Finance: Marketing costs money, having an advertisement broadcasted on television or on a radio costs a significant amount of money. Gathering research on marketing for your business will also cost a lot of money. Organisations with low finance may have to resolve on gaining data for the organisation that is “cheap” and acquired from secondary sources which a lot of the time isn’t exactly precise but it’s still better than nothing.
Time Constraints: Time is extremely important for any organisations. Fashion organisations would need to time the release of new brands effectively; it’s pointless releasing a new range of winter clothing in the middle of summer. Another good example is the battle between Samsung and Apple, these two organisations will be patient and wait for the other to release information on their new product, so if Samsung released information about their new mobile being Water proof then Apple could then go away and use that information to their advantage and make their phones water proof also.
Reliability of Data: Data can be acquired in many different ways, what’s important however is if the data you’re receiving is reliable or not. Primary and secondary sources are extremely important to organisations; it can be the vital difference between gaining reliable data and receiving poor data. Research on data costs money, and the better the data, the more likely the organisation will have to fork over a lot of money, which then greatly effects finance limitations and constraints.
The Essay on Money Adr Save Time
Alternative Dispute Resolution Edwin OlmedaUniverstity of Phoenix BUS/415 Israel Camacho-AliceaJune 15, 2005 Alternative Dispute Resolution is the most important aspect in the court's structure because it allows to resolve disputes before ever having to spend money or time. Having to use the court system to resolve disputes can take several years and cost a lot of money. Companies have taken into ...
Legal and Ethical: The data protection act is the best example for Legal and Ethical Constraints. The data protection act means market researchers can only collect and hold specific data, and the data they do collect has to be kept secure and only used for lawful purposes. Any data collected has to be collected for a reason.
