Business Finance
SCSU Cooperative Relationships and Unrelated Diversification Questions

Saint Cloud State University

Question Description

I’m studying and need help with a Management question to help me learn.

  • What steps would you recommend that a company take to build mutually beneficial, long-term, cooperative relationships with its suppliers?
  • When is a company likely to choose (a) related diversification and (b) unrelated diversification?
  • How can related diversification create a competitive advantage for the firm? What challenges might firms confront in achieving competitive advantages through related diversification strategy?


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the essays should be your own words, not cited from any other materials including the textbook. The length of your essay per each question should be about one (1) page, double-spaced, per question.

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Final Answer

Attached.

Running Head: QUESTIONS ON SUPPLIERS

Questions on suppliers
Student’s Name
Institutional Affiliation

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QUESTIONS ON SUPPLIERS

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What steps would you recommend that a company take to build mutually beneficial, longterm, cooperative relationships with its suppliers?
Building good, long term, and cooperative relationships with suppliers are something very
beneficial to a firm. Just like any other relationship, communication is an important tool in
ensuring that you build a mutually beneficial, long term cooperative relationship with suppliers.
Regular communication with the suppliers can improve and strengthen the relationship between
a firm and its suppliers. In addition to that, for a firm to build good relationships with its
suppliers, it is important to communicate any aspects that may affect the suppliers in advance so
that transactions with the supplier run smoothly.
Another important factor to consider in an attempt to build beneficial relationships with suppliers
is the financial aspect. Since a relationship between a firm and its suppliers is a business
relationship, it is essential to an honest business partner. Paying suppliers on time can go a long
way in building a healthy and long term business relationships. Most of the relationships
between suppliers and firms experience challenges as a result of late payments. No supplier
wants to be in a business relationship with a firm that pays late if they have other options, and if
they stay, the relationship will be strained. A relationship between a firm and its suppliers could
be better if a firm ensures that they make their orders in good time, so it has to avoid putting
unnecessary pressure on the suppliers to meet difficult time schedules.
When is a company likely to choose (a) related diversification and (b) unrelated
diversification?
Related diversification comes in when a firm decides to venture into other product lines that are
related to the product line that that firm has been dealing with previously. Companies or firms

QUESTIONS ON SUPPLIERS

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venture into related diversification for various reasons and in various ci...

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