Question

Provide detailed and comprehensive information to support your answer. Where applicable, use examples to support your answers.

1. What would be some of the risks involved in loaning a friend money to help start a business?

2. Why are contracts useful to business owners?

3. Explain the traditional production-distribution chain.

4. Explain why "profits follow quality."

5. You may not be able to afford full-time employees for your business early on, but you can still hire quality people without having to provide full-time salaries and benefits. Describe some methods for doing so.

Answer 1

1.If the borrower fails to pay, he may lose his money and damage an important personal relationship. Receive the Best newsletter. Lending money to a family member or friend is a risky proposition, which can end very badly and Signing a loan can also cause personal and financial problems

2. Contracts bind the parties to their functions. Contracts can guarantee payment and No one likes to be rigid about the work done, and a binding contract provides a written legal document that establishes a contract to pay for the services provided. Contracts provide a resource when the relationship fails. In business, contracts are important because they describe the expectations of both parties, protect both parties if those expectations are not met and define the price to be paid for services.

3. The traditional supply chain process involves taking raw materials and producing a physical product that is then transferred to the consumer. Traditionally, the supply chain process involves supplying raw materials, supplying materials, manufacturing, distributing and selling to the end user.

4. Edwards Deming came up with the idea of profit follows quality and argued that companies should focus on producing quality products, instead of maximizing profit, and that profit would flow from that approach.

5. Studies show that employees who work from home are more productive than those who work in a typical office environment. Employees who work from home are more autonomous, face fewer interruptions and can focus on their work. Studies show that employees who work from home are more productive than those who work in a typical office environment. Employees who work from home are more autonomous, face fewer interruptions and can focus on their work. Employees are exposed to new job and training opportunities when accepting contract positions. The employment contract is not suitable for everyone looking for a job. But it offers advantages for many people looking for a change of pace. Being able to show candidates these benefits will help you make more hires.