Preview

ayush

Satisfactory Essays
Open Document
Open Document
1236 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
ayush
ASSIGMENT-1
CHALLENGES AND LIMITATIONS TO MODERN BUSINESS ENTERPENEUR
Growing businesses face a range of challenges. As a business grows, different problems and opportunities demand different solutions - what worked a year ago might now be not the best approach. All too often, avoidable mistakes turn what could have been a great business into an also-ran. Recognizing and overcoming the common pitfalls associated with growth is essential if your business is to continue to grow and thrive. Crucially, you need to ensure that the steps you take today don't themselves create additional problems for the future. Effective leadership will help you make the most of the opportunities, creating sustainable growth for the future.

CHALLENGES AND LIMITATIONS TO MODERN BUSINESS ENTERPENEUR

KEEPING UP WITH THE MARKET
Market research isn't something you do as a one-off when you launch your business. Business conditions change continually, so your market research should be continuous as well. Otherwise you run the risk of making business decisions based on out-of-date information, which can lead to business failure.

CASH FLOW AND FINANCIAL MANAGEMENT
Good cash flow control is important for any business. For a growing business, it's crucial - cash constraints can be the biggest factor limiting growth and overtrading can be fatal. Making the best use of your finances should be a key element in business planning and assessing new opportunities. With limited resources, you may need to pass up promising opportunities if pursuing them would mean starving your core business of essential funding. Cash is King! We’ve all heard this maxim and it is more true today than ever before. A healthy profit may look nice on your financial statements, but if capital expenditures or receivable collections are draining your cash, you won’t be able to stay in business for long.

PROBLEM SOLVING
New businesses often run in perpetual crisis mode. Every day brings new challenges that

You May Also Find These Documents Helpful

  • Powerful Essays

    HartleyC M2 A2

    • 1784 Words
    • 6 Pages

    Market research is fundamental in setting up or running an organization. The explanation for this is point of fact, that is, if an organization does not have research done on the targeted market, and has sagacity on the needs, needs and inclination of the expected target market for the products or administrations that it is putting forth, then, the business wander is likely not to be effective and will slump or fall flat.…

    • 1784 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    Acc421

    • 899 Words
    • 4 Pages

    Market research allows for the studying of marketing changes which an organization may need to accomplish. Market research is a process of gathering, recording, and analyzing information about the market, rivals, and clients. The use of marketing can help create a long term business plan, which can help with the introduction of new products/services as well as location and income level of the area. The understanding of a market research for Kudler Fine Foods will help promote any special promotions which they may run, as well as helping to reach out to the public who may be interested.…

    • 899 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Cash flow problems are responsible for causing over 70% of businesses to fail within their first year. As a result, it is the main reason for business failure. The main problem of the cash flow is that the company might have too many debtors, too many creditors or they might over invest. The result of these is that the company will lose money and face bankrupt.…

    • 1047 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Fly-By-Night Case

    • 671 Words
    • 2 Pages

    Lastly, when looking at the cash flows the most noticeable is the negative change in cash flow for operations. To be able to keep your liquidity high or ability to pay current expenses, you…

    • 671 Words
    • 2 Pages
    Good Essays
  • Good Essays

    P3 Unit 3

    • 875 Words
    • 4 Pages

    Market research: Is a big part of marketing, market research is when the company asks their customers or new customers to find out more about in the market in which they currently operate in or a market they wish to operate in. Companies may do this so they can reduce risk when bringing out new products.…

    • 875 Words
    • 4 Pages
    Good Essays
  • Good Essays

    P3 Business Unit 3

    • 759 Words
    • 4 Pages

    Companies conduct market research so that they are up to date and are aware of customer, market and competitors insights. Knowing who your market is and what they want also means that you understand external influences that can affect success. The purpose of marketing research is to get a clear understanding of the markets, and being able to identify the changes in the market, also you would be able to improve your understanding of customers’ needs. Many companies are able to forecast market trends by analysing marketing research and this provides a basis when making marketing decisions. For example Asda would look at the sales from Christmas the previous year when ordering the stock for the current year, this would ensure that they don’t run out of food, and they would have a rough idea of what to have in stock and what to not have.…

    • 759 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Cakelove and Love Cafe

    • 550 Words
    • 3 Pages

    Growth is good, but rapid growth can sometimes overwhelm the ill-prepared business owner, so it is very important to create a healthy cash flow.…

    • 550 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Market research is really important before a business begins production. This is so that time, money and effort are not wasted on products etc., which the people might not buy.…

    • 1046 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    Marketing research is best defined as, “a way of investigating and answering questions about human behavior,” (Bont, Et. Al, 2007). Essentially, marketing research is a tool that helps businesses stay ahead of the trends and maintain a competitive edge in the constantly changing global market. Companies that make marketing research a central part of their business plan will see the business grow and develop to not just achieve their business goals, but exceed them. Robert Duboff puts it into perspective in a way that anyone can understand in terms of why marketing research is a valuable tool, “Marketing research can be freed to do what it can do well: provide information about the past and present to enable insights that can help decision makers use their judgment,” (The Market Research Magic is Gone, 2011). Marketing research is a key component in any business because it helps the organization identify how they will gather, analyze, and interpret information about a product or service they offer in the market along with the past, present , and future potential customers for that specific product or service offering. It also provides information on the characteristics, spending habits, and location of the businesses target market, the industry, and competition they will face in the particular market. Marketing research will also identify the specific strategies with regard to marketing segmentation and product differentiation that is best suited for the organization in order to achieve their goals and expand their product offerings. Entrepreneur best describes the benefit of marketing research, “It allows business owners to determine the feasibility of a business before committing substantial resources to the venture,” (Market Research, 2014).…

    • 2048 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    Unit 10 P2

    • 674 Words
    • 3 Pages

    Definition: Developing and introducing new products/services is an essential activity for all organizations. Although very few innovations are the direct result of market research, market research does play a role in determining the need for most new products or services. More specifically, market research provides valuable insights into the unmet needs and a thorough understanding of the marketplace in which the product or service would be offered. The most effective types of market research at this stage are needs-based assessments and concept testing. Here are key that should be addressed in any development/introduction stage research.…

    • 674 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    P4 Unit 4 Business

    • 673 Words
    • 3 Pages

    The cash flow of the business indicates the health the business. Since the operation of the business is based on services, the risks of having stocks of material are non-existent. Additionally, if a customer will not pay for the…

    • 673 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    As volume and operating profits strengthen, managements free up outlays for property upgrades and expansion, as well as for product and service development. It 's important for companies not to take on too much leverage, which can be detrimental when the cycle turns. Investors should note whether a company 's annual cash flow sufficiently covers spending plans and dividends paid, if any, to stockholders. Also, there should be enough cash available to meet upcoming debt maturities.…

    • 1162 Words
    • 5 Pages
    Powerful Essays
  • Powerful Essays

    The purpose of any market research project is to achieve an increased understanding of the subject matter. With markets throughout the world becoming…

    • 3039 Words
    • 13 Pages
    Powerful Essays
  • Powerful Essays

    The method of market research and type of advice obtaining need to be determined based on the availability of fund and the actual business case. It is recommended that business executives finding the most suitable way to collect information and advices after knowing the ‘pros and cons’ of each method.…

    • 2550 Words
    • 11 Pages
    Powerful Essays
  • Good Essays

    Electronic fund transfers (EFT); funds are transfer from the customer account to ours electronically. At the time of enrollment the customer completes a form with all their bank information and the date the money will be debited from their account.…

    • 680 Words
    • 3 Pages
    Good Essays