Analyse the success of his/her business using the following key success factors profitability,sustainability,uniqueness,customer base,corporate social investment
Answers
Answer:
The person whose business needs to be evaluated on such grounds is not mentioned, neither is a case study attached, therefore we can conclude this being an incomplete question. However, following is an analysis of the factors:-
1- Profitability
Most businesses indulge into businesses with the aim of profit making to its max. Whenever profit making is the goal, it leads to great motivation to get maximum revenue for the firm.
When ones revenues are more than its costs, that indicates a profit making.
2-Uniqueness
This refers to the ability of having the skill or service in a business which makes it different or give it a competitive edge. Such a point may be cashed and labelled as a unique selling point for a firm which helps it to become a success by attracting customers towards it.
3- Sustainability
This refers to a business being responsible in its dealings. This depends on the way a business runs. How is that business impacting the environment, for instance is it producing any negative externalizes or not.
The aim exists to increase benefit for various sectors.
When you aim to provide a service to the community, that attracts consumer base.
4-Customer base
These are the main stakeholders who are the customers. These are those clients or buyers who purchase goods and or services from the firm/business. You fulfill their need and your businesses will increase market share.
5- Corporate social investment
This is a way firms try to increase their goodwill. When firms are responsible to bring about investment.