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Unit 4: Success

Discuss what makes people or companies successful?

The factors that influence a company's performance are hotly contested. But in my
view, strong cooperation and a great leader are the two most critical elements because
of the following reasons:

On the one hand, teamwork gives companies the best results in business. Assigning
tasks based on the strengths of each individual on the team is a smart way to save time
and money since nobody can complete all of the work with high efficiency. In addition,
teamwork helps the company to make the right decisions as well as reduce many risks
due to the subjective choices of each employee. It is clear that during the working
process, all employees can collaborate and share perspectives to develop the most
logical plan, resulting in a more efficient operation for the entire company.

On the other hand, to create successful companies, besides the collective of all
employees, an excellent leader is indispensable. We all understand that the director is
the one who determines the company's long-term strategy and business plan. The
director is crucial to the success of the company because the corporate development
strategy is the main focus of all staff actions. Additionally, leaders are those that oversee
and control the work of others, so by connecting with workers; they can motivate and
connect all employees, thereby assisting them in learning more about others and the
business's approach to generating profitable jobs. For instance, by assigning tasks,
executives can motivate and enable staff members to advance the industry and realize
their full potential.

In conclusion, with the above explanations, I firmly believe that successful businesses
result from great leaders, strong organizations, and the efforts of all employees.

1. What are important factors in making a company successful?

I think there are several key factors that contribute to the success of a company. The first
factor is pursuing a mission. A company’s mission is essential to running all aspects of the
business. It helps the founders grow the company with a major goal in mind, and gives the
employees something to work towards. The second most important is the company provides
excellent customer service and customer experience. Successful companies create products
and services that customers want. People will return to a brand because of exemplary /ɪɡ
ˈzempləri/ customer service, even if they don’t offer the lowest price. And last but not least,
companies should know how to retain employee talent. With talented, creative, and devoted
employees, companies can thrive and come up with innovative ideas for business growth.

2. What kinds of qualities should a successful businessman have?

I think to become a successful entrepreneur, one needs to possess many important
qualities/ traits. The most important one is a thorough knowledge of business. He should be
clear about the mission and objectives of the organization. He should have a thorough
understanding of different functional areas, such as finance /ˈfaɪnæns/, marketing, and laws,
that sort of thing. Another trait is his dedication to his business. A business manager should
be hardworking because success and hard work go together. His hard work will motivate his
employees to work with the same enthusiasm. Besides, I think he can maintain a
cordial /ˈkɔːdiəl/ / good relationship with employees. He should try to understand the likings
and dis-likings of his staff and find ways to improve employee satisfaction.

3. What are some emerging industries that you know?

I mean, due to the effects of this pandemic, some industries are gaining more

prominence. The first one could be businesses that use cloud computing for
videoconferencing. The reason is that as people have to work and socialize remotely, tools
and softwares such as Zoom, Microsoft’s Teams, Skype are suddenly supporting millions
of personal and corporate interactions every minute. And another emerging industry
is Personal Protective Equipment. Each person is now required to wear a face mask to protect
themselves from the virus, so many countries are facing a severe shortage. Also, gloves
and other health-protective gear are urgently needed.