Analyse the success of the businesses using the following key success factors profitability, sustainable, uniqueness, customers base,corporate social investment
Answers
The overall success or failure of a business depends on many important factors like that of the profitability, sustainability, uniqueness, customer base, corporate social investment and others.
-For example, if a company continues to earn a steady margin or profit in few successive years, then it is bound to continue in then long run.
-Again if a company works is manufacturing its products or services in such a manner that there is no harm posed over the environment in any way, and the ways of production are sustainable, then such a business is a positive one.
-A business can surpass other competitors only when it continues to offer something unique, something that others cannot offer. So, uniqueness is a very important quality of business for a business to survive. This is verified by a S.W.O.T analysis that explains the strengths and weakness areas.
-Again, a business can survive when its customers are happy with the products and services and when it has a good old and new customer base.
-Lastly, the success of a business chiefly depends on how far it has been able to judiciously work towards fulfilling the corporate social responsibilities i.e. C.S.R, and work towards corporate social investment with proper visions and missions.