The world of business is a dog eat dog one, where brands are trying to run their competitors to bankruptcy, and business partners are trying to cheat others. One thing that you should always know is that you should expect the unexpected when in the business realm.
The Possibility Of An Unexpected Sudden "Divorce" In Partnership.
At one time, you and your partners were happy. The business idea was formed, and all of you were optimistic that everything would go as planned. It is important to bear in mind that no matter how long you dine and wine with your business partner, there is a great chance that wealth can separate you. That business partnership can come crashing because one or two of your partners decided that the wealth should be for them only.
This can be devastating, especially when you do not expect it. Sometimes, the symptoms that your business partnership was about to be annihilated may have raised their heads, but the fact that you have close ties with your business...
Business partnering is a very potent tool for business development. Basically, every business, from small companies to large enterprises, it is a necessary tool which is part of any successful business plan. Business partnering is very important as they provide certain benefits for both parties. One of these benefits is the reduction of general costs, as partners ensure to pool their resources together in order to carry out business projects. It also increases competitive advantage, as it provides better opportunities for investment, occupation, and revenue to the business. Business expansion can also be achieved through partnership, as the pooling of resources, provides financial wherewithal for capital-intensive projects.
It is important to know that forming partnerships is not easy, and not all partnerships work out at the end of the day. This makes it very critical for you to thoroughly investigate your potential partner during the discovery period, to be sure...
When a company starts lacking competitive innovation, it tends to focus exclusively on exploitation. It is the sign of possible eventual failure unless it standup again with new innovation.
An overwhelming number of companies wasted enormous capital buying corporate innovation services without compelling market results.
It is also a reason why many companies become conservative with investment in innovation and turn into cutting a variety of costs of a business to keep profit margin.
Every business model has its own lifecycle and it becomes shorter and shorter. When a new business model, a product launches in the market, the sensitive competitors may become "Good" buyers at the early stage and study the weakness of the product, loopholes of its service, and start to create an alternative. Then soon, articles from different resources start to spread over the internet bout its replacement.
“If an egg is broken by an outside force, life ends. If broken by an inside...
The standard process for going on a business trip, or the preparation thereof, be it to a nearby state or halfway across the world, often encompasses a lot of activities to be taken into consideration. This activities normally range from internet-based research on the weather for the day of travel, to hotel reservations and sightseeing activities for in case there's spare time. However, most people often neglect to take into account their security or the need for security services, that is, their safety either on the trip, on arrival or during their stay at the desired destination. This neglect tends to have more effect on persons on business travels, that is persons who go on trips as principal employees or representatives of corporations and organizations alike, to perform a business related activity. This is so, as a business corporation or organization can at most times be held liable if something unpleasant happens to the said employee on business travel.
Business Longevity can be defined as the sustained existence of companies even after the demise of the founder. Business enterprise longevity is the continuity of the firm beyond the career span of its founder.
Ever wondered why some corporations seem to last lifetimes while others appear to struggle and disappear within a relatively short time? What are the keys to ensuring a business survives and is successful over time?
Every business is unique as such, there is no single way of ensuring the longevity of a business. However, we will look at some reasons businesses fail and how to ensure entrepreneurial success and business longevity.
Reasons some businesses fail
Lack of planning.
Many businesses fail because of lacking short-term and long-term goals or targets. They fail to create a concise plan detailing where their business should be in a few months or years.
Ignoring customer’s preferences.
Businesses that fail do not pay any heed to what customers prefer....