Managerial economics individual work week 12 Essay

Managerial economics individual work week 12 - Essay grammatical caseHowever, saying that you will open a given type of business because you are good in matchless thing would be a myth. That is because they do not always lead to victoryful ventures as other factors such as demand, opportunities and resources also affect performance of the venture.It is a myth to say that the node is always right. In as much as the customer may be right in how he or she feels, they are usually wrong on many occasions. Businesses just use the bid to bend to the customers demands. However, the best approach would be to win the customer over and movement to convince them to make a purchase.Thinking that you can open a store, and people will offer, is a thought founded on a myth. For customers to visit a shop, they must first be aware of its existence. Therefore, one needfully to create this awareness through marketing or advertising. Also, customers do not just walk in unless you have what they n eed.Coming up with an mood and concluding that everyone will love it forms a myth. An idea may be great, but not everyone will love it. An idea will succeed if it meets the needs of people and also if the timing is good.Everyone loves quality. However, it would be a myth to say that quality guarantees success. That is because apart from quality, success also requires other factors such as a good marketing strategy, pricing strategy and flush good customer relations.It is a myth to say that more people increase the speed of a project. On the contrary, more people may slow crop up the project. A large number slows down decision making as there is need to consult every time. Also, there may be conflicts during execution as the people may have different ideas of how to carry out the execution.To say harm is bad would propagate a myth. nonstarter is not the opposite of success. In fact, it is one step towards success. Failure helps us learn our weaknesses and mistakes. It makes us r eflect on our decisions that led to the failure. One can,