₦airaland Forum

Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 1,915,825 members, 3,927,443 topics. Date: Wednesday, 22 November 2017 at 02:10 PM

6 Evaluation Methods For Business Growth - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / 6 Evaluation Methods For Business Growth (5286 Views)

How To Manage A Startup Business Growth / Best Nigerian Bank For Business Account / IMF Cuts Nigeria Growth Forecast Yet Again (1) (2) (3) (4)

(0) (Reply) (Go Down)

6 Evaluation Methods For Business Growth by mantosa(m): 7:36am On Sep 11
Entrepreneurs should adopt the act of evaluating the performance of their businesses frequently in order to ascertain the level of growth and identify the areas where improvement is required. The SWOT analysis can be useful at any stage of business to identify strengths, weaknesses, opportunities and threats. The business owner can always try once in a while to check the milestone he/she has achieved, the customers the business has been able to amass and retain, and the revenue it has accrued over time – this is called evaluation. The entrepreneur can also carry out evaluation of:

Cost and Revenue
The entrepreneur should have depth knowledge of how cost and revenue relate in business. He/she must always be in a position to always break even quicker and make profits.

Customer Satisfaction
Customers satisfaction is the best way of sustaining a business, a business cannot retain a dissatisfied customer. Therefore, it is very important for an entrepreneur to often measure how satisfied his/her customers are.

Employee Satisfaction
Your employees are partners in progress and must be satisfied and motivated to work towards achieving goals at all times. Career prospect, incentives and training opportunities are part of the things that enhance employee satisfaction.

Goals Achieved
Evaluating how successful a business is when it comes to achieving its set goals within a specific period of time reveals a lot about its growth.

Gain in Market Share
If a business can work on increasing its market share in the industry within which it operates, there is a possibility that it can lead the industry. In Jeff Bezzos words, he said “market leadership can translate directly to higher revenue, higher profitability, greater capital velocity, and correspondingly stronger returns on invested capital”.

Measuring Competitive Advantage
A business should be ready with strategies and innovation that will enable it to compete effectively. Competitive advantage can also be evaluated always in order to avoid failure or loss of market share.


source; http://tushmagazine.com.ng/6-evaluation-methods-business-growth/

cc
lalasticala, mynd44, dominique

7 Likes 2 Shares

Re: 6 Evaluation Methods For Business Growth by magazineguy(m): 7:40am On Sep 11
mantosa:
Entrepreneurs should adopt the act of evaluating the performance of their businesses frequently in order to ascertain the level of growth and identify the areas where improvement is required. The SWOT analysis can be useful at any stage of business to identify strengths, weaknesses, opportunities and threats. The business owner can always try once in a while to check the milestone he/she has achieved, the customers the business has been able to amass and retain, and the revenue it has accrued over time – this is called evaluation. The entrepreneur can also carry out evaluation of:

Cost and Revenue
The entrepreneur should have depth knowledge of how cost and revenue relate in business. He/she must always be in a position to always break even quicker and make profits.

Customer Satisfaction
Customers satisfaction is the best way of sustaining a business, a business cannot retain a dissatisfied customer. Therefore, it is very important for an entrepreneur to often measure how satisfied his/her customers are.

Employee Satisfaction
Your employees are partners in progress and must be satisfied and motivated to work towards achieving goals at all times. Career prospect, incentives and training opportunities are part of the things that enhance employee satisfaction.

Goals Achieved
Evaluating how successful a business is when it comes to achieving its set goals within a specific period of time reveals a lot about its growth.

Gain in Market Share
If a business can work on increasing its market share in the industry within which it operates, there is a possibility that it can lead the industry. In Jeff Bezzos words, he said “market leadership can translate directly to higher revenue, higher profitability, greater capital velocity, and correspondingly stronger returns on invested capital”.

Measuring Competitive Advantage
A business should be ready with strategies and innovation that will enable it to compete effectively. Competitive advantage can also be evaluated always in order to avoid failure or loss of market share.


source; http://tushmagazine.com.ng/6-evaluation-methods-business-growth/

cc
lalasticala, mynd44, dominique
Re: 6 Evaluation Methods For Business Growth by UncleSnr(m): 8:04am On Sep 11
Re: 6 Evaluation Methods For Business Growth by xeleb(m): 8:05am On Sep 11
Don't allow your car to be stolen before taking action, know the location of your car through GPS,SMS,GPRS,you can stop and start your car with just a sms, listen to live conversation in your car.get a car tracker today in Abuja,price is 30000, for more details pls call 08066804625

Re: 6 Evaluation Methods For Business Growth by gracein: 8:10am On Sep 11
happy birthday to me. my likes please

5 Likes

Re: 6 Evaluation Methods For Business Growth by Donald3d(m): 8:13am On Sep 11
gbam !
Get a quality and affordable website for your business! !!!
Contact me, check my signature

1 Like

Re: 6 Evaluation Methods For Business Growth by sakalisis(m): 8:21am On Sep 11
cool
Re: 6 Evaluation Methods For Business Growth by Godwin999(m): 8:23am On Sep 11
And i will tell you the truth...READ GOOD BUSINESS BOOKS. It helped me a lot.

1 Like

Re: 6 Evaluation Methods For Business Growth by money121(m): 8:25am On Sep 11
Types Of Aluminium Roofing Sheet and the Current price List in Nigeria Market

Longspan (Mentral) 0.45mm #1450 per mtr
0.55mm #1900 per mtr

Steptiles 0.45mm #1650 per MTR
0.55mm #2000 per MTR

Metrocopo 0.45mm #1700 per MTR
0.55mm #2150 per Meters

Call/WhatsApp 08085310359

Re: 6 Evaluation Methods For Business Growth by estyvino(m): 8:42am On Sep 11
Balance Score Card in Mind
Re: 6 Evaluation Methods For Business Growth by sablaluv(m): 9:49am On Sep 11
For your clothing and printing works call us @07081116885 sablaayoade@gmail.com #sablaluv clothing nd printing production

Re: 6 Evaluation Methods For Business Growth by honestivo(m): 10:17am On Sep 11
Nice one op
Re: 6 Evaluation Methods For Business Growth by akaahs(m): 11:07am On Sep 11
For ur epoxy floor finish call 08123303564

(0) (Reply)

Alternative Way To Make Payment In China / YOUWIN: 539 Awardees Receive Payments / Fastrack Business Club

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (0) (1) (2) (3) (4) (5) (6) (7) (8) (9)

Nairaland - Copyright © 2005 - 2017 Oluwaseun Osewa. All rights reserved. See How To Advertise. 62
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.