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Question
Discuss the expectations of customers and business associates.
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Solution
The expectations of Customers from a business concern are:
- Quality items or services.
- Reasonable prices.
- Cash receipts for the items purchased.
- Guarantee or warranty fulfilment.
- Prompt and effective after-sales service for durable products.
The expectations of business associates/suppliers from a business concern are:
- Fair prices for supplies.
- Making regular and timely payments in accordance with credit terms.
- Reasonable terms of delivery and payment.
- Regular supply orders.
- Correct information on the company’s financial situation.
- Healthy and cooperative inter-business relationships.
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