Thursday, 31 March 2011

Factors Needed to Run a Company Successfully

What factors are important when it comes to running a company successfully?  There are a number of things which have to be taken in to account - otherwise the company could fail.

Finance:
Staff Salary - Regular payments from an employer to an employee

Company Profit - Profit is the difference between the income of the company and all its costs/expenses. This is usually measured over a period of time - normally a year.


Company Turnover – Is the total running costs of that company for that year including sales.

Buy Software/Computer Stock – Purchasing software and computer is very important as it must work properly and be exactly what the company needs to run and make a profit.

Management:
Employability – Management of employees is very important as it vital to make sure you employ responsible workers to represent the company. Plus you have to manage your staff well in order to keep them happy and productive.

Customer Service – Good management of customers with problems is required so that customers are happy with the way the organisation is run. In this way they will come back in the future and spend more money.

Advertisement of company – It is the management's responsibility to maintain the company's status and profile in the marketplace by making sure posters, leaflets and all types of advertising documents about the company are disseminated. Despite the fact it is the management’s responsibility to ensure good advertisement of the company, the job of advertisement is usually given to the employees in the marketing department with ultimate responsibility lying with the head of that department.

Company Database – Databases are needed for companies, for example, to keep their employee’s details for many reasons including for emergencies.  There are also many other reasons for running a fully integrated database system.

Company Finances – A database(or spreadsheet) is very important and is required so that the company can review and keep note of their finances. Company turnover and profit is usually discovered using the computer database. It can also be used to forecast things such as future profits.
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