Title: Factors that contribute to the success of a business

A business can be defined as an organization or enterprising entity engaged in

commercials, industrials, or professional activities, that are led by the highest authority in the
company, Chief Executive Officer (CEO) or known as a leader (Investopedia: Business-What
is Business). A business or a company that wants to achieve success needs to apply great
leadership styles in leaders, develop a great team in the company, communicate effectively
among employees and plan great marketing strategies and provide good customer services.

Firstly, the most important factor to ensure a business to be successful is to have an

effective leader with great leadership styles when handling a company or running a business.
An entrepreneur or a businessman must apply many types of leadership styles in themselves,
so that they can lead the business to achieve success in every situation that they may face in
certain period of time. In the meantime, there are various types of leadership styles that an
entrepreneur or a businessman can apply in any situation in their company. For instance, a
leader must apply democratic leadership style, charismatic leadership style, strategic
leadership style, people-oriented leadership style, achievement-oriented leadership style, and
other leadership styles. Therefore, these leadership styles are crucial to make sure the leader
can drive the business towards success.

Secondly, an effective communication in the company is very crucial especially

among the employees. This is because, in the company or an organization, the
communication is critical as it has its own importance such as avoiding confusion, helps build
a positive culture among other employees and it also creates accountability. On the other
hand, when the communication in a company went well, it will help in many ways such as
helps in the employees’ job performance, and it will ensure the message that has been sent
received accurately by the other employees. Also, an effective communication between the
employees in the company can strengthen their relationships and fostering a cooperative
attitude among them. This indirectly will create a harmonious situation or environment in the
workplace.

Other than that, a successful business started from having great members in a team in
the company as they are the backbone for the company. A great team is very important in
every organization as it is the catalyst to a success and this great team is formed when there
are many employees working together with each of them have different specialties and
abilities. In addition, when employees in certain company works in a positive and
encouraging environment, it will increase morality, makes them free from stress and this will
lead to a satisfaction and makes them more productive in the company. Thus, a productive
team that plays a huge role as a backbone for the company is the catalyst to a success of a
business or a company.

Lastly, great marketing strategies and good customer services are very important as
both play a huge role in making the business to be successful. A strategic marketing should
be focusing on what the consumer wants and needs, need to identify the customers’ demands,
responding to consumers with any product development, creating campaigns among customer
and other effective strategies. When running a business, customer satisfaction is the most
important thing and it should be the top priority because customer helps a lot in business
growth. When a problem occurs, the customer service can help the customer to overcome the
problem and this indirectly will increase the customer satisfaction towards the business and
helps the business to grow wider.

To summarize, there are several important factors that can lead a business or company
to achieve success such as having great leadership styles, having a great team,
communicating effectively in company and great marketing strategies and good customer
services. So, it is very crucial for a business to have those important factors as the businesses
nowadays are quite challenging.
REFERENCES:

Adam Hayes. (4th July 2020). Investopedia: Business-What is Business. Retrieved

from https://www.investopedia.com/terms/b/business.asp

Alice Calin. (1st August 2018). Hubgets: Why Teamwork Matters to Your Business
Success. Retrieved from https://www.hubgets.com/blog/teamwork-matters-business-
success/#:~:text=Teamwork%20frames%20the%20company%20culture&text=By
%20supporting%20each%20other%2C%20team,the%20success%20of%20your%20company

HR Future. (20th February 2020). Business Success. Retrieved from

https://www.hrfuture.net/strategy/leadership/5-most-effective-leadership-styles-for-business-
success/

Patrick Gleeson, Ph. D. (6th February 2019). Chron: The Importance of Marketing for
the Success of a Business. Retrieved from https://smallbusiness.chron.com/importance-
marketing-success-business-589.html