Business Social Responsibility: Definition, Types, Examples, Pros, and Cons. What are the types of social responsibility in business? There are four main types of social responsibility in business: 1. Environmental responsibility 2. Ethical responsibility 3. Philanthropic responsibility 4. Social responsibility Each of these types of social responsibility has its own unique set of challenges and … Read more
Over-selling is the act of convincing a customer to buy a product or service that they may not need or want. This can be done through aggressive marketing tactics or by simply providing too much information about a product or service. Over-selling can lead to customer dissatisfaction and may even result in returns or cancellations. … Read more
Recency, frequency and monetary value (RFM) is a method of identifying which customers are the most valuable to a business. This method looks at three factors: – How recently a customer has made a purchase (recency) – How often a customer makes a purchase (frequency) – How much a customer spends per purchase (monetary value) … Read more
What is Cold Calling? How Does Cold Calling Work? What Are Some Examples of Cold Calling? What Are the Difficulties of Cold Calling? How do you start a cold call? When making a cold call, it is important to sound friendly and interested, but not too pushy. Start by introducing yourself and your company, and … Read more
Quorum refers to the minimum number of members of a group that must be present in order for the group to transact business. The term is often used in corporate settings, where a quorum is typically set at a majority of the board of directors or shareholders. What is meant by quorum in company law? … Read more
A.). A société anonyme (S.A.) is a French term for a company with limited liability. The term is used in many jurisdictions, including France, Luxembourg, Belgium, Switzerland, Spain, and Quebec. A société anonyme is typically a large company, with a board of directors and shareholders. The shareholders elect the board of directors, who in turn … Read more
A transaction is a business event that has a monetary impact on an organization’s financial statements. Transactions are recorded in the accounting records of a business as debits and credits. The total of all debits must equal the total of all credits in a transaction in order for the transaction to be considered balanced. What … Read more
Value Added Resellers (VARs) are businesses that resell products or services with added value. The added value can come in the form of customization, integration, support, or some combination of these. VARs typically have a close relationship with the manufacturers or suppliers of the products or services they resell. This gives them a deep understanding … Read more
Nonmonetary transactions are financial transactions that do not involve the exchange of money. Instead, they involve the exchange of goods or services. For businesses, nonmonetary transactions are important because they can help build relationships with other businesses and customers. Nonmonetary transactions can also help businesses save money by avoiding the costs of currency exchange. What … Read more
What Are Expenses, and How Are They Recorded? Where are expenses recorded on a balance sheet? Expenses are recorded on the income statement, which is one of the three main financial statements. The income statement shows a company’s revenues and expenses over a period of time. The other two main financial statements are the balance … Read more
