Take a Smart Decision and Opt for Business Relationships: Risks and Opportunism Homework Help
The subject of business management covers a lot of useful topics and one such topic is about business relationships where risks and opportunism are discussed on a broad scale. This topic is really crucial to understand and if you are having any confusion while comprehending it then you must opt for Business Relationships: Risks and Opportunism Homework Help.
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Highlights of the topic – Business Relationships: Risks and Opportunism
Every organization has business relationships with other entities and there are certain risks as well as opportunities at different stages. Maintaining business relationships is an art and all things are to be seen like supply chain management, alliance while purchasing, involvement of the other party etc. Once you will get Business Relationships: Risks and Opportunism Homework Help then all your doubts will come to an end.
Risks in business relationships
There are various risks in business relationships like –
- If one party does not receive the order as per their specifications then the entire lot may be cancelled, so the supplier can incur huge losses.
- If the products and services are not as per the custom order then the end customer will not get 100% satisfaction level.
- Sometimes there may be difficulty in getting the payment on time because the terms of payment and credit conditions may be complex.
- There are many cases where supplier promises warranty, refunds, replacement etc and in case of defective goods this may prove to be a big burden.
- If order is not fulfilled on time then also penalties and fines are imposed sometimes.
Apart from these things, there are many other areas as well that cover risks in business relationships.
Opportunism in business relationships
There are many opportunities as well in business relationships like-
- Bulk orders can significantly reduce overall cost of production and profits can be increased.
- If the business relationship will be good then the supplier as well as buyer both can benefit in the long run.
- By making customized products and services for the clients, the supplier can create trust and will get orders for really long time in the future.
- By understanding the core requirement of business, the supplying party can create exceptional facilities for the buyer which will help in obtaining the contract at highly profitable rates and the expansion of both the parties will be guaranteed.
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