Describe a successful small business that you know about. You should say:
- What business/company is it?
- What does this business do?
- How do you know about this business?
- and explain why you think this business/company is successful.
Sample Answer of Describe a Successful Small Business that You Know About
Businesses are the main source of the national economy, and tax generated from business helps the government to run the country. Every day hundreds of businesses open and close. The business can start from a small-scale industry and reach a huge multinational corporation. One of the successful companies in the city is Trident. Trident is a textile and paper industry incorporated in 1990.
It has developed a lot throughout time and become a leading industry under the guidance of its managing director and owner of the trident group Rajinder Gupta is one of the great industrialists. Trident industry started as a small textile industry and gained profits and recognition through great product quality over time. It also has a sister industry called IOL chemicals, a pharmaceutical company run by Rajinder Gupta’s brother.
The Trident is famous for bedsheets, blankets, and towels especially. The products are of premium quality and transported throughout the globe. Moreover, the company is also famous for its paper production, and Trident is the leading paper industry in northern India. It produces all types of paper, starting from xerox sheets to huge paper rolls for notebook-producing industries.
In my childhood, I got to hear about the Trident, as it is located in my city. Even my uncle has worked in Trident for a few years. Trident provides a large amount of employment to city residents. The company is successful and well-known. It is even registered in the Indian stock market. The industry’s success can be determined by its stock price, which has increased 20 times in the last three years. The trident industry is the inspiration for small industries that want to become as successful as the Trident today.
Part 3 Questions Describe a Successful Small Business that You Know About
Question 1. What qualities are required to become a company leader (CEO or manager)?
Answer – Quality of cooperation, team leading, patience, dedication, and hard work is required to become a successful CEO or manager. Moreover, the leader should have the supreme quality of accepting failure and taking the blame. They should not blame another team member for failure. But when they get successful, they should give credit to a team member to encourage them.
Question 2. In general, what factors do you think to determine whether a small company will become successful or not?
Answer – Small industries can be judged based on their management and educated and experienced staff. Competition of the field they are in and the sales target they are considering and achieving.
Question 3. Do you think the latest technology plays an important role in a company’s development?
Answer – Yes, there is nothing to deny that technology has a part in industry development. The website, managing software, and data-keeping software help the industry to run. Moreover, technology is used to produce the complex product in a simple way.
Question 4. What do you think of charitable organizations?
Answer – The charitable organization is the best part of society. They help eliminate the problems not solved by the government or any other managing posts. They help society to improve.
Question 5. Which do you think is better, to start your own business or to work for someone else?
Answer – It depends on the financial status of the person. Experience and knowledge also play important roles in business. From my perspective, the first action for starting the business should be working under someone to gain experience and save money for the business. After that, when the person gets enough knowledge and experience, they can go ahead to start their own business.
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