Understanding Customer Types and Commercial Contracts
Customers
A customer is a person or company involved in a commercial transaction.
Client Classes
According to Distribution Chain
- Wholesale Customers
- Retail Customers
- Late Clients
According to Product Relation
- Impulsive Customers: Customers with no specific brand preference, choosing the first option available.
- Reflective Customers: Customers who spend time considering the purchase, focusing on value for money.
- Money-Conscious Customers: Customers prioritizing the lowest price.
- Emotional Customers: Customers
Cooperative Societies, Globalization, and Business Ethics
Cooperative Society
It is an association of individuals or legal entities with common interests and needs. They develop a specific business, and economic performance is attributed to members once community funds are served, depending on the cooperative activity performed. These societies create a common heritage with limited transferability and are non-profit.
Features
- The cooperative can be first, second, or further degree. In the first degree, the minimum number of members is 5, usually individuals.
Efficient Inventory Management: Strategies and Optimization
Inventories and Management
Procurement Function
The procurement function is to buy the materials needed for the company’s activity (production and/or sale) and store them while starting every process of production or marketing.
The overall objective of the procurement function is to provide the production department with the necessary materials (raw materials, spare parts, packaging…) for the manufacture and sales of the products you sell, and organize the different stocks generated in this process.
Read MoreFordism to Post-Fordism: Evolution of Production Models
Fordism: Origins and Development
Since 1804, England utilized a human chain, later mechanized (1883), for biscuit production for ships. The production demands of the World Wars led to Fordism’s widespread adoption. Fordism, a concept by Henry Ford (1863-1947), is a set of technological, economic, and sociopolitical ideas.
Key Features of Fordism
- Standardized parts and products to reduce costs and boost sales.
- Deskilling, worker concentration, and uniform working conditions.
- Mass production, homogeneous
Strategic Planning Essentials: Concepts and Implementation
1. Defining Business Strategy
Strategy is the pattern of organizational movements and management approaches used to achieve goals and fulfill the company’s mission.
2. Steps in Strategic Planning
Strategic planning involves:
A. Formulation: Developing the mission, identifying opportunities and threats, determining strengths and weaknesses, establishing long-term goals, and generating alternative strategies.
B. Implementation: Setting annual objectives, policies, motivating staff, and allocating resources.
Read MoreEffective Demand and Economic Growth Models
Principle of Effective Demand
1. Define the offering price and aggregate demand, according to the principle of effective demand.
The aggregate offering price is the expected results affordable to employers, considered as estimated labor costs. The price of aggregate demand is the expected proceeds from employing N men. D = f(N).
2. What determines global production and employment levels?
Production and employment are determined by the intersection of two functions of employment level N and the aggregate
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