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How does a business measure its success?

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Introduction

How does a business measure its success? A business measures its success to see if they have achieved the aims that they set for themselves and to see what objectives they are going to set for themselves for the future. They may want to see that they are making progress and that they heading towards the aims and objectives that they have set for themselves. They may also check that they do not have any problems and if they do have any problems then they will be able to sort it out. Also they would want to look for things that they wish to improve with the way that they are running it. For example they may see by looking at it that they may want to improve the way that they dispose of waste and they will be able to look and evaluate this when they measure the ...read more.

Middle

For example they may have problems relating to the amount of staff turnover. They may see that is costing them huge amounts of money in recruiting staff and this may be a problem. They then can identify this and work on different ways of improving this through ways such as incentives to stay such as better conditions at work and free soup at lunchtime to help reduce staff turnover and therefore increase efficiency A lot of the measurements that they will take will be linked to the targets that they have set for themselves before. They will evaluate their success and productivity by looking at certain things as a measure of how successful they are doing. For example they may look at the turnover of staff to see if their amount of staff turnover is a high amount or a low amount. ...read more.

Conclusion

They may want to establish a brand image and see if they have to see if they can compete with their rivals in the health food market. They may wish to check to see if they are reaching the customers that they are trying to reach and if the advertising that they are using is successful. They may do this by asking people questionnaires to see how they responded to their advertising and if they were successful in the way that they put the message across and if it appealed to them. They could ask them if they considered buying the product after seeing advertisements and if they say that they would then they know that the campaign was successful, as it has made people buy the item for consumption. ...read more.

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