Reflection Paper

Ernest and Young (EY) is one of the major companies that provide professional services in the auditing field of Greater China.  Many factors have always made success inevitable for them for over 50 years which they have been in operation. One of the reasons that EY has been successful is that it is always at par with the needs of their customers and seeks avenues to fulfill their desires. Various other factors inclusive of a dedicated workforce that can maneuver over a wide range of companies and audit services also account for the success of the organization over decades. 

Considering the competitiveness of the field where EY operates, the company must be dedicated to offering the best services that they could to their customers. One of the ways that an organization can be assured of offering the services that the client desires is by ensuring that they have an efficient workforce. In that aspect, therefore, EY has continually ensured a stable workforce that can be shared through various locations to meet the customers and offer the necessary guidance. With a workforce of more than 16,000 professionals, the organization serves a sufficient number of professionals to each client, and a fulfilling job is done thereby giving the organization a good reputation.

A primary reason why companies fail to grasp their desired market is the failure to realize that building confidence and lasting relationships are essential determinants of the lifelong success of a firm. EY is however conscious of the need to create trust which is the reason that they risk working with even smaller companies that are not well-known, understanding that they could incur losses in the process. However, in most cases, the small and underrated companies find EY a good partner and their confidence is built making the organization to build strong relationships with them while they still build relationships with bigger companies. Again, the company uses a different approach whereby instead of competing with other companies on price, they set fair and reasonable prices for their services that make them affordable to most of their clients which also builds a strong relationship since their affordability does not shortchange the qualities of the services that they offer.  

 In a technologically growing environment, EY has recognized the new advancements that are ongoing especially in their field of operation. The service line where EY operates is one that is quite sensitive as it is about financial management. Business assurance and tax do not just need professional knowledge but also requires the use of technology in the analysis. Therefore, EY has made technological advancements such as in process automation and use of data analytics. The consequential result of technology is higher employee satisfaction as their work is eased to a great extent and better output. Workers in the organization are also committed to lifelong learning, and the training at the organization is also of high quality. The adoption of technology in the organization has led to a subsequent increase in employee satisfaction and on-sight learning which altogether lead to better output and customer satisfaction.

Conclusively, EY is a company that has been successful over the years because of having peculiar business principles and approaches. A high number of professional workers, for instance, ensure that they reach out to all their clients and serve them adequately and provide quality output. Building confidence with even small and large companies has also built lasting relationships thereby keeping all their clients. Lastly, by adopting technology in the business practice has eased the work done by the employees making them more satisfied and increasing their output. Using the same approaches, EY is likely to grasp a more substantial part of the Chinese market in their field of practice.