FACTORS THAT CONTRIBUTE TO THE SUCCESS OF A BUSINESS

Chapter 1

INTRODUCTION

Background of the Study

A brand can be thought of as a name, word, symbol, indication, design or a mix of

these which is intended to identify the products and services of a certain company and to
discern them from those of its competitors. A brand name is an extension of a business. It is
the most fundamental and long lasting assets of a firm.

Statement of the Problem

This study aims to determine the factors that contribute to the success of a business
as assessed by business owners

Specifically, this study seeks answers to the following problem:

1. What are the factors that contribute to the success of a business as assessed by
business owners when grouped as to: age, sex, and monthly income.

2. Is there a significant difference in the factors that contribute to the success of a

business when respondents are grouped according to age, gender & monthly
income.

Hypothesis

There is no significant difference in the factors that contribute to the success of a

business when respondents are grouped according to age, sex, monthly income.

Theoretical Framework

This study is anchored on John Stuart Mill by Development Theory. This theory states
that no social science theories are better understood as models which work, either
to predict or explain, in limited settings, rather than laws of science which hold and
apply universally (Mill, 1873).

Conceptual Framework
Significance of the Study

This study is beneficial to the following:

Marketing Management students

School Administrator

Future Researcher

Scope of the Study

The study is mainly concerned with the determination of the factors that contributes
to the success of a business as assess by several business owners

A descriptive research design, specifically utilizing the survey method.

The dependent variables include the student's personal , social and academic
development. Moreover, the demographic variables of the respondents comprise their age,
gender and year level.

Significance of the study

This study is beneficial to the following:

Consumers
Businessman
Future Researchers

Definition of Terms (alphabetize all terms)

Factor. Conceptually, the term refers to one of the things that affect an event,
decision or situation (Collins, 2019). Operationally, it refers to

Innovative. Conceptually, the term refers to a product, idea, etc. featuring new
methods; advanced and original (Oxford University Press, 2019). Operationally, it refers to
introducing new ideas about the factors that contribute to the success of a business.

Talent. Conceptually, the term refers to natural aptitude or skill. Operationally, it

refers to

Chapter 2

Review of Related Literature

The literature review is

Effects of development components on process measurements

Successful introduction of new products is important to company survival but the failure
rate
of new products may be as high as 50 percent. With the stakes very high and failure
common, it is important to determine the relationship between the components of
successful
new product development and their relationship to the key success factors used to measure
the success of the process.

The concept tested was that a new product development process may be broken down to
its specific components of product performance, speed to market and development cost
and
these components are individually affected by the key success factors of cross-functional
teams, management support, and supportive organizational structure. The current
literature
of product development was reviewed for evidence of these relationships.

Research Design

This is a descriptive research design specifically utilizing a survey method. According

to Polit & Beck (2015), a descriptive method design is one which describes a
phenomenon that is happening in the present time.

Since the present study describes about the factors that affect the success of a new
brand which is a present condition or phenomenon, the researchers believe that a
descriptive research design is appropriate to use.

Locale of the Study

The setting of the study is the department of Bachelor of Science in Business

Administration divided into 2 majors namely : Marketing Management and
Entrepreneurship in Bacolod City College. This is also the department where the
respondents of the study will be drawn.

Respondents

The respondents of the study are the students from BSBA department divided into 2
majors of Bacolod City College who are enrolled during the second semester of
academic year 2018-2019. A stratified random sampling will be used to determine
the sample size.