Backward and forward linkages describe the economic relationship between the customer and company. The concepts were developed by Albert Hirschman, an influential European economist.Know More
Economics is a social science that focuses on the study of the production and consumption of goods. Further, it seeks to quantify the wealth transfer process used to produce and obtain goods in a given sector. Macroeconomics involves the study of large systems, such as the interactions between countries or in the international market while microeconomics involves the study of smaller systems, such as the interactions between individuals and companies.
The idea of linkages grew out of Hirschman's theory of unbalanced growth and describes the relationships that exist between parties involved along the supply chain. Backward linkages describe the process of how a company in a given sector purchases its goods, products, or supplies from a company in a different sector; these are called inputs. Forward linkages describe the process of how a company in a given sector sells its goods, products, or supplies to a company in a different sector; these are called outputs. In Hirschman's area of study, known as development economics, backward linkages exist when investments in an industry profit from inputs and forward linkages exist when investments in an industry profit from outputs.Learn more in Corporations
The customer service number for Boost Mobile is 1-866-402-7366. Representatives are available to provide assistance Monday through Friday from 4 a.m. to 8 p.m. PST and Saturday and Sunday from 4 a.m. to 7 p.m. PST.Full Answer >
While it is a matter of personal opinion whether Virgin CEO Richard Branson's seven tips regarding customer service success are correct, Branson has certainly proven his ability to serve customers successfully. He owns over 400 companies in many different industries, has made billions of dollars of profit in those companies and is worth over $4 billion himself.Full Answer >
Polyamide material contains repeating amide linkages to offer strong, durable material that resists tears and breakage. Polyamides are used in a wide variety of consumer products.Full Answer >
The phrase "the customer is always right" originated in 1909 with customer service pioneer Harry Gordon Selfridge, who believed that excellent customer service required efforts on the part of all service staff to satisfy customers whenever possible. It is a common mantra or philosophical notion, but it can also be detrimental to employee relations and it presupposes that all customers are equally desirable.Full Answer >