Question

the subject: Business foundation (MGMT2053)

chapter p2 in the book.

can you answeres these questions as a recherch with includ example ?

2.10 . why will your business be profitable, and what are your growth opportunities ?

2.11. Does any part of your business involve e-business?

NOTE: please answer these question as recherch if you do not know it, do not just guess . because the last time ,i lose my grade. because you gave me wrong answers.

Answer 1

Yes my business can be successful and can grow into a big chain business of its own due to the following reasons:

1) Fast decision making :- As I would be the single head to take decisions,it would be faster and easier as my aims and goals are concise and clear to me.

2) Competition:- The only option in this competitive market with homogeneous products is reducing price by cutting cost. This will be done by making optimum utilization of resources and reduction of wastage.

3) X-factor:- To make a business successful, the most important thing is the X-factor,which makes it more attractive than the competitors. The night clubs and theme parks can do wonders for creating that.

4) Technology:- All the latest technologies to reduce cost and increase efficiency will be used for making services and products better. Constant upgrading is the key to being on top.

5)Customer Service:- The easier way to earn higher and constant profit is to keep existing customers happy,and always keeping in touch and taking feedbacks from them. It is more cheaper and more reliable than getting new customers.

Yes, Electronic-business (E-business) is used in the hotel business in the following way:-

1) it websites for e-business in selection and booking of rooms,and the services required by the customer.

2) Added requests and custom services, such as cars,are made through internet.

3) Customer Relationship Management is done by taking regular feedbacks and complaints through it.

4) Invitations and gift cards are sent by email, and clientele database is maintained through it.

5) Security of the financial data is done through various spam jamming and anti-virus and anti-hacking software.

6) Payments for products and services are also made through e-business, which makes it comfortable and faster for customers.