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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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RELATED QUESTIONS
Mention any two expectations of Employees.
Which one is not a way to manage stakeholder expectations?
Which of the following is not an expectation of competitive competitors?
Match the Column I and Column II:
| Column - I | Column - II | ||
| (a) | Employees | i | Regular orders for supply |
| (b) | Government | ii | Protection of trade union rights |
| (c) | Society | iii | Protection of environment from pollution |
| (d) | Suppliers | iv | Avoid corrupting public servants |
Match the Column I and Column II:
| Column - I | Column - II | ||
| (a) | Suppliers | i | Contribution of business to the local economy |
| (b) | Employees | ii | Provide capital |
| (C) | Shareholders | iii | Provide physical and mental efforts |
| (d) | General public | iv | i |
State any two expectations of the Associates from a business enterprise.
Mention any two expectations of suppliers from a business organisation.
State any two expectations of the general public from a business organisation.
Explain the expectations of government from a business enterprise.
Explain any five expectations of suppliers from a business organisation.
