Business Success Assignment Example | Topics and Well Written Essays - 2000 words

Business Success - Assignment patternIn order to satisfy customers, products should be warlikely priced and should have the desired quality. This is the only was a immobile can build up long term relationships with the customers.The goal of conducting the internal abbreviation is to find the solve to the question that why the economic performance of some companies are better than the others in the competition. midland psychoanalysis of a particular firm analyzes and lists out the relative weaknesses and strengths of a company as compared to its competitors. By conducting Internal Analysis, the strengths as well as the weaknesses of the firm can be analysed. This helps to compare the strengths and weaknesses with that of other firms, too. Internal analysis also helps determine the resources along with the capabilities required that may help sustain the company in the competitive market. According to Porters Internal Value Chain, the primary activities required for the internal analysis are production, inbound logistics, gross sales and marketing, warehousing and distribution along with the dealer support and customer service. The support activities required are infrastructure, procurement, gentle resource management and research and development technology. (Barney and Hesterly, n.d., A)Human resource is one of the key factors that influence a firms success in the competitive market. ... If a particular firm has rare and valuable resources that are hard-fought to be replicated by competitors, then the firm is at an inherent plus position. However, the firm should strategies in get into to leverage these strengths to generate competitive advantages. A business organization also needs to pay collect attention to the intangible assets along with the tangible ones like brand equity, Intellectual Property and the knowledgebase residing within the employees of the company. This is passing beneficial while implementing and conceiving the strategies. If a c ompanys co-operative relationships are better, then quite naturally that firm is at an advantageous position. (Barney and Hesterly, n.d., A)However to maintain a smooth and uninterrupted supply of human resource, companies need to make for sure that the employees in general are happy and the labourers in particular. It is seen from the past records that industries were there is a high magnetic dip of labourers forming unions the net profitability is comparatively much less, as in steel, airlines and automobiles. Companies irrespective of their size and domain of outgrowth should strive to keep the tendency of forming labour unions at the lowest best to yield maximum profit. Fig. 1 shows how the percentage of profitability decreases with an increase in the percentage of employees unionized. Fig. 1 The Impact of Unionisation on advantageousness(Source Robert M. Grant, 1998)Another important factor responsible for a companys success is the marketing skill. It cogency happen that t he products offered by a firm are of superior quality and is also offered at competitive prices, but the customers might be unaware of the particular product. So, it is very much necessary to know the art of