A 360-degree customer view is the comprehensive understanding of a customer through data collected from different touchpoints and sources. It helps businesses create an accurate customer profile by incorporating information from different interactions and channels. This concept is used in customer relationship management (CRM) and allows businesses to provide customers with a personalized and seamless …
Businesses must first track their financials, inflows, and outflows so that they may, in turn, track their expenses, profits, and losses. In financial accounting, these processes are called “accounts receivable” and “deferred revenue.” Today’s blog post will discuss these two accounting concepts and their differences. Accounts Receivable An account receivable is a payment the business …
“Accounting profit” and “economic profit” are two key financial terms that businesses must keep track of to monitor their performance and control expenses. Today’s blog post will discuss these two terms in detail. Economic Profit Economic profit is estimated based on assumptions and is a theoretical value. Economic profit measures the business’s profitability and includes …
The “three-second rule” in negotiation practice is not scientifically proven. Negotiation is a complex and multifaceted process that involves different strategies, depending on the context. However, the “three-second rule” in negotiation can be used as a guideline so as not to make decisions or give responses too quickly during a negotiation. The effectiveness of this …