Achievement and success is an aspiration of any business oriented company. Majority of companies today try their level best in building global interactions to increase their sales and become famous globally. Every company aims at becoming the best producer and marketer, especially when in competition. Managers and leaders in these companies create good affinity with their clients and customers by improving their managerial skills and ensuring the focus of their objectives. Thus, for a company to experience a greater success, it has to be vibrant of generating new unique innovation that would fit the competitive world (Camilleri, 2018). This paper will discuss five key factors that successful firms use to ensure prosperity in their goals as discussed below.
Planning, management, adapting technological changes, understanding customers and sales and supply chain management are the major considerations companies look into before setting a business. These are the major key issues leading to prowess for any industry. Research shows that ignoring these factors would impact negatively to an organization. Instead of encountering success as many misfortunes will fall underway until keen consideration of such aspects are looked into aggressively (Silvetri,2017). Before one sets up a company, one should keenly carry research by looking at literature review of various related projects. This will help avoid mistakes by predicting risks and adapting various mitigating measures.
Early preparation and proper planning are what successful companies employ before setting up a goal (Kerzner,2017) In a true life situation; one cannot just travel to a place without having an agenda of what he is going to do, what means to use, who to interact with or what to wear. It is certain that if that individual will not acknowledge preparing for the journey, the person will remain stranded and the journey would be procrastination. Just like one has to prepare to set for a journey, a company should adequately prepare by wisely determining its objectives, employee to involve and the customers to interact with, or else it would like a dream as actions without planning will lead to no avail.
Future preparation entails planning on objectives, predicting the major and minor shortcomings likely to be incurred and adequately looking for measures to mitigate the shortcomings. Positive impacts of the objects should be seen as major milestones to success and optimism should be widely practiced as these firms do. To become one’s boss entrepreneurs take risks through venturing new opportunities that come into the market and optimizing on them to create a huge impact on the society to attain unexpected profits (Kerzener, 2017).
Big organizations plan on ways to track success through control measures of baseline data. This help checks on the firms’ progress and efforts to make huge implications to itself. It is done by measuring incremental progress and looking at potential areas of success. In case of any market challenges the company anticipates on ways of decision making, who to involve and how to tackle with its clients to ensure they are not affected by market demands.
Secondly, firms that succeed have superior leadership and proper management in that it focuses majorly on team spirit, time management, and client focus. These are core values that every upcoming industry should use. All executives and the entire team members should vividly understand the companies’ mission and mission. You cannot just incorporate something into your life without knowing what you want to do and where you want to go. Thus a real manager should have a strong team that understands its aim by cooperating with the entire organization to ensure remarkable returns to its clients. Ambitious managers who are goal oriented are employed in such companies. Leaders who are experts in their field and can bring a huge impact to the organization (Silvestri, 2017).
Leaders create a good rapport with his employees by ensuring a good relationship where workers can express themselves comfortably without any fear at all. They should share their problems easily with their boss to ensure achieving the targets required. Top-down communication should be enhanced to ensure surprises are avoided. Goals made should be specific, measurable and achievable as per the time provided (Hausman, 2014).
Good managers should have good interpersonal skills to ensure respect and that everyone admires who they are due to their unique capabilities of doing things. Any information passed should be accessed by anyone in the organization to avoid misunderstanding and poor coordination of tasks. Everyone should have define tasks to avoid collision of employees. Those who do their tasks remarkably to be rewarded to ensure hard work is maintained. Use of emails and conference meetings should be apprehended when conveying a message. The manager at least should have face to face interactions with the employees to make a comfortable relationship with them to reduce fear as it is a common fact in many organizations of today (Gregg, 2017).
Ensuring increased sales through proper supply chain management is another key factor of success determination. This is done through a proper survey of the market and consumers to involved (Gregg, 2017). To make greater sales one should produce goods that are of customers preference. During supply chain distribution, it is advisable that companies involve the chain suppliers such as the retailers to know what clients prefer most. For instance, goods preferred in the market should be produced in larger quantities and qualities to ensure quick and larger sales. A strong communicative supplier should be maintained to ensure upcoming plans and changes in the market are incorporated at the right time.
The leveraging technological change ensures companies attain their goals as required. It should deliver highly personalized customers experience to ensure they keep on admiring the company’s goods. In case of any technological advancement, the company should be prompt in making a decision rather than relying on data (Camilleri, 2018). This creates a stiff competition in the market as clients will always want to buy goods from the most trending firms. They should acquire customer’s insights in making better decisions. Through this, the company ensures prowess in its daily endeavors.
Understanding customers are necessary for any organization. This is regarding population changes and trending issues of the society. If the majority prefer certain products, they should ensure they are manufactured in adequate proportions. Other clients use the internet to acquire information. Thus companies should try their level best in advertising their products through the attain to acquire rating s and appraisal. Goods brought in the market should pass through ethical consideration to ensure customers embrace it (Hausman, 2014).
We can do it today.
As per my experience in the company I currently work with I rate managerial skills, plan adequate planning and preparation and sales and supply chain management at a scale of eight while leveraging technological change and customer understanding at a scale of four. It has been great working with the company, and I enjoy its managerial and superior management.
Prowess in any business organization is determined by how you prepare and plan for organizations activities. Organizations with good management experience success due to teamwork enhancement. Increasing sales and understanding customers by adopting technological changes ensure that greater profits are made. All these factors ensure that there is a long-term run of the company.
- Camilleri, M. A. (2018). Strategic Planning and the Marketing Effectiveness Audit. In Travel Marketing, Tourism Economics and the Airline Product (pp. 117-135). Springer, Cham.
- Gregg, D., & Parthasarathy, M. (2017). Factors affecting the long-term survival of eBay ventures: a longitudinal study. Small Business Economics, 49(2), 405-419.
- Hausman, A., & Johnston, W. J. (2014). The role of innovation in driving the economy: Lessons from the global financial crisis. Journal of Business Research, 67(1), 2720-2726.
- Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
- Silvestri, C. (2017). An Analysis of the Relationship between Quality Factors and Customer Loyalty for Success of Firms in the Service Industry. Strategic Marketing Management and Tactics in the Service Industry, 74.