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Business term of the day - Term for August 13, 2013: "Business relations"

Business relations are relations between stakeholders in the business process, such as employer-employee, the employer/employee and business partner, employer/employee-outsourced employee relations, etc. First you have to establish a relationship (channels: phone call, personal contact, email, etc..), later you have to properly maintain and deepen them (channels: phone call, personal contact, electronic mail, informal meetings, etc.). The relations are managed.

The aim of business relationships within the company's commitment are motivation to work and loyalty, the objective of business relationships with external stakeholders are increasing business performance and company image.