It is the responsibility of every business manager makes sure that the business succeeds in its oper - It is the responsibility of every business

It is the responsibility of every business manager makes sure that the business succeeds in its oper

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It is the responsibility of every business manager makes sure that the business succeeds in its operations and meeting of its objectives. The selection of an effective strategy can be facilitated by the following four key factors. It is therefore important for managers to be informed on the background of their existing and potential customers. This means that the managers have to know the consumption behavior of their customers concerning the products they are selling or wants to introduce. Once the managers are aware of the nature of their customers, they can devise strategies that can work in a given market. For instance, with the understanding of the customers, the company can come up with the most effective mode of advertisement and products promotion. Furthermore, managers should have the ability to visualize the success of a given business. This involves figuring out how successful the business will be in the future. This helps
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Unformatted text preview: the managers in coming up with the strategies that best help in the success of the business. This can be done with the help of the employees or even seeking advice from an expert. Furthermore, the managers should be able to set and maintain high standards of excellence. They should have it in mind that customers are interested in getting value for money in the goods or services they purchase. Setting and maintaining high standards of excellence makes external stakeholders such as suppliers and customers develop trust and loyalty, which are key in making a business succeed. Finally, managers must focus on meeting the expectations of the employees. This is because the employees influence the performance of the business in a significant way. The management should establish a team of employees that is motivated for the business to be sustainable . The management team at EcoMax Plastics Ltd is going to apply these qualities....
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  • Spring '15
  • Mohamed Patel

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