Theory and practices of negotiation Essay Example for Free

Hypothesis and practices of arrangement Essay Definition When you hear the word arrangement, what starts things out to mind? Exchange is quite often an ordinary exchange being managed by all of us. To be sure, how frequently do you haggle regularly, sometimes, or never? Everything in life is arranged, under all conditions, consistently: from requesting that your folks carry you to the shopping centers to take out the morning trash to driving in the express path in heavy traffic, from figuring out what time to plan a meeting with a customer to choosing which television program to watch with your familyâ€to some degree, each aspect of life is connected with one’s utilizing of exchange. Arrangement happens at whatever point individuals trade thoughts with the aim of changing connections or at whatever point they present for understanding. Another definition growing somewhat the above significance of exchange is to take note of that arrangement is directed neither to extend nor to penetrate the relationship, yet to frame some other design. To put it plainly, the vast majority of us are continually associated with arrangements to some degree for a decent piece of some random day. Arrangement ought to be considered as a positive method of organizing the correspondence procedure. It is typically more than supportive in one’s workplace and in shutting manages new customers or possibilities. Win-win arrangement abilities are resources for an organization particularly on the off chance that you will be accountable for promoting new and pioneer items to the market. Successful exchange encourages you to determine circumstances where what you need clashes with what another person needs. The point of win-win exchange is to discover an answer that is satisfactory to the two gatherings, and leaves the two gatherings feeling that theyve won, somehow or another, after the occasion. Getting ready for a fruitful negotiation†¦ Contingent upon the size of the contradiction, some readiness might be suitable for directing a fruitful arrangement. For little contradictions, over the top readiness can be counter-profitable in light of the fact that it requires some investment that is better utilized somewhere else. It can likewise be viewed as manipulative on the grounds that, similarly as it reinforces your position, it can debilitate the different person’s. Be that as it may, on the off chance that you have to determine a significant difference, and afterward ensure you get ready completely. Utilizing our free worksheet, thoroughly consider the accompanying focuses before you begin arranging: Objectives: what would you like to escape the exchange? What do you think the other individual needs? Exchanges: What do you and the other individual have that you can exchange? What do you each have that different needs? What are you each open to parting with?  Alternatives: on the off chance that you don’t agree with the other individual, what options do you have? Are these fortunate or unfortunate? What amount does it make a difference on the off chance that you don't agree? Does inability to arrive at an understanding cut you out of future chances? What's more, what options may the other individual have? Connections: what is the historical backdrop of the relationship? Could or should this history sway the arrangement? Will there be any shrouded issues that may impact the exchange? By what means will you handle these? Anticipated results: what result will individuals anticipate from this exchange? What has the result been before, and what points of reference have been set?  The results: what are the ramifications for you of winning or losing this arrangement? What are the ramifications for the other individual? Force: who has what power in the relationship? Who controls assets? Who stands to lose the most if understanding isn’t came to? What force does the other individual need to convey what you trust in? †¢ Possible arrangements: in view of the entirety of the contemplations, what potential trade offs may there be? Arranging successfully†¦ The exchange itself is a cautious investigation of your position and the different person’s position, with the objective of finding a commonly adequate trade off that gives you both however much of what you need as could reasonably be expected. People groups positions are once in a while as on a very basic level contradicted as they may at first show up the other individual may have totally different objectives from the ones you anticipate! In a perfect circumstance, you will find that the other individual needs what you are set up to exchange, and that you are set up to give what the other individual needs. On the off chance that this isn't the situation and one individual must give way, at that point it is reasonable for this individual to attempt to haggle some type of remuneration for doing so †the size of this pay will frequently rely upon the a significant number of the variables we talked about above. At last, the two sides should feel good with the last arrangement if the understanding is to be viewed as win-win. Possibly consider win-lose exchange on the off chance that you dont need to have a continuous relationship with the other party as, having lost, they are probably not going to need to work with you once more. Similarly, you ought to expect that in the event that they have to satisfy some piece of an arrangement where you have won, they might be uncooperative and legalistic about the manner in which they do this.

Copenhagen Is the Best City in the World to Live in Today free essay sample

COPENHAGEN IS THE BEST CITY IN THE WORLD TO LIVE IN TODAY Vanessa He ID num 114162020 Level 4 Writing Research Karley Doucette August 11, 2011 When individuals think about the best things, it varies from individual to individual. Be that as it may, we are for the most part searching for a spot that meets our requirements impeccably, which can be a significant titanic assignment. The tempestuous monetary setting makes the assignment much harder for you. As per some statistical surveying and reviews, there are a bunch of urban areas that were casted a ballot as the best urban areas to live: â€Å"In constantly, Dutch research researcher Ruut Veenhoven (2009) of Erasmus University in Rotterdam has been doing his studies for the World Database of joy, Copenhagen in Denmark has topped the list† (29). I completely bolster that Copenhagen must be the best city on the planet to live in today, since Copenhagen has a genuinely enthusiastic workplace; it is additionally in the bleeding edge of the green development; more than that, Copenhagen despite everything has an engaging excursion time which is government commanded and paid. Copenhagen has an exoteric, casual workplace and an adaptable work advertise. When working in Copenhagen, your public activity at work is focused around the mid-day break and at get-togethers during the year. â€Å"Every year just about 100,000 businesses in Danish organizations partake in a yearly disagreement focal Copenhagen† (Mark 2006, 134), which is a method of lightening working worry just as giving the representatives a chance of mingling. The Economist (2006) announced â€Å"it is Copenhagens uncommon execution on occupations that has pulled in most consideration. Sometimes, â€Å"the Danish work advertise model named under the name of the Nordic Labor Market Model, of which the fundamental thought is that at whatever point a ? rm can't keep laborers beneficial in their present place of employment, the administration should assume liability and retrain workers† (Tor and Niels 2009, 105). In this manner, we can say that one who lives in Copenhagen can offer tho ught to both work and public activity, also, with the administration ensure, you will never need to stress when cutbacks occur. For wellbeing, individuals need to keep themselves, to the most extreme, living a ‘Green Life’. Copenhagen is in the cutting edge of the green development, from its bike way of life and green food to its electric vehicles. With respect to, it is the foremost need of the individuals. In any case, loads of food makers are simply worried about flavor while disregarding the fixings which once in a while include hurtful trans fats. Maria (2006) revealed: Copenhagen is a city that has such forcefully restricted trans fats, passing a law in 2003 that became effective in 2004, making it illicit for any food to contain in excess of 2 percent of trans fat. The Danish wellbeing service reports that cardiovascular illness has fallen by 20 percent in the previous five years. This is an undeniable achievement in food industry. Aside from food, another a valid example is the electric-power pontoons, which are fruitful to such an extent that they can in the end eliminate the diesel-filled ones. The power that controls these batteries originates from the seaward wind ranches. Copenhagen has a considerable lot of these breeze ranches: â€Å"Denmark is a breezy nation and it has been evaluated that 10% of the country’s electrical force can be gotten by building windmills† (Alan 2000, 95-96). So recall, when you ride on these electric-fueled pontoons, you bolster the green development as well as can get the opportunity to make the most of your time with companions totally without commotion or smoke. Along these lines, Copenhagen is to be sure driving the route in helping protect Mother Earth. Coherently, with both food sheltered and natural agreeable benefits, it is no uncertainty the best city to stay. To wrap things up, Copenhagen has a decent measure of excursion time; the feature is that this sort of get-away is government commanded and paid. There’s not at all like a long weekend to make you wish you had additional downtime, particularly in contemporary society. Get-away methods individuals have increasingly save time, and they can have a decent loosening up excursion, which is helpful to their physical and emotional wellness. As per a report, â€Å"Copenhagen, Sydney and Brasilia are the most liberal, ordering a month and a half ofâ vacation. Copenhagen, we should note, has a six-day work week† (Anonymity 1995, 10) . This get-away incorporates 10 paid open occasions and all representatives reserve the privilege to 25 days of get-away consistently. The excess days may exist in certain businesses relying upon aggregate understandings among managers and representatives. For some gatherings an extra 5 days are normal. What may arrive at an agreement is that a plentiful get-away can push us to reconnect with ourselves, which additionally works as a method of self-disclosure and encourages us return to feeling our best. What’s increasingly, the two bosses and representatives can pick up favorable circumstances from worker get-aways. One study uncovered that â€Å"for each dollar of excursion benefits paid to representatives, managers get a 3 dollar return regarding resolve and productivity† (Sharon 2009). Somewhat, get-aways can really bring down the danger of representative demise, just as improve work execution by giving certain medical advantages. By this token, get-away is standard in Copenhagen; that’s the most grounded purpose behind picking Copenhagen as an alluring spot. Whatever stimulates your sense of taste, there makes certain to be something extraordinary in the capital city of Denmark. It is a green city with adjusted working hours and continuous get-aways. So with the fluctuating and dynamic economies of the world, the rundown ofâ best urban communities to live in the worldâ is bound to change, yet now and sooner rather than later, Copenhagen makes certain to be in front of the rest of the competition. So before you make a move, ensure you have refreshed yourself with current data. References Veenhover, Runt. 2009. The most joyful individuals on the planet. Denmark Host Country, December 2 Salmon, Mark. 2006. Culture Smart! Denmark. Briton: Kuperard, an engraving of Bravo Ltd. Jaick, Amy, and Caroline Marrows. 006. Flexicurity-Denmark’ s work showcase. The Economist, September 7. Eriksson, Tor, and Niels Westergaard-Nielsen. 2009. Pay and Labor Mobility in Denmark, 1980-2000. Chicago: University of Chicago Press. Cheng, Maria. 2006. Denmark’ s trans fat tight carries would like to food darlings. Austin American-Statesman, October 29. Jauces, Alan. 2000. Significant World Nations: Denmark. London: Chelsea House Publishers. Secrecy. 1995. â€Å" Take the week off. † Executive Report 14. 2: 10 Yeates, Sharon. 2009. Should laborers be ensured more excursion time? Helium, July 15.

Just World Theory Essay Example | Topics and Well Written Essays - 2000 words

Simply World Theory - Essay Example One of the results of this inclination has been a penchant to consider answerable for the exemplary fatalities. A tremendous settlement of study suggests that individual are impression of assault, hostility and different blueprints of attack are tinted by an individual's own particular manners. However, different issues, for example, distinction of the victim and sexual classification takes an interest a fundamental part in who gets confined for the duty in the focal point of the unfortunate circumstance. The specialists guage those individuals who think in a simply world would assign fatalities more capable than individuals who don't imagine that the world is simply. All individuals were determined for an overall conviction in a simply world scale and a circumstance to decipher about a victim who was confined while fleeing from a conflict at a local bar. The victim, depicted as either having been kept once in the past or having not in the least been confined was situated in jail. On e more detainee a while later assaulted the victim. The individuals were then allowed to rate how liable the victim was for the incident. The outcomes exhibited that individuals whose scores called attention to a predominant conviction in a simply world administer greater duty to the victim regardless of the victim's past capture documentation. The scientists satisfied that conviction in a simply world is scientific of predominant victim blame. In any case, in view of the simply world hypothesis involves that one get what they should have throughout everyday life; the scientists guessed that individuals considering in a simply world would get a handle on the victim guiltier than individuals who didn't. Individuals were likewise given a conviction in a simply world parity in addition to a parity of their assessment of their methodology toward the survivors of AIDS. The results indicated that part's scores on the simply world degree were totally associated with apathetic methodologies toward AIDS casualties. In this way, individuals who detected that the world was simply and sensible were increasingly plausible to charge the people for contracting AIDS notwithstanding of how they choked the disorder. Numerous looks into do in all actuality support the decision that guys are increasingly likely to charge the victim of unfortunate conditions. For example, the examination was made in the secondary school and undergrads contemplations toward assault. Individuals were given an assault moral story receipt scale and eleven short assault circumstances. The scientists found that guys considered mindful the victims more than females did regardless of the circumstance. In an extra examination, individuals were informed two depictions of a story regarding a correspondence among a lady and a man. Varieties were exactly the comparable separated from the inconceivably end the man assaulted the lady in one and in the other he foreseen marriage. Together, in both of the conditio ns, individuals broke down the lady's indistinct procedures as unavoidably prompting the unique results. Studies have uncovered that the individuals who judge in a simply world may be progressively plausible to imagine that assault victims more likely than not acted enticingly that worn out spouses probably defended their thrashings, that evil occupants more likely than not caused their had infection or that the terrible should have their arrangement. Be that as it may, the simply world th

Free Narrative Essay Samples and Examples - What You Need to Know

Free Narrative Essay Samples and Examples - What You Need to KnowYou might be asking yourself, 'What are free narrative essay samples and examples and can they help me?' Well, first of all, a narrative essay is what most people think of when they think of writing. So, you should start off with the basics before you dive into the fun stuff like advanced techniques and parts.Here is a good example of the type of narrative essay that is out there. I know, it's not like the great works of Shakespeare or the classics, but still it is interesting. This is where the reader is interested in what the author is going to say, and what the author says.Examples of this type of essay are abundant. You can use different examples from your favorite authors, books, movies, blogs, and more. The only problem with using a free sample is that most of them are written by other writers.You see, most of the authors that wrote the examples and samples will give a basic part of their essay. But what is missin g is the more advanced techniques and parts that make their story more interesting and unique. It is almost as if they are just trying to impress the reader.You see, the authors that write these free sample have a specific audience in mind. And the audience that you are trying to impress is the one that wants to find the answers to questions that they have on their mind.Example writing is about entertaining the reader. So, that is why the examples are free.But what if you do not like the examples and samples that you find? Or, you do not like the style that is used in the examples and samples. Thenyou need to seek out more writers that write in an amazing style and vocabulary that will grab the attention of your reader.You need to learn to tell the difference between free samples that will teach you how to write your own unique stories. And you need to get to know the authors that write these samples. Then you will be able to read an amazing narrative that will grab the attention of your reader.

MA Identifying and Realizing Synergies

MA Identifying and Realizing Synergies Mergers and acquisitions â€" more popularly known as MA â€" take place for a variety of reasons. The increasing competitiveness in the global business stage calls for firms, companies and organizations to redefine their goals and broaden their horizons while sharpening their business focus. Diversification through the acquisition of, or merger with, other companies and businesses is one method employed by today’s large companies.Mergers and acquisitions are also entered into by businesses for the simple reason that they are seeking growth: growth of their market share, and growth of their company, as a whole. It is also one way of nurturing the growth of their power over costs, pricing, and similar aspects of business.But, aside from these, there is another reason why MAs take place: Synergy, or deriving benefits from two companies or businesses joining its forces together. © Shutterstock.com | LightspringIn this article, you will start learning about 1) synergy defined, 2) synergistic benefits derived from MA, 3) types of synergies, and 4) realizing synergies.SYNERGY DEFINEDYou might have come across the word “synergy” in your readings about MA, and why not? After all, it is said to be one of the most commonly used terms in relation with the subject.Synergy refers to the concept of two companies with complementary strengths and weaknesses combining their respective value and performance, resulting in total value and performance that is greater than the sum of the two companies. It has also been defined as the increase in competitiveness and cash flows beyond what the two companies are expected to accomplish if they maintain standalone operations. If we are going to talk about something more quantifiable, we can say that synergy is that extra value that can be created from a takeover or business combination.It is likened to the concept of two heads being better than one, and of two companies combined together becoming more valuable, more solid, and much stronger than when they are separate.Normally, people have this notion that a merger or an acquisition means that one party wins while the other one loses. The acquiring company is the one that wins, and the acquired company is the one on the losing end. Synergy is not about that.In Synergy, both companies are winners. The shareholders of the acquired company win by receiving a premium from the acquisition. The shareholders of the acquiring company realize increased value thanks to the synergies obtained in the acquisition. It is, for all intents and purposes, a win-win situation. This is the main reason why synergies are said to be the main incentives or driving forces in MAs.But there is one question that has to be answered: when is value, by virtue of synergies, created?Let us say, for example, that Company A, which has a market value of $20 million, is targeted for acquisi tion by Company B, a larger company. After a long and tedious negotiation and applying due diligence, Company B paid $25 million for Company A. Company B paid $5 million more than the value of the company, which means that it has paid a bid premium of 25%.For the shareholders of Company A, they have obtained an increased value in the form of the premium. But what about the shareholders of Company B? At this point, they have not yet seen if paying the 25% bid premium was worth it.The only time that value is created is if the bid premium has been justified, and that is when the acquisition manages to achieve synergies that is equal to, or more than, $5 million.SYNERGISTIC BENEFITS DERIVED FROM MAThe main idea behind Synergy is that, by combining two companies, they can expect financial results that are far greater that what each could have achieved if they did not join forces. Shareholder value is ultimately created, much higher than its value prior to a merger or acquisition.When we speak of synergy, it usually comes in two forms:Revenue synergies, which pertain to enhanced performance, as evidenced by increased revenue.Cost synergies, or greater cost efficiency; more specifically, reduced costs. It points to the savings, particularly in operating costs, after the two companies have joined their strengths.To better understand them, let us try to break down the benefits that companies entering into MA transactions hope to achieve in a synergy merge.Economies of ScaleIn the competitive business field, it is almost always the bigger companies that have the greater power. Size does matter, and so businesses will always find a way to be bigger than the competition. It is a fact that bigger companies have better chances of improving their purchasing power and even finding suppliers that can provide raw materials at low costs. The opportunities for saving more on costs are definitely more than what are available to smaller companies. Bigger companies also have stronge r clout when it comes to negotiations and similar business transactions. Therefore, we cannot really blame companies for wanting to merge, for the simple reason that they want to be bigger.One other advantage of mergers is having consolidated gains, facilitated by the combined companies’ increased focus on its core capabilities and even paying more attention to niche areas.Savings from reduction of peopleMergers result in human resources that are tighter and more compact. Lay-offs and separations come with the territory when it comes to MA. A ship only has one captain, and the combination of two companies means that there will only be one leader of the combined company. A resulting organizational audit will reveal some positions or jobs to be redundant â€" a sure sign of inefficiencies â€" and streamlining the tasks and responsibilities would mean job cuts. This reduction of staff members will result in reduced manpower costs, even after paying the severance packages to those who were let go of.Aside from reduction of people, savings can also be obtained by virtue of the fact that retaining the best people for the tasks at hand would mean there is no longer a need for the resulting company to spend money and other resources in training and educating its employees.Improved market reachThink of one company operating in one market combining with another company that operates in another market. This means that the resulting company will have access to both markets, and the larger economies of scale is also likely to mean that it will have greater potential to reach new markets. The resulting company will also be able to take advantage of new sales and purchase opportunities, due to the expansion of its supply, marketing and distribution chains.The speed with which a company can also enter new markets is faster. Say, for example, that a company wants to enter a new market. The whole process requires acquisition of new resources, educating and training people to f acilitate entry into that market, and developing business models and plans applicable to that market. By acquiring another company or a firm, especially one that already has a foothold in that market you are targeting, or one that has the resources needed, the entry will be sped up.Enhanced industry visibilityA bigger company has a wider market reach, can have better performance and enhanced efficiencies, and eventually have an improved ranking in the industry. This is not the final benefit, though, because the enhancement of the business in the industry also places it in a better position to raise capital or funding, when and if needed.Acquisition of new talent and technologyThe streamlining of the personnel or human resources of the combined company will result in the improvement of your people’s productivity due, in large part, to the discovery of new talent. Combining companies will also mean pooling each other’s technologies together and even sharing knowledge and technical know-how. This would go a long way in helping the company develop and maintain its competitive edge, since it is a fact that being updated with the recent developments and advancements in technology is a vital aspect of business.TYPES OF SYNERGIESThere have been a lot of categorizations for synergies but, in an effort to simplify matters, they have been broken into two forms, as mentioned earlier, which are the Revenue Synergies and Cost Synergies. However, to provide more details, we can further break them down into 4 types: Cost, Revenue, Financial, and Market.Cost synergiesWhen we speak of synergies that involve the reduction or decrease in costs, we are referring to cost synergies. More often than not, these costs include administrative and overhead costs, which can be reduced, or even completely eliminated in some cases, by combining activities, technologies or resources after the business combination. Resources that are not used to their full capacities may also be used up to 100%, and even have extended usage, instead of having to purchase new resources or technology altogether.A good example of cost that can be reduced through MA is research and development. It takes money for a company to conduct RD when developing a new product, or a process, or any other business-related matter. However, by combining resources with another company, the money (and time) usually spent in obtaining the required and desired knowledge will be considerably reduced or, in some cases, even fully done away with.Some of the identified cost synergies, which are mainly achieved thanks to the consolidation of the operations of the combined companies, are:Reduction of employees or job and position redundancies;Reduction of administrative and factory overheads, arising from consolidation of marketing, accounting, information technology, and production line functions;Elimination of excess facilities and integration of complementary technologies, which could also be signified by sh ortening of production processes and disposal of surplus facilities; andIncrease in purchasing power, as manifested in the improved bargaining power of the company with supplies, distributors and other business collaborators.Revenue synergiesThese refer to synergies that increase the revenues of the company. This means that the business combination has enabled the company has greater ability to sell more of its products or services, or even increase its selling prices to generate more revenue. It may include activities such as cross-selling and bundling. It may also involve having an expanded product line and being able to reach more customers or buyers.The most common revenue synergies are:Cross-selling, or being able to sell products to new markets, niches, or customer bases;Marketing, selling and distribution of similar or complementary products, which is applicable when the businesses that have combined belong to the same industry (as is often the case);Gaining access to new mar kets, made possible by the existing foothold of one of the companies to a market that was not previously accessible to the other company;Sharing of distribution channels, where the combination results to having more channels for the distribution of products and services; andReduction or elimination of competition, spurred by the larger and more dominant presence of the two business joining forces.Financial synergiesCompanies that undergo business combination are likely to find themselves enjoying lower costs of capital and improved cash flows. Profitability is also a potential synergy that can be enjoyed by the resulting company, due to these lowered risks, improved performance, and reduced costs.The most common examples of financial synergies are:Higher revenues and cash inflow from sale of products and services of the combined companies;Reduced costs, thanks to the streamlining of operations of the resulting business;Higher profits, by virtue of the improved revenue generation and cost efficiency measures implemented after the combination;Improved capacity of the combined business to handle its debts or liabilities;Lower cost of capital and business risk, made possible by the combination of two business, making for a more solid entity; andPossible tax benefits arising from the combination of the businesses and their operations.Market synergiesThese synergies are often seen in the enhanced negotiation capabilities of the company, particularly when dealing with suppliers and partners, as well as its customers.Some of these synergies are:Greater bargaining and negotiating power, where the company is likely to elicit more trust from suppliers, customers and other business partners, when it is trying to enter into transactions with them;Increased recognition of the combined business in the industry, where two businesses with separate standings are now seen as one entity, with their combination increasing their power in the industry they are in; andStronger standi ng, where the resulting business is bigger, and is less vulnerable to hostile takeovers by other businesses.REALIZING SYNERGIESOne of the harsh realities about synergies that many companies attempting MA often learn the hard way is that synergies do not really count for anything unless they are realized. Being able to identify the synergies is one thing; incorporating or integrating them into MA is another. A failed MA basically means synergies that have defaulted; in short, they are of no use at all.During the integration process, in order to realize synergies, keep the following in mind:Synergies must be looked at from a long-term perspective. After all, they are expected to benefit the business in the long-run, so viewing them form a short-term standpoint will not do the company any good. Keep in mind that businesses do not grow overnight, and profits are realized over a period or length of time. When changes are implemented within an organization, it takes time for it to adapt, and there is no denying that MA is a major change.Timing plays an important role. Many businesses undergoing MA have lost estimated synergies for the simple reason that they were not able to handle some integration issues quickly enough. Thus, it is important to always be kept up to date on issues such as the daily operations as well as maintenance of the business which include, but are not limited to, sales, marketing and other financial transactions.Management and leadership play an important role in the realization of synergies. In short, it is the managers that play the largest role in the realization of the synergies that have been identified. Therefore, it is important for managers â€" from top to middle management â€" to be made aware of their responsibilities and, at the same time, keep them motivated to see that MA through.Involvement of the employees is also vital. It is the employees or the personnel who will carry out the operations of the business. Thus, they play an im portant role in MA as well. Business combination means the people of two companies having to work together, and it is highly likely that either group come from different backgrounds and culture. These differences can play a major role in the realization of synergies and of the integration as a whole.Know your goals and stick to it. Keep your focus during the MA. Otherwise, you will lose sight of what the true goal is, and the synergies will be lost to you. By keeping your eye on the ball, you will be able to easily make moves to adapt to certain situations.Monitoring and feedback. There is a need to always conduct surveillance while realizing synergies. This is so that you can track your progress, and see if you are on track towards the goals you have set earlier.Take note that not all synergies are positive. There are also negative synergies that managers and business people involved in MAs have to watch out for. Some of the more prevalent examples include culture clashes among the people in the combining companies, underutilization of available resources, and reduced operational efficiency.Identifying and realizing synergies is often easier said than done, but when done properly, and with a lot of caution, the results can be greatly satisfying â€" and highly profitable â€" for everyone involved.