Everyone wants to make it big in life by venturing in various forms of business which involve the provision of various goods and services. This requires proper structures to minimize exploitation of some stakeholders by others who feel they have more right to resources than others. Governments therefore take measures to curb this vice to provide a level playing field for all players in any industry. As a result, weak firms are able to grow their operations and influence which also increases the number of products on sale. It is important to increase fairness in business practices to increase productivity of firms. All firms are therefore able to achieve their targets since there are no inhibiting factors which would make it difficult to do a certain line of work. Every fair trade market brings huge competition among sellers who try to entice potential buyers into buying their products.
Competition is fair in such markets since everyone strives to impress buyers by making their products very attractive. In addition, customers have a wide range of similar products to choose from in addition to them being affordable. All buyers want to get the best deal for any items they purchase in terms of quality and price.
When entrepreneurs engage in any fair trade Malawi authorities have approved, it is possible for everyone to achieve their potential without having to act unfairly to the disadvantage of others. They increase efficiency and are not likely to close operations since they have some loyal customers. In addition, such firms are able to achieve better stable growth.
Entry into a business is quite easy when there is freedom of entry and exit without some firms wanting to lock out any new entrants to their line of work. This increases competition which in turn improves their ability to meet increases in demand. The resulting products are also in compliance with Malawi culture therefore reducing incidents of customers rejecting a new product.
New products are developed by new entrants who have identified a gap. This is likely to skew thinking of existing players towards improving their brand. On the other hand, new products and innovations are developed when a fresh thinking is introduced in any industry.
No owner would approve managers to engage in unfair practices as their value would be impossible to determine. They expect them to use the resources on their disposal to create wealth for them otherwise they would be fired. This forces them to maximize revenues and spur innovation to maximize returns.
Users of financial statement expect to have them audited to provide an opinion on whether they are true or not. Expenditures for instance are used by governments for taxation purposes since there are taxable and nontaxable costs. Any fair trade market practice is likely to eliminate incidents of doctoring accounting records.
Competition is fair in such markets since everyone strives to impress buyers by making their products very attractive. In addition, customers have a wide range of similar products to choose from in addition to them being affordable. All buyers want to get the best deal for any items they purchase in terms of quality and price.
When entrepreneurs engage in any fair trade Malawi authorities have approved, it is possible for everyone to achieve their potential without having to act unfairly to the disadvantage of others. They increase efficiency and are not likely to close operations since they have some loyal customers. In addition, such firms are able to achieve better stable growth.
Entry into a business is quite easy when there is freedom of entry and exit without some firms wanting to lock out any new entrants to their line of work. This increases competition which in turn improves their ability to meet increases in demand. The resulting products are also in compliance with Malawi culture therefore reducing incidents of customers rejecting a new product.
New products are developed by new entrants who have identified a gap. This is likely to skew thinking of existing players towards improving their brand. On the other hand, new products and innovations are developed when a fresh thinking is introduced in any industry.
No owner would approve managers to engage in unfair practices as their value would be impossible to determine. They expect them to use the resources on their disposal to create wealth for them otherwise they would be fired. This forces them to maximize revenues and spur innovation to maximize returns.
Users of financial statement expect to have them audited to provide an opinion on whether they are true or not. Expenditures for instance are used by governments for taxation purposes since there are taxable and nontaxable costs. Any fair trade market practice is likely to eliminate incidents of doctoring accounting records.
About the Author:
People interested in knowing about global fair trade market countries can find answers online. They may discover more about these markets and the Malawi culture in their searches.
0 comments:
Post a Comment