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 Life Insurance
Health

Advantages and Disadvantages of Life Insurance

There are some things in life that humans have control over. They cannot stop certain events from happening. But, they can take some precautions to make sure these events don’t happen. Even then, if these events start to happen, there is nothing that can be done to stop them. In situations like these, the most obvious choice would be to minimize the damage. These events can also lead to huge financial losses, which is where insurance comes in. One type of insurance is life insurance. So here are its own advantages and disadvantages. WHAT IS INSURANCE? It can be termed as a form of risk management. Insurance is a contract that works as a means of protection from financial loss. It is represented by a policy, in which an individual or entity receives financial protection or reimbursement a...
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 Cloud Computing
Technology

Advantages and Disadvantages of Cloud Computing

Technology has made several tasks easy for humans. It has allowed us to communicate more easily, travel more easily, learn more easily, and so on. Another task it has made easy for us is storage. It gave us cabinets and containers. Later on, it gave us electronic devices that could store data while taking up a negligible amount of space. Now, it has allowed us to store data while taking absolutely no space. The invention that has made this possible is cloud computing. It serves other purposes also. Even though it might sound magical, it has its own advantages as well as disadvantages. WHAT IS IT? As the name suggests, cloud computing refers to computing that does not take up any space. This means that companies do not own computing infrastructure or data centres. Instead, they rent these...
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 Technical Support
Technology

Advantages and Disadvantages of Technical Support

Business models are constantly looking at innovations to increase profits. But there are already a few sure shot ways recognized in the business world that helps in promoting these businesses. One of the ways to harness the power of the internet and through communication is via a technical support team. Businesses invest in technical support to bring in newer customers, retain the existing ones, and to assure quality and finesse. Let us look at the importance and challenges of technical support.  WHAT IS TECHNICAL SUPPORT? Technical or tech support means the services provided to users of technological products or services. It is a form of communication that technology (tech) companies use to help their users and customers with specific problems in relation to the said products or service...
Advantages and Disadvantages of a Social Audit
Education and Communications

Advantages and Disadvantages of a Social Audit

To live in a fair society, accountability and transparency are of utmost importance. Currently, there has been a social divide apparent in every sector. This calls for research into the whys and whats of the divide. A good fact-finding of these social issues is through a social audit. So let us look at the importance and the barriers of social auditing. WHAT IS SOCIAL AUDITING? The Food and Agricultural Organisation of the United Nations (FAO) describes social audit as a way of measuring, reporting, understanding, and improving an organization's social and ethical performance. It is a technique to understand, measure, verify, and ultimately report in the social performance of an organization. The assessment done in a social audit shows how well a company or an institution is achieving it...