Keys to success for companies

Introduction I. Build an effective business strategy II. Human resources management III. Product quality IV. Applying science and technology V. Loyal customers Conclusion The role of business strategy for companies Create long – term derection and operating base for the business Create a basic for businesses to actively develop Create an operting trajectory for the business

Keys to success for companies

GVHD: Nguyễn Thị Xuân Phương

■ Introduction

■ I Build an effective business strategy

■ II Human resources management

■ III Product quality

■ IV Applying science and technology

■ V Loyal customers

■ Conclusion

I Build an effective business strategy

1 The importance of business strategy

What is business strategy?

The role of business strategy for companies

to actively develop

■ Create an operting trajectory for the business

I Build an effective business strategy

1 The importance of business strategy

I Build an effective business strategy

2 Some successful business stategies of companies

Vinamilk's business strategy is

to invest in products and expand production scale

A low pricing strategy, flexibility

in product promotion, and a friendly and reputable customer

care policy

II HUMAN RESOURCE MANAGEMENT

1 The role of human resource management

 Makes the most of human potential

 Improves competitiveness

 Implements and executes business strategy

 Creatures a culture, a healthy working atmosphere

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2 Keys to success for companies

�

 Good leaders lives the company culture

 Good leaders make employees feel valued

Build a company culture

 A positive staff culture influence on the profitability of the company

 Identify and capitalize on new, innovative ideas from its workforce

 Management is more likely to find out about problems and failures quickly, and take action where necessary

GOOGLE

APPLE

III Product quality

Quality products are those products that are offered by the sellers, which have features and characteristics that are

good

Why product quality is the key to

success for the companies ?

a Product quality is Critical to Satisfied Customers

b Establish Your Reputation

c Manage Costs Effectively

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a Quality Is Critical To Satisfied Customers

• If you sell high-quality products that meet your

customer’s expectations, they will have no reason

to go elsewhere

• Customers will pay more for a product or service that

they think is made well

• If somebody buys a damaged item, they will most

likely ask for a refund and return the item It is unlikely that they will return to your business in the future

b Establish Your Reputation

• A good-quality product helps to build a strong brand

image, which can allow a business to grow its market share

• If they find that your brand has positive reviews, they

are more likely to buy from you, thus boosting your sales

• If customers buy a damaged item, they’ll take to the

internet and leave a bad review about your company, warning other people not to shop with you

c Manage Costs Effectively

• Poor quality increases costs If you do not have an

effective quality-control system in place, you may incur the cost of analyzing nonconforming goods to determine the causes and retesting products after reworking them

• If defective products reach customers, you will have

to pay for returns and replacements

IV Science and Technology

Why Science and Technology is the key to success for companies?

Building a security

system

Accelerating the

process of formation and restructuring of enterprises

Increasing competitiveness

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INCREASING COMPETITIVENESS

ACCELERATING THE PROCESS OF FORMATION AND RESTRUCTURING

OF ENTERPRISES

 Forming new division

 Cutting down old division Cost-Effectiveness and Easier to control

BUILDING A SECURITY SYSTEM

Science and Technology can be used to protect:

 Financial data

 Confidential operating decisions

 Proprietary information

V Loyal customers

Loyal customers are customers who support, trust, regularly use and willing to pay a higher cost to use your company’s products and

services

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Why loyal customers are the key to

success for the company?

a) Loyal customers make it easier to increase

sales and cross-sell, increase profits for the

company

 For new customers, they have many doubts about your

company They need time to verify what you promote

 Existing and old customers are the ones who trust your

company

 Existing customers always be open, listen to you share

about your’s products

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b) Loyal customers will become

ambassadors for your company's brand.

 Loyal customers will be the face of your company

 They will share their positive experiences and

recommend your brand with their relatives, friends and everyone around.

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c) Loyal customers provide honest and quality feedback about your company's products

 Loyal customers have the most honest and quality

feedback, both positive and negative

 Thanks to this information, the company has made

timely improvements to the existing limitations, promoted and enhanced the advantages

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CONCLUSION

The success of the company depends on many factors

The road towards finding the keys to business

success can be long and complicated

Make focus on what you need to do, learn from your failures, stay consistent in your endeavors so you may succeed