Introduction to Business Law
Chapter 1-7
The underlying theme under these topics is on how to effect social responsive investing. This as the type of investing in which the corporate organization gives back to the community in which it operates (Jeffery, 34-78). This could well be undertaken through involvement in events organized by the firm so as to better the living conditions of the community.
The gains from such activities are that they act as platforms for advertisements. The corporate organization gets to advertise the services or products it offers while undertaking these programs. Furthermore the individuals who benefit from the firm would consequently develop a sense of patriotism to the firm and this is a smart way of developing a steady supply of customers.
Chapter 9-13
These topics generally analyze the effects that advertising plays in brand visibility. Advertising is best defined as any paid form of non personal representation of good and or services by an identified sponsor. It is mandatory that any business venture advertises the products it is offering in the market. The main objective of advertising is to i9mprove the visibility of the product. Properly undertaken adverts have positive consequences in as far the increment in sales is concerned (Jeffery, 98-144).
Care must be taken though sop as to identify the most appropriate media through which to advertise the products. First it is mandatory that the firm identifies its market segment. With the market segment that the firm’s product targets, the next task is determining how best to get to them. A product that can be sold online and targets the youth can best be advertised on the social networking sites such as face book, twitter among others. While another that targets football lovers such as beer, would best be advertised on super sport.
Chapter 16-19
These four chapters address the different ways of profit determination in a firm. The profit must be well balanced so that it covers all the costs that were connected to the process of production. However it calls for the placement of a not so very large profit margin so as to make the goods or services have a positive response (Alexander, Britton and Jorissen, 231-233). The first strategy is to lower the prices this would see to it that a single product fetches very little profit but there is a likely hood of the firm selling lots of products thus making more net profit.
Chapter 20
This chapter addresses the all important topic of risk management in the market. There are several risks that a business venture would find itself in; almost every single activity that is carried out in the firm has a significant amount of risk attached to it. The simple incentives that a firm would tag on its products so as to improve sales must be properly scrutinized and effected with very keen skepticism necessary. It therefore calls for realistic offers that would have effects that the company would comfortably bear (Jeffery, 201).
Works cited
Alexander, Britton and Jorissen. International Financial Reporting and Analysis (5th edition). Oxford: oxford university press. 2010 print
Jeffery, F. B. Introduction to Business Law 3rd Edition. Boston: Boston University press.
2001 print
