Everyday business dealings

FOREWORD
First of all, the author would like to express his thanks to the presence of Allah SWT,
because by His mercy and grace, the title "EVERYDAY BUSINESS DEALINGS" was
completed on time. This paper is one of the requirements to fulfill Dr. Pipit Rahayu,
M.Pd, lecturer in English for Business.

The author also expresses his gratitude for all his guidance so that he can complete this paper.
In completing this paper, the author faced many obstacles, but with the help of many parties,
all these obstacles could be overcome. May Allah SWT give them blessings. This paper has many
shortcomings in its preparation and explanation, but the author hopes it can be used as a
reference for readers to understand it.

Rokan Hulu, 07 November 2023

Author

TABLE OF CONTENT
CHAPTER 1
 INTRODUCTION
1. Background
In the business world, everyday business dealings are an important part of
building a successful business relationship. This activity involves interaction
between individuals, companies, and organizations in the daily context of
business.
In the emerged globalization era, daily business transactions play an important
role in spurring the economic growth of a country. Everyday business transactions
are the foundation of a dynamic global economy. And in the current era of
globalization, it is important for companies and individuals to understand the
importance of everyday business handling.
This paper will explain the importance of everyday business dealings in building
strong business relationships and provide insight into the best practices that can
be applied.
2. Formulation of the problem
1. Definition of everyday business dealings?
2. Anything Common aspects of everyday business dealings?
3. Anything The role of daily business transactions in economic growth?
4. The Importance of Effective Business Dealing?
5. Anything Characteristics of Successful Business Dealings?
6. Anything The activities that are involved in everyday business dealings?
7. Anything Strategies for Improving Business Dealing Skills?

3. Purpose of the paper

1. To know definition everyday business dealings
2. To know the common aspects of everyday business dealings
3. To know the role of daily business transactions in economic growth
4. To know The Importance of Effective Business Dealing
5. To know characteristics of successful business dealings
6. To know anything the activities that are involved in E B D
7. To know anything Strategies for improving business dealings skills

CHAPTER 2
DISCUSSION
1. Definition of everyday business dealings
Everyday business dealing refers to the interactions and negotiations that occur
on a regular basis in the business world. It is crucial for success in any industry, as
it affects relationships with clients, partners, and colleagues.
Everyday business dealings refer to the daily activities that a business and its
employees engage in for the purpose of generating a profit and increasing
organizational value. These activities include financial management, sales,
marketing, customer service, human resources, accounting, and finance.
Everyday business dealings refer to the various tasks carried out in an
organization and the daily assignments of diverse employees that align with the
company goals and lead to the firm's overall profit. These activities are essential
for generating income and increasing the company's value.
Daily business transactions refers to any purchase, sales, and exchange, exchange,
or information related to the local and global market. This transaction covers
various aspects of business, including e-commerce, retail, financial services, and
others. The scope of across the industrial sector, building complex and
interconnected economic networks.
2. Common aspects of everyday business dealings
Everyday business dealings refer to the routine and regular activities that
businesses engage in to conduct their operations. These activities are essential for
the day-to-day functioning of any business, regardless of its size or industry. Here
are some common aspects of everyday business dealings:
1. Communication
Businesses communicate internally among employees and externally with
customers, suppliers, and partners regularly. This communication can take various
forms such as emails, phone calls, meetings, and presentations.
2. Sales and Marketing:
Businesses engage in activities to promote their products or services, attract
customers, and make sales. This involves advertising, sales calls, promotions, and
other marketing strategies.
3. Customer Service:
Providing excellent customer service is crucial for retaining existing customers and
attracting new ones. Businesses handle customer inquiries, complaints, and
feedback on a daily basis, striving to meet customer needs and ensure
satisfaction.
4. Financial Transactions
Businesses handle financial transactions daily, including invoicing, payments,
payroll processing, and managing expenses. This includes interactions with banks,
financial institutions, and accounting tasks.
5. Supply Chain Management
Businesses deal with suppliers to ensure the timely delivery of raw materials,
components, or products. This involves procurement, inventory management,
and maintaining good relationships with suppliers.
6. Human Resources
Businesses manage their employees, including recruiting, training, performance
evaluations, and handling HR-related paperwork. Human resources activities are
ongoing to ensure a skilled and motivated workforce.
7. Decision Making
Business leaders and managers make decisions daily, ranging from strategic
choices to operational issues. These decisions impact various aspects of the
business, including finances, operations, and customer relations.
8. Compliance and Regulations
Businesses need to comply with legal and regulatory requirements. This includes
filing taxes, adhering to labor laws, industry-specific regulations, and maintaining
licenses and permits.
9. Problem-Solving
Businesses encounter challenges regularly, and employees engage in problem-
solving to address issues efficiently. This can involve troubleshooting technical
problems, resolving conflicts, or finding innovative solutions to improve
processes.
Effective everyday business dealings require efficient organization, clear
communication, strategic planning, and adaptability to changing circumstances.
Successful businesses navigate these daily tasks with professionalism and agility
to maintain their operations and foster growth.
3. The role of daily business transactions in economic growth

1. The driving force of economic growth

Daily business transactions create constant demand, encourage production, and

enables the company to develop, create employment and increase national
income.

2. Product innovation and product development

Through daily transactions, the company obtained valuable consumer feedback.

This triggers innovation of products and services, meets the changing market
needs and creates more efficient and quality products.

3. Increased Community Welfare

By involving more people in the economic process, daily business transactions

increase the purchasing power and welfare of the community. It is opening access
to education, health care, and investment possibilities.

4. The Importance of Effective Business Dealing

1. Building Trust and Rapport

Effective business dealing allows you to establish trust and rapport with
stakeholders, fostering long-term partnerships and collaborations.

2. Gaining Competitive Advantage

By showcasing strong negotiation and communication skills, you can gain a

competitive edge in the marketplace.

3. Ensuring Smooth Operations

When business dealings go smoothly, tasks are completed efficiently and projects
progress without unnecessary delays or misunderstandings.

5. Characteristics of Successful Business Dealings

1. Active Listening

Active listening involves paying full attention to others, seeking clarification, and
understanding their needs and concerns.

2. Effective Communication

Clear and concise communication is vital, ensuring that messages are conveyed
accurately and understood by all parties involved.

3. Win-Win Mindset

Successful business dealings focus on finding mutually beneficial solutions, rather

than one-sided outcomes.

6. The activities that are involved in everyday business dealings

Here are some of the activities that are involved in everyday business dealings:

1. Recording transactions

Entrepreneurs must record their day-to-day sales, purchases, and other

transactions to keep track of their business's financial health.

2. Separating personal and business transactions

It is essential to keep personal transactions separate from business transactions in

accounting software to avoid complications in record-keeping and tax problems.

3. Staff meetings

Calling an all-staff meeting or interdepartmental meeting once a day will give you
the chance to make sure all employees are on the same page about daily tasks
that need to be completed and responsibilities that need to be met to attain
specific business objectives.
4. Team-building activities

Daily team-building activities may include a "time-out" meeting where employees

are required to participate in mingling and announcing each other's recent
professional accomplishments to the room.

5. Maintaining a professional demeanor

It is important to maintain a professional demeanor at work, including dressing

appropriately, keeping side conversations to a minimum, and being detail-
oriented.

6. Understanding the legal environment

It is essential to understand the legal environment of business to avoid liability or

minimize risk[6]. The rule of law governs contracts between people and between
merchants, between employer and employee, and between different business
partners.

7. Strategies for Improving Business Dealing Skills

1. Continuous Learning

Stay updated on industry trends, negotiation techniques, and effective

communication strategies through books, courses, and workshops.

2. Empathy and Emotional Intelligence

Develop your ability to understand and connect with others by practicing

empathy and honing your emotional intelligence.

3. Strengthening Negotiation Skills

Invest time in improving your negotiation skills, such as identifying win-win

solutions and mastering the art of compromise
 CHAPTER 3

CLOSING

Conclusion

Everyday business dealings/transactions are the main drivers of stable and

sustainable economic growth. Under the implementation of the importance of
creating employment, increasing revenues, and encouraging innovation,
government and companies can work together to create a business environment
that supports sustainable economic growth. In the face of challenges such as data
security and market diversification, the collaboration between the public and
private sector will be the key to achieving success in everyday business
transactions.

REFRENCE

https://www.wolterskluwer.com/en/expert-insights/daily-recording-of business-
transactions

https://smallbusiness.chron.com/daily-activities-successful-business-31283.html

Study.com https://study.com/learn/lesson/day-to-day-business-operations-
overview-functions-examples.html
https://study.com/academy/lesson/day-to-day-operations-of-a-business-
definition-lesson-quiz.html

https://www.ccu.edu/blogs/cags/2018/09/10-tips-for-everyday-business-
etiquette/

https://www.linkedin.com/pulse/what-happen-our-everyday-business-life-rule-
law-genet-hailu-

https://www.wallstreetmojo.com/business-transaction/