is a business term associated with the...
is a business term associated with the acquisition
of goods or services. Purchases are,
therefore, product or services offered by business for the satisfaction of
human wants. It is also a process that is different from different organizations. There are different types of
purchases depending on the products as well as the human want that require
satisfaction. They also use a different
process of purchasing.
One of the different purchases
is associated with health products.
Health care is a basic human want and people cannot live without. It is associated with wellbeing and dictate
an individual’s level of metabolic efficiency which leads to their
functionality. Health also explores the human capabilities of adjusting and adapting to factors of the environment that can
lead to mental physical and social changes. There exists a wide variety of
health issues, and one of the major ones
are diseases. Other issues include injuries from accidents which may cause
fractures, burns cuts and can also be fatal/. Health care is usually provided as a service to the population.
It also has products in the form of drugs, and assistive devices which are given to people with suffering from health
problems. The demand for healthcare is
very high. According to statistics, there are more than 5723 health care
facilities in the United States amiable for the public. These hospitals employ
more than eight hundred thousand physicians who are responsible for taking care
of health care needs of the patients.
The purchasing that takes place as a result of
healthcare, therefore, involves the receiving
drugs or other health services such as checkups,
surgeries, mental evaluations and many other factors. They are offered at a price, and thus people have to purchase. The process of purchase of
health care products and services vary. They are mostly in the form of
insurance whereby people pay premiums, and then an insurance company covers
the cost with the health care providers. They are also in the form of cash where
they are paid for upfront. Pharmacies
deal with payment of drugs upfront using different methods of cash payments. These
forms of purchasing are based on the lack
of ability to predict the development of
health problems. It is for this reason that health care involves the need for
risk pooling using insurance companies that ensure that patients can receive treatment and drugs despite the
high prices (Wiley, Lindsay. and Gene, 2017)
provides another aspect of purchasing. Safety entails the protection from
different forms of harm. There exist different forms of hazard with a
likelihood of causing harm. This leads to
different levels of risk. Risk does exist
in people’s day to day lives but in
different levels. High levels of risk mean that people will have to look for
safety and low levels of risk mean that people can accept the risks. The need
for safety, therefore, creates a business gap which can be filled with the provision of different safety and security
services. Safety and security services are employed to ensure that people lives
are secure environment away from harm. It
ensures that there are peace and harmony.
Safety allows businesses to grow with limited levels of risk. Safety and security
products and services exist in different ways. It can be provided in the form of design and construction of structures
such as a wall surrounding premises. The
wall can have barbed wire on top which restricts the entry of unauthorized
people. Another form of security can exist in the form of hiring security
guards who are standby and watch over premises
ensuring that it stays safe and secure. Security guards can also be complemented with security dogs trained to ensure safety. Safety products include the
use of metal detectors which are used to
detect the presence of firearms or other weapons. Security cameras,
sensors, automatic locks are also examples of security products. Lastly is the provision of safety through insurance. This is usually applied in business and
protects them from accidents. These are all products and services associated
with safety and security. They are usually
purchased to create safe and
secure environments. They are associated
with different forms of purchasing (Dubitsky, and Snopkova, 2016).
is a term that is associated with the
quality of life. The aspect of quality of life measures the level of happiness.
Quality of life is a great component of decision making associated with finances. It observes life satisfaction. Status
is associated with a high quality of
status. It also involves the accumulation of wealth and having excess. A high
social status is associated with having
respect and competence and is usually accorded to people in the society. In
most cases, social status is usually a
factor of wealth. Wealthy people are considered to have a high social status.
They are associated with hard work for
which the rewards are a high level of financial wealth. Luxury products
are the products that are mostly associated
with status. Luxury products include expensive cars, expensive jewelry, expensive
art and they confirm the social status of the people owning them. They also
include services such as dining in expensive hotels and traveling the world. They are products and services whose change in
prices does not change the amount demanded. They have little value other than
social status. However, they can be considered as assets which could be sold to
recover their values. Most luxury products are
usually sold in auctions where potential buyers bid for them until a worthy financial person outbids the rest (Berger,
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