Managing The Business 2

Licensing is a business arrangement in which one company (the licensor) gives another permission to manufacture and sell products bearing images to which it owns the copyright. In return the licensor gets all the revenue from products sold under the license.

From a manufacturing or retailers perspective, buying the licensing rights to a popular character can;-
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A license will;-
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A license may specify a minimum sales revenue, or that royalties reach a minimum amount.

An ethical approach aims to;-
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The Product life cycle is the series of events that sees a new product come into existence, and follows its growth into a mature product, potential expansion, critical mass and eventual decline.

There are those who argue that the objective of any company is firstly to make a profit, and that many organisations have a stated aim off maximizing shareholder returns, in which case sacrificing profits to ethics may conflict with director’s fiduciary responsibilities.

Business success often depends on entrepreneurs and management teams recognising where the business is positioned in the life cycle and developing the most appropriate strategies for that stage in the cycle, and their plans and ambitions for the business.

A new business development manager can take action to extend the life of the business. This may involve;-
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Ethical Policy may cover:-
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