What are the benefits and potential problems of a company being involved in many types of products and services? (Name at least 2.)
5 comments:
Anonymous
said...
Some benefits of a company being involved in may type of products and services would be a better offer of items for consumers. When more things are offered that would peak the interest of a consumer, that company is going to make a profit resulting in more money. However if they only specialize in creating one thing, but it is in high demand they would also get that profit because they would have an advantage over others in producing it. Some problems would be if some of the products or services being offered werent in high demand or didnt cause an interest in consumers then it would be a waste and they would spend money trying to create this product and no one would want to buy it.
Companies that are involved in many different things have a lot of problems. But they also have many benefits. I think that one of the largest problems would be producing quality products. If you are producing so many different products, wouldnt it be hard to keep them all at quality levels? Another disadvantage would be the amount of money needed to open factories and hire workers to build so many different products. But if you made a lot of different products, the advantages would probably be great. You wouldnt have to depend on one single product when the price might go down. Your company would be more economically stable.
There are many benefits when considering the involvement of products and services to make the company better succeed or become a failure. An advantage of this would include of making more money because of the products and services, this however would depend on what time of ownership you would have. Persue, you have a sole ownership the money would go to you, but in such a corporation ownership you have to split funds between many people into dividends. An example of failure would be would be spending long hours producing the product and or service and there may not be such a high demand. Sometimes, in a bigger ownnership as a corportation you may not have much say in everything beings you may have thousands of people to share and divide the dividends between.
Benefits of a company being involved with many types of products or services is the ability to expand the reach of target market. By expanding the reach to more customers the company can gain more profit. A downside is that if the company is not managed efficently then it may become complicated to keep track of all the products or services offered.
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5 comments:
Some benefits of a company being involved in may type of products and services would be a better offer of items for consumers. When more things are offered that would peak the interest of a consumer, that company is going to make a profit resulting in more money. However if they only specialize in creating one thing, but it is in high demand they would also get that profit because they would have an advantage over others in producing it. Some problems would be if some of the products or services being offered werent in high demand or didnt cause an interest in consumers then it would be a waste and they would spend money trying to create this product and no one would want to buy it.
Companies that are involved in many different things have a lot of problems. But they also have many benefits. I think that one of the largest problems would be producing quality products. If you are producing so many different products, wouldnt it be hard to keep them all at quality levels? Another disadvantage would be the amount of money needed to open factories and hire workers to build so many different products. But if you made a lot of different products, the advantages would probably be great. You wouldnt have to depend on one single product when the price might go down. Your company would be more economically stable.
There are many benefits when considering the involvement of products and services to make the company better succeed or become a failure. An advantage of this would include of making more money because of the products and services, this however would depend on what time of ownership you would have. Persue, you have a sole ownership the money would go to you, but in such a corporation ownership you have to split funds between many people into dividends. An example of failure would be would be spending long hours producing the product and or service and there may not be such a high demand. Sometimes, in a bigger ownnership as a corportation you may not have much say in everything beings you may have thousands of people to share and divide the dividends between.
Benefits of a company being involved with many types of products or services is the ability to expand the reach of target market. By expanding the reach to more customers the company can gain more profit. A downside is that if the company is not managed efficently then it may become complicated to keep track of all the products or services offered.
The benefits:
respect
expansion
gross
money
The problems:
caught up
busy
time comsuming
over your head
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