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Finance & Accounting
Pages 5 (1255 words)
The performance of a company is essential towards its growth. There are various internal, as well as external factors that have a great influence on the success of a business (Albert, 2008)
Although, it is practically not possible to control some forces that operate outside a business, such as availability of the capital and the world economic conditions, management need to inspire and guide internal operations in helping ensure a secure competitive position within the marketplace. Moreover, both innovation and adaptability are essential in helping gain market share, and stay profitable in the event of fluctuating economic climates (Hill & Westbrook, 1997). Research show that for a business to remain being competitive in the market, it has to always impress innovative services and products, a market plan and a fair pricing (Hill & Westbrook, 1997). In meeting the high standards, there is need for an operation efficient to be implemented as it helps in keeping the price competitive. For a well-run business, a shared goal is often incorporated with a view to inspire a spirit of co-operation among its departments (Humphrey, 2005). In challenging times, dynamic leadership is crucial for maintaining a profitable business. Excellent performance is credited to increased productivity to the main company. Increased or impressive productivity is the central core of many companies (Menon, et al. 1999). ...
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