Profit maximization is simply the process of fixing the prices and deciding the total output levels in such a way that maximum profits could be generated. The concept of profit maximization can be touched from ...
Read MoreA business can simply be defined as an organization that is engaged or involved in the trade of services or/and goods. One of the most important attribute of any business is “Profit”. Profit is the ...
Read MoreFirst year allowance is a concept from the books of British Business Legislation. In United Kingdom, first year allowance is actually a tax benefit that allows British organizations to claim for the eligible machinery purchases. ...
Read MoreSocial environment of business simply covers all the social factors that put impact on the business. Businesses always operate in society, so various factors of society like literacy (Educational institutes), awareness, family, religion etc put ...
Read MoreTo explain the dissolution of partnership, let us take a simple citation. Suppose, Jack and Mack were two best friends. They started a business in partnership about 15 years ago. They were earning smart profits ...
Read MoreEthics is a term that never found a rigid definition in business environment. In general ethics are simply the guidelines that differentiate between the right and the wrong. But, on broader terms there is nothing ...
Read MoreMany people confuse communication as a technique to transmitting and receiving of messages. It is actually a mutual exercise of understanding between transmitter and receiver. Communication plays a very crucial role in business. In business ...
Read MoreLaw is the guiding authority of society since from ages. Law defines set of regulations to be enforced upon the body of interest so that injustice could be avoided in any aspect of society. Just like ...
Read MoreA business can never be profitable if it is ignoring the dynamic internal and external environment. By examining the internal and external environment, an organization develops its long term objectives and then it chooses a ...
Read MoreMBO (Management by objective) One can take it as an appraisal technique, performance boaster or a motivational effort, in any way MBO finds an importance in modern business work practice. It was early 1900s when researchers ...
Read MoreFast Moving Consumer Goods (FMCG) are the products which are used or sold quickly. They include products such as soaps, toothpastes, cold drinks, batteries, paper products etc. FMCG don’t give the manufactures a big profit per ...
Read MoreGlobal strategic planning is a process adopted by multi national organizations in order to formulate an effective global strategy. GSP is a process of evaluating the internal and external environment by multinational organizations, through which ...
Read MoreThe capital involved in any business enterprise can broadly be classified into two categories—working capital and fixed capital. Actually, every business needs funds for two purposes—for its establishment and to carry out its day- to- ...
Read MoreIntroduction:- In the past, businesses did not have to pay much attention towards customer satisfaction because there were few suppliers and the market was growing fast. Sometimes customers had to deal with the companies directly when ...
Read MoreInternational business is a broad term, collectively used to describe all commercial transactions (private, government and semi-government) that take place between two or more nations. International business is a newly coined term, but the concept ...
Read MoreThe companies may be classified as follows:- I. On the Basis of Incorporation:- 1. Chartered Companies:- Chartered companies are those companies which are formed under a special charter approved by the Royal Head of the State are called ...
Read MoreThe limitations of sole proprietorship form of organistation led to the formation of another form of organization known as partnership. Definition:- In India, partnership organization is formed and managed by Indian Partnership Act, 1932. Section 4 of ...
Read MoreMeaning:- When the relation between all the partners of the firm comes to an end, this is called dissolution of the firm. Dissolution of partnership is different from the dissolution of firm. When any of the ...
Read MoreMeaning:- Minimum of 2 persons are required to form a partnership and maximum of 10 persons in case of banking and 20 in case of others. These persons are individually known as ‘Partners’ and collectively ...
Read MoreAccording to Indian Partnership Act 1932, registration of partnership is not compulsory as in the case of company. However, registration becomes compulsory as unregistered partnership firm attracts certain limitations. Registration of partnership firm can be ...
Read MoreSole proprietorship is the simplest, oldest and the most natural form of organization. Despite of so many changes in this form of an organization, the popularity of sole proprietorship has never come down. Definition:- The organization ...
Read MoreMeaning: - The term Business Environment is composed of two words ‘Business’ and ‘Environment’. In simple terms, the state in which a person remains busy is known as Business. The word Business in its economic ...
Read MoreA key to understanding the North American Free Trade Agreement (NAFTA) is knowing what a free-trade agreement is and what the designers of those agreements want to achieve. A free-trade agreement sets up conditions for ...
Read MoreDelegation, as a verb, is the act of giving someone else the responsibility, even the power, to do something, whether it is a work task or a non-work task. This is usually applied to situations ...
Read MoreIn the business “dictionary” the term corporate social responsibility means that the managers of a company try to make sure that the daily operations of the firm are in line with the social, economic and ...
Read MoreCrisis is defined as a condition that is inherently unstable or dangerous. The term may be applied in almost any sector of society, including economics and politics. In medical terms, a crisis occurs when there ...
Read MoreThe first question might well be: What is considered an asset, for the purposes of determining how to manage that asset? Essentially, asset management is a strictly defined process that deals with hard goods, inventory, personnel ...
Read MoreBasic and rather easy to follow, SWOT analysis is a marketing concept that some consider under-appreciated in the world of business. Such experts as Anthony C. Danca note that the letters in the title stand ...
Read MoreWith most business terms, it is good to take a quick look at the words or basic terms used. In some cases, corporations and business consultants construct titles for processes that seem to mask true ...
Read MoreAn entrepreneur is one who takes risk to start a business or other venture, or to buy and assume the management of a company. The word “entrepreneur” comes from the French word that meant to ...
Read More