Wednesday, September 23

Tag: business

Advantages and Disadvantages of Freelancing
Business

Advantages and Disadvantages of Freelancing

Freelancing for work projects has become very popular over the years among individuals. Here is a quick look at freelancers as well as the advantages and disadvantages of freelancing. WHO IS A FREELANCER? A freelancer is an individual who is self-employed and who earns money on a job-to-job basis. What this means is that freelancers usually take up short-term work projects and don't really have a permanent workplace or firm. Some take up freelancing projects as side projects to supplement their full-time work commitments while some do this full-time. Sectors like entertainment, design, art, copywriting, film, etc. are popular sectors for freelancers. THE CONCEPT OF FREELANCING Let's first start with understanding what the gig economy is. The gig economy is where companies hire independ...
Advantages and Disadvantages of a Corporation
Business

Advantages and Disadvantages of a Corporation

When you decide to start your own business, it can be pretty daunting to zero in on what it should look and function like. This article will specifically deal with what a corporation is as well as its pros and cons. So let us have a look. WHAT IS IT? In dictionary terms, a corporation is an association or a body formed and authorized by law to act as a single person although constituted by one or more persons and legally endowed with various rights and duties including the capacity of succession. In simple terms, it is a type of business organization that is separate and distinct from its owners. And it differs from other types of business organizations like, for instance, a partnership or a sole proprietorship in its characteristics. Depending on these characteristics, corporations c...
Advantages and Disadvantages of Being an Entrepreneur
Business

Advantages and Disadvantages of Being an Entrepreneur

Running your own company or business seems like an exciting career opportunity for many. Though it seems like a highly exciting prospect, it is equally challenging. Have you ever wondered about what it would be like to become a successful entrepreneur? This article delves into the benefits as well as the challenges of being an entrepreneur and everything that it encompasses. THE CONCEPT OF ENTREPRENEURSHIP Entrepreneurship is the ability or skill in starting new businesses, especially new opportunities. The important factor that sets entrepreneurship in motion is the ability to create not only something new but something of value as well. Now what is valuable is subjective and open to interpretation. Because most times, the value addition may not be entirely in terms of capital or profit...
Advantages and Disadvantages of Privatisation
Finance and Business

Advantages and Disadvantages of Privatisation

There has been a growing demand for privatisation as well as public-private partnerships in many local and state governments. With uncertain times ahead, it is important to understand how it affects us and our economy. Here is a look at what privatisation is as well as its benefits and drawbacks. WHAT IS PRIVATISATION? The concept of privatisation does not just have one fixed meaning. It can mean different things on the basis of its context. This includes privatisation of a public sector enterprise to the private sector, outsourcing government services to private entities, or even a strictly regulated private firm becoming less organised. So it is an umbrella term giving private players a greater role in decisions about what, where, and how to produce goods and services. However, for bre...
Advantages and Disadvantages of Sales Promotion
Finance and Business

Advantages and Disadvantages of Sales Promotion

We are all guilty of excessive shopping indulgences sometimes. And who can blame us when that sweater came with such a good deal? Sure, it's the dead of summer right now but it's a smart purchase for the coming months, we assure ourselves. It is certainly hard for people to pass up a good "bargain". And this is exactly what companies thrive on by doing sales promotion. So let us explore the workings of sales promotion and if it is beneficial as a concept or not. WHAT IS IT EXACTLY? The Cambridge Dictionary defines a sales promotion as an activity or series of activities done to increase sales of a particular product. For example by reducing its price or advertising it.  Let's simplify this. Sales promotion essentially is a marketing technique. And the goal is to make the consumer act ...
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 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...