How to Achieve a Wide and Sustainable Success
By: Inbar Granat
Chosen Audience: Managing Director of an established family business
Cass Business School
Student ID: 130013311
Liberty House Flat 17, 218 Saint John Street, London, UK, EC1V 4AT
30inbar4@gmail.com
07776751130
Word count: 1,520
Verification that entry has been checked for plagiarism:
Dear Managing Director,
As a Managing Director of a mid-size business, it is important to know that there is more to success than profit. Business success also includes the message conveyed and the impact of the business on its customers, employees, society, the community and the environment, as well as the relationships that are formed because of the business. Additionally, it is important to
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First and foremost, you must have a clear purpose for the business and it cannot be “to make money”, it must be deeper than that. Think about why you created the business in the first place, what did you intend to achieve with is, and what message did you want to send the customers and the society. Write down your core purpose in clear and concise manner. This affects all of your actions as you will consider if the purpose is being achieved and the message is being transmitted in everything you do.
After having a clear purpose, you must reflect upon the impact and relationships your business creates for various stakeholders:
1. Your business and your employees
Your employees should be satisfied with their job, to allow them to be motivated. Motivated and happy employees create a better atmosphere in the workplace and increase the satisfaction of customers and therefore sales. Hence, it is important to ensure that the employees are satisfied with their jobs. In order to do so, you could arrange weekly or monthly meetings with the employees to listen to their thoughts and feelings, which will allow you to adjust the employment and workplace conditions accordingly.
Additionally, your employees should believe in the purpose of your business. They should understand not just what their jobs are or how things work in the business, but WHY the business does what it does.
1. Compile a business vision about the type of product or service you think your company needs to develop. Next, describe the business values and corporate values that you want to create.
The company can’t give everyone a high salary and it has operating costs that have to be considered. A company will always try for the highest profit, and this might mean stressing the current employees because they will have more tasks but not more help. No employee wants to feel abused. All of these factors play a part in job satisfaction.
2000 studies have been published on job satisfaction since the 1950’s (Kahn, 1972). Job satisfaction refers to an employee’s feelings towards their job based on the comparison between actual versus desired outcomes (Locke, 1969). Each individual experiences various levels of job satisfaction due to their different expectations towards their job
Job satisfaction: ensuring that employees are supported and feel confident in undertaking their duties; providing task variety and achievable targets to promote fulfilment
Employees are the most important asset of an organization and organization has the responsibility to keep happy, motivated and satisfied so that their interest does not diminish in work. Moreover, when employees are kept happy and satisfied then their productivity rises as they feel that the company has given them the importance.
1. Compile a business vision about the type of product or service you think your company needs to develop. Next, describe the business values and corporate values that you want to create.
Employees should always be motivated; this attracts talent, opens up new channels for innovation and creativity and brings in a sense of satisfaction among them which helps the growth and development of the organization.
Researchers in the past have made valuable discovery about employee relations what is the cause of dissatisfaction and satisfaction at work. Companies that want to
Create and communicate a fair vision and mission for your business. Studies show that most people want to believe that there is a purpose and meaning in their work. If your team happen to understand the meaning and direction of their company and their role in creating the desired results, they are looking to gain a sense of purpose and
This survey is aimed at establishing what motivate and to establish whether employees are satisfied in whatever they do in the organization.
6. Create company goals and objectives- Goals are long range attributers that the firm seeks to accomplish. Objectives are quantifiable and more precise- they should be specific, measurable, assignable, realistic, timely, and written down. This can be tied into the vision and mission statements. My company’s goal is to satisfy the needs of the customers. My objectives will be to provide quality services to customers by greeting them when they walk through the door, maintaining a clean environment, and having a positive attitude.
Job satisfaction in regards to one’s feeling or state of mind regarding nature of their work. Job can be influenced by variety of factors like quality of one’s relationship with their supervisor, quality of physical environment in which they work, degree of fulfillment in their work, etc.
Following the idea of satisfaction in the workplace, even though the city has the ability to implement whichever policy it prefers regardless of the employees’ thoughts that does not imply that the city should take this route. Employees are motivated when management includes them in the decision making process. According to the human relations approach, workers are more motivated and satisfied when there are positive relations between management and workers (Starling, 2011). By simply imposing their will upon the employees
An important aspect to the success of a business, that often goes unnoticed, is the happiness of its employees. If an employee is miserable doing the work they are given, then the willingness of this employee to go the extra mile for the sake of the company is extremely limited. The employees who are miserable with what they do for a living are the ones who care solely about the paycheck at the end of the week rather than the result of their work and its impact on the business. Employees should be happy in the workplace. It should be filled with positive energy because when an employee is positive and motivated, they tend to be more productive. Daniel Sgroi, in the Journal of Labor Economics, writes:
I have chosen to do my research in small business. I want to know what it takes to build a successful business. What are the skills needed to start a new business? What are some of the steps to building a business model and plan? I am working on getting my degree in business. I am a general manager and will be soon help the company expand in opening two new stores in the next few months. This is something that is exciting to be able to expand the brand. This experience will help me when I am ready to own my own business. I know a small business is a big responsibility. As an owner, one has to dedicate lots of time and money to grow the brand and create customer loyalty. I know that simply being in love with an idea or product produced is not enough to survive in the business world. What are the key elements of a successful business? I want to learn more about creating a successful business plan and the logistics it takes to start a small business. I want to learn as much as possible about becoming an entrepreneur.