First, Successful componies have stilled people at all levels inside the company, including (1) leaders who develop and articulate sound strategic visions; (2) managers who make value-adding decisions, design effecient business processes, and train and motivate work forces and (3) a capable work force willing to implement the company's strategies and tacties.
Second, Successful companies have strong relationship with suppliers, who then deliver high-quality materials an time and at a reasonable cost. This is particulary true in the areas of information technology and logistics. Successful companies also excel in customer relationship management- leading to repeat sales, higher profit margins, and lower costs to acquire new customers.
Third, Successful companies have enough capital to execute their plans and support their operations. For example, most companies need cash to purchase land, buildings, equipment, and materials. Companies can reinvest a portion of their earnings, but most also raise additional funds externally, by some combination of selling stock and/or borrowing in the financial markets.
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