Prerequisites of a successful business
Transcript of Prerequisites of a successful business
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GROUP NAME : EMERGING STARS
Member name Roll No.1. Raisa Islam Khan 2692. Bipasha Hossain 2803. Jakia Sultana 2814. Sheikh Nafis Imtiaz 2985. Md. Lutfun Arefin 306
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Welcome to our Presentation
Department of BBADHAKA COMMERCE COLLEGE
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PREREQUISITES OF A SUCCESSFUL
BUSINESS
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DEFINING SUCCESSFUL BUSINESS
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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 .
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FEATURES Prerequisites of successful business
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COMPANY OBJECTIVES
To Increase ProfitTo Increase RevenueTo make Customer happy To Support the CommunityTo build amazing product
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PLANNING
To develop a strategyTo achieve desired objectivesTo solve external problemsTo increase the productivity To improve the organizational structure
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DEVELOPMENT OF RELATION
To maximize employees performanceTo understand the emotions and needs of othersTo keep a working environmentTo achieve the goal
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MARKET RESEARCH
To test consumer’s acceptance of product To improve aspects of businessTo serve information from consumer to producer To know the popularity of brand To develop competitive strategies
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DISTRIBUTION CHANNEL
To make product available To reach the product at the actual consumerTo supply product with minimum cost To take control over the channel To achieve the loyalty of consumer
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ADEQUATE FINANCE
To consists the capital of business To buy the permanent assets of businessTo reduce the risk of bad debt To ensure the right use of fundTo attain the success
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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
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ATTRACTIVE LOCATION
To find a convenient place To connect with consumer To get the advantage of transport To collect product materials in short time
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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
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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.
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Any Questions ?
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