How you define the term ‘profit’ in terms of the changes that Hussain adopted to move one business to another Essay
Question 8: How you will define the definition of ‘profit’ in terms of the changes that Hussain used to move 1 business to another?
The term ‘profit’ that Hussain earned when he changed from a single to another organization is the response to success when he willing to take risks and risks. He started from zero wonderful creative organization minds become the step ladder of sucess to him. A lot of challenge that he had experienced make he became an excellent entrepreneur nowaday. He had battled very much to expand his business in other word to alter and overcome his miserable circumstances. You observe the ‘profit’ that Hussain gained by his small enterprise as chocolate’s hawker to became a great entreprenuer can be started with his first petty step.
Using the the business with selling delicious chocolate at the industry for first his business is because this individual want help his family. As the bread earner replaced his illness dad, he must search income to compliment basic requires of the relatives. He is lucky because although oman’s economic system grow by thelower level those time, his small enterprise still developing faster. However due to the growing price index, he had problems to make ends meet. This difficulty had bring him to another business which in turn gave him more income than the profit of candy sale.
He found a new avenues in operation by started out selling book. When he produced a comparison analysis involving the two item, chocolate and book, he realized that the proportion profit he gained selling off a book is extremely high than selling a chocolate. This individual use this very good opportunity to transform his business from a chocolate hawker to become a bookseller.
So , this individual gained even more profit. Using this changes, we can see the ‘profit’ that he previously gained by simply changing the merchandise. Then, Hussain not much longer selling delicious chocolate. He centered to the publication sale. He had found a new way of a successful business selling off book.
But , he faced difficulty to create many publication everyday and return with them the very next day. This situation leads him to obtain the alternaltive to solve this problem. Finally, he acquired a brilliant thought. He make up your mind to convert his late father’s steel workshop where are had rented becoming a bookshop.
This individual try to convince his granddad that idea and because his sophisticated method of looking at point differently produced his granddad proud and agree with him. So , husin managed to wide open his individual bookshop and it became the first bookshop in the town. he was the sole book seller at his village which situation got bring him to started to be a sucess book retailer at the community. So , we can see the improvement that he had made by change the way of his organization from a book hawker to became a great owner of bookshop. Hussain’s teacher experienced make he thought a brand new great idea.
That started when his teacher gave him a quest to buy some gifts with the market. hussain brought the mandatory gifts since his tutor order good results . a cheaper price. One other teacher learned about that and asked him to complete the same types. This condition made he feel that he should selling similar product while the instructor want.
This kind of idea provide him to provide products that had been used as gifts just like pens, pencils, notebooks and other school’s requirements. Since that, he shot to popularity not only for his university but likewise in other educational institutions. He capable of explore more opportunity in businees simply by convinced the college to buy coming from his bookshop. So , using this we can see that he was success in switching the bookshop concept to became more wide idea.
Hussain again change his business. He sold his bookshop with high price after that he opened a new company. He founded a new company for workplace supplies a little way away from the bookshop. This is a good tactics for him being a alternative to reduce the cost at once increase the income and salary.
Because the client of bookshop can not have the business obstacle, he failed and shut the bookshop permanently. Hussain closed the brand new office and reopened the bookshop. This individual relocated work that he had closed in the bookshop for serving from suppliers. But the bookshop still dished up individual customers.
So , customer can buy from the bookshop as well as, the wholesale buyers can see the product and test them just before placing buy. He can decrease the cost aid his function. Finally, hussain succeeded to convert his bookshop in a big firm for workplace supplies.
With all the new technology only entered the nation made his work more easier. He started provide fresh office equipment suah since printers, photocopies and other related devices to the customers. In that case, he became a major supplier of various stationery and business office suplies. His company was developed with incredibly advanced and he became an icon for command and entrepeneurial fields. You observe the excessive profit that hussain obtained when he convert his bookshop into a big company.
Intended for the conclusion, from this case, Hussain who is the Sultanate of Oman have proved that hardship get people to stronger. This individual proved that people can earned more revenue if they are wise in taking opportunity and willingness to adopt risks running a business.