again

Good Vision
The capacity to envisage future market trends and plan accordingly.
A vision is a vivid mental image of what you want your business to be at some point in the future, based on your goals and aspirations. Having a vision will give your business a clear focus, and can stop you heading in the wrong direction.The best way to formalise and communicate the vision you have for your business is to write a vision statement.A vision statement captures, in writing, the essence of where you want to take your business, and can inspire you and your staff to reach your goals.
Good Strategy/Plan
Clearly Defined Roles
Every successful business had a good business strategy. … You could start with this: Strategy is Focus. A good business strategy focuses on a well-defined target market, with a business offering that matches.

Leader/ Manager
A leader is a person who comes up with new ideas and innovations and helps in moving the others to work in the same direction. A leader needs to be on the top in terms of knowledge and skill. The task of a manager is to maintain those established ideas. The leader of an organisation is supposed to inspire all the workers and a manager’s task is to keep control on them by bringing out their talents. With communication skills and tools like pay scales, placement, and promotion a manager can keep a check and control on people. Thus, in short, a leader develops and whatever a leader develops needs to be maintained by the manager.
Knowledge Management
In any organization, whether a small business, a one man shop, or at an enterprise level, information is created, captured, shared, and modified … and eventually this information is used as a commodity.

Each time an idea exchange happens, there is an increase in the intellectual capital of the members involved in the interaction. These members could be individuals or groups of employees and/or customers associated with the organization. Enterprises know very well that this pseudo-auto-generated intellectual capital must be recorded or stored by the company. It is only then that this information will be available for usage by the next task/process/project/product manager.

A set of processes that govern the creation, distribution, and utilization of human intellect is known as Knowledge Management

Good Employees
Companies hire employees to get certain things done (including managing other employees). Orders generally come from the top down and thus employees are generally expected to do what they’re told to do in the manner that they’re told to do it. There are many people out there who are very comfortable with this arrangement as it provides a certain structure and sense of stability for them, and perhaps allows them to specialize in one thing instead of many different things.

Entrepreneurs by definition are people who are trying their own way to make things happen

Good Meetings/Brainstorming sessions
Brainstorming (roughly defined as any group activity involving the pursuit of new ideas) is popular for two reasons, one good and one bad. The good reason is that a typical brainstorming session brings people together into the creative process, and increases the social nature of the project. 8 or 10 people can get in a room and , and if the meeting is run properly, all feel as though they are contributing to what they will be working on in the future. It can be a bonding experience and, more importantly, get people thinking and communicating with each other about topics relevant to the next few weeks or months of work

Updation/Continued Scalability
A company has good scalability if it can maintain its performance while its volume of data or requests increase. That is, performance should hold steady for the company while the number of customers increases.

Customer Happiness/Satisfaction
The most important thing to consider.Customer satisfaction is a marketing term that measures how products or services supplied by a company meet or surpass a customer’s expectation. Customer satisfaction is important because it provides marketers and business owners with a metric that they can use to manage and improve their businesses

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