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2 years ago

four seasons why it is important for a novice entrepreneur to build positive relationships with customers

Business

2 answers:

kramer2 years ago

5 0

Answer:

1. Positive relationships with customers usually result in customer retention and repeat business.

2. Customers will generate leads by word of mouth and refer others to your business which is very important in the early business stages.

3. Customers will leave positive reviews of services and goods, increasing profitability and creditability.

4. Positive relationships with customers will create an emotional connection to the brand, and this will foster a business environment that is strong, constructive, and optimistic.

Explanation:

The people principle teaches that "People need People." It is essential to note that building positive relationships with people is necessary, not just customers. People have needs that transcend transitional relationships, and it is necessary to have an astute awareness of the underlining needs.

balandron [24]2 years ago

3 0

The reasons why it is crucial to form positive customer relationships as a novice entrepreneur are:

Customers are the lifeblood of a business
it gives the entrepreneur more information about the customer's problems and how they can be solved
It builds trust and trust translates to improved buying decisions
happy customers create more opportunities for your business.

<h3>What are the keys to positive customer relationships?</h3>

The keys to positive customer relationships are:

great communication
empathy
Rewarding loyalty
Seeking feedback
consistency etc.

See the link below for more about Customer Relationships:

brainly.com/question/25656282

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By always do doing what your soupost do without you parent telling you to do it. Hope this helped

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2 years ago

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Lady bird [3.3K]

Answer:

711,300

Explanation:

Net cash generated from operating activities can be calculated by deducting and adding back the cash and non-cash items respectively from the net income for the year. Such as depreciation will be added back in net income due to it is a non-cash expense

Net Income 624,000

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3 years ago

Osion Electronics Inc. incurs a cost of $350 to produce one unit of a cell phone. The company's management has priced the produc

Vsevolod [243]

Answer:

The economic value establish in this case is $450

Explanation:

Economic value is the term which is defined as the computation of the profits an asset has either manufactured or might produce in the future. It is that measure of the product or service benefit provide the economic agent.

For computing the economic value as:

EV (Economic value) = (Actual rate of return - Cost of Capital) × Net Investment

where

Actual rate of return is $800

Cost of capital is $350

Net Investment is nil

Putting the values above:

EV = $800 - $350

EV = $450

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3 years ago

Explain why it might be difficult for a new,

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Answer:

The Threat of New Entrants exerts a significant influence on the ability of current companies to generate a profit Gross Profit Gross profit is the direct profit left over after deducting the cost of goods sold, or cost of sales, from sales revenue. It's used to calculate the gross profit margin

Explanation:

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2 years ago

X-treme Vitamin Company is considering two investments, both of which cost $10,000. The cash flows are as follows:Year Project A

liq [111]

Answer:

A) Project A = 0.83 year

B) NPV of Project B = $14,609.66

C) Answer B

Explanation:

Requirement A

We know,

Payback period = Last year with negative cumulative cash flows + (Absolute value of last year's cumulative cash flow ÷ Cash flow of the following year's negative cumulative cash flow)

Or, Payback period = A + ( B ÷ C)

Project A Project B

Year Cash Flow Cumulative Cash Flow Cash Flow Cumulative Cash Flow

0 (A) -$10,000 -$10,000 (B) -$10,000 -$10,000 (B)

1 $12,000 (C) 2,000 $10,000(C) 0

2 8,000 10,000 6,000 6,000

3 6,000 16,000 16,000 22,000

Payback period for project A = 0 + ($10,000 ÷ 12,000) = 0 + 0.833 = 0.83 year

Payback period for project B = 0 + ($10,000 ÷ 10,000) = 0 + 1 = 1 year

X-treme Vitamin Company should choose project A because it can return the investment earlier than project B.

Requirement B

We can use excel to find the Net Present Value for both the projects with a cost of capital of 10%.

The following image shows the NPV for project A and B.

From the calculation of NPV, X-treme Vitamin Company should choose project B as that project yields more present cash flows.

Requirement C

A firm should generally have more confidence in answer b because money can produce more logical sense than a year. Yes, it is easy to understand how many years a company will need to get back its cash flow. Still, the present value of cash flows provides a more specific evaluation of how to utilize the initial investment.

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3 years ago