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Colonial Era Business

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1 In Relationship era, business gets a different method which includes long time relation with their customers and how they buy that products by just knowing about their customer’s desires and needs. They interact with their customers and it takes a lot of time to know about each person personally. The companies who have long term customers, they don’t have to give discounts to make new customers because their regular customers help them by just referring that product or company. The companies get a lot of benefits from their existing customers as the relationships between the customers reduce their overall costs. During this era, business did not confine to one nation only but it grows beyond boundaries. Business Etiquette: - Social network …show more content…

A.2 Six eras are: -
1. Colonial period: - Rural and agriculture production were main features of colonial society. North America mainly focused on rural area because success and failures of crop had direct impact on every aspect of economy. Europe provided help for manufactured items and financial help to colonists and this kept on going even after American Revolutionary War (1776-1783).
2. Industrial Revolution: - In 1750, with the introduction of industrial revolution, the way of doing businesses changed completely. In this era, raw materials could be easily bought at cheap rate and specialised labours played important role in increasing production. This period factories were set up in cities and machines were used in agriculture and it included semiskilled workers too.
3. The Age of Industrial Entrepreneurs: - this era enhanced opportunities due to this it has a positive impact on entrepreneurship in Canada through advancement in technology. It was popularly known as “Golden Age” and this also improved the standards of people of …show more content…

A.3 There are three facets of 21st centaury manager: -
1. Vision: - It is the ability to understand the demands of market and ways to fulfill that demands. Like Cameron is blessed with the ability to understand the taste audiences. He had such a faith in the success of Titanic that in order to prove his confidence. He played a clever move, instead of getting fees for writing the screenplay and directing, he offered to get percentage of box office sales. In the race of earning profit, Titanic went to replace George Lucas’s Star War after earning more than $25 million in first weekend. 3-D Avatar featured by Cameron won 11 Oscars.
2. Critical Thinking and Creativity: - Critical Thinking is the ability to observe and get information to know about problems and opportunities. Authenticity, accuracy, worth of information, knowledge and argument all come under critical thinking. Creativity is defined as the effective and various ways to do business. Mental exercises can help to develop creativity. Such example of creativity was observed when Captain Chesley Sullenberger made immediate decisions and by this he saved the life of his crew members and

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