Tag : is

Workforce Magazine, Your Human Resources Resource, what is business.#What #is #business


what is business

This month has been a rough month in the business news space, with sexual harassment in the spotlight and open enrollment stressing people out in both the individual and employer markets. I’m working on a separate post about open enrollment

What is business

9.8 Million Reasons to Consider Transferring a Disabled Employee to a Vacant Position

Earlier this month, American Airlines agreed to pay $9.8 million to settle a disability discrimination lawsuit brought by the EEOC. The agency claimed that the employer’s return-to-work policy — which allegedly refused to consider transfers to open positions for disabled employees, but

What is business

Sector Report: The Pressures of Financial Wellness

For a lot of American workers, dealing with personal finances is a lot like the anxiety they feel about going to the dentist: they know it would be better to go and get it over with but the fear of

What is business

Employees Use InDays to Improve the World Around Them

On the third Friday of every month, a LinkedIn employee somewhere around the world may be telling young

What is business

More Employers Are Dropping Domestic Partner Benefits

The legalization of same-sex marriage was a win for civil rights but it could mean lost health care coverage for some American couples as more employers drop domestic partner coverage. In 2016, the year after the U.S. Supreme Court legalized

What is business

Coming to Grips With the Effects of an Automated Nation on Workplaces

Automation technology will create 14.9 million new jobs in the next decade, with automation creating jobs equivalent to 10 percent of the workforce through 2027, according to a Forrester report published in April. Michael Chui, partner at the McKinsey Global



What is Business Report? Characteristics of Business Report – Business Communication #at

#business reports

#

What is Business Report? Characteristics of Business Report

What is Business Report or, Definition of Business Report, Meaning of Business Report-When a report is written for business purpose, it is called business report. It is a little bit different from other reports. It deals with business related information. A business report is prepared containing business related information that assists the management to take better decisions. Some definitions on business report are given below-

What is Business Report

  • According to Lesikar and Petit. “A business report is an orderly, objective communication of factual information that serves some business purpose.”
  • Boone and Other said, “A business report is a document that organizes information and a specific topic for a specific business purpose.”
  • According to Murphy and Hildebrandt. “A business report is an impartial, objective, planned presentation of a fact to one or more persons for a specific, significant business purpose.”

So, a business report can be defined as an organized, written statement of facts related to specific business matter. It helps the interested persons to get insight into the problem and to overcome the problem. Business Communication

Characteristics of Business Report

Business reports carry information on facts related to business activities. The very nature of business report differentiates it from other reports. The unique characteristics of business report are discussed below-

  • Specific Issue. Every report, including business one, is written on specific subject. It is written to fulfill certain need.
  • Pre-Specified Audience. An important characteristic of report is that it has a pre-specified audience. Usually a report is written for a limited number of audiences and the need of the audience is always kept in mind.
  • Specific Structure or Layout. In preparing report, certain structure or layout or format is followed. The layout or structure of report is almost same in every case.
  • Written on Past Events. In most of the cases, the reports are written on past events. Most of the business reports carry the reasons of happing the incident, the ways of recovery etc. Reports are also written in past forms.
  • Neutral in Nature. In drafting reports, impartiality it strictly maintained. No biased or non-objective material is included in it. Biased report may lead to disastrous decisions.
  • Factual Information. Business report is always written based on factual information. The data collected on specific events is factual, not factious.
  • Joint Effort. A report is an outcome of joint efforts of a group of people. No one can personally or solely prepare a report. Now-a-days, in most of the cases, committee is formed containing three to seven people for furnishing a report on certain incident.
  • Orderly Presentation. The information of a report is presented orderly so that the audience can get his needed information from where it is located.
  • Upward Flow. The direction of a report is always upward in the organizational structure. The higher authority normally assigns the duty of preparing reports to their immediate lower authority and after preparing the report, they submit it to their boss or higher authority.
  • Some Additional Aids in Presentation. A report is always presented in an attractive way. In addition, analytical reports contain executive summary, contents and index, necessary charts, graphs and design and conclusion and recommendation etc.
  • Signature and Date. It is customary to put the signature of the reporter with date at the end of the report. If it is prepared by a committee, signature must be given by each member of the committee.

From the above discussion it is found that business report has some unique characteristics. Its helps the respective business people to take pragmatic decisions in specific business areas. There is more information about How to Overcome Communication Barriers in Business .

Related Posts

What is Report. A report is a description of an event carried back to someone who was not present on the scene. It may be defined as an organized statement of facts related to a particular subject prepared after an investigation is made and presented to the interested persons. Report

Tags: report, business, definition

What is a Business? definition of business and Scope of business. Business could be a term with a really wide which means. It refers to an activity of individuals operating for the aim of manufacturing and distributing product and services at a profit. An enterprise creates utilities by production of

Tags: business, definition

What is Business Meeting. Meeting is one of the major media of oral communication. In general sense a meeting is a gathering of two or more persons with the view of making decisions through discussion. It is an assembly of people does decide on some preset issues. Definition of business

Tags: business, definition

What is Business communication -business communication is a specialized branch of general communication that is specifically concerned with business activities. Generally, when communication takes place between or among parties regarding business-related functions, it can be termed as business communication. But the process, methods, types, principles etc. remain almost same with

Tags: business, definition

What is Market Report or, What is marketing report? A market report is a kind of report which contains the information regarding the overall market situation of a product of a group of products or service. It reflects the market condition of a product or service in terms of its

Tags: report, definition



What Is Business Environment? Definition & Factors – Video & Lesson Transcript

#business environment

#

What Is Business Environment? – Definition & Factors

Businesses do not operate in a vacuum; they operate in an environment. In this lesson, you’ll learn about the business environment, including what makes it up. A short quiz follows the lesson.

Business Environment Defined

Business environment is the sum total of all external and internal factors that influence a business. You should keep in mind that external factors and internal factors can influence each other and work together to affect a business. For example, a health and safety regulation is an external factor that influences the internal environment of business operations. Additionally, some external factors are beyond your control. These factors are often called external constraints. Let’s take a look at some key environmental factors.

External Factors

Political factors are governmental activities and political conditions that may affect your business. Examples include laws, regulations, tariffs and other trade barriers, war, and social unrest.

Macroeconomic factors are factors that affect the entire economy, not just your business. Examples include things like interest rates, unemployment rates, currency exchange rates, consumer confidence, consumer discretionary income, consumer savings rates, recessions, and depressions.

Microeconomic factors are factors that can affect your business, such as market size, demand, supply, relationships with suppliers and your distribution chain, such as retail stores that sell your products, and the number and strength of your competition.

Social factors are basically sociological factors related to general society and social relations that affect your business. Social factors include social movements, such as environmental movements, as well as changes in fashion and consumer preferences. For example, clothing fashions change with the season, and there is a current trend towards green construction and organic foods.

Technological factors are technological innovations that can either benefit or hurt your business. Some technological innovations can increase your productivity and profit margins, such as computer software and automated production. On the other hand, some technological innovations pose an existential threat to a business, such as Internet streaming challenging the DVD rental business.

Internal Factors

Organizational culture is the framework of values, vision, norms, and customs shared by the members of an organization. Your business culture affects how the employees in your business interact with each other, its customers, and other stakeholders.

Unlock Content

Over 30,000 lessons in all major subjects

Get FREE access for 5 days,
just create an account.

No obligation, cancel anytime.

Select a subject to preview related courses:

Organizational structure is the manner in which the business is organized to conduct its activities. Organizations can be organized fairly flat, with very few levels of hierarchy, or organized very vertical, with many levels of hierarchy. The manner in which an organization is structured will affect how your business is managed and how much control individual employees have over their work.

Management structure is the manner in which your business is managed. Management may be centralized, where all decision-making is made at the top and filtered down throughout the business, or it may be decentralized, where the decision-making is distributed throughout the organization and decisions are made closer to the relevant work activities or problems.

Lesson Summary

Business environment includes the external and internal factors that influence a business. External factors include political factors, macroeconomic factors, microeconomic factors, social factors, and technological factors. Internal factors are factors from inside the organization that affect a business, such as organizational culture, organizational structure, and management structure.

To unlock this lesson you must be a Study.com Member.
Create your account

Earning College Credit

Did you know We have over 49 college courses that prepare you to earn credit by exam that is accepted by over 2,000 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.

Transferring credit to the school of your choice

Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that’s right for you.

Research Schools, Degrees Careers

Get the unbiased info you need to find the right school.

Browse Articles By Category


How Much Money Is Needed for a Car Wash Business? #business #data


#car wash business

#

Small Business

How Much Money Is Needed for a Car Wash Business?

Although a car wash may be a lucrative business earning as much as $900,000, according to Entrepreneur magazine, it is a business that requires thorough research, a lot of initial work and a large investment. This investment is dependent on the type and size of car wash you decide to build and whether you already have the property lot or not. Building a car wash can take approximately six months to complete, so you need money for administrative and other business expenses for the time you are working but not making any revenue.

Location

If you don t already have a location for the car wash, you need to purchase a vacant lot, as this will save you the extra expense of tearing down any built construction. The cost of this lot will vary depending on the size and its location. Preferably, you want to find something on a busy street near a large department store, strip mall and several residential neighborhoods. Because real estate in high-traffic areas is more expensive, expect this type of property to be more expensive than in other areas but also more profitable. Although this cost varies significantly from location to location and state to state, generally expect to pay at least $3 per square foot.

Construction

The car wash cost is also influenced by the construction size and type. The average construction is about 1,000 square feet but can be as large as 2,500 square feet. Although cost is a factor when deciding on the size of your construction, a more important consideration should be your potential growth. It is best to start with a construction facility larger than your needs, as this gives you room to grow or expand into other areas within the car wash industry. To get a better idea of the cost of construction, consider using prefabricated car wash construction builders, or consult local architects with car wash building experience to get an estimate on construction. Under-building your car wash results in a longer time for you to recoup your initial investment and opens an opportunity for a competitor to take away your customers by building a larger and nicer facility.

Equipment

To plan your budget as accurately as possible, consider the costs of equipment which, according to Inside Self-Storage, can have an approximate cost of $30,000 to $40,000 per bay, depending on the climate and state. However, this is just a general guideline and the cost of this equipment varies depending on the brand, the type of equipment and whether you are building an automatic or self-serve car wash. The best way to assess the equipment cost is to contact various local equipment distributors and compare prices for the equipment you want. Contact distributors through websites like Car Wash Distributors, Car Wash Network or A-OK Equipment. Also look through trade magazines such as Auto Laundry News, Professional Distributor or Modern Car Care to find equipment options and distributor options.

Cost Estimate

A car wash involves the cost of the lot, equipment and building construction. Some owners may be able to start with an initial investment capital of approximately $100,000 providing they already own the land where the car wash is built. Otherwise you can expect to invest approximately $80,000 per bay including the cost of the lot and the building construction.



Ailes is out as Fox News head, Murdoch named acting chief #what

#fox news business

#

Ailes is out as Fox News head, Murdoch named acting chief

NEW YORK (AP) — Roger Ailes is out as chief executive at Fox News Channel, his career at the network he built from scratch and ran with an iron hand for nearly 20 years over with stunning swiftness following allegations that he forced out a former anchor after she spurned his sexual advances.

Network parent 21st Century Fox said Thursday that Rupert Murdoch, the company’s executive chairman, would run Fox News and its sister Fox Business Network, which Ailes had also led, until a successor could be found.

Murdoch and 21st Century Fox did not address the widening scandal in the statement on the resignation but lauded Ailes for his contributions. Ailes did not comment in the resignation announcement.

“I am personally committed to ensuring that Fox News remains a distinctive, powerful voice,” Murdoch said. “Our nation needs a robust Fox News to resonate from every corner of the country.”

Cutting short a vacation, the 85-year-old Murdoch addressed Fox News employees in New York on Thursday. Details were not given on the settlement agreement for a contract that was supposed to run through 2018, but Ailes is expected to get a payment of at least $40 million.

Ailes will have no formal role in the company, but is expected to serve as an informal adviser to Murdoch, said a person familiar with the agreement who spoke on condition of anonymity because it is a personnel matter. The deal is also said to have a standard no-compete clause.

Fox is heading into a general election campaign in its customary spot at the top of the ratings, but without the man who sets its editorial tone every day. The announcement came on the day Donald Trump is to accept the GOP nomination for president, a speech likely to be watched by more people on Fox than any other network.

The blustery, 76-year-old media executive built a network that both transformed the news business and changed the political conversation. Fox News Channel provided a television home to conservatives who had felt left out of the media, and played a part in advancing a rough-and-tumble style of politics that left many concerned that it was impossible to get things done in government.

Ailes’ downfall began with the July 6 filing of a lawsuit by Gretchen Carlson, who charged that he sabotaged her career because she refused his suggestions for sex and had complained about a pervasive atmosphere of sexual harassment at Fox. Ailes has denied the charges, but 21st Century Fox hired a law firm to investigate.

In a statement, Carlson’s attorneys credited Carlson’s “extraordinary courage” with causing “a seismic shift in the media world.”

Several Fox employees jumped to Ailes’ defense, but notably not Megyn Kelly, one of Fox’s top personalities. In rapid succession, it was reported that Kelly was among other women who had told investigators about harassment — again denied by Ailes — and that corporate heads Rupert Murdoch and his sons, James and Lachlan, determined that Ailes had to go. The company has no plans to make results of its investigation public.

Within two weeks of the court filing, Carlson’s lawyers also said more than 20 women had contacted the firm with stories of alleged harassment by Ailes either against themselves or someone they knew. Two came forward publicly.

Before the charges, Fox’s sheer success had insulated Ailes despite some previous scrapes with the Murdoch sons over who he would report to. Fox News Channel is the parent company’s single most important property, said Pivotal Research Group analyst Brian Wieser, with some estimates that it accounted for nearly a quarter of the company’s profits.

Ailes was a prominent Republican media consultant who later ran CNBC before Murdoch asked him to create a cable news network to compete with CNN at the same time MSNBC was starting. Ailes’ slogans, “fair and balanced” and “we report, you decide,” appealed to an audience that believed mainstream outlets didn’t live up to those promises.

“He was ahead of his time in recognizing that dividing, not uniting, an audience would be the key to commercial success in the 21st Century cable news business,” said Matt Sienkiewicz, communications professor at Boston College. Ailes blew apart the notion that public affairs programming should target a broad audience with civil debates, he said.

Ailes hired a combative broadcast journeyman in Bill O’Reilly and turned him into the star of an opinionated prime-time lineup. He directed news coverage and emphasized issues like the so-called “war on Christmas” or the Benghazi investigation that otherwise got little attention. Republican politicians considered Fox the first stop for reaching their intended audience, and they learned to talk tough. “We’re not going to be defensive about anything,” Ailes said at the network’s launch.

“It is always difficult to create a channel or a publication from the ground up and against seemingly entrenched monopolies,” Murdoch said on Thursday. “(Ailes’) grasp of policy and his ability to make profoundly important issues accessible to a broader audience stand in stark contrast to the self-serving elitism that characterizes far too much of the media.”

He was also a showman. Fox had flashier graphics, brighter colors and a vitality its staid rivals lacked. The daytime show “Outnumbered” is a classic Ailes concept: four women in dresses, their legs prominently displayed, debating issues with a single male panelist.

In 2011, Ailes told The Associated Press that he hired Sarah Palin as an analyst — a decision that later gave him headaches — “because she was hot and got ratings.”

Ailes demanded and usually received loyalty from a team that knew there could be hell to pay otherwise. When Paula Zahn left Fox for a job at CNN, Ailes retaliated by saying that a dead raccoon could have done her show and gotten the same ratings.

Critics scoffed at Ailes’ promise that he’d lift Fox to first place. By 2002, he did, and Fox hasn’t looked back.

Ailes groomed no obvious successors, and has been so identified with the brand that many have a hard time envisioning the network without him. Will his successor lack Ailes’ political instincts, or tone down aggressive opinion? That could make Fox more broadly palatable, but also risks alienating the audience that has grown to love Fox and made it such a success.

Murdoch said Fox managers Bill Shine, Jay Wallace and Mark Kranz will assist him in day-to-day management of the network. Long-term, CBS News President David Rhodes is well-regarded and worked at Fox in the past. The Murdoch sons may also seek to make a statement by reaching outside the current Fox News culture.

“Whoever invented the Coca-Cola formula has long since passed this Earth, but the brand keeps selling because people like the taste,” said Mark Feldstein, a journalism professor at the University of Maryland. “I think that’s how it’s going to be with Roger Ailes. He invented this winning formula and all you have to do is not mess with it too much and it will continue to mint money for you.”

Documentary filmmaker Robert Greenwald, who made 2004’s “Outfoxed: Rupert Murdoch’s War on Journalism,” said he hopes the younger Murdochs will take this moment to change the network’s philosophy.

“I certainly think that some of the hatred and anger and racism and fear that we’re seeing in this election has clearly and absolutely been stoked and stroked by Fox News,” he said. “Once he’s gone, I hope the younger Murdochs will attempt to take an approach in which it does become a news outlet rather than a propaganda outlet.”

But Fox would have to tread carefully to not alienate a loyal audience who will be concerned this news could change its favorite outlet.

“We’re not going to see any quick changes,” said Ken Doctor, a media consultant for Newsonomics and Politico. “That would be foolish from a business point of view.”

While ratings are soaring in an election year, a newly aggressive CNN is making inroads among younger viewers that advertisers seek. Fox faces the challenge of trying to inject youth into an audience that is among the oldest in television, and viewership is expected to inevitably fall without the excitement of a campaign.

The network has also been remarkably stable, with personalities bonded from loyalty to Ailes. O’Reilly has recently mused about retirement, and he and Sean Hannity reportedly have contract provisions that would allow them to leave if Ailes does. Kelly’s contract ends later this year and it would be a huge blow to the network if she left.

AP Television Writers Frazier Moore in New York and Lynn Elber in Los Angeles and Business Writer Tali Arbel in New York contributed to this report.



What is a business name? #side #business #ideas


#business name

#

What is a business name?

A business name is a name or title under which a person or entity conducts a business.

Watch our YouTube video about What is a business name and how to apply for one.

When should I register a business name?

You will need to register a business name if you carry on business within Australia and are not trading under your own name.

Exceptions to this include:

  • if you are operating as an individual and your operating name is the same as your first name and surname
  • if you are in a partnership and your operating name is the same as all the partners’ names, or
  • if you are an already registered Australian company and your operating name is the same as your company’s name.

The law does not allow any changes from the business holder’s name if you wish to rely on the above exemptions. For example, if your name is John Smith, and the name of your business is ‘John Smith Co’, you will need to register the business name ‘John Smith Co’.

If you are unsure about whether you need to register a business name, look through the examples in Regulatory Guide 235 .

What a business name registration does not provide

Registering a business name does not provide exclusive ownership of your business name. It also doesn’t prevent other people from being able to register and use similar names.

To gain exclusivity over a particular business name, you need to register it as a trade mark with IP Australia .

Related links



What Is Business Networking, Anyway? #loan #for #small #business


#business networking

#

What Is Business Networking, Anyway?

Founder and Chief Visionary Officer of BNI

Business networking is leveraging your business and personal connections to bring you a regular supply of new business. The concept sounds simple, doesn t it? Don t let that fool you, though. Because it involves relationship building, it can be a deceptively complex process.

Think about it. How many people do you know? How many of these people truly understand what you do? How many of these folks have directed prospects to you as referrals? And how many of those referrals have actually turned into business?

Business networking is much more than showing up at networking functions, shaking a
lot of hands and collecting a bunch of cards.

For example, imagine two people attending an event, sizing it up and drawing an imaginary line down the middle. They separate, each taking half the room. At the end of the event, they meet again to see who s collected the most business cards.

Have you met these people? Sure you have. We all have. What did they accomplish? They collected a lot of cards that will end up on a shelf, in a drawer, in the trash, or–worse yet–scanned into a computer so they can spam everyone they just met. Why? What does a business card represent? It s a piece of paper, with ink and images on it. No relationship has been formed. This networking strategy, by itself, isn t an effective use of time, money or energy.

Some people get frustrated with networking because they seem to be making as much progress as a rear-wheel-drive truck on an icy hill: one foot forward, 10 feet back–getting nowhere fast.

Networking for business growth must be strategic and focused. Not everyone you meet can help move your business forward–but everything you do can be driven by the intention to grow your business. You have total control over whom you meet, where you meet them and how you develop and leverage relationships for mutual benefit. You have total control over whether you enter into the unique 29 percent of the population that is separated by six degrees (read The 29% Solution to learn more), whether you stay there, or whether you never get there at all.

Networking your business means you have to be proactive. The core of networking is doing something specific each week that is focused on networking for business growth. Make a plan, focus and be consistent. When you understand exactly what business networking is and step up to the challenge, you ll find avenues of opportunity that you may have otherwise never discovered, and you will be making an invaluable investment in the steady growth of your business.

Copyright 2016 Entrepreneur Media, Inc. All rights reserved.



What is business process? Definition from #stock #markets #today


#business process

#

business process

A business process is an activity or set of activities that will accomplish a specific organizational goal. Business process management (BPM) is a systematic approach to improving those processes. If an organization is unable to perform certain business processes internally due to cost or resources, the company might utilize business process outsourcing (BPO). Many organizations contract specific business tasks, such as payroll, human resources (HR) or accounting, to a third-party service provider.

Download this free guide

Download 9 FREE Strategic Planning Templates that your Peers Already Use

Having a clear-cut IT strategy is key establishing a competitive advantage over any competition. It can be the difference maker between a business’ success and its failure. Reach your business goals and stay organized by downloading this FREE e-guide which includes 9 templates already in use by major organizations such as NASA and Brown University.

By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.

You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy .

To measure success of a business process, organizations track successful completion of different steps within the process, i.e. benchmarks. or reaching the end point of the process. When a business process is not helping an organization reach a goal within timeline or with the resources at hand, there are a number of strategies to execute for improvements. Business process mapping is often undertaken as an exercise during business process re-engineering and process transformation to improve a maybe unsuccessful business process. Organizations might also focus on business process visibility to identify issues in process performance or execution.

Business processes categories

Depending on the organization, industry and nature of work, business processes are often broken up into different categories. Categories include:

  • Operational processes (or primary processes): Operational or primary processes deal with the core business and value chain. These processes deliver value to the customer by helping to produce a product or service. Operational processes represent essential business activities that accomplish business objectives, e.g. generating revenue. Some examples of this include taking customer orders and managing bank accounts.
  • Supporting processes (or secondary processes): Supporting processes back core processes and functions within an organization. Examples of supporting or management processes include accounting, HR management and workplace safety. One key differentiator between operational and support processes is that support processes do not provide value to customers directly.
  • Management processes: Management processes measure, monitor and control activities related to business procedures and systems. Examples of management processes include internal communications, governance. strategic planning. budgeting, and infrastructure or capacity management. Like supporting processes, management processes do not provide value directly to the customers.

Business process mapping or modeling

Business processes are often depicted visually with a flowchart showing a sequence of tasks with certain benchmarks or decision points. Business process mapping or modeling illustrates pictorially, through graphs and charts, how certain processes flow into others.

There a few different ways to think about business process mapping and workflow :

  • Sequential business process. Sequential business processes are outlined on a document with clear start and end points. When following this process map, an organization performs the series of actions in order to complete the task within the constraints of a predetermined timeline.
  • Status-driven business process. A status-driven business process doesn’t have strict start and end points. These processes can finish at any stage depending on workflow changes, nature or production or the office culture. Also, it is typical for status-driven processes to recur or cycle on the same step in the process.
  • Parallel business process. When activities in a business process are executed in parallel, they are carried out simultaneously. In this type of business process execution, the activities on all branches must be completed before the next step in the business process can commence.

This was last updated in June 2016

Continue Reading About business process

Related Terms

CEO and other C-suite executive titles The CEO, or chief executive officer, is part of the C-suite. Other C-suite executive titles include the chief financial officer. See complete definition innovation management Innovation management is the process of managing an organization’s innovation procedure, which helps increase competitive. See complete definition product development (new product development, or NPD) Product development, or new product development (NPD), is the process of bringing new or updated products or services to a target. See complete definition

PRO+

Content



Business-to-Business (B2B) Definition – What is Business-to-Business (B2B) #comcast #business #phone


#business to business

#

Business-to-Business (B2B)

What is Business-to-Business (B2B)?

Business-to-business B2B refers to commerce between two businesses rather than to commerce between a business and an individual consumer. Transactions at the wholesale level are usually business-to-business while those at the retail level are most often business-to-consumer (B2C).

Recognizing Business-to-Business

The dollar value of business-to-business transactions is significantly higher than business-to-consumer activity because businesses are more likely to purchase higher priced goods and services and purchase more of them than consumers are. A bicycle manufacturer, for example, will purchase a truckload of bicycle tires or a coffee manufacturer will buy a massive, industrial bean grinder. Compare that with what s purchased by a biking enthusiast or the individual coffee aficionado.

How Business-to-Business Selling is Different

Selling to a business is different from selling to an individual consumer. Key sales and marketing differences for business-to-business transactions include:

  • Selling sometimes requires participating in a bidding process by responding to a purchaser s request for proposals. On the business-to-consumer side, this compares to asking various auto dealers to provide their best offer on a specific make and model.
  • The decision-making process on a purchase can take days, weeks, or months, depending on how the purchasing company works and the size and nature of the order.
  • Purchasing decisions are often made by committees, so each member needs to be educated and sold.
  • The dollar value of goods or services sold is much higher than on the consumer or retail level, so the buyer needs to take steps to minimize risk. That sometimes involves requesting a product prototype or customization.

Business-to-Business Doesn t Exclude Business-to-Consumer

A company selling to businesses can also sell directly to consumers. A bead manufacturer selling its beads in bulk to costume jewelry manufacturers might also package them in smaller quantities sold to crafters at craft stores. A telephone manufacturer can sell in bulk to companies or one at a time to consumers shopping online or at an office supply store. A firm that provides health and wellness consulting to corporations can also advise individuals one-on-one or in group presentations.

It s About the Customer, Not the Transaction Size

While business-to-business transactions often involve high prices and volume, they can also happen on a much smaller scale when a small business sells products or services to another small business. The hallmark of business-to-business commerce then, is the participants two businesses rather than a business and a consumer.

Join 220,911 entrepreneurs who already have a head start.

Get free online marketing tips and resources delivered directly to your inbox.

Check your email and confirm your subscription



Fun For Kids – What is the Stock Market? #business #mentor


#the stock market

#

What is the Stock Market?

The stock market is an everyday term we use to talk about a place where stocks and bonds are traded meaning bought and sold. For many people, that is the first thing that comes to mind for investing. The goal is to buy the stock, hold it for a time, and then sell the stock for more than you paid for it.

How long do you hang on to stock? Investors who hold stock for 15 years or more usually succeed in the market. Stocks are long-term investments. But there are no guarantees.

What are stocks?

Stocks are units of ownership in a company.

Companies sell stock to get money to

  • Research better ways to make things
  • Create new products
  • Improve the products they have
  • Hire more employees
  • Enlarge or modernize their buildings

So just as the federal government sells bonds to raise money, businesses raise money by selling stock.

How it works

When you buy stock, you become a shareholder. which means you now own a part of the company. If the company’s profits go up, you share in those profits. If the company’s profits fall, so does the price of your stock. If you sold your stock on a day when the price of that stock falls below the price you paid for it, you would lose money.

Stock prices can rise and fall

In the stock market, prices rise and fall every day. When you invest in the stock market, you are hoping that over the years, the stock will become much more valuable than the price you paid for it.

Copyright 2016 Northwestern Mutual
720 East Wisconsin Ave. Milwaukee, WI 53202 | Privacy Statement | Contact Us