Traditional business refers to a traditional business that has a physical store or stores where customers browse and shop in person.
Traditional stores of this kind have had a hard time in the digital economy, with online retailers like eBay or Amazon benefiting from lower operating costs and more flexibility for shoppers.
Many traditional business as usual have created concurrent, Internet-connected businesses to better compete with Internet-only firms.
“Similarly, the long-standing and important brick-and-mortar model has influenced some previously online-only companies that have opened physical offices to realize the benefits of traditional retail.
Evaluation costs are the fees a company pays for discovering defects in its products before they are delivered to customers; they are a form of quality control.
The articles of association can be seen as a user manual for the company, defining its purpose and outlining the methodology for carrying out the necessary day-to-day tasks.
When a company or government agency buys or leases existing manufacturing facilities to launch new manufacturing activities, this is called an investment in existing facilities.
The Code of Ethics sets out the ethical principles of the organization and the best practices to be followed with respect to honesty, integrity and professionalism.