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CHARACTERISTICS OF A SUCCESSFUL BUSINESS
Back in the days when we were in school (be it high school,
secondary school or maybe even the
first year at the university) we were thought that all living
things (including man) had certain
characteristics that distinguishes them from the couch, piece of
paper or even the internet. These
characteristics are the typical features or qualities that stand
you out from the non-living things.
So also a successful business has the same!! A successful
business has characteristics (just like
living things) that stands it out from a business that is dead,
about to die or is just surviving.
The characteristics of a successful business is the same as that
attributed to living things except
for one part whereas living things grow old and die, a
successful business grows and does not
die. It continues to live on and gets better, expands as it gets
older.
The characteristics of a successful business are 8 distinct
features that are abbreviated as MR
NIGER S. Below are the 8 characteristics of a successful
business:
1. M movement2. R respiration3. N nutrition4. I irritability5. G
growth6. E excretion7. R reproduction8. S succession
All successful businesses must have the features or qualities
listed above and in abundance too.
Just like man a business is born and when this happens it must
exhibit the qualities of
succession.
Movement All successful businesses must be flexible enough and
should be able tomove (not necessarily it location) but most
definitely from one stage or phase of its
business life to another. Just like the plants move towards
light and food, successful
businesses must determine its source of energy and strength,
growth and nutrition and
move towards it.
Respiration - successful businesses must be able to respire i.e.
breathe. It must be full ofa particular feeling or quality that
will stand it out from the competition at all times.
Your clients or customers) as well as employees and partners
must be charmed by the
quality of your business and services, loyal because they have
that feeling of been a part
of your dream and not just an outsider looking in. Also a
successful business should be
able to let life pass in and out of it, ensuring that at every
point in time it is not choked or
devoid of the very source of why it is existing.
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Nutrition Food is very important to life and so successful
business businesses mustfeed regularly to ensure growth and
survival. For a successful business its main source
of food include investment, its people, raw materials for
bringing out the products for
which a lack of all or any of it at any time will mean that the
business will die from
starvation. There must be constant flow of investment (finance)
to ensure that thebusiness has is able to get the right people and
raw materials.
Irritability there are so many factors that can affect how we do
business or how wegrow in the business we do. They can either be
external factors (government policies,
competition, customer needs, among others) or internal
(management, employees, goals
and vision). These factors can affect businesses in different
ways and successful
businesses must be able to respond to them and develop ways to
work with them,
around them or through them. These characteristic also
determines how we are able to
adapt or react to the changes that can come up at any time
within and from outside our
businesses. Growth well for all of life it is impossible to stay
in one stage forever, therefore all
successful businesses must grow. They must move from the idea
stage to the startup
stage then to the existing and growing business, after this they
should be able to count
growth in years and branches as well as staff strength and
investment. The successful
business is able to grow in a lot of ways and we must determine
what this is for our
businesses.
Excretion waste is a part of life and passing out waste is
important. The successfulbusiness must be able to determine what
the wastes are and get rid of them so that they
dont become toxic to it and in other words be the death of it.
After feeding all nutrientsthat are not digested or useful must be
removed from the system to give room for
growth and expansion. This could be staff that is not pulling
his weight, products that
are not making any profit, investors that are destroying the
vision of the business
whatever the waste is please ensure that it is removed from the
system.
Reproduction be fruitful, multiply and fill the whole earth this
is a command forman and is the same for a successful business. All
successful businesses must be able to
reproduce young ones of its kind and to expand. The ability to
reproduce includes
developing new products, starting a new branch, staring a
franchise, or starting a new
company entirely while the other is still growing. This is
essential or else the businesswould get to a stage and die off.
Succession like man every business needs an heir. The linage of
the business mustcontinue for all eternity otherwise no matter how
much the business has grown if there
is no plan for succession then the business will die with the
owner or creator. If the
father dies without an heir or naming an heir then the name of
that family will either die
