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Businesses are built on relationships. What do you think this statement means What are the implications for managing th - Essay Example

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Customer Inserts His/her Name Customer Inserts Customer Inserts Grade Course Writer Inserts Date Here (Day, Month, Year) BUSINESSESS ARE BUILT ON RELATIONSHIPS It is true that any kind of business or communication in the business world requires strong relationships…
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Businesses are built on relationships. What do you think this statement means What are the implications for managing th
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Inserts His/her Inserts Inserts Grade Inserts Here (Day, Month, Year) BUSINESSESS ARE BUILT ON RELATIONSHIPS It is true that any kind of business or communication in the business world requires strong relationships. In order to succeed, whether personally or professionally relationships are required at all levels. In the business world relationships should be maintained such that they are beneficial for both the parties concerned. The relationships should mutually help the parties to achieve their goals or objectives because if they are not beneficial to both parties they will not last for long. Moreover both the parties should let each other know what is their importance. The relationships in business may be of many types like buyer–seller, investors, distributors, middlemen, channel partners etc. Without any relationship in the business world it will become extremely difficult to expand and continue the business. It also depends upon the type of business you are in and upon the responsibilities you have. For instance, if your business is sales, marketing or any of such kind then building strong business relationships is a must. The external environment has a very strong impact on the businesses which may be directly interactive or indirectly interactive. Directly interactive, forces include owners, customers, employees, suppliers, competitors etc. The owners expect that the managers will work in the best interest of the firm and the customers expect that their demand is satisfied by the products they use. The suppliers require timely payments from the organization. The second is the indirectly interactive force which includes political, legal, technological, socio-cultural, changes. For instance, if a company deals in technology it will greatly be affected by the new softwares which are coming up then to a company which does not. Political and legal environment also greatly affects the business for example changes in tax policies, trade regulation etc. So it can concluded that every business requires to maintain strong relationships within and outside the organization. No organization can survive without responding effectively to these internal and external factors because no organization can live in isolation. “Reference” Jacobsohn, Jason. "Don't forget building relationships when building business." 6 JUNE 2005. WTN NEWS. 14 JULY 2011 . Read More
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