A smart business must prove its worth through its affordability; this eases its burden during the formation process; growth in revenue should therefore be directed towards the expansion plans. Businesses should as well maintain a good reputation thus attracting attention from even its competitors. By maintaining a good reputation a company can gain trust from its customers. These organizations can only be as successful as the number of customers it’s able to attract and retain (Chapman & Sheehy, 2002).
It’s one thing to attract customers but another to maintain them, thus services being offered must be valuable to meet customer needs, without which all its effort might come to a stall due to the mobility in customer needs. A smart business is dynamic in nature, this is due to the changing world of technology thus new forms of thinking ought to be developed and embraced least a business turns obsolete in the long run. It is prudent for businesses to learn from success stories in its line of business; this may result to minimizing chances of reinventing the wheel as this may bring about wastage in terms of both time and resources.
Why business should respond to change The human body portrays an insight about the changing environment, this is visible through the creation of new cells as the old ones die. Change is like rest but may as well become obsolete through time. In business new modes of thinking must be highly emphasized if a business is to realize major gains (Leibert, 2004). Organizations ought to embrace change, in as much as this may be costly in a short time tremendous gains might be realized through the passage of time.
Adaptive measures must be put in place to ensure flexibility to due to the changing environment. New business network approach This approach assumes a view that there exist networks within which businesses thrive; the main actors in these sectors are connected by business relations. Businesses thus inters into the international scene through the interconnection of this actors within different countries. Internationalization is achieved through the establishment of this business networks in foreign lands globally to take advantage of they new markets.
It should be noted that Actors though directly or indirectly connected to each other due to their line of business have positions; this can be used to gauge their worth in business. The role of a Networked Business Operating System A networked business extends its management, control as well as coordination capabilities over a large market. This eliminates physical barriers and the need to higher extra manpower in the business chain, thus reducing gradually on the cost of running the business.
This ensures corporation among departments as they end ever to propel their optimal goal (Will, 1996). Strategic businesses require strategic decision making, while making this decisions, this systems do offer models showing exactly what may happen incase a certain decision is made, this explains why most business should consider adapting their usage. References Applegate, J 2002. 201 Great Ideas for Your Small Business. New York: Bloomberg press. Chapman, D. & Sheehy, B 2002.
Smart business: making sure investments in information technology hit the mark every time. Newnan: Executive Excellence Publisher. Leibert, J 2004. Smart Business. Oxford: Capstone publisher. Rubino, J 2006. The Ultimate guide to network marketing: 37 Top network marketing income-earners share their most preciously guarded secrets to building extreme wealth. New Jersey: John Wiley & Sons, Inc. Will, M 1996. Multi-level marketing: the definitive guide to America’s top MLM companies. Summit publisher Group.