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Rus_ich [418]
2 years ago
10

Giving customers time to pay their bill generates more sales. But when a recession hits, they may have trouble making payments.

If you have businesses as clients, they may have slow-paying customers, and that means they will be slow to pay you. That is what happened to a company that offered a discount card as its primary product. The owner estimated that 50 percent of the firm's customers—other small businesses—were behind in paying what they owed. The owner needed those customers to keep his business operating, so he was hesitant to demand payment on past due accounts.
1. Should a small business owner push customers to pay when times are tough? Why or why not?
2. What problems do you think a business services company might have when is customers do not pay?
Business
1 answer:
Anna [14]2 years ago
6 0

Answer:

1. A compromise should be reached.

In the recession, the other small businesses are suffering including the company in question. If the owner pushes the customers to pay their bills, when the recession ends they may move to other vendors which would have made demanding money from them in the recession a myopic and damaging move.

The business however, also has bills to pay and so needs money to maintain operations as well. A compromise needs to be reached. The owner should contact the other businesses still owing and negotiate with them to pay a certain portion of what they owe with the rest coming later.

This could give the owner enough to keep the business running whilst maintaining the loyalty of his customers.

2. Problems that a business services company could have if customers do not pay include;

  • Inability to pay staff.
  • Inability to pay utilities like electricity.
  • Inability to pay rent and other expenses.
  • Increased risk of debt default.
  • Growth of company suffers.
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3 years ago
Paulina believed that the new hires in her department were lazy for failing to make use of the company's expert software system,
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<h3>What is fundamental attribution bias?</h3>

Fundamental attribution bias  can be defined as the way in which a person judge another person without considering the situation factors.

Based on the giveing scenario Paulina is using fundamental attribution bias on the new employ by ignoring the reason why the new hire did not use the company's expert software system.

Therefore this is an example of fundamental attribution bias.

Learn more about fundamental attribution bias here:brainly.com/question/17109470

8 0
1 year ago
When a country experiences capital flight, its net capital outflow, a. which is part of the demand for loanable funds, increases
Dahasolnce [82]

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2 years ago
The first step to a successful value-driven marketing strategy is to determine whom to serve with a market offering. to make thi
PSYCHO15rus [73]

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Segmentation is the process of classifying the market into several accessible groups. Targeting is the process of focusing on a specific market segment in order to offer products from all market segments.

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8 0
1 year ago
An engineer wishes to have $3 million by the time he retires in 35 years. Assuming 8% nominal interest, compounded continuously,
Genrish500 [490]

Answer:

annual sum must he set aside $16209.42

Explanation:

given data

engineer wishes = $3 million

retires time = 35 years

nominal interest = 8%

solution

we get here effective annual rate that is

interest rate  = e^{r} - 1  ...........1

interest rate  = e^{0.08} - 1

interest rate  = 0.08328 = 8.33%

and

now we get annual sum must he set aside that is

amount = $3 million × \frac{rate}{(1+rate)^{t}-1}

amount = $3000000 × \frac{0.0832}{(1+0.0832)^{35}-1}

amount = $16209.42

5 0
2 years ago
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