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Ideally, a market is a place where two or more parties are involved in buying and selling. The people involved in marketing are the buyer and the seller. The seller earns money as a buyer purchases the products. There has to be more than one buyer and seller for the market to be competitive. There are different types of market structures that can characterize a country’s economy. There are four basic types of market structures:
Perfect competition describes a market structure, where a large number of small firms compete against each other. This market structure is a theoretical model that does not exist in the real world and is instead used as a benchmark to measure other types of markets.
The monopolistic competition also refers to a market structure, where a large number of small firms compete against each other. However, this market structure will no longer result in a socially optimal level of output, because the firms have more power and can influence market prices to a certain degree.
Oligopoly describes a market structure which is dominated by only a small number firms.
Monopoly refers to a market structure where a single firm controls the entire market.
The e-commerce industry has become so fierce, that surviving has become a matter of concern. With internet fostering the birth of many newcomers threatening reputed players, the need for differentiating on the basis of customer service experience has become as critical in modern times.
Lack of Verification Measures
Once a customer signs up in an e-commerce portal, the portal is unaware of the customer except for the information he/she entered. The credibility of the customer is questionable.
Product Returns and Refunds
When products are returned because customers are unsatisfied with the product, it scars the business with heavy loss on shipment and reputation.
Achieving Long-Term Sustainability
Increasing sales is one way to grow the business but in the end, what matters most is profitability.
The e-commerce industry is an industry where the cost of switching is pretty insignificant.
Selling the Right Product
Online shops have fulfilling services, it enabled sellers from all over the world to easily reach paying customers. All of this has made it very difficult for retailers to source unique products unless they decide to manufacture your own.
K-12, a term used in education and educational technology in the United States, Canada, and possibly other countries, is a short form for the publicly-supported school grades prior to college. These grades are kindergarten (K) and the 1st through the 12th grade (1-12). The Philippines is the last country in Asia and one of only three countries worldwide with a 10-year pre-university cycle (Angola and Djibouti are the other two). A 12-year program is found to be the best period for learning under basic education. It is also the recognized standard for students and professionals globally.
After officially being signed to law in 2013, the k to 12 programs triggered a large amount of curiosity, questions, controversies, and confusions to among the Filipino people, including parents, students, and even teachers. At the time, it was a topic that was often discussed yet rarely understood. With the new educational system required by the government, Filipinos have no other choice but to embrace it. In the first place, each one will profit from the new scheme because it follows the international standard.
Apart from the core curriculum, which has eight learning areas, the new senior high school system comes with specific career tracks that seem like college courses. They include certain disciplines.
* Arts and Design
* Technical-Vocational-Livelihood (TVL)
The Academic track prepares students who plan to pursue a college education and comprises four strands.
The focus of the rest of this article will be on what the curriculum offers those who join the Accountancy, Business, and Management strand of the Academic track. This strand is designed as an introductory course in accounting and business and management where students are trained to think logically and scientifically and are acquainted with the rudiments of accounting, business and management concepts and principles in order to prepare them to pursue college degrees that focus on business and industry where their contribution as future accountants, entrepreneurs, and business leaders are vital to the progress and development of the economy and critical to the promotion of a sustainable green business.
The Accountancy, Business, and Management (ABM) Strand of the Academic Track of Senior High School (SHS) has nine specialization subjects, namely: Applied Economics, Business Ethics and Social Responsibility, Fundamentals of Accountancy, Business, and Management 1, Fundamentals of Accountancy, Business and Management 2, Business Math, Business Finance, Organization and Management Principles of Marketing, Work Immersion / Research /Career Advocacy / Culminating Activity.
It should be remembered that these subjects have different content and competencies, which will be determined by the circumstances of the students, the school, and the Higher Education Institutions (HEIs) in which the students are most likely to enroll. This strand could lead to college courses which include:
* Management Accounting
* Banking and Finance
* Business Administration
* Marketing * Entrepreneurship
* Human Resource Development Management
* Hospitality Management
The idea that “one size fits all” has been abandoned by the Department of Education (DepEd). A lot of leeways is given to Senior High Schools since the main and really the only reason that two years were added to basic education is to prepare students for their future lives. It makes no sense to force a student to follow a predetermined curriculum if s/he has something else in mind for herself or himself.