This blog aims at equipping individuals with business and finance tools in simplistic terms. It convers both business finance and personal finance. It also looks at the actions that can help you run a business successfully. It has some juicy flavour in it. It also aims at getting individuals closer to Allah (SWT) Enjoy!
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Division of Labour
Hello readers, today I will be writing about the division of labour. Division of labour is a situation where production processes are divided into parts and these parts are assigned to individuals. These individuals only assume parts that have been given to them to undertake. Benefits of making workers do only one tasks include efficiency. They are able to do their jobs faster.
Jobs are assigned to employees based on their skill and experience. As the employee repeats the task he or she becomes an expert at it. As a result of division of labour the quality of the work the individual does improves. It contributes to the success of your business.
Division of labour encourages the production in large scale quantities which helps to reduce the cost of production which eventually adds to the success of the organisation. It also encourages workers to come up with better ways of carrying out their part, thus increases invention.
However, some individuals believe that division of labour could make workers feel bored as they will be repeating the same task. Karl Marx is of the opinion that repeating the same tasks continuously will lead to employees being disassociated from their job. That is all for today. thank you for reading this article, Keep checking my blog regularly.Cheers!
Hello readers, today I will be writing about buyers behaviour when it comes to purchasing products (goods and services). I hope your week has been good. A buyer is an individual that makes a purchase. That purchase can be influenced by his/her emotions or his/her rational mind.
For your marketing strategy to be successful you have to truly understand the buying behaviour of your customers. Some customers buy goods based on trust and loyalty which falls into the emotional reasons. Thus, you have to build trust between your customers and yourself so they can return back to you. Trust is built when you offer good quality for reasonable prices.
Some products are bought regularly while some products are purchased seasonally. If your products fall into the seasonal category, you should only purchase them to be resold during that season. At times buyers purchase products on behalf of another individual. In that situation, you have to capture the mind of both the buyer and the actual person tha…