This document contains a presentation on the prerequisites of a successful business. It lists the following key elements: defining a successful business, company objectives like increasing profit and revenue, planning, developing relationships, market research, distribution channels, adequate finance, risk management, attractive location, and effective management. It concludes that following all these prerequisites is important for a successful business organization.
5. SUCCESSFUL BUSINESS
A successful business
is one that a
businessman must
render a worthwhile
service or make a
quality product that
can be sold at a profit
consistently and
continuously .
7. COMPANY OBJECTIVES
To Increase Profit
To Increase Revenue
To make Customer happy
To Support the Community
To build amazing product
8. PLANNING
To develop a strategy
To achieve desired objectives
To solve external problems
To increase the productivity
To improve the organizational
structure
9. DEVELOPMENT OF RELATION
To maximize employees
performance
To understand the emotions and
needs of others
To keep a working environment
To achieve the goal
10. MARKET RESEARCH
To test consumer’s acceptance of
product
To improve aspects of business
To serve information from consumer to
producer
To know the popularity of brand
To develop competitive strategies
11. DISTRIBUTION CHANNEL
To make product available
To reach the product at the actual
consumer
To supply product with minimum
cost
To take control over the channel
To achieve the loyalty of consumer
12. ADEQUATE FINANCE
To consists the capital of business
To buy the permanent assets of
business
To reduce the risk of bad debt
To ensure the right use of fund
To attain the success
13. RISK MANAGEMENT
To produce variety of product
To reduce and control expenses
To consists a business co-
operative
To decentralize the market
To recruit a market analyst
14. ATTRACTIVE LOCATION
To find a convenient place
To connect with consumer
To get the advantage of transport
To collect product materials in short
time
15. EFFECTIVE MANAGEMENT
To observe the business carefully
To capable of managing any hard
situation
To motivate the indolent and insolent
worker
To co-ordinate among all department
of business & lead to success
16. In the conclusion of the
essentials we can say
that all of those
prerequisites are
important for the
successful business
organization.
If we follow them we can
get along with others will
go a long way to make a
business successful.