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External Failure In Business

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There is a general environment which includes the industry wide situation, next there is the so called immediate environment which includes the parties or stakeholders that are in direct contact with the company such as clients, customers, suppliers, banks etc. The third category based on this external failure model is the corporate policy which includes the business strategy, finance, administration etc. The fourth category is the so called company characteristics which includes parameters as for example the size of the company, the maturity of the industry etc. Ooghe and Waeyaert (2004) argued that all external reasons for failures can be grouped in these mentioned categories. According to the European Federation of Accountants (2004) many …show more content…

Of course, the opposite of all the internal personality related and external success principles mentioned in the earlier chapters can be regarded as possible reasons for failing in business as well. Further evaluation and analysis of this Literature research will be done in the findings and conclusion part of this Bachelor Paper. In the following section mention will be made of various possible training methods and settings related to the personality and trait success …show more content…

For example in the USA various companies, corporations and organizations spend annually around 40 billion dollars alone on leadership development (Lamoreaux 2007). Pfeffer (1995) pointed out that employee or manager training are absolutely key for an organization in order to stay competitive on the market. There are as one can imagine different types of training such as for instance training that is more related to the technical skills of an occupation or more personality oriented training methods. Companies are generally willing to invest in training of their employees as no training would mean no further development. However, usually organizations do want to get the most out of their training investment and therefore only effective and goal oriented training methods are generally in high demand (Noe & Ford 1992; Phillips 1997). One may ask now the question what actually makes a training programme successful and effective. Research has shown that the attitude of the trainees contributes tremendously to the success of a training programme. Of course, there are according to research also other factors as for example the trainer himself, the training environment, the atmosphere, the surroundings etc. that may influence the outcome of a training session but the participants play definitely a major role in the

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