Business Essay Example: Maximization of Business Results

2021-07-14 22:22:23
2 pages
463 words
University/College: 
Sewanee University of the South
Type of paper: 
Essay
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Bell helicopter focus on maximizing business results entails a calculated move towards ensuring that its sales receive the biggest profits possible. So maximizing business results calls for profit maximization. Business as an entity may have either profits or losses as its results in a given financial year. However applying the skill of maximization of business results, we assume the risks there off and focus on maximizing the profits.

This skill can effectively apply at Bell Helicopter by ensuring that all its profits are directed towards improving their service delivery. Part of the profits made can be used in expanding the company rather than taking unnecessary risks.

Seizing opportunities to full advantage.

It is possible for Bell Helicopter as an industry to fully explore the opportunities available in its area of jurisdiction. This skill will ensure that there is an explicit use of available resources to fulfil the needs of the company. Application of this skill will be key to fair competition and thus enhance the chances of profit maximization, resulting in success.

Growing the business through prospecting.

Prospecting is the process by which potential customers are identified, also called prospects. The main aim of prospecting is to identify the customers and systematically convince them to become current customers' rather than potential customers. Prospects can be obtained through different ways, and Bell Helicopter should not only rely on the physical world to obtain prospects. Effective application of this skill calls for a subscription to the current technological standards. Much should be done to ensure that prospects are also identified through the social media platforms. This skill will ensure that there is consistency in sales due to effective customer retention. Every prospect that Bell Helicopter will recommend will be contributing to their sales success leading to increased profits and therefore business success. Bell Helicopter should make the available customers their brand ambassadors, for it is easier to retain a customer than to acquire new ones. The retained customers should then be treated well to enable them to recommend the service to their partners.

Leveraging resources to exceed customer requirements

For Bell Helicopters to effectively apply this skill, they need to identify what exactly are the customer expectations or requirements. This is an effective and most vital skill. Bell helicopters have to recognize the customer tastes and preferences as well as customer complaints and meet them satisfactorily. When resources are combined to the extent that they exceed customer requirements, then Bell Helicopter is assured of success in their operation. Sales volume will increase hence increased profits. Resources are considered as the basic strengths of any given firm; they include available stocks that are controlled or used by the firm. The comparative advantage of leveraging resources beyond customer expectations is to ensure sustainable competitive advantage and therefore profitability.

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