It has long been recognized as the oldest and probably the most important component of the promotional mix, its age can be ascertained by the fact that word of mouth and recommendation by others long in existence as a method of winning somebody over to some idea. A curious objective of Nigerian society and habits will reveal that selling is a major and ubiquitous economic activity, it would probably not be wrong to describe Nigeria as a nation of salesman and women. Virtually every house in Nigeria has a room that serve as a shop, this is addition to numerous Kiosk dotted all around the towns and villages and the hundreds of thousands of Hawkers that are virtually part of the Nigeria landscape. Selling is thus a job which the Nigerian takes very seriously, but paradoxically, the professional salesman whom the seller looked down upon, various reason can be adduced for this, firstly, the generally how educational qualification of most of the salesmen.
Strategic Approaches to Credit Management: A case study of Niche Trade Credit May 21, October 31, by Harry Credit management has evolved into a core component of business strategy.
For instance, high default rates by debtors would increase the volume and value of bad debts and ultimately stretch ratios such as debt-to-capital ratio and debt to equity ratio.
Worst of all, it could lead to revenue losses through write-offs of bad and irrecoverable debts. It is for this reason that Niche Trade Credit has emerged as a leading credit management company that helps business enterprises streamline their credit management practices.
The company stands out as a unique case study because of its customer-centric strategy that involves assigning a dedicated Niche Trade Credit Insurance Specialist to each of its clients. Insights into the Operational Profile of the Niche Trade Credit Each and every business organisation has a unique set of strategic footprints that differentiates it from competitors and other players in the value chain of a particular industry.
When it comes to credit management, the risks that are associated with trade credit in business span far and wide and many experience the challenges of establishing effective contingency measures to counter the risks. To this end, Niche Trade Credit has been exceptionally successful in designing business solutions that meet the specific need of clients with regards to streamlining debt collection and securing clients from the consequences and bad debts.
The findings of this evaluation enable the Niche Trade Credit Insurance Specialist to create client-specific benchmarks against which to fortify existing strengths opportunities, but also a roadmap for eliminating threats and weaknesses.
This mode of operation creates a platform for close and enduring collaborations between Niche Trade Credit and its clients. Vetting Mechanisms for Validating your Choice of Niche Trade Credit Having looked at the operational profile of the Niche Trade Credit it still would be such a great idea to vet the competitiveness of the specialist trade credit insurance services offered by the company compared to its competitors.
The vetting should focus on the skills, experience and professional qualifications of trade credit insurance specialists, track record for enhancing the collection of trade receivables, capacity for securing contingency measures for safeguarding against bad debts and the overall customer satisfaction benchmarks of each of the competing companies.
By so doing, you will be able to identify the factors that afford the company unassailable strategic edge over the competitors.Implementation is the process that turns strategies and plans into actions in order to accomplish strategic objectives and schwenkreis.comenting your strategic plan is as important, or even more important, than your strategy.
The video The Secret to Strategic Implementation is a great way to learn how to take your implementation to the next level.
The study on the impact of statutory audit on entity financial statement will be of immense benefit to the Nigeria breweries plc in the sense that the study will offer solution to the challenges faced by the Nigeria breweries plc in the preparation of entity financial statement using statutory audit.
The Commodity Value Chain Approach. In an effort to improve the competitiveness of non-traditional agricultural products produced in Trinidad and Tobago, and destined for both local and export markets, NAMDEVCO is currently collaborating with the Inter-American Institute for Cooperation (IICA) in a programme to develop specific commodity value chains.
Project financial management is a process which brings together planning, budgeting, accounting, financial reporting, internal control, auditing, procurement, disbursement and the . Harvard Case Study: Winfield Refuse Management Financial Statement Analysis CLASS. Write my research paper I have attached the do’s and don’ts.
This case study was written by Parveen Sultana and Fathima Reshma Taj H, under the direction of Saradhi Kumar Gonela, IBS, Hyderabad. It is intended to be used as the basis for class discussion rather than to illustrate either effective or ineffective handling of a management situation. The case was.