SOUND ORGANIZATIONAL STRUCTURE IS BASIC ELEMENT OF SUCCESSFUL BUSINESS BECAUSE IT BRINGS BENEFITS TO THE BUSINESS AND MAKES IT PROSPER. DIVISION OF WORK AND GOOD RELATIONSHIP BETWEEN OWNER AND WORKERS ARE GUARANTOR OF SUCCESS FOR THE BUSINESS .
REASONABLE PROFIT;
THE FIRST AND FOREMOST OBJECTIVE OF A BUSINESS IS TO EARN PROFIT. A SUCCESSFUL BUSINESSMAN EARNS REASONABLE PROFIT AFTER RENDERING USEFUL SERVICES OR PROVIDING QUALITY PRODUCTS TO THE PEOPLE.
IDEAL LOCATION;
THE SUCCESS OF BUSINESS IS VERY MUCH DEPENDENT ON THE SITE OR PLACE OF BUSINESS.SO,THE TRADER SHOULD TRY TO ESTABLISH HIS BUSINESS IN THAT AREA WHERE FACTORS OF PRODUCTION ARE EASILY, ABUNDANTLY AND CHEAPLY AVAILABLE.
TRAINED STAFF;
TRAINED STAFF (EMPLOYEES) PLAYS IMPORTANT ROLE IN THE SUCCESS OF BUSINESS.THE TRAINED STAFF SAVES THE BUSINESS FROM LOSS,EVEN IN UNFAVOURABLE CONDITIONS,DUE TO THEIR EXPERIENCE AND BROAD VISION.
MODERN MACHINERY;
THE USE OR ROLE OF MODERN MACHINERY IN THE SUCCESS OF BUSINESS IN QUITE PROMINENT.THE USE OF MACHINERY CAUSE TO INCREASE IN PRODUCTION IMPROVE QUALITY OF PRODUCT AND LESS WASTAGE OF RAW MATERIAL.
REGULAR DEMAND OF BUSINESS PRODUCTS IS THE KEY TO SUCCESSFUL BUSINESS BECAUSE REGULAR SALE DEPENDS ON CORRESPONDING REGULAR DEMAND OF PRODUCT.SO,OWNER MAKES EFFECTIVE ARRANGEMENTS FOR CREATING DEMAND OF HIS PRODUCT.
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