Good Business Characteristics

• 1) Good interpersonal skill

This skill is further divided into different categories of interpersonal skill between the customers and the company's staff, within the company staffs and colleagues, and between the employees and employers.

Examples of these are answering the phone within three rings. If the person answering the phone can't help the customer, he or she knows who can and makes an effort to connect the customer to.

The person (the tale-operator or sales person) answers your question and generates further interest on your part in the company's products or services, and, if possible, closes the business. The company is a leader in innovation related to social issues of the day. If there is a problem with the product or service, the company doesn't argue with the customers or clients but, rather, acknowledges the problem and does something about it. The company anticipates the customers or clients requirements. New products and services reflect your needs without you having to ask for them. The company goes the extra mile in service and gives the customers or clients something that you never expected to get.

The company is easy to do business with; it has no artificial barriers to consummating a sale, such as complicated agreements.

Employees enjoy working for the company, and it shows in their good humor and camaraderie. As a result, there is little turnover.

• 2) Good business location

Businesses spend an enormous amount of time and resources trying to figure out the absolute best location for a future business operation. Local communities and states also invest a lot of energy trying to attract those same companies.

What makes for a good business location? Below are listed some of these attributes.

The prospective site location has to be in the general geographic region the company needs to be in. For example if the company needs a plant in a highly developed place, it really doesn't matter how great Pahang or Melaka are.

Transportation infrastructure. The location has what the company need in order to be able to ship raw material in and finished product out, whether it be rail access, north-south and east-west interstate access, water or sea route access or direct air routes to both coasts, or to Europe or Asia.

Work force quantity. Sufficient quantity of a work force in to be able to find the employees the company need.

Work force quality. Are they sufficiently well educated? What are the absenteeism and turnover rates?

Good business climate. The community is a place where the company can be successful. There are other companies located there that are able to operate profitably in a national, or even global, marketplace. The ability of the company to be profitable located there.

Business-friendly environment. There is a spirit of partnership between the local business community and the local and state government instead of a relationship that is tense and adversarial. Other local businesses are treated with respect, instead of their every move treated with suspicion.

Regulations and bureaucracy. The company doesn't have to operate the business within a framework of stifling and confusing regulations that are outside the norm for other locations where the company has operations. The environment does not add to the cost and uncertainty of operating the business.

Labor environment. Theexistence ofeffective labor-management relationship in the community where the company is to operate. No recent history of work stoppages. It's not whether the local work force is unionized that is important, it's the likelihood of slowdowns and stoppages that will rough up the balance sheet.

Reasonable living costs. Living costs are the single most important driver in determining the relative wage and salary structure for a community or region. Therefore the company's workers should be able to afford to buy a home on the wages the company can afford to offer. If not, it can be expected to encounter lower quality and higher turnover in the work force.

Incentives. Incentives, no matter how generous, will never turn a bad location into a good location. The objective in the company's incentives negotiations is to reduce the cost of getting the new facility up and operating. Therefore, an incentive should reduce or eliminate an actual expense that the company would have to make anyway in the new location.

• 3) Excellent advertising policy

The company zero's in on their best prospects. Chooses a medium which is relevant to the size of the business in which to run their ads and opt to spend their advertising dollars to reach a larger but less focused market.

For example, if the company specializes in helping law firms reduce the cost of long, ongoing cases and chooses to run a series of full page ads in the New York Times instead of the New York Law Journal it will likely be disappointed by the response to their campaign. Despite reaching the considerably larger audience of the New York Times the company would be missing the focused attention of the legal minded readership of the New York Law Journal.

The company's zero'ing in on its market would increase the likelihood that the readers who see their ad will actually have a need or impulse for their service or products.

The company's ability to set apart from the ‘crowd'. Unless the business sells a product or service that is completely unique and faces no competition their ads need to set their products or services apart from the crowd of their competitors. For example, if you are the owner of a pet supply company and your ads simply say, "We Sell Pet Supplies" they will be passed over along with every other bland advertisement for Fido's food. On the other hand, your ads will stand out and attract much more attention to your shop if you state that you sell, "King Sized Bones and Bowls for the Royalty in Your Family." By focusing your ads on the owners of large breed dogs you distinguish yourself from the crowd of pet shops that simply sell pet supplies and make it clear to the owners of large dogs that you sell what they need.

The copy of the company's ads has the effect of making what it offers unique. Their highly targeted prospects would then be able to reward them by noticing the difference in their ads and buying from them.

Another property of a highly effective advertisement is that it demonstrates the value the company's products and services provided. By demonstrating value in the advertisements the company gives their prospects a clear idea of the benefits they provide and a clear reason to buy from them. Demonstrating value can also help them set themselves apart from their competitors.

Consumers buy products and services because they fill a need or solve a problem. Therefore the company's ad copy should address their prospects' problems so that they will know that the company provides the solution they need. The company would make more business as more and more prospects come to see them or uses the company's products as the solution to their problem.

The final aspect of a highly effective ad is a call to action. If the company's done their job up until this point, their prospect would have read their ad. If their ad does not finish the job and inspire their prospect to contact them for more information or visit their store or their web site, it is not worth the money they spent to have it published. The company's ad doesn't assume that their prospects know what they should do next. Instead they need to tell them to be sure they know.

A well-written marketing message will take care of most of the details of writing a highly effective ad.

• 4) The product value itself

Brandings seeks to increase the product's perceived value to the customer and thereby increase brand franchise and brand equity. Marketers see a brand as an implied promise that the level of quality people have come to expect from a brand will continue with present and future purchases of the same product. This may increase sales by making a comparison with competing products more favorable. It may also enable the manufacturer to charge more for the product. The value of the brand is determined by the amount of profit it generates for the manufacturer. This results from a combination of increased sales and increased price.

The annual list of the world's most valuable brands, published by Interbrand and Business Week, indicates that the market value of companies often consists largely of brand equity. Research by McKinsey & Company, a global consulting firm, in 2000 suggested that strong, well-leveraged brands produce higher returns to shareholders than weaker, narrower brands. Taken together, this means that brands seriously impact shareholder value, which ultimately makes branding a CEO responsibility.

A good brand name should be legally protectable, be easy to pronounce, be easy to remember, be easy to recognize, attract attention, suggest product benefits (e.g.: Easy-Off) or suggest usage, suggest the company or product image, distinguish the product's positioning relative to the competition.

The four companies having these characteristics are:

1. Nike Sports Wear

Nike has a variety of footwear, for different purposes with various prices, is time-resilient.

1. Nescafe

Everyone remembers Nescafe when making purchases of coffee and true well knows that it is a superior brand. It has been around for a long time and shows no time-vulnerability.

1. Toyota car firm

The company has proven to be a growing well known company for its good for money value of cars. Its product range, advertisements, sales after services have been well-known.

1. Dell computer firm

It is a fast growing computer sales company with manufacturing plants globally, up-to-date with technology, offers even online services, provides excellent service after sales. It has a variety of products range to be chosen from.

I would know my analysis was wrong if the companies' stock prices rises, the companies shows a positive growth of economic profit, the company expands globally, the company adds product lines to its current products within and after the three years.

I would know my analysis was wrong if the companies' stock price plummet or are haphazard within and after the three years, or if the companies bankrupt or downsize, the companies show a negative growth of economic product, the companies change totally available product and changes into other businesses.