StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Writing to Show Cause and Effect (Causes of business growth and failure, marketing, business trends) - Research Paper Example

Cite this document
Summary
The main purpose why businesses are established is to maximize on profits and minimize on its expenses. Business people come up with very successful business plots that can be effective when properly managed. …
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER95.6% of users find it useful
Writing to Show Cause and Effect (Causes of business growth and failure, marketing, business trends)
Read Text Preview

Extract of sample "Writing to Show Cause and Effect (Causes of business growth and failure, marketing, business trends)"

Causes of business growth and failure, marketing, business trends Introduction The main purpose why businesses are established is to maximize on profits and minimize on its expenses. Business people come up with very successful business plots that can be effective when properly managed. However, due to some of the limitations and depending on one’s preparedness the chances of prosperity are determined. Business growth is impacted and withheld by a number of factors. From this perspective, this paper will discuss causes of business growth and failure, marketing, business trends. Some of the factors in the market favor prosperity of business ideas. Anyone getting into business should be ready to face the risks involved. Before the implementation of a business idea to a real thing, one needs to be aware of some factors like availability of market, availability of capital and the competitors. The owner of the business idea should weigh between different options and settle for the best and legal option. They have to consider the niche in the market that they are going to fill and the likelihood of the idea developing to a big reality. Study experts say that, one does not engage into any business activity before they get prepared for the risks and challenges in the market. They should equip them selves with proper management skills, good customer relations, and perseverance to tolerate the challenges in the market. Therefore, this enhances the business to stabilize with changing times (Gitman, Lawrence, and McDaniel 348). Failure of business ideas, triggered by failure of proper market evaluation and which triggers poor marketing of commodities and this makes a business loose its customers to the competitors. Customers should be the main thing that any business should aim at satisfying; profits come second to the satisfaction of customers (Blythe, Jim, and Zimmerman 386). Some of the businesses focused with short-term goals of attaining profits instead of first creating the basis on the market for where to market their goods end up not securing their positions in the market and hence their closure. Research in the market revealed that, some of the inaccuracy failures are avoidable if they had focus on the real factors that are challenging in the market. By focusing on long-term goals, it will prioritize the consumer needs, enabling their establishment. The business owners should handle any incompetence in the market by themselves. By consulting from survey respondents, they may end up getting the wrong picture of the market strategy. Studies reveal that, some of the surveyors only aim at impressing the business owners rather than giving them the real picture of the situation. The business owners should therefore, aim at running their enterprises carefully. They should not base their performance on research results. Otherwise, they should blame the government and other financial institutions for their failure (Hutt, Michael, and Speh 110). As businesses grow, the owners should now turn their plans on how to maximize their profits by trying to achieve economies of scale and how best one can achieve it. By this level, the business owners have usually established the products that are on demand and should therefore, set a price that is affordable to the buyer and is favorable to the seller (Czinkota et al 87). On addition, for one ensure they satisfy the changing demands of customers in an effective way, they should be flexible and be ready to face conflicting interests and also other risks in the business. They should be ready to listen to customer opinions, adjust, and avoid repetition of same mistakes. Research showed that, most of the entrepreneurs who prosper are those listen to advice, complains from their consumers, and therefore, adjust for their durability in the market, and attain their long-term aim of earning profits (Gitman, Lawrence, and McDaniel 348). Business owners should also exercise proper accounting of their finances. The finances are crucial, close monitor is necessary to ensure proper record management, and handling of finances. As the business develops, then the need arises for a more specialized individual to check on cash management and maintenance. Over-expansion of businesses may result to the business venturing into unprofitable markets, which rather damage the progress in the market affecting its economies of scale. Moreover, as the market develops the business may loose its prominent customers also increasing the financial constrains. Hence, this raises the issue of specialization in handling the different sectors (Hutt, Michael, and Speh 124). The business should have an effective management team that should be capable of doing some of the main tasks including planning and setting the business objectives and directives how to achieve the targets. He should ensure that the administration organizes the working activity and assigns duties to all workers and giving each their responsibility, they should offer training and develop the skills of their workers to enhance the output production. For workers who do not meet the standards of the enterprise can be laid off or be pushed towards achieving the goal of the institution (Blythe, Jim, and Zimmerman 386). Marketing of products for any business affects greatly the stability of the enterprise. Some of the marketing strategies that any business enterprise can develop include sales representatives, road shows, giving gifts and samples and also placing adverts on social media like televisions, radio and the internet too. They draw customer attention into buying new commodities in the market. The most reliable and cost effective way that is likely to pass information to many individuals is the use of social media. They can be used to convincing the consumers on the use of commodities and this increases the number of sales. It is necessary for enhancing the establishment of new businesses in the market (Czinkota et al 87). Some of the trends that some businesses have embraced to enhance the progress of activities by the business that help build its publicity and increase public awareness of its existence. These trends involve business-to-business relations that focus on promoting the welfare of each other. They help each other establish in the market by creating ties between them. They also help each other in the management of finances and proper planning for to ensure that production changes with the changing times and needs (Blythe, Jim, and Zimmerman 386). Other trends that have emerged and the businesses should embrace are the new technologies that foster proper record keeping and ensure security and privacy of information. Study has shown that, by trying out the new technologies, businesses will be able to serve their clients faster and in a reliable manner, and therefore enhancing their output. To add on some of the upcoming trends, payment means have advanced for both security reasons and efficiency. This enhances proper management of finances because the amount of cash to handle reduces (Hutt, Michael, and Speh 64). The enterprises can also enjoy the new methods of mobile marketing that is enabled on most mobile devices. Photo sharing has enabled the business owner to demonstrate their commodities and premises to a greater global market. To conclude, business ideas implemented into the market face many challenges as they develop and hence, the need for business owners to be keen on management. Proper management is the key factor; it creates the basis for business establishments. The business owners should be the key players in administration performing roles of staffing, directing, coordinating, and planning. They should also do research on new trends in marketing, management and enhancing customer relations. By keeping updates on new trends, there is a likelihood of the prosperity of the business. Work cited Blythe, Jim, and Alan S. Zimmerman. Business-to-business Marketing Management: A Global Perspective. London: Thomson Learning, 2005. Print. Czinkota, Michael R, Ilkka A. Ronkainen, and Masaaki Kotabe. Emerging Trends, Threats, and Opportunities in International Marketing: What Executives Need to Know. New York: Business Expert Press, 2009. Print. Gitman, Lawrence J, and Carl D. McDaniel. The Future of Business: The Essentials. Mason, OH: Southwestern Cenage Learning, 2009. Print. Hutt, Michael D, and Thomas W. Speh. Business Marketing Management: B2b. Australia: Southwestern, Cengage Learning, 2012. Print. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Writing to Show Cause and Effect (Causes of business growth and Research Paper”, n.d.)
Retrieved from https://studentshare.org/english/1461113-writing-to-show-cause-and-effect-causes-of
(Writing to Show Cause and Effect (Causes of Business Growth and Research Paper)
https://studentshare.org/english/1461113-writing-to-show-cause-and-effect-causes-of.
“Writing to Show Cause and Effect (Causes of Business Growth and Research Paper”, n.d. https://studentshare.org/english/1461113-writing-to-show-cause-and-effect-causes-of.
  • Cited: 0 times

CHECK THESE SAMPLES OF Writing to Show Cause and Effect (Causes of business growth and failure, marketing, business trends)

Misevaluation Affects the Failure of Merger and Acquisition Activities

A detailed approach has been presented in the chapter that also covers other elements affecting the result of mergers and acquisitions in the business environment.... The understanding over the impact and influence of misevaluation in the failure of mergers and acquisitions has been presented in a logical and illustrative manner by covering wide arrays of information on the research topic.... … The understanding over the impact and influence of misevaluation in the failure of mergers and acquisitions has been presented in a logical and illustrative manner by covering wide arrays of information on the research topic....
27 Pages (6750 words) Dissertation

Strategic Management and Business Policy of Perfection Foods

The market trends of the previous years show that around the year 2011, the household... Market Overview The Bakery sector is one of the most flourishing sectors for business and high returns on investment as the bread and bakery items forms a significant part of the diet for the population of UK....
26 Pages (6500 words) Assignment

The Features of Market Change

According to several classical business theories like The Uppsala Model, when entrepreneurs are in a position to internationalize, they should target the developing regions, where new markets are waiting and new trends can be set (Jain & Griffith, 2012, pp.... Company based report [Instructor Name] Company Based Report Abstract In businesses there is a probable chance that environments change, more specifically the external environments including market and the business itself (Aswathappa, 2010, pp....
10 Pages (2500 words) Essay

Business Law and Ethics

A paper "business Law and Ethics" outlines that the efforts to redeem these institutions entailed the injection of government assistance into the management of the institutions, as organizational boards were blamed for being unable to uphold the oversight of the organizations.... The company has also met the standard that the board members should be highly experienced in the business areas of the company.... For instance, from the case of KF & IC, the different members were selected on the basis of their knowledge of the Kuwait business environs, and their experience in the financial and investment business (KF & IC 1)....
17 Pages (4250 words) Assignment

Case Study Analysis Of A Business Failure: Woolworths Plc

This case study shall deal with the phenomenon of business failure, and its occurrence in the UK retail sector.... Several of these hardest hit are in the retail sales business.... The recent economic crisis came at the end of a long and bullish economic cycle, when most forecasts were optimistically projecting record earnings for most enterprises into the next five years....
40 Pages (10000 words) Essay

Business Failure - Woolworths Plc

This case study shall deal with the phenomenon of business failure, and its occurrence in the UK retail sector.... The author of this essay "business Failure" touches upon the typical problems in business.... Several of these hardest hit are in the retail sales business....
39 Pages (9750 words) Essay

The Diageo Companies in Global Business According to Randall Haase

It is active in branded beverage alcohol business on a global scale.... hellip; Diageo faces business rivalry from Allied Domecq, Pernod Ricard or CCU, as these companies have a vast range of alcoholic drinks portfolios.... Diageo differs with its competitors only in lagging behind in competition in the wine business and putting a greater stake in its global brands, mainly spirits and flavoured alcoholic beverages.... An acquisition or cross-border merger is a business practice to get a firm foothold in the market....
16 Pages (4000 words) Literature review

The Issue of Globalization

This report "The Issue of Globalization" analyzes whether globalisation indeed impacts international marketing and how does it affect this arena.... Additionally, traffic infrastructure has rapidly developed because international marketing has demanded the same.... lobalization tends to attract debate for two major reasons: the source and the impact it has on international marketing.... Similarly, as the issue of origin attracts differing opinions, so does the impact globalization has concerning international marketing....
8 Pages (2000 words) Report
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us