It is argued in the statement, that many individuals opt to, money is the only index that can depict success and achievement in running a business. From my perspective, although money is a valuable criterion for the strength of a successful business, there are other ways to measure business success that will be taken into account and play an important role.
It is clear that everyone wants to become successful in life and business, therefore, it seems logical that the priority of any company should be making money to survive in a competitive world. The success of a business can be related to the amount of taxes paid by its owners, as increased income will lead to more tax payments. Also, businesses contribute to society by focusing on making money. If an organization makes a huge amount of profit, it can be incest in essential fields, which will benefit society as a whole, for instance. So, there is no question about money being money one of the indicators of success.
On the other hand, multiple other factors must be taken into consideration while analyzing the success of an industry. Factors such as a strong customer base, good reputation, quality products, and loyal employees and customers are better indicators of the success of a company. Profit may be the number one concern of short term business, but for a business that is supposed to last years or decades, goodwill is more important, undoubtedly.
In conclusion, the first aspect of measure the company's achievement is no doubt the financial stability, but in my opinion, the reputation and goodwill that a company gains are equally important. After all, only a business that earns the loyalty of its employees and customers can stay profitable in the long term.
It
is argued
in the statement, that
many
individuals opt to,
money
is the
only
index that can depict
success
and achievement in running a
business
. From my perspective, although
money
is a valuable criterion for the strength of a successful
business
, there are other ways to measure
business
success
that will
be taken
into account and play an
important
role.
It is
clear
that everyone wants to become successful in life and
business
,
therefore
, it seems logical that the priority of any
company
should be making
money
to survive in a competitive world. The
success
of a
business
can
be related
to the amount of taxes paid by its owners, as increased income will lead to more tax payments.
Also
,
businesses
contribute to society by focusing on making
money
. If an organization
makes
a huge amount of profit, it can be incest in essential fields, which will benefit society as a whole,
for instance
.
So
, there is no question about
money
being
money
one of the indicators of success.
On the other hand
, multiple other factors
must
be taken
into consideration while analyzing the
success
of an industry. Factors such as a strong customer base,
good
reputation, quality products, and loyal employees and customers are better indicators of the
success
of a
company
. Profit may be the number one concern of short term
business
,
but
for a
business
that
is supposed
to last years or decades, goodwill is more
important
,
undoubtedly
.
In conclusion
, the
first
aspect of measure the
company
's achievement is no doubt the financial stability,
but
in my opinion, the reputation and goodwill that a
company
gains are
equally
important
.
After all
,
only
a
business
that earns the loyalty of its employees and customers can stay profitable in the long term.