Business is an organization that sells products or services for profit. It is also a profession that requires specialized skills and knowledge. A business entity can be for or non-profit. The legal structure of a business depends on its objectives and financial status. There are three main forms of business: sole proprietorships, corporations, and partnerships. Each has its own distinct characteristics and values. For example, a manufacturing business manufactures products such as cars, but sells them to the consumer directly. On the other hand, a merchandising business purchases products from wholesalers and sells them at retail prices. There are many…
Author: Viki
Digital Marketing is the process of promoting or advertising a product or service using digital channels. It can be online video, social media posts, advertisements, or search engine marketing. Unlike traditional marketing, digital marketing is relatively inexpensive. With an effective marketing strategy, your brand can stand out from the crowd. However, before jumping in, there are some important aspects to consider. First and foremost, your marketing efforts should revolve around the target audience. The more you know about who you are targeting, the easier it will be to determine the best strategies and tactics for your business. As part of…
The economy is a complex system of interrelated production activities. It also encompasses distribution and consumption. This system can include both national and local economies. The market is an area of free trade in goods and services. It is governed by laws and regulations. These can be applied by governments, companies, and individuals. The economy can be big or small. It can represent a nation, a state, a region, a city, or even a single industry. Economic activity is driven by capital, labor, and natural resources. Some modern consumer societies also include a growing role of technology and finance. The…
Event Management is an incredibly complex undertaking. It involves a plethora of moving parts and requires extensive planning. Getting everything done on time can be a challenge, especially if you are not experienced. Luckily, there are a few tricks of the trade that will help you get your event on the road to success. Among them is a well-organized timeline. The timeline is a good way to keep all your clients in the know. Using the right software, you can track attendance and even collect attendance data. Also, if your venue has Wi-Fi, you can use it to communicate with…
Finance is the study of money and currency, and the tools and systems used to manage it. It includes investing, savings, borrowing, and lending. Finance focuses on using and managing the money of individuals, businesses, and governments. It is a discipline that is closely tied to economics, statistics, and mathematics. There are three main areas of financial activity: personal finance, business finance, and public finance. Each of these areas has a wide range of specialization opportunities. In modern life, the major risks of finance can include credit risks, market risks, and operational risks. These can cause damage to an organization’s…
Industry is a term that describes the process of making products in factories. It is also used to describe the rendering of services in an economy. Industries are grouped into sectors. These sectors are economic sub-categories. Large-scale industries generate a huge volume of output. Usually, they have a specialized labour force. Some examples of large-scale industries include motor vehicle and heavy machinery manufacture, steel manufacturing, oil refining, etc. A large-scale industry requires heavy capital investment. Companies in this sector may be private, government or state-owned. The labour force may be low skilled or highly trained. Secondary industries process raw materials…
Law is a set of rules that are enforced by governmental institutions and social organizations. It serves to regulate the relationships between individuals and society, and can also serve to protect individual rights. Law is a legal term that is used to describe the entire body of laws of a nation. These laws are publicized, and apply evenly. If an act violates a law, the person will face fines or jail time. Law can be divided into three categories: civil, criminal, and administrative. A civil legal system consists of judicial decisions and statutes, while a criminal legal system deals with…
Market analysis can be an important part of your business plan, whether you are an established company looking to make the leap into a new market or an aspiring entrepreneur. The right analysis will give you the high level perspective you need to determine if you’re on the right track. The main idea behind market analysis is to evaluate your industry in order to better understand how to position your product to best compete in the market. Ultimately, this will help you promote your products to a wider audience. A comprehensive market analysis can be conducted independently or as part…
Markets are places where buyers and sellers can come together to buy and sell goods and services. These markets can be physical, virtual, or electronic. The number of buyers and sellers in a market determines the size of the market. Markets differ by duration, location, the type of products sold, and government regulation. A well-functioning market allocates capital efficiently, keeping costs low and maximizing economic growth. Markets are also complex organizations. They include financial, commodity, and wholesale markets, as well as auction sites and online stores. Financial markets have institutional structures, such as exchanges and clearing facilities, which determine price…
An Online Business is one of the most flexible ways to make money. It allows entrepreneurs to sell their products or services to an audience worldwide. However, before you can start your own online business, there are a few things you need to know. A business is defined as an activity that involves the exchange of goods, services, or information. Commerce is a vital activity to any business Apsession. Before the internet came into existence, people who wanted to purchase something had to visit the seller’s premises. They also had to mail a check. Luckily, the internet made the process…