Unit: 6 Lesson: 2 Market Development and Business
Collaboration
Market:
A market is a place where people go
to buy or sell things.
It is not possible to have a stable market always due to two reasons:
·
Rise in Competitions. For e.g. 20 tea stall in same street.
·
Expansion of the business itself. For e.g. selling cold drink through tea stall.
Market Development: Market development refers to the expansion of market for
a product or services of a business. It can be through by going into new area,
increasing customer in same area, use of advertisement, increasing production
etc.
Business Collaboration:
Busines Collaboration refers to the working of two or more people or
organization together to achieve some common goals. For e.g. Chaudhary group
collaborating with Thai foods in the production of noodles.
Considerations for Business collaboration:
1.
Clear division of works
2.
Transparent record of income and expenses
3.
Fixation of wages for work
4.
Discussion for mutual benefit and problem solving
5.
Evaluation of success and failure
6.
Rectification of errors and self realization
7.
Respect all and develop positive attitude.
8.
thank you
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