How to define success?
Stephane Elmaleh-Riel B.Ed, M.B.A.
For over 30 years, we have been helping companies improve communication among themselves, with their clients, and among their various offices.
When doing my MBA, I learned that one of business’ measures of success was profit maximization. Of course, this generalization has limitations such as: the opening of new markets, introducing new products, research and development, capital investment, training or increased labor force. All are very positive actions for the company but may have short or medium-term negative effect on profitability. However, profit maximization is one way to determine success.
If I have learned anything in the past 25 years is that one of the important lines in financial statements is the profits line. Why? If your company's business model is based on commissions, the difference between gross and net sales can be significant. In addition, there are all the costs associated with achieving these sales to consider: office, travel, representation / solicitation fees, etc ... (click here for the rest)