BUSINESS ORGANIZATION AND POLICY

Business Organization and Policy

Business Organization and Policy

Introduction

Big firms, for years, content with increased product development or a steady growth of current dealings with an eye on long-standing achievement, are recognizing that such concern is a burden. The smart firms are considerably speeding up their speed of expansion-driven improvement, supplementing domestic creativity by assertively tapping into the wider market of thoughts and trade prospects — a rising administration practice called as a commercial undertaking (Starbuck, Greve, and Hedberg, 1992, pp. 130).

Management is primarily the ability to organize and manage a team, to lead and inspire, to create contacts, and to handle problems that arise. The skills that are required by successful management may be provided by a team of experienced managers, but in a small company is usually the owner himself who must have all these skills (Smith, Thorpe, and Lowe, 1991, pp. 79). He must be able to take risks, to plan, prepare a budget, and proper use of available resources (money, goods, ideas or services) in order to make profits.

Objectives

Making a profit is the main objective of most every business whether small or large scale firm (Cragg and King1993, pp. 52). Before establishing the company, it is essential to carefully identify and select the offerings. Following are examples of the critical questions that should be asked:

The company will provide quality products.

The available funds are sufficient to not depend too much on loans?

Can we cope with demand and supply?

Is there a strong customer for their products?

What do successful managers do for new product pipelines?

Identify a business idea that suits your skills and your abilities.

Find good about it and study the products offered.

Contact the suppliers being considered.

Contact your prospective customers.

Get in touch with those who already have this experience.

Learn about your capital needs.

Calculate your overhead and your initial fixed capital investment.

Ask your bank for any loans.

Plan your actions.

What do successful managers do for new product launch

Plan (budget), systematically monitor and manage projects.

Objectively select employees and encourage (motivate) their work.

Select equipment that is adaptable and can be repaired or serviced locally.

Keep proper books of accounts and statistics (accounts).

Knowing your customers and adapt to their needs and different seasons.

Deliver orders quickly and apologize for the delays that occurred.

Check with counselors for problems that have no clear answers.

Search for new opportunities.

Planning for the expansion of the company.

So it is clear from the above mentioned points that the creating and operating a successful product pipeline is ...