The Economic Functions of Money
Money is one of the most important inventions of humanity. Everyone uses money; it has become an integral part if the modern economy. The economy will not function efficiently without cash.
Money came about due to the yearn for exchange. Initially, the medium of exchange was by barter. People exchange one product for another.
The trade by barter system was sufficient for a long time until people’s need began to increase and it became difficult to find who has the ideal product for who.
There was also the case of storage. People found it hard to store these perishable items for long. All these led to the emergence of money.
Money became the measure of everything, and everything is now valued concerning money.
As technology is continuously integrated into our lives, the way we do business also evolves. Technological enhancement and the influx of modern communication channels have changed business practices and strategies, starting from the way you promote products and services to how you engage your customers. One of the essential factors in the business world today is “customer satisfaction.” These days customers are not just seeking to buy at low prices, they also want to have a great shopping experience. They want a “personalized service” that guarantees utmost satisfaction. Also, modern customers want to be able to get in touch with businesses anywhere and anytime, hence more and more of them are going digital.
To cater for these new expectations from the modern day customer, it is vital for retailers to shift towards multi- marketing strategy like “Omni- channel marketing“ which promotes the concept of customer experience and the need for customer insight and visibility. The Omni channel strategy combines various modes of marketing techniques to create a seamless customer experience across all channels.
The strategy involves building a bridge between offline and online marketing. It works to consolidate data from different marketing channels to deliver a unique shopping experience for customers. For, instance, it takes digital interactions like eCommerce, social media and other media such as television and integrates them with interpersonal communications to enhance engagement and promote brand awareness.
How to Succeed in Business
The question of “how to succeed in Business” raises a lot of thoughts. In truth, everyone wants to be happy and successful regardless of age, career goals or vicinity. Success is the ultimate goal for our entire daily struggle. However, only a few persons can achieve success.
The reason for this is because been successful in this very competitive world requires more than having goals. Anyone can set goals and objectives, but the problem is in achieving those goals.
It isn’t about having talents or dreaming big. Your talent will take you places, but you will not achieve much if you don’t know how to leverage on it to achieve your dreams.
To be successful in life, you need to have a wealthy mindset. There are lots of analogies around us that stops us from attaining our goals. You need to reshape your brain to see things differently and develop a mindset that drives success.