(Assignment No#4…….

Semester 4th) (2021-08-09)

Submitted By

Usman Bin Mustaqeem

Roll No

19020920-022

Course Code MGT-227

Submitted to

Sir Mustansar

DEPARTMENT OF BBA

University of Gujrat Mandi Bahauddin Campus

EVALUTE THE ENTIRE BUSINESS

Customer loyalties, this makes it crucial to keep a finger on the pulse of how a company is
operating, and where challenges and opportunities exist. That’s why, regardless of industry,
companies should put benchmarks in place as a way of periodically measuring business success.
Organizations that manage fleets as part of daily operations are especially reliant on near realtime
ROI metrics. Here are examples of success metrics you can use to gauge your fleet-based
organization’s success, followed by how telemetric technology can help achieve them.

1. The break-even point

This is the number you need to get to in a given period (generally monthly or quarterly) in order
for the company to cover its own costs and sustain itself, even if it is not making a profit during a
slow time.

2. Leads generated and leads converted

Not all organizations are marketing-dependent. But if yours is, you need to keep track of where
your leads come from (direct mail, email, ads, etc.) to help you decide where to allocate
marketing dollars. Likewise, you should also know how many leads actually become customers,
which helps track growth.

3. Sales indicators

Volume and frequency of sales can provide data on overall business success. You can break this
down by sales to new customers, sales to existing customers, profit per sale, which
products/services are making the most money, or any other categories that might be important to
your business. Keeping track of these numbers can provide valuable insight for other actions. For
example, if you see sales to existing customers suddenly drop, you can investigate why.

4. Net income ratio/profit

Your profit—the money left over after operating expenses are subtracted from revenue—is an
important benchmark. A business just starting out, or one in an industry that experiences periodic
or seasonal slowdowns, may have a bottom line in the red from time to time. But you should
always aim to grow profits—if you’re losing money, look at ways to trim expenses or
reconfigure operations.

There are also some less tangible, but still important, ways of measuring business success:

5. Customers (new, repeat and referrals)

A growing customer base means your business is meeting target audience needs and creating
happy customers who are likely willing to refer others. So, consider offering a referral incentive
to help attract new customers and help you gauge current customer satisfaction. Keep all
customer data in one place and be sure to have a way to track where each customer came from.
6. Employee satisfaction

Your employees are a critical part of your company. Helping ensure they have a positive,
supportive work environment with tools that let them succeed will motivate them to work harder.
This lays the groundwork for employee satisfaction that translates into increased customer
satisfaction.

7. Your satisfaction

Don’t discount your own satisfaction with your business and the direction it’s going. If you
aren’t happy, it can trickle down to employees and then to customers. Make sure to periodically
review the state of operations to determine if you are satisfied with where the business is
heading. If you’re not satisfied, create an actionable plan for change around areas that need
improvement.