business idea is key factor for succ.
every business has its set of key internal factors
Identifty key internal factors affecting successful peformance e.g.
every business has its set of key internal factors
Identifty key internal factors affecting successful peformance e.g.
- sales growth rate if u have market control
- agressive sales promotion and advertising program in this case is probably good
- companies may have prices dictated to them by monoploy competitiors or big customers
- key factors is cost control, efficiency of operations in this case
- predictability of business revenues is a very important factor
- the right question is can u forecast revenues with some accuracy for several years, it is important to avoid financial embarrassment and problems etc.
- if ucannt do u understand volatileness of it and incorporate that into your plans
examples:
- manufacturing : inventory turnover, prod rejection rate , plant capacity, down time of equipment
- retail : markup %ages ,inventory management , promotional activites costs
- serivce:control of overhead expenses , accounts receiveable management, labor expenses
0 Comments:
Post a Comment
<< Home