When the prices of raw materials increase, would you rather increase price, decrease quantity or quality of your product?

[Chibson]

You can't possibly do everything on your own as a business owner . in fact business owners are not expected to do much, they can employ professionals who are willing to help the business grow. Their main function is to lead and guide how the business should be managed.

Probably, in every business venture everyone has their own duty. as a business owner you have to employ people in different departments of your business so that they can help you to run it effectively.

 

[Sotherefore]

Probably, in every business venture everyone has their own duty. as a business owner you have to employ people in different departments of your business so that they can help you to run it effectively.

Sometimes they will even said that business owners should have at least a good understanding of every department in his or her business organisation , but what about the professional section of a business. How can a business owner have an idea of such ?

 

[Chibson]

Sometimes they will even said that business owners should have at least a good understanding of every department in his or her business organisation , but what about the professional section of a business. How can a business owner have an idea of such ?

As a business owner it is important you have some knowledge about every department but you must not be an expert in all of them. That is why you need to employ people who are experts in different aspects.

 

[Setho]

It is only going to be proper that at this particular point in time you should be looking forward to doing what your clients will want because rich people will prefer to have an increase in price.

 

[Sotherefore]

As a business owner it is important you have some knowledge about every department but you must not be an expert in all of them. That is why you need to employ people who are experts in different aspects.

Understanding like how ? How will you have an understanding of the technical department of your business or maybe the marketing department. For me I believe if I have an understanding of all the accounts keeping of the business then that will be okay for me because that is where every information lies.

 

[Chibson]

Understanding like how ? How will you have an understanding of the technical department of your business or maybe the marketing department. For me I believe if I have an understanding of all the accounts keeping of the business then that will be okay for me because that is where every information lies.

As a businessman you need to attend business conferences and a lot of other things to be successful.
In those events and conferences they will teach you everything you need to know in order to be successful running a business.

 

[Sincerem]

As a business organisation. The quality of your goods sometimes is the reason you have a successful business. I also prefer to maintain the quality of my product. I can't joke with that..

 

[Sotherefore]

Okay , what if I have a paid adviser to advise me on how to run my business successfully , do I still really have to attend conferences to also be successful ? I don't know, just asking.

 

[tyrim88]

The quality of the product Must be perfect, I will rather reduce the size and maintain the amount of money or I will rather maintain the size and increased the price. At least your customers won't be disappointed in you.

That is just the best thing to do in a situation whereby the raw material used in producing the products have been increased,you will just have to for the interest of the customer and maintaining quality,either increase the perice or reduce the quantity.

 

[Shigobad2020]

If you want your customers to know you for the best , then you need to be selling the best thing which is the best quality and not reduce it because it will have a negative effects on your business.

 

[Syldan]

Actually it's a very serious problem when the price of raw materials increases. I won't consider to decrease the quality of my products in othet to produce in large quantities but I will produce in small quantities with high quality so as not to affect the quality of my products when there is normality in the price of raw materials.