There are many indicators of a successful business. A business that reaps more profits is generally thought to be more successful. However, in my opinion, money is not the only parameter of success.
To analyze the former view, a school of thought supports their arguments because it must be agreed upon that making money is one of the primary motives behind starting any new business. To illustrate, every individual wants to make a good deal of profits out of his investment. Moreover, a company’s annual profits are very important to pull in other investors into that business and thus achieve its expansion and growth. So, there is no question about money being one of the indicators of success. Having said that, money is not the only source of achievement.
However, there are other important signs of a successful business. The first and foremost is employee satisfaction. To exemplify, a business may make huge profit but if its employees are unhappy, it is worthless. Also, workers' unhappiness will eventually lead to the failure of a company. Secondly, earning name and fame is more important than making money. To cite an example, there are many businessmen who earn respect in the society by their business turnovers. The reason being this is because of the trust they have built over years. Last but not least, customer satisfaction is also an important measure of a successful business.
In conclusion, even though profits are an important indicator of success, in my opinion, the reputation and goodwill that a company enjoys are equally if not more important. After all, only a career that earns the loyalty of its employees and customers can stay profitable in the long term.
There are
many
indicators of a
successful
business
. A
business
that reaps more
profits
is
generally
thought
to be more
successful
.
However
, in my opinion,
money
is not the
only
parameter of success.
To analyze the former view, a school of
thought
supports their arguments
because
it
must
be
agreed
upon that making
money
is one of the primary motives behind starting any new
business
. To illustrate, every individual wants to
make
a
good
deal of
profits
out of his investment.
Moreover
, a
company
’s annual
profits
are
very
important
to pull in other investors into that
business
and
thus
achieve its expansion and growth.
So
, there is no question about
money
being one of the indicators of success. Having said that,
money
is not the
only
source of achievement.
However
, there are other
important
signs of a
successful
business
. The
first
and foremost is employee satisfaction. To exemplify, a
business
may
make
huge
profit
but
if its employees are unhappy, it is worthless.
Also
, workers' unhappiness will
eventually
lead to the failure of a
company
.
Secondly
, earning name and fame is more
important
than making
money
. To cite an example, there are
many
businessmen who earn respect in the society by their
business
turnovers. The reason being this is
because
of the trust they have built over years. Last
but
not least, customer satisfaction is
also
an
important
measure of a
successful
business.
In conclusion
,
even though
profits
are an
important
indicator of success, in my opinion, the reputation and goodwill that a
company
enjoys are
equally
if not more
important
.
After all
,
only
a career that earns the loyalty of its employees and customers can stay profitable in the long term.