A business planning cycle is a structured plan of action that focuses on developing workable operating plans for a business. It involves identifying the nature of the business, major stages, and details of each stage. Even small businesses can use this tool, and consultancies can be called upon for help. A business planning cycle is […]
Business logistics involves planning, organizing, and controlling the movement of supply, inventory, and information within a company. It can save time, resources, and costs. Logistics management is crucial for almost every business process and has its roots in the military. Seven principles form the basis of logistics management, and information logistics is important due to […]
A business presentation is a formal introduction of business practices or products, typically done using audio/visual equipment. The two most common types are sales presentations and intra-organizational presentations. Vendors should dress professionally and come prepared with researched information about the organization’s needs. A business presentation is a formal tutorial or introduction of business practices or […]
A commercial lease is when a building or land is rented for business purposes. It is similar to a residential lease but often longer and with more maintenance responsibilities. The lease is created in writing and signed by both parties. Commercial leases are often longer than 10 years and tenants may be responsible for general […]
Business expenses are costs associated with running a business, some of which are tax deductible. Common expenses include rent, salaries, and technology costs. Business owners can research common expenses in their field to help with future planning and development. Business expenses are the costs associated with operating a business. Expenses are either tax deductible or […]
Accreditation is important for business schools to ensure a higher chance of success for students in the business world. There are various types of accreditation, and each agency serves a different student population. Accreditation criteria are teaching-focused, and it leads to greater earning potential for graduates. Considering the amount of time, effort, and money it […]
The Austrian business cycle theory claims that manipulating interest rates can cause economic booms and crashes. The Federal Reserve can lower rates to stimulate the economy, but this artificial credit easing is short-lived and can cause a severe recession. Delaying a recession through monetary policy can make it worse. The Austrian business cycle theory states […]
To start a property management business, it’s important to learn the relevant real estate laws, establish a legal company, acquire a business license, open business bank accounts, hire professional staff, and purchase efficient property management software. Familiarity with laws helps minimize legal risks and operate more effectively. It’s also important to be organized and invest […]
A company’s professional image is related to how it handles its finances and interacts with clients and creditors. Creditors consider factors such as financial records, credit reports, and the experience of business leaders when determining credit risk. Defaulting on a loan negatively affects a company’s trade credit risk and credit activity can remain on its […]
Business consultants provide entrepreneurs with advice and guidance to run their businesses more effectively. They offer one-on-one counseling and group classes, troubleshoot problems, identify potential areas of concern, and help businesses scale and grow. Working with a business consultant can be beneficial for any business, and free assistance is available through community organizations and government […]
Risk management is a set of procedures that minimizes risks and costs for businesses. The corporate risk management department identifies potential sources of problems, analyzes them, and takes necessary measures to prevent losses. Financial risks are the primary concern for corporations, and derivatives are the primary way business risk is transferred. Business risk is especially […]
Business ethics and law intersect in areas such as contracts, misrepresentation, and minimum wage laws. Ethical considerations can also be legally enforceable, but not always. Unethical actions can be both ethically wrong and legally actionable, such as misrepresenting a used car as new. Some employers may try to circumvent minimum wage laws by hiring illegal […]
Economists analyze individual country economies to detect global business cycle changes. Developed and emerging markets are separated by their economic state. GDP is used to determine individual economy expansion and assign a growth rate to the global economy, revealing the type of global business cycle. Economists tend to review activity in individual country economies to […]
A commercial venture is a start-up business that aims to make a profit by fulfilling a need in the market. It is usually backed by investors and requires a formal business plan. The business may go public or remain private. A commercial venture is a start-up business that is formed with the expectation and plan […]
Business research is essential for starting and running a business, including researching target customers, competition, and market demand. Methods vary, including customer research and analyzing public data. Research is also important for investors and analyzing a company’s strengths and weaknesses. Specialized journals and international information are valuable resources. Broadly speaking, business research refers to any […]
Merchant affiliate programs offer benefits to publishers who host advertisements on their website, with merchants paying a commission or percentage for sales made through the affiliate. Some programs are open membership, while others are application or invitation only, with better terms. Affiliates can earn varying amounts of money depending on the terms and number of […]
To gain business management experience, start with a college education and specialize in business administration. Accepting a senior or middle manager role can lead to a more senior position. Formal certification and apprenticeships can also provide valuable experience. Initial business management experience often starts with a solid education. From there, you can gain experience in […]
Business credit reports provide information on a company’s credit and bill payment history, used by potential creditors and investors. The industry is dominated by nine major credit rating agencies, with three based in the US. However, there is controversy over their reliability, as they failed to alert investors to the financial problems of companies such […]
Business assets are tangible or intangible items used in business operations for an extended period, including intellectual property. Short-term consumption items like paper and coffee makers do not qualify. Identifying assets is important for taxes and presenting company value to investors. A business asset is any tangible or intangible asset that is expected to be […]
Business marketing involves promoting products or services to other businesses through niche-oriented strategies, such as advertising in trade publications or direct mail. B2B marketing requires identifying and targeting a particular market, understanding market prices, and developing a brand. The internet and technology play a crucial role in expanding a company’s reach, while traditional methods like […]
