What Makes Businesses Tick?
In 2012 the business world is completely different than it has ever been before. The most recent era of U.S. business, the relationship era, is focused on the business building a strong, long-term relationship with the consumer. It’s based on inspiring loyalty from the customer by managing each interaction between the business and the consumer with care and inspiring confidence in the consumer. This loyalty allows businesses to save money in the long run on advertising and other associated costs because they have a solid core of customers who make up their base. Of course there are some things that have and will always exist such as competition, innovation, and supply and demand, but there is much more to it than just that these days. The business environment is dynamic and there are critical business functions necessary to support it. In addition, individuals and systems are more integrated than ever before. And last, but not least, there are ethical and social responsibilities that have to be addressed in order to be successful. In this paper I will address all of these aspects with the intention of showing you, the reader, what it is that makes businesses tick.
The dynamic business environment of today reflects the social trends and communication trends of the people. No business exists without influence from the outside world and the internet, social media, and effective global transportation makes the outside world well connected. The internet allows real-time interaction and as a result consumers expect real-time solutions and services. Business owners must interact with their clientele, potential clients, other businesses, the government, and the diverse workforce they may employ. All these things together make the business environment anything but simple and streamlined. A successful business must address all these areas appropriately and effectively.
Surviving in the diverse business environment requires...