Билет27.1 What can cause Success or failure in business?

One of the great mysteries of entrepreneurship is why business fail. Some people stars one successful business fail. Some people start one successful business after another while others fail to succeed.

Why some business fail while others succeed? The most part about a failing business is that the entrepreneur is unaware of it happening until it is often too late. It makes sense because if the entrepreneur really knew what he was doing wrong, he might have been able to save the business. Some entrepreneurs live in a land of denial while others are unaware of their mistakes.

3 Reasons for Business Success

Empowering Leadership

The first factor for business success is empowering leadership. This type of business management style has also been called transformational leadership. Transformational leadership is the type of motivational style that draws others in and inspires them to achieve something greater than themselves. However, the employees and staff members do not merely do the work; they also become better people in the process.

Well-Defined Vision

The second factor to business success is a well-defined vision. A corporate vision is a scripted understanding of what a company wants to do and how they want to accomplish it. A well-defined vision allows members of an organization to unite for a common cause with singular aim and all energy focused in one direction.

Relevant Knowledge of the Business Market

A third factor for business success is relevant knowledge of the business market. In order to do anything well, a person or company must do their homework to gain a deep understanding about the factors that are essential for success. These days as the World Wide Web continues to expand, there is no excuse for a would-be entrepreneur to lack knowledge of whatever business they feel led to pursue. Sadly, many businesses are dead out of the gate because they do not take the time to gain a proper perspective on the industry.

10 Causes of Business Failure

1/lack of experience

2/Un-trusted sales representative

3/insufficient capital

4poor inventory management

5/over-investment in fixed assets

6/business's finance mismanagement

7/poor business location

8/poor credit arrangement management

9/unexpected growth

10/engaging in the wrong business niche

The career ladder

Career ladder is a metaphor for job promotion. In business and human resources management, the career ladder typically describes the progression from entry level positions to higher levels of pay, skill, responsibility or authority.

After school you have different possibilities. You can to a university of college or you can start your career ladder. If you want to get a job, you should write an official request for a job in some firm; that means, you should apply for a job.

At first you have a low salary, you will not earn much money, because you are a very junior person in the company – trainee. To become better, you can attend special training courses or the company can give you your in-house training – help and advice how to become better.

If you want to have good prospects, you should work hard; your manager will notice you. If your manager is pleased with your progress, you will soon get a good pay rise. So, you have many future possibilities in the job, you can get a higher position with more money. After a couple of years you may be promoted and after some years more you become the boss of a department. That means that you are in charge of the department and have some employees under you.

After some time you are working in that company you suddenly decide that you want to have more new exciting impressions. So, you want a fresh challenge and career change. You resign, you are leaving you job and start looking for another job. If you want to work abroad, you should find some company which involves a lot of foreign travel.

If you don’t do well in the job, the company my dismiss you, that means, they tell you to leave. So, you become unemployed, you are out of work.

After a several months you may find some part-time job at some company. Such jobs are usually given at restaurants of cafes. If you work hard and enjoy the enterprise, after some time you can take over the restaurant and become a chief of it. Further, you can develop you business and make a net of the restaurants. And then, when you have reached an advanced age, you may retire a rich person.

Here are 3 tips for climbing the career ladder:

1)Start your day early and finish it later than other employees

2)Work efficiently and always do more than you expect

3) Ask your leader to become your mentor or find a mentor in your industry.