plesase review the GT task 2
Posted: Thu Apr 28, 2016 8:00 am
Is money a true indicator of the success of a business?
In what other ways could success in a business be measured?
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Money is an integral component in everyone’s life. Be it for personal or business growth, it’s an important factor for measuring the success. Below is the gist on the success factors.
Every business requires certain measurement in order to gauge the success. Without money, a business won’t be able to pay off the fixed operational cost like salary for the employees, monthly bills and logistics cost etc. Every organization maintains a balance sheet in order to determine its profitability in a fiscal year. This gives a snapshot to the stakeholders how much profit has been made by the organization in a stipulated time frame and where it is heading to. This will even attract the investors to invest more funds and the employees to have a trust on them.
On the other side, apart from money there are few more factors which are being considered to determine the success of a business. Firstly, what is the vision of the business and how effectively they are strategizing it? For e.g. Kingfisher airlines at one point of time was the best carrier service in India. However, the management of the organization didn’t plan and invest the funds effectively and ended up in being a bank corrupt. Expansion is another factor that needs to be considered in order to evaluate the success. For instance, how many clients are using the product/services provided by the organization across the globe? Another factor is how well the organization is growing . For instance, Facebook recently acquired whats app application (communication tool) which indicates the expansion of their business globally and therefore increasing their scope too.
I believe the money is core component for a running up the business. However, the success would also be determined by the other factors like idea or service what you provide to the end user and how it is easing up. For e.g. google provides a search engine and considering the usability it is one of the popular used search engine globally.
To conclude, money is inevitable in order to drive the business and determining the profitability will help in achieve the business goals which and the success.
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Appreciate your feedback.
In what other ways could success in a business be measured?
************************************************
Money is an integral component in everyone’s life. Be it for personal or business growth, it’s an important factor for measuring the success. Below is the gist on the success factors.
Every business requires certain measurement in order to gauge the success. Without money, a business won’t be able to pay off the fixed operational cost like salary for the employees, monthly bills and logistics cost etc. Every organization maintains a balance sheet in order to determine its profitability in a fiscal year. This gives a snapshot to the stakeholders how much profit has been made by the organization in a stipulated time frame and where it is heading to. This will even attract the investors to invest more funds and the employees to have a trust on them.
On the other side, apart from money there are few more factors which are being considered to determine the success of a business. Firstly, what is the vision of the business and how effectively they are strategizing it? For e.g. Kingfisher airlines at one point of time was the best carrier service in India. However, the management of the organization didn’t plan and invest the funds effectively and ended up in being a bank corrupt. Expansion is another factor that needs to be considered in order to evaluate the success. For instance, how many clients are using the product/services provided by the organization across the globe? Another factor is how well the organization is growing . For instance, Facebook recently acquired whats app application (communication tool) which indicates the expansion of their business globally and therefore increasing their scope too.
I believe the money is core component for a running up the business. However, the success would also be determined by the other factors like idea or service what you provide to the end user and how it is easing up. For e.g. google provides a search engine and considering the usability it is one of the popular used search engine globally.
To conclude, money is inevitable in order to drive the business and determining the profitability will help in achieve the business goals which and the success.
***********************
Appreciate your feedback.