Activities For a Successful Business.

[Tariq Shehzad]

I will discuss with you the major activities of a successful Business. These major and main activities are as followings:

1. Management
2. Marketing
3. Finance

1. Management

Management and employees are closely related. This is because, Management coordinates employees to achieve the goal of business. Management is about organizing people to work efficiently and effectively. It is about leading and motivating them to achieve the goal of business. Management is also concerned with acquiring, developing and using resources.

2. Marketing

Marketing is concerned with customers. The focus of all marketing activities is satisfying customers or customers' needs. One of the shortest good definitions of marketing is "Meeting needs profitably". Marketing includes all the activities designed to provide goods and services need by the consumers and customers. Marketers collect information to determine, what customers want?
Using information, they plan and develop the products.

3. Finance

Finance is concern of the owners. Management and marketing also deal with finance But it is the primary responsibility of the owners is to provide financial resources for the business. The owners have to lose if the business fails. Finance refers to all activities concerned with obtaining money and using it effectively. People like accountants, stockbrokers, investment advisors, Or bankers are all part of the financial world.

 

[Augusta]

Well stated. These are the core areas of a business where every business owner needs to focus on. Managing a business needs one to coordinate the staff or the employees effectively to enhance effective communication and make for good flow of work. Financial management should be taken seriously too to avoid the business going bankrupt. The whole essence of a business is profit making so without profit the business will collapse naturally. So good management in all areas is needed in a business. Better still if the business is bouyant enough then getting experts in these fields will be very helpful

 

[sincerem]

When it comes to business, finance is necessary. You need to raise a start up capital to start up your business ideas. And to keep steady cash flow of your business, without finance you can't achieve such. Good management is also instrumental, ensuring that you determine how you manage your funds, expenditures, losses, gains, and cash flow etc. Without good management one can't achieve a successful business initiative. We need to establish the business in a good marketable place to record steady sales and profit too. Create awareness for our business via social medias, websites, youtube channel etc.

 

[Alexandoy]

I agree with the 3 points that you listed. Management is the handling of the operation while finance is taking care of the cash flow. The most important in the business of selling is the marketing because the customers especially the market base is the lifeblood of the business. There is a saying that with no customer then there is no business. In my experience as an entrepreneur in retailing computer supplies the finances was neglected which led to the failure. It was a big mistake. I thought I was good in management and my sales team are also good with their work. After having 4 sales person that's when the cookie started to crumble. I was borrowing money with high interest rate and it came to a point that the profit was only for the interest. Oh well, that is past and I hope that new entrepreneurs will be careful of the cash flow.