Author: Naz Daud

The purpose of business is to generate maximum returns for its owners and shareholders. So therefore should the business pursue all activities that enhance profitability and increase the value of the business for the owners and / or shareholders?

I also believe that a business should behave ethically in achieving the above purpose. It is not right just to operate within the letter of the law. Businesses should also try and serve their local community and help its employees lead better lives. They should examine every decision they make based on profitability, long term business value and social responsibility.

By having real policies in place that take care of your employees and the local community it might be argued that long term this will enhance your business brand and over time lead to higher profitability.

By constantly training members of staff and wherever possible promoting from within the organisation will lead to employees that feel empowered to work harder and make better decisions. Having regards to the true well being of your employees will lead to a healthier and therefore happier workforce.

By reducing waste and promoting recycling at every opportunity, overheads will be reduced and in the longer term lead to better shareholder value. It is staggering how much resources including energy are wasted by larger companies. Having a regular energy audit and investing long term to reduce demand can only serve to make the business more efficient.

Many businesses try to serve their community by supporting local charities and sponsoring local people to better their lives. There are many ways to do this including education, sports and the environment. In the short term there will be very few perceivable benefits in terms of profitability but these actions will serve to enhance the business brand and increase profitability over the longer term.

Greed is no longer good and focusing purely on profits is unacceptable to your existing and potential customers. By embracing business ethics and social responsibility the business can benefit from increased goodwill.

About the Author:
Naz Daud – CityLocal Franchise
Business Franchise Opportunity
Business Directory & Franchises

Article Source: ArticlesBase.com – Business Ethics And Purpose

Copyright 2006 Dennis Sommer

Do want to be known as “The Expert” or “The Guru”? Do you want to advance your career and income? If you answered yes to both of these questions then you need to become a ?Top Performer? in your profession. Whether you are now a Manager, Executive, Consultant, Sales or Service Specialist, then Management skills will be one of the keys to your success. Experience and knowledge in your area of specialty may make you an above average performer, but to be a ?Top Performer? start implementing the following 11 Management skills and action items today.

Top performers are successful by being honest, respecting a clients intelligence and focusing all their energies on how to make a difference in a clients life. After reviewing the following ?Top Performer? Management skills and action items, you will know how to be more effective, efficient, and successful.

Strategies for building a strong successful organization.

1. Define both long term and short term measurable goals. Concentrate your efforts on the short term goals. This can be measurable goals either weekly or monthly. The long term goals will come.

2. Fuel your internal motivation by setting clear and concrete goals and objectives. Example, customers to contact, revenue, gross margin, issue response time, etc.

3. Measure everything. Anything with a response that will measure your effectiveness. Develop a scorecard system that tracks your target goal versus what you actually achieved.

4. When your customers perceive your offering or service as being in short supply, they view it as more valuable. Market for 20% more volume that you can manage.

5. Discontinue 50% of your offerings to increase overall sales. To many offerings cause customer confusion and lost sales. Analyze your offerings and discontinue your unprofitable or low margin offerings.

6. Focus promotions on new customers not current customers. Your current customers already know what value you bring to the table.

7. Promote a list of unique features that compliment a competitive solution or show unique value. Your offering will then stand out from the others.

8. Keep it simple and relevant. Eliminate irrelevant information from offering brochures, marketing, and presentations.

9. Empower healthy competition between departments, divisions, and regions. Reward success.

10. Hire competitive people. Competition is healthy and will improve everyone?s performance.

11. Selling success follows six fundamentals:

Passion (for your company, offering, service, and yourself)
Organization (take notes and have all your information at your fingertips)
Planning (develop and execute a step by step plan for each opportunity)
Persistence (never give up)
People Skills (develop excellent written and verbal communication skills)
Offering Knowledge (know everything about your offerings and the competitors offerings).

Amazon Here:

The Seven Principles of Public Speaking $25.00 Put down that dry public speaking book and turn on this engaging audio training program. It's like having your very own public speaking coach to guide you, motivate you, and inspire you to unleash your potential, and achieve results! This exceptional audio program will teach you the skills to present your product, your service, and yourself with confidence before a crowd of any size - whether five...

The Potty Training Years $14.98 ...

Low Profile Selling Style: Watch Your Income Soar with Proven Techniques (Sales Force Training Video) $49.95 Train your sales force to implement the style of low profile selling. Proven techniques demonstrated in this concise video, includes live presentation, dramatizations, and coaching sessions by Tom Hopkins himself....

Author: Carolyn Clayton

There are many different reasons business fail and much of it is debatable but there are some common mistakes that are detrimental in business failure.

Some of the reason many business fail are due to the following reasons:

• Overexpansion.

Many companies over expand too soon. They look at the books and see 3 months of good sales and profit and think right let’s get more staff. Then another 6 months down the line the profits have not followed suit which leaves you in a difficult situation. You need to stick with realistic goals and allow yourself to grow as needs dictate. And old saying ‘don’t not run before you can walk’ is relevant. You need to look at the statistics and watch for trends. If sales and profits looks good now it’s doesn’t necessarily mean it will look good tomorrow.

• Overspending and lack of reserve funds.

Overspending can have detrimental affects. You should only spend on what is necessary. Be realistic, just because you have good cash flow at the minute doesn’t mean you will have in the future. Ask yourself is purchasing this item really necessary, will it make a real difference or not. Look at all the costs of the business and if some are not necessary then drop them. Having money in the bank is important to carry you through market downtrends and seasonal slowness. You should always be prepared for fluctuations in business. You should always put money away in boom times to prepare for the slow times.

• Poor management

Poor management is one of the main reasons business fail. If you haven’t got happy customers and happy stuff your business is almost curtain to fail. Poor customer service, poor accounting and overall employee incompetence can all combine to collapse a business. You need to ensure your employees realise the importance of good customer service. Establish protocols for how tasks should be accomplished and ensure they are carried out. Many companies these days have a relaxed attitude and don’t place to much importance on carrying out basic good management practice. Having meetings regularly with all staff will help your business run smoothly. If no meetings take place then resentment can set in. Everyone needs to air their opinions and explain how their job could be done more efficiently.

• Poorly treated Staff

Labour is the biggest expense for most small business so it makes sense to ensure your company employs the right amount of people and treat them correctly. Companies that invest highly in their staff by offering training and advancement will find it easier to keep their staff. Ensure you pay your staff every month on time as not to do so would be breaching your contract with them. Invest in your staff; they are your biggest asset. If they feel they cannot advance in your business they will not stay long. Listening to your staff is important. If employees are leaving you need to be asking why. Treat your staff how you would expect to be treated and you will gain respect from them and get the best of out them.

• Poor or no business plan

Having a good business plan is your key to success. A well-thought-out business plan forces you to think about the future and the challenges you’ll face. As long as your forecasts are realistic and you have done plenty of market research you should be ok. Ensure your plan has a budget and stick to it.

• Dishonesty and Greed

Being dishonest will catch up with you eventually. Remember your ethics, try to treat your customers and staff as you would be expected to be treated. Don’t charge the earth for customers just because they look like they can afford it, this is exploitation and will come back and bite you on the bum. Greed is another aspect that kills businesses. You feel like you’re on a roll and feel invincible so you over charge people and promise them the earth. When you can’t deliver you will lose customers and eventually your reputation. Always be honest and ethical and you will reap the rewards.

There are other reasons business fail and I have only touched base on some. As long as you work hard, do plenty of research, treat staff and customers with respect, keep a tight control over your accounts and leave your ego at home you should be alright. Oh and most importantly use common sense. You would be surprised at how many business owners are egotistic, arrogant with no personnel skills and very little common sense, these business are bound to fail eventually.

About the Author:
Carolyn is the webmaster of Angel Startups, specialists startup funding, business grants and Business Advice.

Article Source: ArticlesBase.com – Why Businesses Fail