business (noun, busi-ness, \ ˈbɪznəs \) drivers (noun, driv-ers, \ ˈdraɪvərz \)
Definition: are resources, processes, knowledge or conditions that are crucial for the continuous prosperity and growth of a company as they trigger and support its core activities. A company has to determine its business drivers to maximize the benefits they bring to its profitability. Additionally, there are several business drivers an enterprise can’t influence because they are a part of the external environment, leaving it no choice but to adapt to the circumstances they present (such as economic conditions in a specific country, or trade regulations with other nations).
In a Sentence:
- Now that our company has reached global status identifying our business drivers has become a nearly impossible process. That’s why next week we’re planning on ordering a software program that will help us keep track of them.
- Sadly, the trade relations between our country and Spain is one of the business drivers that are out of our control. Under current regulations, it’s no longer profitable for us to offer our products on that market.
Synonyms and related words: business objectives, business intelligence, supply chain management, business plan
