Key concepts to successful business Essay

This essay has a total of 1437 words and 7 pages.

key concepts to successful business

It was a challenging task to write about only three concepts that I learned in this
informative class. The concepts that stood out to me were Learning Style Inventory,
preparation and delivery. I believe these concepts are critical aspects to a person's
success in the business world.

One of the concepts that I found to be very interesting was "The Learning Style
Inventory." "The Learning Style Inventory (LSI) describes the ways you learn and how you
deal with ideas in day-to-day situations." (Hay/McBer Training Resource Group, 1999, p.
2). The LSI is based on a test. The test contains twelve questions dealing with problem
solving, working with others, dealing with adversity, career decisions, and the effect of
relationships on individuals. Each question has four optional answers. The answers range
from one to four. Answering a question with a one is least like your style. Answer with a
four is most like your decision making style.

When I began the test, I read all the questions in order, before answering any of them. I
then went back to the questions that jumped out at me. I did not answer them from "least
like" to "most like." I answered them from "most like" to "least like." I tried to answer
the questions with how I do things in my everyday life. I did not only reflect upon
how I am at work, but also how I am at home with my family. Upon calculating my score and
completing my diagram, I began to see how one sided my learning style is.

There are four different learning modes. The first is Concrete Experience (learning from
experience). The second is Reflective Observation (thinking before doing). The third is
Abstract Conceptualization (analyzing information and forming a plan based on that
information). The fourth is Active Experimentation (learning by doing).

My score lead me to draw my diagram indicating that my learning style inventory is heavily
dependant on concrete experience and active experimentation. I found the theory behind the
test to be accurate. I believe that concepts and theories are not learned from books but
from experience. A theory is only that; a theory until you have tested the theory and
proven it to true or false.

One of the ideas that we practice in my line of work, is to have every customer take a
test drive. In theory, if you have an eighty percent demonstration ratio, than your
closing percentage, how many sales you make, will increase by five percent. One month I
decided to test out the theory for myself. In November of 1997, I talked to seventy-six
people. I took fifty-five of those people out on test drives. The result was I sold
fifteen cars. I had a closing percentage of twenty percent. In December of the same year,
I talked to the same number of people. This month, I took sixty-one people out on test
drives. I hit my goal of an eighty percent demonstration ratio. In turn, I sold nineteen
cars that month. The theory proved true. A five percent increase in sales did prevail, if
my test drive percentage was eighty percent. Every month, after that, I worried more about
how many customers I took on test drives knowing my sales would increase by doing so.

I found it explanatory to learn that my being an action oriented individual was a strong
character learning style for people in a sales based career. So many people have told me
that I am a natural at what I do. I now understand why.

One of the most important components of oral and written communication is preparation.
"Preparation alleviates apprehension and helps identify potential stumbling points in the
presentation." (Krizan, Merrier, Jones, 2002, p. 447). Without either one of these
components, it is near impossible to succeed in your career. Some career choices involve
more written communication while others involve more oral communication. In my chosen
career, as a sales representative, I use oral communication over written.

It is important to be prepared when making a presentation of any kind. Preparation leads
to a well-delivered presentation. The main purpose of an oral presentation is one of two
concepts. The first is to inform the audience of facts. The second is to persuade the
audience.

There are four styles of presentations; manuscript, memorized, impromptu, and
extemporaneous. As a sales person, I cannot use notes to help me persuade customers into
purchasing products and services. I use the combined styles of memorization and impromptu
speaking when making a presentation to my customers. I have memorized word track, product
specifications, and pricing information. I am also able to remain calm and think quickly,
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