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What makes а company successful? characteristics of successful companies

Organization is a group of individuals working together to achieve one or more objectives.

Success of such organization is often the result of hard work and good planning. Business owners measure success in different ways, but there are reliable methods for achieving success that need to be part of your corporate planning and administrative process.

Business and marketing plans are the road maps to becoming a successful company. Your company growth, new product, marketing campaigns and revenue should be carefully planned. Good planning keeps the company focused on the activities that generate profit.

Employee relations, competitive salaries, health benefits, career development and a safe working environment are elements of employee retention. A successful company works hard to recruit good talent and keep it. The business will be successful if all employees can be more productive & creative: when organizations treat their employees well, the employees treat their customers accordingly. Your company development is stopped when you are constantly trying to replace experienced employees.

Your management team develops and administers the plans that help your company move forward. Strong management becomes an important part of other elements of the company, such as business planning and employee retention. When the staff has confidence in management, it will work to make the company plans successful.

In conclusion I would like to say that it is difficult for a company to move forward and be successful without financing, but you can achieve a success through hard work and good planning.

ETHICS

UNETHICAL BEHAVIOR AT WORK. BUSINESS RESPONSIBILITY TOWARDS ITS SHAREHOLDERS (CLIENTS, SHAREHOLDERS, COMPETITORS)

Ethics is defined as a moral philosophy or code of morals practiced by a person or group of people. An example of ethics is the code of conduct set by a business.

The first is relationships between the employer and the employee. Companies must provide equal opportunities and create affirmative action program, to ensure that people are recruited and promoted on the basis of merit and not discriminated against on the grounds of race or gender.

The second is relationships between the workers. In this relationships must be trust, respect, honesty, partnership, politeness and fair competition.

The third is outside relationships with suppliers, consumers, clients, partners, banks, competitors. For example, ethical policy of banks is a clear set of promises to customers about how will and won’t invest money. It is based on the consultation with customers. They tend not to invest in a business involved in the manufacture of armaments, but they invest in social or environmentally beneficial activities, such as renewable energy. The main idea is to build trust between the bank and the customers, because higher trust creates higher loyalty.

The next is relationships between the company and the state. You must comply with laws and pay taxes at time. Meanwhile financial institutions try to fight insider trading.

And the last is relationships with environment. Manufacturers increasingly claim that their products are green or environmentally-friendly in all stages of their production. Also cosmetics companies increasingly say that their products are not tested on animals.

Taking everything into consideration I am inclined to believe, that all businesses increasingly want to be received as good citizens. Being ethical, adds prestige to the image of company.