Business Failures
Failures: Internal factors | Reasons of failure | Explanations | Team morale | Low morale, as not enough payment | Innovation and risk taking | No new innovation and or not willing to take risk will not bring any profit to the company | Stability | Instability, always new staff member, which ruins the team cooperativeness of the work team | Team orientation | No orientation = no goals for the team | Attention to detail | Not enough attentions will lead to the disconnections towards the customers |
Failures: External factors | Reasons of failure | Explanations | Technological | Competitors have advance machinery that produce better cigarettes | Political | Policies make the price of cigarettes more expensive | Social culture | People believe smoking is hazardous, therefore less purchase | Competitive | Competitors acquire cheaper price | Economic | Depression; no money to afford cigarettes |
(Cigarette Company)
(Logical Mathematics)
Interpersonal: Panel Discussion Q&A
“A business without a plan is doomed to fail”
Q: Why do you think this statement is true?
A: I believe this statement is very true because, the set up of a business without a business plan will defiantly encountered many difficulties and disadvantages. For example, the miscalculation of budget and current assets and future expenditure will cause serious consequences such as the reduction of service quality(less budget= product quality will be bad)
Q: How can we solve this problem?
A: Well, it will be always positive to have a plan for any and every action in the business. This is because a plan can give the business owner a clear indication so no confusion will arise during the process of the plan
Q: Are there any possibility for a business to become success without any plans or preparations?
A: I believe not. A business without a clear plan might “survive” the first few months. But later on when the business tries to expand, they
Failures: External factors | Reasons of failure | Explanations | Technological | Competitors have advance machinery that produce better cigarettes | Political | Policies make the price of cigarettes more expensive | Social culture | People believe smoking is hazardous, therefore less purchase | Competitive | Competitors acquire cheaper price | Economic | Depression; no money to afford cigarettes |
(Cigarette Company)
(Logical Mathematics)
Interpersonal: Panel Discussion Q&A
“A business without a plan is doomed to fail”
Q: Why do you think this statement is true?
A: I believe this statement is very true because, the set up of a business without a business plan will defiantly encountered many difficulties and disadvantages. For example, the miscalculation of budget and current assets and future expenditure will cause serious consequences such as the reduction of service quality(less budget= product quality will be bad)
Q: How can we solve this problem?
A: Well, it will be always positive to have a plan for any and every action in the business. This is because a plan can give the business owner a clear indication so no confusion will arise during the process of the plan
Q: Are there any possibility for a business to become success without any plans or preparations?
A: I believe not. A business without a clear plan might “survive” the first few months. But later on when the business tries to expand, they