Business Myths Case Study Example | Topics and Well Written Essays - 500 words

Business Myths - Case Study Example â€Å"Hey, this meal is fantastic! You should start a restaurant!† This is a myth. Starting a restaurant requires various skills other than being a good cook 5. I’ll just open my store, and people will stream in off the sidewalks and buy from me. This is also known as the â€Å"If you build it, they will come† approach to business. Accessibility does not guarantee success in business. Customer may try it out but will not return if the product or service is poor. 6. It’s a cool idea. Everyone will love this. Often focus groups provide such input to marketers—we love the idea. Focus groups gives an indication of how the market will receive the product in the market given their past experiences and knowledge. But again, not a guarantee that such will succeed in the market. 9. Failure is bad. Failure is the opposite of success. This is why dodge ball has been banned in schools and soccer teams are penalized if they get more than five goals ahead of their competitors. The examples are Myth. But the statement that failure is bad is correct. Taken as a whole, this is a myth. 11. Cash flow is what really matters in business. Profit can just be a trick of accounting whereas cash flow controls whether you can stay in business. Many companies go out of business due to cash flow challenges, even though they were profitable on paper. Myth. While cash flow is important to keep the business running, it is not everything. Business also needs to invest and there are expenditures that do not immediately affect cash flow. 12. Having more customers is better than having fewer customers. Would you believe that some companies go out of business because they have too many customers or too much demand for their product? False. Customers are never too much. They are the very reason why a business exists. B. Is it true that: YOU CAN WIN CUSTOMERS JUST by LOWERING YOUR PRICES? Explain. No. Price is just one of the components in attracting

Info to be emailed Essay Example | Topics and Well Written Essays - 5000 words

Info to be emailed - Essay Example The Human resources manager who has the responsibility of preparing an employee for overseas assignment must consider other things also which may arises during the employees stay in the foreign country. Food habits and housing requirements may be different in different countries. The Americans has enjoyed the luxury of good foods and housing facilities and hence they may require the same thing while on deputation of an overseas assignment. The HR manager must be able to forecast the difficulties an American may faces in an overseas assignment and he should be able to provide solutions for that. The success of an overseas assignment lies in how comfortable the employee is in his/her stay in the foreign country. The awareness about the designated country, work culture, religions, society and the political system will be helpful for the overseas assignment. Globalization, Liberalization and Privatization policies, has opened the doors widely for business world. Big business tycoons were spreading their wings to other countries based on the business potentials and infrastructure facilities. International trade including exports and imports has increased a lot for the last two decades. The consumers are also happy to have variety of goods from different countries at their finger tips. The business competition also has been increased immensely because of the globalization policies. The small scale domestic industries are struggling hard to compete with the big MNCs. The MNCs are better organized and they have immense financial capabilities to innovate new products at cheaper rates and hence the small scale industries have difficulty in competing with such big MNCs in price and also in quality. Most of the business tycoons, expanding their business interests to many other countries to explore the possibilities there. They became saturated in their native countries and further expansion may be possible for them only in a