In order to make wise business decisions you need to understand human behavior, in other words it takes one to know one. People tend to act in their own self-interest when making financial or other life decisions. Just as this applies to our personal lives, it also occurs the same in business settings. Companies are always looking for ways to better themselves financially, as well as maintain a good public standing. At least in the cases where public standing is important to the success of the company, then again when it is not a good thing! Businesses want to make the most of any transactions they are involved in, financial or otherwise.

Keeping this self-interest concept in mind, companies looking to service other companies need to also consider how this business frame of mind affects them. When developing a customer support system companies offering both goods and services need to consider what the customers and clients want and need from their business. These needs can vary from the level and type of support provided to the quality and availability of their products and services. Additionally the opportunity cost of providing high quality goods and services has to be considered. In other words, will you see a big enough payoff from the costs that your business expels in order to best serve your customers. Weighing the benefits and the risks involved in cost savings and process improvements is an important step in deciding what areas to focus on. All in all knowing what you and your business are dealing with when encountering other companies and the people in them is essential when making critical decisions for the future of the business relationship.
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Jennifer Ulrich

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  1. You have hit the nail on the head!To add to this-customer service, both internal and external,(also part of self interest) can either have a postive or negative impact on all lines of busness-espically in this economy.

  2. The problem with Amwerican companies today is they don't seem to care about relationships. Whether they are internal or external. The bottom line is what they and their stockholders are interested in. Maybe that is why the American manufacturing base is gone, not to be returned in the near or far future.