How can success be measured?

Página 1

How can success be measured? Definitions Profits - the rewards for risk-taking. Profit is the difference between the amount of revenue earned by a firm and the total costs of producing the goods and services that businesses sell.

Market Share - the quantity sold by a business as a percentage of a total sales in a market.

Competitiveness - the strength of a business's position in a market measured by market share and profitability. It reflects whether people are prepared to use he business over its rivals.

Competitive advantage - advantages that a business has over its rivals. These advantages help to win it customers. To be really effective the advantages must be difficult to copy and unique.

Social Success - the performance of a business which takes account of social, environmental and ethical factors.