Key Factors That Influence The Success Of A Business

Introduction The global economy continues to grow in the 21st century based on the continuous developing success of businesses. It can be argued that there are many important factors that will influence the success of a business. However these two assets have been highly valued as they are linked to organisational success. 1. Business Relationships 2. Reputation Dr. Robert Cialdini is a professor who has spent his entire career researching the science of influence and acquired an international reputation of being an expert in his field. (Cialdini, 2016) Dr. Cialdini developed his scientific findings for human interaction, which he refers to as the Six Principles of Influence. We will analyse if these principles have continue to stay relevant in the 21st century’s global economy. Business Relationships What is a business relationship? It is said that â€Å"relationships† are the fuel that feeds your â€Å"business†. It takes dedication to develop and maintain not only a business relationship but also important to make it a successful one. To be able to develop and maintain successful business relationships is acknowledged in practice. However, this can be complex process of finding factual evidence in academic literature. Why are Business Relationships important? The importance of business relationships can take various different forms. †¢ As a company, this is a great way for you to connect with your clients and customers. †¢ Relationships with other companies are alsoShow MoreRelatedFactors That Influence Risk Levels On The Hospitality Industry1207 Words   |  5 PagesThis essay will critically analyse factors that influence risk levels in the hospitality industry. Further to this, recommendations on risk handling will be put forward to lessen these risks. 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