Question

Why do some businesses succeed while others fail? Identify three factors that you believe to be the most critical to business success. Why did you select these factors? Identify three factors that you believe to be primarily responsible for business failures, and indicate why you selected these factors. please give a new answer do not plagiarize  

Answer 1

The three factors that I would consider most important for a business to become success are capital,efficient marketing strategy,and efficient production.These three factors are very important for the success of business.Capital is very important for the business as it shows the ability of the company or a firm to pay off their short term expenses and debts.Without enough capital available the company cannot buy the essential machineries ,equipments etc that is required for the production.There are mainly three capital which the business will focus on.They are working capital,equity capital and the debt capital.The business firms requires capital to hire the workers ,to buy new machineries etc.. Hence the adequate amount of capital is very important for the success of business.Efficent marketing strategies is very important.Only through efficient market strategies the companies can make more profit.Efficient marketing strategy involves and starts with a market place research and this will give an idea about what produces and services should be produced by the business firms to make profits.Efficient production techniques used by the business is another important factor that determines the success of a business .With efficient techniques of production the business firms can achieve high profits .For any business to succeed productivity growth is very crucial

In my opinion the inadequate finance or capita,poor marketing and customer strategy and poor managerial efficiency can be the reasons for the failure of the business.Without adequate finance and capita no business firms can succeed.Running out of the capital or money is the biggest risk for the business firms.poor marketing and customer strategies can lead to the failure of business.poor marketing strategies will lead to lack of the adequate publicity and this may lead to the failure of business.Poor managerial efficiency .Inefficient managerial decisions will lead to poor planning and will lead to failure of the business.