Question

What lesson of the business did you learn? Please think of ?? unconsummated wealth-creating transaction (or a wealth-destroying one) within your organization. How to profitably consummate it (or deter it)?

(can be any business segment but has to be 250 words with a citation)

Answer #1

The lesson of business learned by me are as follows:

1. **Optimization of process** thereby an
error-free product as per customer requirement. This will lead to
less return and negligible customer dissatisfaction.

2. **Reduction of cost:** Reduction of cost of the
product by trying to minimize the cost either by attaining
economies of scale or reduction in overheads cost.

3. **Forecasting demand accurately thereby minimal
wastage:** Accurate forecast thereby production according to
demand

4. **Selecting project with high and a positive
NPV:** Selecting the project with higher Net Present Value
thereby assuring it is a profitable venture.

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