Report on Market Share, Business Philosophy and its Impact

This report delves into the concepts of market share and business philosophy, crucial elements in business strategy. Market share, defined as the percentage of a market controlled by a company, is examined as a key indicator of performance and competitiveness, particularly in industries with fungible products. The report highlights how increases in market share directly correlate with sales volume. The business philosophy, encompassing a company's beliefs, mission, and vision, is presented as a predictor of profitability, guiding the company's objectives and strategies. The report emphasizes the importance of a clear business philosophy in achieving company goals, supported by references to relevant academic research. The assignment provides a comprehensive overview of these essential business concepts.

Market share & Business philosophy

Market share
Market share is defined as the percentage of a market which is accounted by the particular entity.
The maximization of market share is the objective of the company. The market share is
considered as the measure of company performance because it is least dependent on the variables
of macro environmental for example alteration in taxation policies (LILIENFELD‐TOAL et al.,
2014). The increment in market share is hazardous for the manufacturer of fungible products
which are sold in the market of the United States. It is the key indicator of market
competitiveness because it reflects the performance of the company among its competitors in the
same industry. The increase in market share directly impacts on the sales volume of the
company.
Business philosophy
The business philosophy is defined as the set of beliefs and principles of the company on which
the work strives. It is also known as the mission and vision of the company. It explains the goals
and objectives of the company. The clear philosophy of the company is very necessary which
helps to works towards the ends goals to be achieved by the company. The business philosophy
is a good predictor of profitability because it defines the mission and vision of the company on
which the company strives towards to achieve (Poulsen et al., 2013). The success of the company
is directly dependent on the mission and vision set by the company because the company works
to achieve the mission and vision within the particular period of time.

References
LILIENFELD‐TOAL, U. V., & Ruenzi, S. (2014). CEO ownership, stock market performance,
and managerial discretion. The Journal of Finance, 69(3), 1013-1050.
Poulsen, A. N. D. E. R. S. (2013). Why Future Business Leaders Need Philosophy. Rethinking
Management Education.