What Makes a Successful Business

Topics: Management, Strategic management, Entrepreneurship Pages: 2 (402 words) Published: April 1, 2013
What makes a successful business? This is really not an easy question for those who are going to start business. In fact, there are many things that contribute to make a business successful. But the most important ones are strategies, human factor, and leadership.

Good business strategies include good advertisements, having good plans. Advertising has always played an immense role in our society. Without advertising, the average consumer would not know what to buy. It has become fact that advertising affects our daily lives everyday. On the other hand, planning is a key to any business throughout its existence. A business plan can be used as a tool to identify where you are now and in which direction you wish your business to grow. A business plan will also ensure that you meet certain key targets and manage business priorities.

The second factor leading to the overall success of a business is the human factor, the employee. The companies that have a standard policy of putting their employees first, above corporate earnings and prestige, find greater success in obtaining their long term goals. Employees should be treated as valuable team members. It is necessary to give employees a “thank you” or "job well done" to make them feel good about his or her job. It makes them feel respected and treated with dignity which encourages them to have better job performance.

The final important factor is the leadership skills. Business leaders serve several significant functions in their organization. They have great influence on the processing of the whole company. Leaders are responsible for training employees to perform their tasks efficiently, as well as supervising the completion of those tasks. Leaders can help to motivate and give inspiration to the staffs so that they can get excited about their company and their work. Good business leaders usually have a good vision, so thay they are able to identify people who have great capabilities to work towards his goals,...
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