Key Business Concepts

There are 6 key concepts which are to be considered for a successful business. These 6 concepts are change, culture, ethics, globalisation, innovation, and strategy. A business is a commercial activity or organization where goods and services are exchanged. For a business to be successful, all of these ideas must be integrated into many topics involved in business such as human rights management, sales and marketing, etc. I will be discussing in depth change which is progress and moving from one state to another. I will also be discussing globalisation which is spreading ideas and knowledge throughout the world. Lastly I will be explaining strategy which refers to the significant long-term planing decisions that organizations need to make

The first concept that I will be discussing is change. Change is essential for a successful business because change may be development or it could be regression. Change can be a bad thing but it can also be a good thing as well. One of the examples of change is change in the environment. For example, people in today’s society try to be more environmentally friendly because people are using all the fuel up causing the world to run out of oil and creating pollution. So people are making cars that use electricity to run instead of using fuel. Another example of change could also involved in technology. For example in the olden days, a brick cellphone is really poplar and on trend, however in today’s society touch screen phones such as iPhones are almost essentials in everyones’ hands. Nowadays, we can do so much more than just call others on the brick cellphones, people can now text, face time all around the world, not in just the areas you are in like doing it on a brick cellphones. In the present day, there are so many business such as Samsung and apple who are adapting today’s society to a more

Globalisation is to spread knowledge and ideas around the world. Globalisation is when an organization develop international influnces or start going worldwide. For example, a product such as a cap is sold in Canda but could have been made by chinese workers and it could have been shipped on to a turkey ship to be sent to Canada. This example shows how this key concept Globalisation is also important for managing a successful business because it gives up more variety in products. For example, New Zealand specialize dairy products but not really specilize grapes, however globalisation helps to open New Zealand up to have grapes that may be imported from Canada because grapes aren’t what New zealand specialized and it can also goes the same way around with the dairy products in New Zealand can also be imported to other countries that they may not be specialized with. Another example that I will be stating is that a Starbucks company is all over the entire world. This company only started in a small town in Seattle and now they are expanding the company causing their company with a larger range of people to sell their products to and at the same time they are also maximizing the profit which comes from the consumers all around the world. Without globalisation, the companies would not make as much profit as they would otherwise because they have a much smaller consumer