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Correlation to Key Accounts and Contract Management, Business Law - Coggle…
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Business Law
Principles of Management
The external environment
The external environment refers to institutions or forces that are outside the
organisation and can potentially affect the organisation’s performance either directly or indirectly.
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Budgetary Control
Budgetary control is the process of setting targets for an organisation's expenditures, monitoring results and comparing them to the budget, and making changes as needed.
Knowing these concepts can help event companies take the necessary steps to deliver a quality service that will be up to their clients standards and requirements.
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Quality Control
Quality control is a process that company goes through to ensure that products and
services have the quality they were planned to have. There are 8 dimensions of quality that companies can choose from to focus on.
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Sales and Distribution
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Responding to Objections
Prospects will raise many types of objections. Responding to Objections trains sales managers on the type of objections that may be raised and how to respond to them.
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Presentation Strategies
Presentation Strategies are 3 different methods sales managers can use to market their goods or services. Each strategy can allow the sales manager to achieve different outcomes.
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Principles of Marketing
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Promotion Mix
Promotion Mix refers to the company’s total marketing communications programme. It consists of a specific blend of 5 tools with each having a specific purpose.
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Market Coverage Strategy
The Market Coverage Strategy are 3 methods marketing managers can use to target different numbers of market segments and cater to each one of them.
Knowing these concepts can help marketing managers develop a marketing strategy for their clients to be able to reach out to their target audience.
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Market Segmentation
Market Segmentation is the process of identifying similar characteristics of customers and segments the market according to the following 4 bases of segmentation: geographic, demographic, psychographic and behavioural.
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Elements of Contract
The elements of a contract include an offer, an acceptance, a consideration, and an intention to create legal relations. For a contract to form and go into effect, all 4 elements must be present.
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Consent Obligation
Consent obligation is an obligation of an organisation looking to collect, use or disclose personal data about an individual to only do so once the individual gives, or is deemed to have given, his or her consent under this Act to the collection, use or disclosure
Knowing these concepts can help event companies undertake actions to prevent breaking the law when running an event.
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Intellectual Property
Intellectual property refers to work created from intellectual effort, a creation of the human
mind. Intellectual property rights are conferred upon the owner of the intellectual property. This causes the property to be protected under law.
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Employment Law
The Employment Act Statute governs rights and obligations of employers in relation to most employees. It aims to protect employees by imposing minimum standards in employment conditions
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Discharge of Contract
A contract is discharged when it has come to an end and parties are no longer required to fulfil their obligations under the contract. Discharge can be by performance, agreement, breach or frustration.
Knowing these concepts can help contract administrators prevent encountering unnecessary risks when dealing with contracts.
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