1.8 What Makes a Business Successful

Question 1

How can Success be Measured?

Answer 1

1. Profit
2. Size of Labour
3. Revenue Size
4. Market Share
5. Customer Satisfaction
6. Growth
7. Personal Satisfaction
8. Employee Satisfaction

Question 2

Why do some businesses fail?

Answer 2

1. Lack of Finance
2. Inability to adapt to market changes
3. Not Competitive Enough