The economy encompasses the entire network of producers, distributors, and consumers operating within a given community, whether at a local, regional, or national level. In business, costs are primarily measured in monetary terms, accounting for the effort, materials, resources, time, and utilities expended, as well as the risks taken and opportunities missed during the production and delivery of goods or services.
•Know what your customers consider to be good customer service
•Take the time to find out customers' expectations
•Follow up on both positive and negative feedback you receive
•Ensure that you consider customer service in all aspects of your business
•Continuously look for ways to improve the level of customer service you deliver.
Training Methods
1. Simulators
Simulators are used to imitate real work experiences.
2. On-The-Job Training
Jumping right into work from day one can sometimes be the most effective type of training.
3. Coaching
Coaching gives employees a chance to receive training one-on-one from an experienced professional.
4. Role Playing
Role playing allows employees to act out issues that could occur in the workplace. Key skills often touched upon are negotiating and teamwork.
5. Management Games
Management games simulate real-life issues faced in the workplace.
6. Case Studies
Case studies provide trainees with a chance to analyse and discuss real workplace issues.
Costs
In business, cost is usually a monetary valuation of effort, material, resources, time and utilities consumed, risks incurred, and opportunity forgone in production and delivery of a good or service
Business
Business is the practice of making one's living by engaging in commerce
Economics
An economy is an entire network of producers, distributors, and consumers of goods and services in a local, regional, or national community.
Hiring
To hire is the act of giving someone a job; an employer taking on a new employee.
Organizations
An organization is a social unit of people that is structured and managed to meet a need or to pursue collective goals.
Types of Industries
1. Primary Industry
Primary industry is concerned with production of goods with the help of nature.
2. Genetic Industry
Genetic industries are engaged in re-production and multiplication of certain spices of plants and animals with the object of sale.
3. Extractive Industry
Extractive industry is concerned with extraction of goods from the soil, air or water.
4. Manufacturing Industry
Manufacturing industries are engaged in transforming raw material into finished product with the help of machines and manpower.
5. Construction Industry
Construction industries take up the work of construction of buildings, bridges, roads, dams, canals, etc.