Business Success

Masters
Assignment
Business
Pages 8 (2008 words)
Download 0
Success is a journey and not a destination. Therefore, be it a company or an individual, one has to be meticulous in planning and execution of the plan. However, apart from planning some internal as well as external factors also affect a particular firm's success…

Introduction

In order to satisfy customers, products should be competitively priced and should have the desired quality. This is the only was a firm can build up long term relationships with the customers.
The goal of conducting the internal analysis is to find the answer to the question that why the economic performance of some companies are better than the others in the competition. Internal analysis of a particular firm analyzes and lists out the relative weaknesses and strengths of a company as compared to its competitors. By conducting Internal Analysis, the strengths as well as the weaknesses of the firm can be analysed. This helps to compare the strengths and weaknesses with that of other firms, too. Internal analysis also helps determine the resources along with the capabilities required that may help sustain the company in the competitive market. According to Porter's Internal Value Chain, the primary activities required for the internal analysis are production, inbound logistics, sales and marketing, warehousing and distribution along with the dealer support and customer service. The support activities required are infrastructure, procurement, human resource management and research and development technology. (Barney and Hesterly, n.d., A)
Human resource is one of the key factors that influence a firm's success in the competitive market. ...
Download paper
Not exactly what you need?

Related papers

business skills and practices to ensure organizational success
The ability of employees, managers and teams to demonstrate effective listening skills has been identified as a fundamental skill in the workplace. Listening has been defined as a vital connection that is necessary for employees and managers to interpret information and transform it into actions and strategies. The effectiveness and productivity of organizations also depend on its capacity to deal…
Business Skills For Success.
Effective time management and planning can be key components in achieving success at work as well as having a proper work-life balance. Good listening skills are very crucial in communicating with others and can play a key role in achieving success in life. There are some factors that lead to poor listening and these barriers can be overcome to ensure that one listens effectively. Today, stress is…
Characteristics of entrepreneurs and their effect on entrepreneurial business success. Objectives : 1. analyse the characteristi
These attributes are further directed towards the effective accomplishment of success in business. Correspondingly, as stated by Sarwoko & et. al., (2013), entrepreneurial characteristics are determined with a person by his/her level of education, individual morals, age, work capabilities, moral support and professional support. Sorensen & Chang (2006) also noted a similar perspective stating that…
Characteristics of entrepreneurs and their effect on entrepreneurial business success. Objectives : 1. analyse the characteristi
Singh (2007) agrees that central to literature, research methodology is the type of research to be undertaken. There are two key types of research. They are qualitative research and quantitative research. Research methodology is dependent on these two factors. Qualitative research seeks to investigate intangible aspects of literature; especially about emotions, meanings and descriptions. The…
Characteristics of entrepreneurs and their effect on entrepreneurial business success. Objectives : 1. analyse the characteristi
Focusing on this aspect, the research attempted to evaluate the relationship between entrepreneurship and business success. The objective of the research was thus concentrated upon analysing the characteristics of entrepreneurs and its impacts on business. Furthermore, the research also evaluated how entrepreneurs can create business success. The research has been undertaken by using a mixed…
Business Success
In order to satisfy customers, products should be competitively priced and should have the desired quality. This is the only was a firm can build up long term relationships with the customers.…
Software Implementation strategies and their importance to business success
This especially relates to small businesses as their owners often lack the expertise beyond their core activities.…