Business

Business is an activity of individual to sell the product and the service for making money. Businesses must satisfy a societal need. The main objective of the business is the profit. A businessman need to believe in his strengths and skill for the growth of any business. Every business has two parties one is buyer and other is seller. Business is just a contract or an agreement between buyer and seller.

 

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Advantages and Disadvantages of Training and Development
Business, Education and Communications

Advantages and Disadvantages of Training and Development

Our concept of how an organization should function has evolved over time. We no longer subscribe to the surface level understanding of how a company thrives. Now, there is a heightened emphasis on caring about your employees, organizational efficiency, career development, maximization of resources, etc within a company model. Hence, training and development as a tool has been diligently incorporated by high-functioning organizations. So here is a look at the concept of training and development. WHAT IS TRAINING AND DEVELOPMENT? Training and development is an all-encompassing term used to describe the methods used by organizations to improve themselves. The term training means learning a very specific skill or a particular program. While on the other hand, development involves a longer vi...
Advantages and Disadvantages of Business Ethics
Business

Advantages and Disadvantages of Business Ethics

Ethics as a concept has driven the functionality of our society for centuries. So, it is no surprise that business ethics has been a topic of interest for many companies lately. Here is a look at the importance as well as some drawbacks of ethics in business. WHAT IS BUSINESS ETHICS? Business ethics or corporate ethics is a form of professional ethics that studies appropriate business policies and practices. This topic is relevant and important to everyone because each one of us is involved in some type of business transaction or activity. It shapes the way the world functions. Business ethics examines controversial subjects like bribery, insider trading, corporate social responsibility (CSR), white-collar crimes, discrimination, etc. It studies the ethical questions and dimensions of...
Advantages and Disadvantages of International Trade
Business

Advantages and Disadvantages of International Trade

With the advent of globalization and technology, shipping of goods, and selling a service anywhere in the world has become very easy. This has increased competition in the international marketplace. Consequently, international trade has gained momentum with companies looking for more profits. So, let us see if it is as successful a venture as it claims. WHAT IS INTERNATIONAL TRADE? International trade means the exchange of goods, services, or capital between two or more countries. There is an export and import of goods and services. Export in international trade means selling of goods or services produced in one country to another country. An import in international trade means buying goods or services by one country that was produced by another country. In several countries, internation...
Advantages and Disadvantages of Medicare Advantage Plans
Business

Advantages and Disadvantages of Medicare Advantage Plans

With the rising costs of healthcare all around the world, it becomes increasingly difficult to get medical insurance. But, with more and more people getting health insurance, there are more varieties to choose from. Most of the time, these differences are so nuanced that common people who do not have a knowledge of insurance policies cannot understand them. Thus, it is important to do as much research as possible on your own before going to an insurance specialist. A new kind of healthcare policy that has is available in the US are the Medicare advantage plans. As is to be expected, they have their own advantages and disadvantages. Let’s find out more about these plans. WHAT ARE MEDICARE ADVANTAGE PLANS? These are health insurance plans provided by a private health insurer. They are a...
Advantages and Disadvantages of International Business
Business

Advantages and Disadvantages of International Business

Globalization has integrated national economies into a global market economy. One can even call them as a global village. As the markets expand, businesses have naturally bloomed. International business is an important part of a country's economy. But is it a sustainable model of business? So here we look at the advantages and disadvantages of international business. WHAT DOES INTERNATIONAL BUSINESS MEAN? International business is commercial activities in relation to trade of goods, services, technology, ideas, infrastructure, and resources across national borders. This occurs on a global scale between two or more countries and creates the phenomenon of globalization. These activities or cross-border transactions may include capital, skill, and people for various purposes. There are seve...
Advantages and Disadvantages of Sole Proprietorship
Business

Advantages and Disadvantages of Sole Proprietorship

When an individual decides to start a business, they have hundreds of decisions to make. They have to decide the scale of their business, the location, and many more. One very important decision that they have to take is with regards to the ownership of their firm. There are various options to choose from. One of them is sole proprietorship. Like all other options for all questions in the world, it has its own advantages and disadvantages. WHAT IS SOLE PROPRIETORSHIP? Sole proprietorship is the oldest and most common form of business ownership. Its name is pretty self-explanatory. sole+proprietorship. “Self” implies one’s own and “proprietorship” implies ownership. A sole proprietorship is a business entity that is fully owned by one person. This individual owner is known as a “sole prop...
Advantages and Disadvantages of E-Commerce
Business, Technology

Advantages and Disadvantages of E-Commerce

We live in the age of globalization driven by digital connectedness and unlimited flow of data. One could even say that we are hyper-connected. There are no physical barriers left when it comes to connectivity anymore. And this even translates to our consumerism. As a concept, e-commerce has emerged as a symbol of this very globalization and a key to success in this digital age. So, let us look closely at the advantages and disadvantages of e-commerce. WHAT DOES E-COMMERCE MEAN? E-Commerce or electronic commerce means the process of buying or selling of goods or services electronically on the internet. It involves the transaction of goods and services, transfer of capital, and exchange of data. This is supported by a comprehensive usage of information and communication technology (ICT) a...
Advantages and Disadvantages of Organizing a Firm as a Corporation
Business

Advantages and Disadvantages of Organizing a Firm as a Corporation

In the ever-evolving world of ours, the business model has always been about increasing profits and shifting innovations. There's severe competition in the business world and every company or firm strives to be the best among the best. Firms or companies can take different forms according to their jurisdictions. One such form is a corporation. Let us look at the advantages and disadvantages of organizing a firm as a corporation. WHAT IS A FIRM? A firm is an enterprise that buys or sells products or services to its consumers intending to make a profit. It is also called a company or business colloquially. The term firm describes the association of several persons who are interested in business. And it does not qualify as a legal entity. In other words, it is only a term used to describe p...