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Management of the Business Environment - Literature review Example

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This literature review is about a plastic bottle company, established in the UK, that has made remarkable progress over a relatively short span due to various attributes and positive business processes. This has been as a result of proper management schemes and strategy in all sectors…
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Download file to see previous pages Further, there will be an analysis of the business environment and the way in which it has been managed by relevant stakeholders. Minutes to the previous meeting will also be provided in the appendix section. It will be made clear in the subsequent sections on how much efforts have been put to enable the stability of the company among other plastic making companies in the UK which give stiff competition. Review of Business Attributes Mutual Stance and Inner Network Cultivation Ensuring an inner network in an attempt to drive business success is a necessity. The organization must identify and build beneficial relations with its peers to have a leveled reasoning ground. Besides, mentors and advisers must be chosen by the company. Making proper choices, when it comes to such issues, is an attribute that the company has adhered to and must maintain or rather improve over time. Appreciating their value as well as seeking direction where necessary from such partners is what keeps the company going, considering that it is a new entry into the markets. Another valuable asset that the company recognizes is the employee. Employees must be given an upper hand when it comes to company internal affairs and decision-making. It is the employees who keep the company running hence a mutual stance must be given in their case. It must be known that employees take part in ensuring the success of the company. Considering their plight when it comes to flexibility in the working conditions must be ensured. Believing in them, providing favorable working conditions as well as motivation are core considerations made by the company as an attribute to seeing the success of the company. Customer Centric The company has maintained an unwavering commitment to customer satisfaction. This has been facilitated by the understanding of customer expectations and requirements. As a result, the company has ensured customer loyalty and gained customers at a relatively fast rate. Schwalbe (2010) argues that the commitment shown to the customer has been facilitated by having an insight into the customer’s world and perception of various products. The company has also shifted focus from the profit targets to customer satisfaction in order to maintain customer loyalty. This has been seen through the production of high-quality products as well as a range of products, which covers a range of customers with varied financial abilities. Having all the customers put into consideration proves to be an advantage in maintaining customer loyalty. Humble Honesty This is another attribute of the company that has seen it move forward. The company has always been in a position to understand its strengths and weaknesses. The company has also been honest about itself, operational modes, and all the vials that may be sought for by interested parties. This honesty ensures that there is trust developed hence giving the company a good name among the plastic making companies in the UK. The company has often asked for assistance on weak areas as pointed out by the advisors and focused on its strengths thereby improving its overall performance within a short period. The team of owners has an understanding of themselves and the business hence fixing the weakness areas has not been so much an issue. The areas of strength have also been considered fully hence a recorded improvement in the company. Adaptability The company has integrated and adapted the underlying environment thus positioning itself strongly in various capacities. ...Download file to see next pagesRead More
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