Latest Business Tip

Thursday, July 29, 2010

Top 10 Characteristics of Successful Companies

  1. Customer Satisfaction Focus – satisfy the customer
  2. Quality Products / Services – provide consistent quality and value in what you do
  3. Skilled and Experienced Management Team – quality management (in-house and/or external)
  4. Loyal, Committed and Productive Staff – effective and efficient employees
  5. Innovative culture – continuously improving/bettering what and how the business does
  6. Solid Financial Management Systems – good control and performance analysis mechanisms
  7. Access to Capital to Develop and Grow – adequate funds to grow and sustain the business
  8. Competitive advantage – establishment and maintenance of a unique point of difference
  9. Quality Planning – establishing the destination and plotting course
  10. Good Corporate Governance, include:
  • Lay solid foundations for management
  • Structure the board to add value
  • Promote ethical and responsible decision making
  • Safeguard integrity in financial reporting
  • Make timely and balanced disclosure
  • Respect the rights of shareholders
  • Recognise and manage risk
  • Remunerate fairly and responsibly
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