INNOVATION MEANS TO DISCOVER NEW MEANS FOR IMPROVING THE GOODS AND SERVICES. IN MODERN ERA THERE IS A TOUGH COMPETITION IN THE MARKET. THEREFORE, A BUSINESSMAN HAS TO INTRODUCE NEW GOODS ACCORDING TO THE LATEST FASHION AND DESIGN FOR THE SUCCESS OF BUSINESS.
USE OF TECHNOLOGY;
USE OF TECHNOLOGY IS ANOTHER IMPORTANT ELEMENT
OF SUCCESSFUL BUSINESS. A BUSINESSMAN USES TECHNOLOGY AND MODERN METHODS OF PRODUCTION ACCORDING TO THE NATURE OF BUSINESS. THIS
STRATEGY HELPS TO INCREASE THE PRODUCTION AND PROFIT MARGIN.
QUALITY PRODUCTION;
THE OWNER OF SUCCESSFUL BUSINESS ALWAYS TRIES TO IMPROVE THE QUALITY OF PRODUCT. QUALITY PRODUCTS NOT ONLY STRENGTHEN THE GOODWILL OF BUSINESS BUT ALSO INCREASE THE PROFIT.
INCREASE IN SALE;
SALE OF GOODS OR SERVICES IS AN IMPORTANT FUNCTION
OF BUSINESS AND IT CANNOT BE FLOURISHED WITHOUT SALE. SO, THE MARKETING DEPARTMENT SHOULD BE VERY EFFECTIVE AND EFFICIENT IN SUCCESSFUL BUSINESS. IN THIS REGARD , THE ADVERTISEMENT AND AGENTS CAN PLAY VITAL ROLE.
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