In today's competitive business climate, achieving long-term business success has become more difficult. For example, changes in technology cause the demise of technology manufacturers, and changes in the supply of oil and the resulting price of gasoline can have an impact on auto companies that focus on gas guzzlers.
For your current employer or any company for which you have knowledge, answer the following questions:
1. What are two factors or forces external to the company that made them successful or was key to them being successful, now or in the past? These are meant to be big-picture forces affecting the overall economy or the industry as a whole (i.e., new regulations, major new competitor, new technology, etc.).
2. What specific events could happen that could cause these two favorable factors to change, and therefore, negatively impact the company?
3. How do you feel the company should respond if there is a negative impact on it?
The two factors that made my company successful was the sudden increase in demand for paints during 2005-2007 and the easy availability of low cost labor.
My company is located in Greater Houston and makes paints that are used in residential and commercial buildings, and in infrastructure projects. The sale of paints and the setting up of our company was greatly aided by the housing boom (a). All the paint that my company made was sold. The second force that made my company successful is that cheap labor is available in abundance. This helps keep the costs low. During this boom my company developed relationships with a large number of painters and painting companies. Paint samples and promotional paint was given to painters on regular basis. The result is that even after the housing boom is over the ...
This posting gives you a step-by-step explanation of long-term business success. The response also contains the sources used.