Understanding how people arrive at their choices is an area of cognitive psychology that has received attention. Theories have been generated to explain how people make decisions, and what types of factors influence decision making in the present and future. In addition, heuristics have been researched to understand the decision making process. Several factors influence decision making.
There are various types of business models that most companies fall into.
Many of those operate under the basic categories of manufacturer, distributor, retail or franchise. In order to develop a successful business plan, you first need to determine which business model you would like to follow.
This business model also applies to companies that assemble products from premade parts. For example, Dell Computers would be considered a manufacturer because it assembles its computers from parts made by other companies.
A manufacturer can choose to represent its products directly to its customers, or it can outsource sales to another company. Distributor A distributor is any business that purchases products directly from a manufacturer for resale either to retail outlets, or directly to the buying public.
For example, a technology distributor would purchase computer parts from a technology manufacturer and then sell those parts wholesale to retail outlets for sale to the general public.
An auto dealership that deals in new cars would purchase vehicles directly from the manufacturer and sell them to the general public. According to the University of Southern California, Wal-Mart Department Stores qualifies as a distributor because it purchases product directly from the manufacturer.
Not all department stores have that kind of purchasing power.
Retail Outlet A retail outlet purchases product from a distributor or wholesaler, and then sells those products to the general public or to corporate end users. Most department stores, with the exception of larger chains such as Wal-Mart, as discussed earlier, would be considered retail outlets.
Many online retailers purchase through wholesalers and follow the retail outlet business model. Franchise Model The franchise business model is unlike the others, because with a franchise you can be a manufacturer, distributor or retail outlet.
The type of business model you follow depends on the business you purchase, but with the franchise business model there is always the added element of the franchise company.
Franchising also incorporates the main kinds of business models within its own structure. Franchise Chat reports that you can purchase a franchise directly from the franchise company, or you can buy it from a master franchise distributor that is licensed to sell franchises in your region.
Thus, you employ the manufacturer, distributor or retail outlet model within the franchise business model.Finding Journal Articles To find articles on topics in Business Plans, use a resource from the Business Management page.
It is possible to begin with a database such as Business Source Complete. The Milwaukee Business Journal features local business news about Milwaukee.
We also provide tools to help business' grow, network and hire. Nov 23, · Get the latest headlines on Wall Street and international economies, money news, personal finance, the stock market indexes including Dow .
Samuelson, "The Long-Term Case for Equities: and how it can be oversold," Journal of Portfolio Management, Fall , pp. This paper, written by a Nobel prize winner, warns against market timing, warns against active management, and generally supports .
Much unlike proprietary off-the-shelf software that come with restrictive licenses, open-source software is distributed freely, through the web and in physical media.
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