Tag: business

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...
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 Partnership
Business

Advantages and Disadvantages of Partnership

There are various forms of ownerships that people go for while establishing a business. These forms put control in different people’s hands, and in different proportions. There are many forms of ownership. These include sole proprietorship, private corporation, and limited liability company (LLC). Another form of ownership is a partnership. Like all other forms, it has its own advantages and disadvantages. As the name suggests, a sole proprietorship puts controls in the hands of one single owner. It is a type of enterprise one person owns and manages and in which there is no legal distinction between the owner and the business entity. It is also generally called as a sole trader or individual entrepreneurship. Also known as a closely held corporation, unquoted company, or unlisted compa...
Advantages of Social Media for Business
Finance and Business

Advantages of Social Media for Business

The internet is an ever-present entity in each and every one of our lives. It has helped bridge the gap between people and connected them to each other. Social media is one of the tools of the internet that connects people to each other. And social media for business is a concept that has gained popularity with a shift from traditional advertising strategies. Social media is the collective use of websites and computer applications that allow people to communicate and share information on the internet. This is done via different electronic devices like computers, smartphones, tablets, laptops, etc. It is a wonderful platform for applying marketing strategies for a business. Hence, this social media marketing (SMM) is becoming very popular these days. In other words, it is nothing but the...