With the development of the Internet in the last twenty years, the nature and manner in which business transactions and interactions with customers are carried out has undergone a sea change. In its early days, the Internet was used solely for purposes of communication. But in recent years the role and scope of the Internet…
Category: Business
What are the business advantages of using voice over IP (VoIP) technology?
Voice-over IP (VoIP) technology confers a whole host of advantages to businesses using them. Foremost among its benefits are its cost-effectiveness. Using this technology is much cheaper compared to conventional telephone lines, especially when it comes to long-distance communication spread across countries and continents. In fact, the total cost of setting up and deploying VoIP…
Article Review: Time to Create Sound Teamwork by Diane Bandow
The article titled Time to Create Sound Teamwork by Diane Bandow talks about the importance of teamwork for running businesses successfully. Lack of teamwork within an organization can cost a lot more than what is obvious, for lack of trust and understanding in relationships between team members can decrease performance levels, inflate production cycles, and…
The nature of personal selling and the role of the sales force
Sales are an important part of a company’s operations, for it is success in this department that enables it to reap profits. Depending on the nature and market for a particular product/service, the strategy of sales would also differ. Usually, salespeople acquire a dodgy reputation for being glib talkers and for selling products to customers…
Do MNEs migrate to green policy only when forced by government regulations?
One of the persistent debates in recent years is whether business corporations should be tightly regulated to conform to environmental preservation standards. Also referred to as the green movement, some corporations have voluntarily proposed and adopted these standards as a way of showing their public responsibility. Critics argue that such moves are largely public relations…
The major differences between discount stores and off-price retailers
The retailing industry is one of the biggest in the United States. Retailing includes “all activities involved in selling products or services directly to final consumers for their personal, non-business use. Many institutions – manufacturers, whole-salers, and retailers – do retailing. But most retailing is done by retailers: businesses whose sales come primarily from retailing”….
The Five Types of Customer Markets
Customer markets can be broadly classified into five types. The first is the consumer market, “which consists of individuals and households that buy goods and services for personal consumption”. (Part 2, p.66) Within this category several sub-types exist. Fast-moving Consumer Goods (FMCGs) is one type of consumer market. These are generally high volume, low unit…
Comparing pure competition and oligopolistic competition
Competition is generally a healthy phenomenon. Its presence ensures that prices set for products and services are fair and reasonable. Although factors such as supply-and-demand, market position, brand value, etc influence the price set for a product/service, it is competition that fine tunes the price to existing demand. In its absence, monopolies or cartels could…
The five supply-chain strategies
Supply Chain Management (SCM) has become an integral part of many manufacturing companies’ production processes. SCM came to be recognized as crucial to the success of a business especially if there is high competition within the industry and room for inefficiencies are low. First pioneered by Japanese automobile companies like Toyota, SCM is essential in…
Do we need American hegemony to build and maintain the global capitalist economic order?
In the era past World War II, America established itself as one of two superpower nations. With the Soviet Union providing counterbalancing power, America waged a diplomatic war (Cold War) to assert and spread its ideological content. This ideological confrontation manifested in two forms: 1. between communism and liberal democracy, 2. between socialism and capitalism. …