A's of Business by Vijay Wankhede

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A's of Business by Vijay Wankhede

Asset-

An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit. Assets are important for any kind of business as it allows businesses to gain profit, improve the business’ value and keep the business up and running. If a business is able to create an accurate description of its asset records, business owners can easily determine the financial status of the business.

Some of the most common types of business assets include the following: Tangible assets, Current & fixed assets and Intangible assets

 

Asset Management

Asset management refers to the process of developing, operating, maintaining, and selling assets in a cost-effective manner. Keeping track of the assets of the company is an important task that can save companies money and time. Asset management is the process of maximizing the assets of the company to provide the best returns to stakeholders. More often than not, it involves asset recovery as well. Businesses have a wide range of assets that include fixed and liquid assets. It is important for a business to be able to manage its assets, and use them to get the maximum possible returns.

 

Administration

Business administration is the system of arranging, sorting out, organizing and controlling office exercises with a view to accomplish business targets and is worried about proficient and viable execution of the office work. Administration is useful to the business ventures as well as to the different fragments of society too. It gives and keeps up interface different sorts of providers, banks, insurance agencies, government offices, and overall population. It benefits society all in all by giving its administrations.

 

After-Sales service

After sales service plays an important role in customer satisfaction and customer retention. It generates loyal customers and increase a brand value. Customers start believing in the brand and get associated with the organization for a longer duration. After sales service refers to various processes which make sure customers are satisfied with the products and services of the organization. The needs and demands of the customers must be fulfilled for them to spread a positive word of mouth. In the current scenario, positive word of mouth plays an important role in promoting brands products and services. After sales service makes sure products and services meet or surpass the expectations of the customers.

 

Affiliate Marketing

Affiliate marketing is an advertising model in which a company compensates third-party publishers to generate traffic or leads to the company’s products and services. The third-party publishers are affiliates, and the commission fee incentivizes them to find ways to promote the company. According to recent studies, 81% of brands rely on affiliate links because they involve very little investment. Affiliate marketing, an appropriate marketing solution for every e-commerce store, involves an affiliate signing up to an affiliate program offered by a retailer to first promote and then sell their products on a formulated commission-based payment model. Affiliate marketing has myriad advantages that small, medium, and large business brands are trying to exploit.

 

Artificial Intelligence

AI refers to multiple technologies, working in tandem to allow the machines to sense, learn, understand, and act to augment human capabilities. AI technology can learn and handle vast amounts of information that will enhance and transform operations in different fields effectively. Artificial intelligence is one of the most incredible techs that will transform lives in almost all facets of modern society. This technology provides significant development opportunities that many businesses and companies have already been fast to grab. In any company, the most time-consuming process yet prone to human error is cash flow forecasting. AI technology can help in increasing accuracy in forecasting cash flow without manual interference. This gives the business a higher chance of achieving success.