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

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

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