Podcast
Questions and Answers
What is one of the challenges of business development mentioned in the text?
What is one of the challenges of business development mentioned in the text?
- Inventory management (correct)
- Avoiding continuous market research
- Decreasing the workforce
- Maintaining a static market
How can an organisation stay relevant in the market according to the text?
How can an organisation stay relevant in the market according to the text?
- By carrying out continuous market research and product innovations (correct)
- By having a fixed inventory management system
- By not innovating their products
- By avoiding market research
Why is overstocking a problem for businesses, as mentioned in the text?
Why is overstocking a problem for businesses, as mentioned in the text?
- It negatively affects cash flow (correct)
- It avoids loss of customers
- It increases cash flow
- It leads to high customer satisfaction
What happens to inventory needs as a business grows, according to the text?
What happens to inventory needs as a business grows, according to the text?
Why is it important for businesses to have a Just-in-time inventory management system?
Why is it important for businesses to have a Just-in-time inventory management system?
What is a consequence of not meeting customer demands, according to the text?
What is a consequence of not meeting customer demands, according to the text?
Why is providing excellent customer service important for any business?
Why is providing excellent customer service important for any business?
What aspect of a business is significantly influenced by customer service?
What aspect of a business is significantly influenced by customer service?
How can providing excellent customer service impact old and new clients?
How can providing excellent customer service impact old and new clients?
What is the role of customer service in relation to business development?
What is the role of customer service in relation to business development?
How does excellent customer service contribute to business success?
How does excellent customer service contribute to business success?
In what way does customer service impact the business's marketing plan?
In what way does customer service impact the business's marketing plan?
What is the purpose of a business strategy?
What is the purpose of a business strategy?
Which of the following is not an example of a common business strategy?
Which of the following is not an example of a common business strategy?
What is a key component of business development strategies?
What is a key component of business development strategies?
What skills should a business developer possess?
What skills should a business developer possess?
Which of the following is a challenge faced in business development?
Which of the following is a challenge faced in business development?
How does a business strategy help a company compete in the market?
How does a business strategy help a company compete in the market?
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