Question

Draw upon your prior knowledge of business and then choose which element of business (management, operations, finance, marketing, ethics, human resources, etc.) you feel is MOST important to its success. Defend your answer.

Answer 1

A business requires maintaining to grow properly; the targeting audience is the most important factor of a successful business. The business growth comes from the effective marketing approach and with the proper analysis the customer’s are required to be known, their choices and demand are required to be fulfilled for the correct business. The business growth comes from the selling of the products to the customers. The customers require the highest transparency while marketing and the management are highly influential in the course making the sustainable bond over a longer period of time by maintaining the ethical approach to keep the standard of the business.

The element of the business is management, marketing, and ethics.  
The management plays an important role in maintaining the business standard at all the sectors, with the management the system forms to develop the best standard by following the organizational prospects to make the flow of business sustained and motivated. It encourages all the employees to meet and look forward to goal making attitude which is quite desirable. The second element is the marketing, choosing the correct medium of marketing is highly necessary to target the audience with the best suitable standards. Through the concept of marketing, the organization products get the reputation in the market and the organization gets the scope to earn maximum profit from it. The third important aspect is the ethics which is the heart of any business. The ethical approach is highly deserving for the business to stretch for a longer period, it builds the collaboration and in all the dealings ethics plays a vital role to make the relationship with the clients, suppliers, and maintain a customer’s stability to function an effective path of business.