There are many factors that fostered the success of Banyan Tree Hotels & Resorts. First, the chain of hotels was created at a time when the niche of premium hotels was not yet filled by Hilton and similar hotels. Therefore, the only thing the founders needed to do was to establish effective communication strategies and further implementation and the launch of a new competitive business venture.
A payroll software manages the entire financial records of employees’ salaries and wages, bonuses, and deductions (Bourne 2014). Generico intends to develop a payroll system that would enable it manage employee salaries and other human resources management issues more effectively.
Inventory control is an important activity in any business. The reason is that the operation entails the management of a business’ inventory. As such, without a system in place to manage the inventory, a firm may find itself out of business for there will be nothing to offer to customers or there may be excess stock that will eventually increase the total cost incurred by a firm.
When one considers economic development and various industries, one rarely thinks about medicine. Even though the enormous medical expenses are no secret, people associate medical professionals with the hope for a longer and healthier life, not with a system that sees that people as clients and a source of profit.
The concept of co-operative as a business model is unique and constructive. It is influenced by the same economic circumstances and factors, but differs from the other business models due to such key constituent elements of its paradigm as the form of governance, type of ownership, and beneficiary aspect.