scale of preference

[Mataracy]

The word scale of preference simply means a concept that drives to satisfy the want of an individual in order of their priority and importance.
In business the must important things must come first.
When you want to start a business you Dont rush to buy goods that you want to put to Shop first but instead you first list how you go about the the business like,
(1) Making research on the place you want to stage your business
(2) Check the surrounding if there is no competitors
(3) How to promote your business
(4) The type of products you want to sell
(5) How to raise fund for the business if you don't have enough resourcea on ground.
(6) The price you wnat to sell your products.
As a business oriented somebody I believe this is part of what to take into consideration before one enter in to business.
And I will still appreciate your own opinion concerning these.

 

[Donkiz]

In life generally, if you don't know how to forego some things, if you don't know how to choose things that are of utmost importance from your list of wants and needs and put them in a scale of preference according to their level of importance, then you are bound to have misplaced priorities which will lead to lots of mistakes.

You must always find a way to do things in orderly manner, either in business, career, jobs, family, etc. It will help you become a more organized and productive person.

 

[Ralphjoe]

Scale of preference is one of the most exciting topic I learnt in my economic class and now applying it to business is all a wonderful opportunity to make business more innovative and rewarding for a businessman. In life we just have to prioritise all what we need to do at different times of our life. The various priorities we attach to the different task that we do is called scale of preference.
Scale of preference in business refers to those things that you need your business to achieve and the ones that you think are the more importance arranging them in a descending order from the most important to the least important. This is what scale of preference should be all about in business.

 

[IamDozzy]

This one of the topics in Economics I can never forget because it applies to the everyday things we do in life. We either consciously or unconsciously use Scale of Preference in our decisions, activities, investments etc. I dare say it is one concept that is critical to the survival of man from the dark ages to the 21st century. Another Economics concept that is also important is Opportunity cost. Scale of Preference and Opportunity cost go hand in hand in the decisions we make. I would advise everybody both old and young to study these Economics concepts and know how to optimally make use of them.

 

[Olajidey]

In business, you have to make good planning which is called business planning, and this planning includes the listing of all your plan, you list it according to most priority down to the less priority so that when you are acting on the list to act accordingly to how you make the list from most priority. This helps to checkmate some circumstances that would have hindered the business is you did not that the action of listing and acting on the plan.

 

[Ummigal]

It is also expected that a business person should add more idea on promoting his business in the future. A business where one can not give a projected estimate of where he would want to be is not sustainable in the long term. You should be able to think of several ways to reform your business in case of any unforeseen and unprepared circumstances like crisis, economic downturn or even a pandemic. An also very important is what problem(s) is your business solving in the society.

 

[Joseph555]

When starting a business they must be scale of preference roll out every worker of a company be it skill or unskilled labour,
It is pertinent to note that any company that wants to succeed must keep the rules and regulation covering the business.
Planning must not come shot is that your business it must be at the top Carry out daily.
If you want your business to succeed don't play with your mission and never you drop your guards.

 

[Sammyesx]

Scale of preference is very important In business, human needs or want are mostly numerous, for one to make the right choices there should be a scale of preference, especially in business were making the right choice Is very necessary, a business plan should be able to solve this issue. With a good business plan one will definitely be able to pick the most important need at every point in time so as to elevate the business