Business Practice

In and Out of Business

Charlotte Dianne Logsdon

BUS105-1102A-04

Abstract

A venture of a small home developing business or an expectation of a quickly developing business will only succeed with the careful steps of planning, organizing, leading, and controlling the daily operation with constant monitoring. An understanding of the commitment and time a successful business will require will enable a positive outlook from present and into the future. Success is not just around the corner, but does not have to be a dead end either. Business is business in one source or the other.

In and Out of Business

Developing a business with manufacturing a product to be sold comes with options to help a business to be successful. The option to manufacture all of the components with final assembly is one option many larger developing companies utilize. Establishing the assembly only operation while the components are purchased from local vendors is often utilized by both smaller business and larger developing companies. The preferred option for this business of interests is outsource of product of the entire manufacturing operation to a very carefully researched offshore company. However, regardless of the option for operation, there are four basic functions of business that must be mastered in order for a successful business. 1. Planning by determining what the company needs. Develop goals and develop a strategy for achieving those goals. To implement this strategy design tactical and operational plans by assessing what consumers want and how to use the product in the way so consumers would be satisfied. This will help the manufacturing of the product to be successful. 2. Consider a manager to organize sources from outside and the resources that will be used to manufacture the product. Often regardless of options to consider for a successful business, competitor sources compete with each other and loose sight of the main focus, the company. A...