Abstract
Identifying what the customers want and doing a better job of giving it to them, will make all the difference in the company's future. It is also important to understand government policies and regulations in the business industry, its implications to the business, and how to develop strategies necessary to lobby the government to provide the best legal framework. The importance of this is that where those regulations are not aligned to create a conducive environment for trade, the businesses cannot effectively compete. Lastly, finding the right staff is a significant factor in the success of a business. Without exception, the biggest challenge in business is finding the right staff, retaining them, and ensuring they buy into the vision of the business. A small business is almost like a family, and, like many families, they can work well, or they can be dysfunctional. In big companies, the human resource challenge is politics in the workplace, while in small business, its personalities and skill. When you work in a small environment, each team member's personality can have a huge impact on the harmony and productivity of the business.
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