LO2
List the indicators of a successful business
- profitabiltity
- share prices
- customer satisfaction
- company growth
- reputation
- repeat business
- Legacy
- winning trophies/competitions
- Recgnisability
Name the 8 types of contracts
- part time
- full time
- permanent
- temporary
- contracted
- seasonal
- out sourced
- voluntary
What are the terms of conracts
- employment conditions
- rights
- responsibilities
- duties
Benefits to the business of staff retention
- lower/fewer recruitment and training costs
- skilled work force
- staff know the customers better
- promoting from within
Benefits to the customers of staff retention
- familiar workforce/environment
- recognising individual needs
- rapport building
Benefits to the employees of staff retention
- promotion opportunities
- job security
- proffessional development
- job satisfaction
- Pension/Share scheme
what are the different ways to attract customers
- offers and freebies
- advertising
- sponsoring events and people
- vouchers/schemes
- direct marketing
- social media links
- traditional marketing
What are the benefits of keeping loyal customers
- Cheaper than acquisition
- Loyalm customers are more profitable
- your brand will stand out
- more word or mouth referrals
- engaged customers provide more feedback
- customers will explore your brand
- loyal customers are more forgiving
- you earn wiggle room to try new things
- better for employee health
What is a SWOT analysis
S - Strengths
W - Weaknesses
O - Opportunities
T - Threats