What advice does a business manager require to help him or her increase their company's success rate?

Expert Answers
Michael Ugulini eNotes educator| Certified Educator

Advice that is useful to a business manager is advice that gives ideas on ways to improve efficiency while containing costs. To that end, a manager needs advice concerning ways to increase sales through cost-efficient marketing initiatives that provide a significant Return on Investment (ROI).  One example is engaging in social media campaigns on a regular basis to target new customers. This can be accomplished inexpensively - the major outlay of resources being the wages paid for the public relations department to engage in discourse with the enterprise's target market.

Another way to increase the success of a business is to implement quality internal control measures that safeguard corporate assets such as cash, information, and inventory.

Companies need to be engaging employees to be enthusiastic about their company and its initiatives. Satisfied employees who care about their company are great ambassadors for a company. They are the outreach partners to the company's stakeholders and customers who deal with the company as a whole.

A further way that a company can increase their success is to stay on top of new ways of doing things. They can continue to use traditional marketing and other methods that have worked, and continue to provide positive results. However, they must be attuned to, and not shy away from, contemporary, innovative ways of promoting their business, engaging their employees, handling ordering, and inventory management. They must also find new and better ways of handling their customer service function - before the sale, during the selling process, and after the sale.

Success for a company also comes from continually educating their niche market on their various products and services. Customers want important, timely, relevant, clear information that helps them make wise buying decisions. They do not want a hard sell sales message blasted at them. They want to make quality buying decisions based on great information you provide them that offers solutions to their concerns.