Today’s world , it is often argued that successful business person have lucrative

income from their firms and its profit is a measurement of Business’s Success.
Is money a true indicator of the success of a business?
In what other ways could success in a business be measured?
In fact, money is the first thing people think about when measuring the success of
a business. Making money is one of the primary motives behind starting any new
business.
A business can grow substantially when it’s high budget allows you to establish
branches internationally, advertising its products, hiring well-experienced employees
leading to substantial development of firms. These strategies are hardly applicable to
low funds.Then, money is a real measurement for developing corporations.
However, not the only one, the success of a business should also be measured in its
Customer satisfaction, Employee satisfaction, Corporate social responsibility.

First comes customer satisfaction.

I. Customer Satisfaction
A business's success also can be measured in terms of the number of loyal customers
it has retained so far, the positive reviews and recommendations it gets from its
existing customers. Ideally, these customers are happy, tell their friends about you,
and keep coming back.
a. Definition of Customer Satisfaction
Customer satisfaction is defined as a measurement that determines how happy
customers are with a company’s products and services.
Customer satisfaction information, including surveys and ratings, can help a
company determine how to best improve or changes its products and services.
b. The importance of customer satisfaction
Why is customer satisfaction important to the success of a business?
The first is because when customers are satisfied they will put their trust in you,
trust will lead to loyalty
- Loyalty
Any business must identify a certain source of potential customers. Choosing the
right customers, giving them satisfaction is how businesses build loyal customers.
Loyalty helps businesses retain customers, create close relationships and help
businesses maintain operations even through difficult times.
The second factor I want to talk about is
- Recommend to others
Word of mouth is considered the most effective advertising method, especially
through friends, daily relationships, .. Customer satisfaction after using your product
and introduce to people around is extremely natural without advertising.
 From the source of loyal customers, you can easily have a large number of new
customers.
Besides, internet also spreads fast.
A great example of this has been demonstrated by United Airlines.
You might recall the recent bad customer service of United Airlines (..) Which led
to Dave Carroll writing a song about the experience, aptly titled, ‘United Breaks
Guitars’. And thanks to a viral powers of a quickly rising YouTube, millions shared
Carroll’s pain.
Next, aviation officers dragging a passenger off a flight went viral. The airline said
it needed room on the overbooked plane for crew. When it couldn't find enough
volunteers, United selected the 69-years-old man, David Dao
He refused, and officers dragged him down off the flight. He later went to the
hospital
Secondly, employee satisfaction is also an important measure of a successful
business.
II. Employee satisfaction
Brendan Lyle, CEO of Kayemcee Group, defines success as having a strong
company culture with employees who stand behind the mission.
"As a business owner, my success is built around my staff, my company will only
be successful if I have the right team with me, and to make sure that happens, I ensure
that my staff is happy. My ultimate success is making sure I can pay my staff as much
as I can and making sure they love getting out of bed every morning and coming to
work because they really enjoy what they do."
Employee satisfaction is a state where individuals are not only happy with their
current profiles but also look forward towards a long term association with the
organization.
No individual wants to quit their job after every six months.
They dont work out of any compulsion because they dream of taking their
organization to a new level. Employee satisfaction leads to a positive ambience at the
workplace. People seldom complain and concentrate more on their work.
Why Satisfaction in the Workplace Matters
- Employees dissatisfied with their roles or responsibilities are the ones leaving at
5pm everyday on the dot, putting in the bare minimum of effort required, and will
potentially leave the company on bad terms.
- Morever, employee satisfaction also can help your company by reducing your
recruitment and training costs—especially when you consider it can take 8 to 26 weeks
for a new employee to reach full productivity. Satisfied employees already understand
how their new position fits into an organisation.
When all members of your company are happy, they will feel motivated and come
forward with innovative ideas.
 Last but not least,
III. Corporate social responsibility
Of course, Companies have to pursue profits, but they must do so in a socially
responsible and environmentally-friendly way.
Corporate social responsibility has come to mean:
“The responsibility of an organization for the impacts of its decisions and activities
on society and the environment, through transparent and ethical behavior that:
contributes to Sustainable Development, including health and the welfare of society;
takes into account the expectations of stakeholders; is in compliance with applicable
law and consistent with international norms of behavior; and is integrated throughout
the organization and implemented in its relations.
CORPORATE SOCIAL RESPONSIBILITY should achieve the following
goals:
- Provide employment: Businesses should create jobs and should contribute to the
economy.
- Care for the environment: Businesses have a responsibility to cut back on carbon
emissions, dispose of waste in a non-polluting way, and support environmental care
programmes.
- Adhere to ethical principles: Companies should promote business ethics and be
seen to be trustworthy..
How CSR Benefits Companies
While the community profits from a strong CSR project, so does the company.
Benefits for the company include:
1) Standing: Companies with a proven CSR track record are invariably held in high
regard by the local community. By contrast, those with a poor CSR reputation are
generally shunned.
2) Happier employees: Companies committed to CSR programmes tend to attract
brighter and more optimistic workers, and the morale of staff is usually high.
3) Better trade relations: Companies up and down the supply chain will relate more
to other partner firms that have adopted the same or similar CSR values as themselves.
A commitment to CSR pays off A Reputation Institute survey found that 91.4% of
respondents said they would support a company with an excellent CSR programme,
while 84.3% said they would give such companies the benefit of the doubt in a crisis.
In fact, the company certainly does more than solely delivering pairs of shoes to
countries in need by aiding over seventy countries to increase health, education, and
economic opportunities for children and their surrounding communities..
Beginning in 2011, it has supplied thirteen countries with glasses, medical aid, and
surgeries, successfully giving the gift of sight to over 275,000 people. Additionally,
in 2014, TOMS Roasting Co. was created as an expansion to the company.
 For each purchase of coffee, TOMS now provides a one-week supply of clean
drinking water to someone who needs it.
Finally, and most recently, TOMS has tackled the issue of unsafe maternal births by
training skilled birth attendants and providing birth kits to mothers.
The multitude of contributions by TOMS to the developing world illustrates that a
business can operate efficiently, as well as help those in need. By practicing
responsibility, the company has gladly made it a priority to better the lives of others.
As TOMS continues to grow, it clearly depicts the benefits of instilling corporate
social responsibility in the foundation of a company.
Examples of CORPORATE SOCIAL RESPONSIBILITY : TOMS SHOES
Although shoes are in the category of a necessity for all children, not all can afford
a pair of shoes.
Less concerned with the latest gadgets and technologies, those in developing
countries simply request a pair of shoes to protect their feet, as in Argentina, where
children lack access to proper footwear. This means they cannot enjoy experiences
like running around on uneasy terrains when playing. Instead, their bare feet are left
unprotected, prone to injuries, and likely to become infected.
Blake Mycoskie, founder of TOMS Shoes, practicing corporate social
responsibility, he developed a business model that extends beyond mere profitability
and into the realm of philanthropy. With a goal to better the communities, his company
provides a pair of shoes to a child in need whenever someone purchases a pair of
TOMS Shoes.
In fact, the company certainly does more than solely delivering pairs of shoes to
countries in need by aiding over 70 countries to increase health, education, and
economic opportunities for children and their surrounding communities..
- They have supplied thirteen countries with glasses, medical, and surgeries
- provides clean drinking water
- trained skilled birth attendants and providing birth kits to mothers.
As TOMS continues to grow, it clearly depicts the benefits of instilling corporate
social responsibility in the foundation of a company.
Even thought profits are an important indicator of success, the success of a business
should also be measured in its Customer Satisfaction, Employee Satisfaction, Corporate
Social Responsibility.
Remember:
I think there is no single factor that really shows the most clearly and
comprehensively the success of the business. Those factors are all related, most
closely connected with each other