MGM101H5 Chapter Notes - Chapter 11-13: Psychographic, Subculture, A.D. Vision

• School: UTM
• Department: Management
• Course: MGM101H5
• Professor: Dave Swanston

Document Summary

Why do firm"s need funds: funds need to be available for all operational costs of the business, (people expect to be paid on time, controlling credit operations, firms that make credit available will have more customers, firms generally accept mastercard of visa (customers credit history, acquiring needed inventory, make sure there"s shit for customers to buy, and no wait times, just in time inventory, making capital expenditures, capital expenditures are major investments in long term assets, or intangible assets such as trademarks, copyrights, and patents. Short term loans (different forms: secured loan: loan backed up by something valuable (property, unsecured loan: not backed up, line of credit: an amount of unsecured funds a bank will lend to a business, revolving credit agreement: line of credit approved by bank, commercial finance companies: organizations that make short term loans to borrowers with tangible assets.