Establishment of a Successful Business Analytical Essay

This paper discusses the major influences that affect the establishment of a successful business.
# 146549 | 1,158 words | 5 sources | APA | 2005 | US


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Description:

In this article, the writer discusses that in order to establish and maintain a successful business in today's society, there are four classifications that impact effectiveness, which include environmental, organizational, interpersonal and individual classifications. The focus of the paper is on the influence of environmental factors. The writer maintains that all forces in the external environment have, or potentially can have, great impact on the success of a business and explains how each force is relevant.

Outline:
Economic
Political/Legal
Social/Cultural
Technological
Competition

From the Paper:

"Of course competition will have some impact on businesses. Unless one is bottling and selling air, there is someone, somewhere selling a product, or offering a service very similar to it. In order to succeed in a competitive environment, a business must have some edge or advantage over the next guy. Let's face it, cosmetics are cosmetics and clothes are clothes. There are many places other places one can purchase similar items. And with the rapid influx of e-retailers, it is difficult to know exactly what the real competition is. Rather than worrying about every Tom, Dick and Harry, or Sue, Sally and Jane, who have set up "shop" in cyberspace, and are peddling products that on the surface appear similar, efforts should be concentrated on acquiring knowledge.
"With the technological advances we spoke of, find out all you can about your customer, who they are and what they want - then give it to them. This is an ongoing process that never ends. With the knowledge you gain, make the necessary adaptations and improvements to remain as competitive as possible. Along with this, offer your customers something that (I believe) is far too often discounted and not given enough credit for its full power."

Sample of Sources Used:

  • Armstrong, Gary & Kotler, Philip. (2004). Consumer and business buyer behavior. In Marketing: an introduction (7th ed., chap. 5. Pp. 170-174) New Jersey: Pearson Prentice Hall.
  • Buhler, Patricia M. (2003). Managing in the new millennium: Business intelligence-an opportunity for a competitive advantage. Supervision. Vol. 64, Issue 8, p20, 3p, Retrieved on July 8, 2005, from http://search.epnet/com/login.aspx?direct=true&db=bsh&an=16747107&loginpage=login.asp
  • Ebert, Ronald J. & Griffin, Ricky W. (2005). Understanding marketing processes and consumer behavior. In Business Essentials (5th ed., chap. 10, pp. 292-294) New Jersey: Pearson Prentice Hall.
  • Kanter, Rosabeth Moss. (2001). Evolve: succeeding in the digital culture of tomorrow. Boston: Harvard Business School Press.
  • Konczak, Lee J. (2005). Management: inventing and delivering its future. Personal psychology. Vol. 58, Issue 1, p217, 4p. Retrieved on July 8, 2005, from http://search.epnet.com/login.aspx?direct=true&db=bsh&an=16335782&loginpage=login.asp

Cite this Analytical Essay:

APA Format

Establishment of a Successful Business (2011, January 03) Retrieved January 28, 2022, from https://www.academon.com/analytical-essay/establishment-of-a-successful-business-146549/

MLA Format

"Establishment of a Successful Business" 03 January 2011. Web. 28 January. 2022. <https://www.academon.com/analytical-essay/establishment-of-a-successful-business-146549/>

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