As there are many competitors in the market for any type of company, it is important to take care of both failure as well as success in equal caution.
There are n number of factors that contribute to the disintegration of the company. It consists of the following ideas.
With the existence of competitors in the market, would have a strong pressure on the company to have everything in a hurry to fulfill the needs of their customers without thinking about the future. As these companies achieving short term goals to meet up the requirements of the purchasers whereby better selling of their brand in comparison to the others for which they adopt easy and superfast alternatives which is unhealthy for the growth and progress of the firm.
Hire slowly, fire quickly
- The selection of employers and workers without having a proper recruitment process causing from the sudden and immediate requirement of the staffs would have a negative consequence. Although the firm is trying to give a job opportunity and also to not delay in meeting up the needs of their customers, in the hurry they would not take much seriousness in appointing a deserved candidate.
- Similarly the check on the productivity and efficiency of the employers need to be taken care of on a regular basis. Any kind of casualness regarding the fulfillment of the goals and agendas of the firm in the part of employers need not have to be forgiven if it is conscious by the worker himself.
Quality first, not quantity
- In making so, the quality of the product is compromised to the quantity of the production. In a longer term it would come to have a lesser demand by the customers for the lack of the product selling abundantly.
- Because of the lack of quality product, the purchasers would go for a better quality produce by an other brand in the market, for they would not mind changing the shop as they pay for the quality of the product for their purpose.
The element of risk
Certain kind of risks has to be taken by the company in order to prosper in the market where there is presence of many competitors. The growth, development and progress of the company need to be in an increasing graph even if it is slow. Because, rising and moving upward is a better option to an immediate growth of the brand and a sudden fall down to the ground zero. The proper plan of agenda and goals of the firm need to keep in mind while the company functions as well as comes across any difficult situation.
In the process of growth, one may not find the expected growth within the expected time span. But what has to be followed is the optimistic view and having a challenging mentality to learn from the experience and keep moving forward. Patience is a quality required in the personality of a business man for he is dealing with the community of human beings whose nature and behavior is unpredictable.