WHAT IS INSURANCE? This is a contract whereby a party known as the insurer undertakes, in consideration for a sum of money known as premium paid by the insured, to pay a sum of money or its equivalent on the happening of a specified future event. The insurance contract is a contract like any other, …
10 Important Principles of Insurance to Remember Read More »
Business agreements are often summed up in contract or commercial agreements, as they can at times be referred to. There are a number of things to look for in a contract since these agreements are legally binding and the parties can use this fact to minimize their risks. Before looking at the things to look …
Knowing how to make offers in business transactions is a big part of getting what you want out of the deal. WHAT IS AN OFFER? An offer is an expression of willingness to get into a contract on definite terms if those terms are accepted. This is important because by accepting the other party’s offer …
THE THING ABOUT QUOTATIONS Quotations are typically used when price is the only variable. In procurement and supply parties don’t just get into contracts. There are some inquiries that take place before deals are struck and learning how to use quotations make the process easy. With quotations, the buyer describes what they wish to buy …
It is important to know when to walk away from a negotiation. If you know when to walk away from a negotiation, you will have established Best alternative to negotiated agreement (BATNA). The advantage to knowing this is: It helps you to be more assertive since it can be used a leverage Prevents you from …
HOW TO KNOW WHEN TO WALK AWAY FROM A NEGOTIATION Read More »
How to make money with skillshare is something you need to find an answer to if you are a content creator or a teacher or anyone who wants to earn a living. You see we live in an economic world and most things we need to survive depend on a medium of exchange which is …
Communication strategies in a business depend on what the business aims to achieve, for instance, strengthening the brand, creating awareness, getting leads, knowing what clients want. The point is there are many advantages of proper communication in a business. Your communication strategies only work if they are clear and understood by all the parties involved. …
HOW TO SUCCEED IN YOUR BUSINESS COMMUNICATION STRATEGIES Read More »
Communication cycle expresses the cyclic nature of communication. You just don’t send information and assume that communication has taken place. Communication can be simplified as a process of passing information from one person to another, basically a sender and a receiver, with an aim of creating understanding. This is why feedback in communication is important, …
Communication in business is important because the results of your operations don’t mean much if the world has no idea that you exist or your team has no idea what kind of results you are interested in. WHAT IS COMMUNICATION A simple communication definition is “the process of passing information from one person to another …
Operations management and supply chain are key to running your business if you intend to make any profit. What is supply chain? A supply chain is a group of partners who collectively convert a basic commodity into a finished product that is valued by end-customers, and who manage returns at each stage. This whole process …
FOCUS ON OPERATIONS MANAGEMENT AND SUPPLY CHAIN TO GROW Read More »
