Is starting a business about break-even

Is starting a business about break-even

While many would think that starting a business is about break-even, there is so much

that goes into a business to ensure it lasts beyond seasons and various economic conditions. It is

not enough to start a business and make a profit; the business should sustain in the long term.

Business sustainability, according to Rouse (2014), involves coordinating and managing not only

the resources of the organization but rather the environmental, financial, social concerns, and

demand, ensuring responsible and ethical manipulation of the resources to ensure ongoing

success. This project, therefore, looks into providing various measures and endeavors business,

in 2018, can incorporate to ensure sustainability beyond economic conditions, globalization, and

industrialization, among other factors.

For one, businesses need to create and define their goal clearly (Lawson, 2017). It is not

enough to start a business to make profits, but rather a SMART road map is necessary. The goal

should be the core of the company as it creates the vision, mission, and culture of the business to

ensure alignment to a successful course.

Moreover, the goal should be well understood by not only the employees of the company

but any other stakeholder involved in the organization (Lawson, 2017). The people involved in

an organization, from top management to the janitor, supplier, and even end-consumer, are the

people responsible for bringing to reality the vision of the company. Therefore should be aware

of what the goal is and what is expected of them (Polman and Bhattacharya, 2016).

Effective resource allocation and manipulation are also vital to sustaining a business

(Lawson, 2017). Resources in an organization do not only include finances and raw materials.

Suppliers, employers, time, and technology. These resources to ensure success require a

combined integration to create a quality end product. Different business needs different types of

resources; for example, a company in the food industry requires a chef while a corporation in the

cruise industry requires a captain. Therefore, businesses, before starting and during the running

of their business, should gather enough accurate information on the resource requirement and

manipulation in their organization to allocate the necessary goods correctly. Consolation with

experts and project managers is vital in the success.

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MEANS OF LEADING A SUSTAINABLE BUSINESS IN 2018

A sustainable supply chain is crucial in ensuring products are made within the schedule

and of good quality (Bumberová & Milichovský, 2019). While some ignore this factor in the

name of their many suppliers in their industry, a consistent, sustainable chain in supply is crucial.

Suppliers do not only ensure your company has raw material, rather, finding the ‘perfect.’

supplier entails getting quality raw materials that a provided on time and flexible payment

schedule, which comes quite handy in economic hardships. An audit of the supply chain is

therefore crucial as it helps forge a relationship with the right suppliers seeing as it covers issues

of environmental, ethical, and transportation factors. These factors are especially important with

corporations forging the ‘green reputation’ where consumers are associated with a corporation

that engages in environmentally friendly production processes. Therefore, engaging with

suppliers with unethical, polluting habits destroys the image of the company.

Human resource management is vital in sustaining a business (Bumberová &

Milichovský, 2019). Employees are the backbone of the company. They create and produce

products sold to consumers, thus making them essential resources of an organization, according

to Polman and Bhattacharya (2016). The value of employees builds on the strengths of the

company, reduces the weakness, looks out for, and reduces the threats within and outside the

organization, and takes advantage of opportunities in the respective industries. In today’s

dynamic and competitive business environment, arguments have risen to support that customer

satisfaction, which is the primary goal of most companies, can only be achieved after employee

satisfaction. Drawing reference to Gupta (2013), contented and motivated employees make

bigger and more significant contributions toward the success of a company. Now while

remuneration is crucial, employee engagement is crucial. Employees need to feel their work, and

contributions to the organization are understood. Companies with a flexible and comfortable

employee-employer relationship, report lower turnover rates annually and higher profits in a

progressive manner. Firms, therefore, need to engage employees in the organization. This

involves aligning corporate and personal values to forge alliance and support from employees,

creating organizational culture employees can identify with, proper recruit, and selection to hire

people that believe in the vision of the organization, among other measures.

There is always room for improvement. Corporations should lookout for ways to improve

their products, processes, and firms in general. As sustainability is an ongoing process, so is the

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MEANS OF LEADING A SUSTAINABLE BUSINESS IN 2018

company adapting to the changing environment to ensure sustainability. Creating and

maintaining a brand and growing loyal customers that are building factors in ensuring a business

grows and continues in the long term is crucial. With consumer preferences, tastes, values, and

beliefs changing, corporations have to adapt and adjust to ensure they remain competitive.

Sometimes challenging the market with new consumptions could be the niche that takes an

organization to the next level. The improvement also requires collaboration and innovation. Like

the body functions better together, so do corporations. Outsourcing is a measure than business

should put into their culture (Bumberová & Milichovský, 2019). The act not only ensures

organizations have quality employees but at a low cost. In summation, corporations should aim

beyond the fence line, test new products, new markets, and new market opportunities so long as

they build a brand and grow the market in contrast to rival companies.

Businesses should be started with the aim of sustaining not only the consumers but the

involved parties of the organization in the long run. Business sustainability involves managing

resources and other factors in a manner that doesn’t deplete the said factors to ensure the

business last in the long term. Measures of human capital engagement and management are

essential, seeing as human capital is the core of companies’ success. Moreover, a clear goal is

crucial, and it maps out where the corporation is headed and wishes to be. Other factors include

creating and maintain a sustainable supply chain to ensure on-time production and quality goods.

Resources should also be allocated accordingly. Corporations should also innovate, collaborate,

the challenge, adapt, and adjust to ensure they grow and maintain their market.