No successful business has ever thrived in isolation. Our businesses do not operate in a vacuum; they operate in an ever changing environment that is affected by several internal and external factors. For you to thrive in business, you must first understand your business environment.
Understanding your business environment
Understanding the environment in which your business operates in will ensure that you provide the right goods and services for that market. Furthermore, knowing your customer’s needs, investors’ expectations and what your competitors are doing will also give you further insight on how to operate your business.
Together with your employees, they play a critical role in determining whether your business will succeed or fail.
Research and innovate
Unfortunately, many a times we forget that the world keeps changing and the needs of the people keep developing. This means that a business must continuously innovate and redevelop itself for its survival and to keep up with the ever changing market trends.
Investing in research and development will aid this as well ensure you are delivering the right products and services in the market.
Additionally, this will of course give you an edge over your competitors and holistically improve the general business climate since businesses are working towards improvement and innovation.
It is important to scale higher and expand your market share once you know your business can handle it. We are a global market with various investors wanting to partner and invest in Kenya.
Think globally and make sure you invest in the right talent to help you take and maintain your business beyond borders.
As the leader of your business, transformation begins with you. Your employees will emulate what they see and what you teach them.
You drive the vision and success of the business. Do things right
Article by Chris Kirubi