Business Failure
All businesses are started with the intention of success, although this intention alone cannot guarantee immunity from failure. Whether or not businesses experience success or failure depends on several factors. Some of these factors are in the control of the business owners themselves, such as quality of management, while some factors are out of the control of the business owners, such as current economic climate. The following discussion highlights factors involved in why businesses succeed or fail, and how certain factors such as sex of the business owner or location of the business play into the equation.
Ravindran (2008) described how studies have demonstrated that approximately 50% of small businesses experience failure within their first four years of existence. This failure is most often a result of lack of knowledge regarding proper workings of businesses and poor management (Ravindran, 2008). Another crucial factor involved in the failure of businesses is the absence of any sort of relevant market. This means that individuals start businesses without initially understanding the need for demand for the business they are offering (Ravindran, 2008). The rampant failure of small businesses within a short period of time provides a learning opportunity to other business owners as to what to do and what not to do in order to promote business success. Ravindran (2008) explains how business owners can study the problems that led to the demise of failed businesses in order to increase likelihood of success rather than failure. Furthermore, meticulous planning, clarity in vision, and proper management are key factors involved...
Business Start Up Small Information System: Profitability of a Website Business In any business, the primary objective is to earn profits, and even the smallest business website has to be effective in earning money. In 2002, there was a survey on small business Internet that was conducted by the Verizon Superpages.com of Gallup and they found that as much as 55% of the small businesses on the Web covered their costs, or
Business Management Business Operations and Systems The objective of this study is to outline the essential components for effective business operations management for a UK business whose products are delivered to the door. The parcel delivery conundrum will be examined using an appropriate system and methodology and a discussion will be provided to support appropriate business operations models. Included will be CATWOE, Root Definition and a detailed picture to illustrate the
Business Ethics When the Truth Takes a Stretching Class Maria Bailey clearly and blatantly misrepresented the size of her start-up business, but shrugged it off saying she knew what she was "capable of doing" and just wanted to show potential clients "what we were going to be," rather than tell them the truth about how fledgling her business actually was at that time. Was it immoral for Mary Bailey to misrepresent her company? Looking
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Business Fraud In the wake of scandals such as Enron and others, corporate fraud still appears to be prevalent across the business world. The reasons for this can be many and varied, although greed and a sense of hubris appear to be two of the common role players. In other cases, desperation could also be a factor, where a business is in danger of failing and its owners or managers
More than 44% of users see noticeable indications of benefits from laser treatment within the first 6 weeks. Another 45% see results in 6 to 12 weeks. The remainder sees less dramatic results after 12 weeks. (White Cliffs 2008) 2.3: New Business Strategy Parnell proposes a number of questions regarding business strategy, including "Is strategy-making an art or science? Should a strategy be publicized or kept largely secret? Is consistency or flexibility more important?
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