Top Reasons businesses fail

When starting a business,one must always be prepared for it to fail. Business rarely flourish and become a huge success because running one is tough. When we look more into the reasons why businesses fail,we realize its because of 9 reason which are:

1. Bad business plan --> If the entrepreneur doesn't have a well thought out business plan,it will most likely not be able to compete with the older and more experienced competitors. 

2.Lack Of Capital --> Capital is the base of a business. In order for a business to grow,it must have capital to fund it.

3.Not offering Quality services--> Offering of quality service is what that matters most in business; if a business doesn’t have it then the business is calling for its failure.

4.Lack of Truth and Honesty-->  A successful business will be truthful about where their products come from to their costumer. By gaining a costumer's trust,it is guaranteed they will come back for more. 

5.Lack Of Effective Business Promotion-->  When a business doesn't promote its products,then it will not become known and costumers will prefer more known products than theirs. Which will eventually force the business to declare bankruptcy.

6.Bad business location--> When opening a business,the entrepreneur must be picky when it comes to the location. A business will fail if it is not in a noticeable place where people visit often.

7.bad usage of profit--> if the business profits can’t be use to re-invest in the business then the business will not grow.

8.Life Factor -->  Life factor does add to the failure of a business, maybe due to the way things are going with the business founders’ family or the business founders can’t just cope anymore. Also disagreement of the business founders does lead to business failure.

9.Bad Workers:  A business must always hire dedicated workers that will want the good of the company.

http://www.megabizflakes.com/top-10-reasons-why-business-fail

Corporate Social Responsibility

Corporate initiative to assess and take responsibility for the company's effects on the environment and impact on social welfare. The term generally applies to company efforts that go beyond what may be required by regulators or environmental protection groups.

The Good -> Haagen-Dazs & honeybee preservation:

Honeybees are disappearing at an alarming rate and that’s bad for the global food chain. Haagen-Dazs decided to create a micro site to raise awareness about the issue.The company is donating a portion of profits from its Haagen-Dazs honeybee brand to research on the topic. This concern for the environment and its social responsibility encouraged people to participate in their cause and buy their product.

The Bad -->Walmart:

Walmart does anything to maximize their profit. Even if it means cheating when it comes to their product or their workers. They don't provide a good environment for their workers or proper medical care.  

The Ugly --> Colgate:

The Ethical Consumer Research Association once recommended that its readers do not buy Colgate because of its use of animal testing. Colgate-Palmolive, as a successor to The Mennen Company, is one of about 300 companies held potentially responsible for hazardous waste at the Chemsol federal Superfund site in  New Jersey.Their involvement in this site may have contributed to the contamination of an estimated 18,500 cubic yards (14,100 m³) of soil with volatile organic compounds and lead off-site. 

Why do European Countries want to join the EU?

The EU was created as a union of free countries with the basic idea to put an end to wars, which have been ripping the continent apart for centuries, and to secure a safe and quality life for its inhabitants.until this very day , The European union is progressing and developing as well as expanding in size. Being a part of the EU means:

1. Access to a large and competitive market, where the same rules apply : This is especially important for smaller countries whose internal market is naturally more limited. On the other hand there are standards to guarantee the quality and safety of the goods.rules reduce the risk of venturing into a new market and enhance trade enormously. This also encourages countries to collaborate to produce more.

2.  Enhancing every aspect of Life : business, Justice System and standard of living.

3. An emphasis on the social sphere : In terms of people's lives this results, among other things, into a commonly accepted number of working hours for the week, number of minimal annual leave, social security and pension rules, maternity leave and child care rules

4. An emphasis on education and scientific research : Scientific research is something, which requires a powerful economy and substantial financial resources. The EU provides the money and time and makes it accessible to all the countries in the EU.

 5. Solidarity : This is a major principle, which makes every member of the EU much stronger in every aspect. This bonds EU members together and creates a feeling of stability and safety. Therefore, it is important that countries joining the EU have no unresolved problems with other EU member states.

With all these perks, All countries are fighting to join the EU because it provides higher standards of living and  diversity and unity. IT is much better for every business and economy to be part of something bigger.