Hi Poooo!!!!Sana Po Mabagot Niyo Po Ang Tanong...Asap Po..Thanks, How Can One Respond Effectively To A Business Enterprise?

Hi poooo!!!!sana po mabagot niyo po ang tanong...ASAP po..thanks

How can one respond effectively to a business enterprise?

 

Answer:

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What Successful Businesses Have in Common

These 14 traits show up again and again when examining the reasons behind business success.

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February 24, 2006 6 min read

Opinions expressed by Entrepreneur contributors are their own.

How does a small company become successful? Despite the bad news we so often hear about the number of small businesses closing or moving, the news really isnt all that bad: Thousands of small businesses startup every year, and a good percentage of those companies have learned what it really takes to survive the early startup years and become successful enterprises.

After working with dozens of small companies, I discovered that the successful ones share some common traits. Here, then, are the 14 qualities Ive witnessed in many of the thriving small businesses Ive worked with:

Company culture. Culture is defined as the "integrated pattern of human knowledge, belief and behavior that depends upon mans capacity for learning and transmitting knowledge to succeeding generations." For successful companies, culture is about attracting and hiring the people who would be most successful in that specific organization. And its about driving the behavior that makes the company successful.

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Customer service. Simply defined, customer service means taking care of your customers. Many companies integrate customer service into their business culture through training and the design (and frequent redesign) of relevant business processes. In most cases, the business plan dictates how they will provide quality customer service.

Attitude. As the owner of the company, you must have a positive attitude and accept 100 percent of the responsibility for the results of your business. When you accept responsibility, you can act to make the necessary changes to accomplish the desired results. Then, when success is achieved, yore generous in giving credit to others within the organization. Without exception, the most successful business owners understand that its all about people: hiring and retaining the right people, eliminating ineffective people and providing the necessary resources for employees to master their tasks.

Business strategy. A complex strategy or business plan isnt necessary to achieve success. A simple one-page document will do, but it should be well thought out and well executed. A poorly crafted business plan thats well executed is far superior to the well-crafted business plan that sits on the shelf collecting dust. A good business plan defines and drives the activities and behaviors of the entire organization. Without it, the business becomes a ship without a rudder; it simply cant be steered and ends up going around in circles. A sound strategy should include a financial plan, marketing differentiators, and product strategy as well as a plan for employee retention.

Discipline. Discipline is all about executing the strategies and then staying the course. Its about staying focused on your core markets and measuring success as defined by your business strategy. Its not about overreacting to market changes and adjusting your core strategy to keep up.

Risk. Successful business owners arent afraid to take calculated risks with clear outcomes in mind. Most owners who take risks do so because they recognize the need to change as the economic climates changes, and they understand its disastrous not to embrace change. Successful business leaders understand that being in business is about managing and responding to change. Companies that succeed embrace change and respond to challenges presented by the market, the competition or changes in general business conditions.

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