Although, it's believed by some people that having an idea that stands out in the market is the way to succeed in the marketplace. However, in my opinion, there are various factors that contribute in making a business profitable. This essay will discuss how factors like teamwork, planning and government policies play a vital role in the growth of companies.
Firstly, having a different product does have its advantages over others. It gives the business a first mover advantage in that field which is still untapped by the rest of the entrepreneurs. For example, Tesla was one of the pioneers when it entered the commercial production of electric cars. In addition, to this other person cannot replicate the product easily as the technological know-how is still not available. Due to this, an idea that is new to the market provides an edge over the competition.
Secondly, there are several factors that are more important that helps a trade to flourish. Particularly, having a hard working and efficient team is very crucial for a company. For instance, a good team can make an average idea work wonder's however the vice-versa is not true. Moreover, planning and supportive government policies can be a defining factor for an enterprise. As a result, other factors play an equally critical role in comparison with a unique product.
To conclude, there are multiple factors that influence any corporate growth which need's to be given equal weightage. Any trade cannot grow with only being dependent on a single factor. There are several parameters like government start up rules, quality of the team and business planning that helps in the expansion and profitability of an enterprise.
Although
, it's believed by
some
people
that having an
idea
that stands out in the market is the way to succeed in the marketplace.
However
, in my opinion, there are various
factors
that contribute in making a business profitable. This essay will discuss how
factors
like teamwork, planning and
government
policies play a vital role in the growth of
companies
.
Firstly
, having a
different
product does have its advantages over others. It gives the business a
first
mover advantage in that field which is
still
untapped by the rest of the entrepreneurs.
For example
, Tesla was one of the pioneers when it entered the commercial production of electric cars.
In addition
, to this other person cannot replicate the product
easily
as the technological know-how is
still
not available. Due to this, an
idea
that is
new to the market provides an edge over the competition.
Secondly
, there are several
factors
that are more
important
that
helps
a trade to flourish.
Particularly
, having a
hard working
and efficient team is
very
crucial for a
company
.
For instance
, a
good
team can
make
an average
idea
work
wonder's
however
the vice-versa is not true.
Moreover
, planning and supportive
government
policies can be a defining
factor
for an enterprise.
As a result
, other
factors
play an
equally
critical role
in comparison
with a unique product.
To conclude
, there are multiple
factors
that influence any corporate growth which need's to be
given
equal weightage. Any trade cannot grow with
only
being dependent on a single
factor
. There are several parameters like
government
start
up
rules
, quality of the team and business planning that
helps
in the expansion and profitability of an enterprise.