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Success Factors - Coggle Diagram
Success Factors
Cultural
Following in his predecessor’s footsteps
Australian culture
Innovation
Creativity
Digitising
Family
Groundwork was done for him by his brother
Family business background
Workplace
Focused on problem solving
Paying employees well
Creating positivity out of negativity
Flexibility
Clear communication and building trust
Shifting responsibility of specific tasks to other people
Empathetic, caring
Hiring more specialised staff when business grows
Thoughtfulness
Financial Management
Negotiating with suppliers
Investing in assets that make the business more successful
Investing insurance money into making the business better
Consumer Base
Low prices
Focus on good quality in budget brands
Knowing consumer base well
Allowing backordering
Meeting specific customer needs
Providing a positive shopping experience
Up to date with customers’ feedback
Personal
Knowledge of the market
Transferred knowledge into his business
Knowledge of what is important
Ambition
Stubbornness
Independence, Self-sufficiency
Leadership
Confidence / Commitment
Ruthlessness
Cautiousness
Strong vision and clear strategy (Well-planned)
Planning and organising for emergencies (perfectionist)
Clear goals
General knowledge of human behavior