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Standard Grade Business Management - What is a Successful Business?
 

Standard Grade Business Management - What is a Successful Business?

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    Standard Grade Business Management - What is a Successful Business? Standard Grade Business Management - What is a Successful Business? Presentation Transcript

    • WHAT IS A SUCCESSFUL BUSINESS?
    • Success in business is measured in different ways:
    • Achieving ...
      • profit
      • the aims of the organisation
      • good sales figures
    • Stakeholders Employees Community GOOD RELATIONSHIPS
    • Leading innovation
      • Developing new ideas and making discoveries
    • Achieving growth
      • Internal/external expansion
      • Mergers
      • Takeovers etc
    • Providing a good quality product or service
      • A good reputation can be worth a lot of money - think of Marks and Spencers
      1st
    • Having good resource management
      • Using resources efficiently (ie staff, money, materials etc) to make most profit
    • Having a large market share
      • Selling more than your competitors
    • Achieving a surplus of funds or breaking even
      • For public and voluntary sector organisations
    • These measures of success ...
      • . . . tie in with the objectives of different types of organisations which you studied previously
    •   Read the case study on Worksheet Successful Businesses – worksheet 1 and answer the questions.