There are Two Aspects to Business Process Management, each addressing a specific aspect of a business process. Business process management takes a step back from the customer experience to analyze the internal processes of an organization. This is because there is no perfect process and inefficiencies take away from the bottom line. During the analysis […]
When you look at the financial statements of your company, you are likely to see at least two of the Three Accounting Reports. The income statement is probably the most important, since it reveals the results of your business’s operations. The balance sheet, on the other hand, may present a different picture. Regardless, the two […]
If you run a business, you probably wonder: “How does tax affect a specific business?” The answer will vary based on the type of business you run and your location. If you’re a sole proprietor, you probably know all about your business’s tax liabilities, but you may be unaware of all of the deductions you’re […]
What Are the Functions of Management Process? This article will discuss the various roles and functions that each of these processes has in the organization. Ultimately, a management process is the foundation for the accomplishment of an organization’s objectives. It must be a beacon of hope and aspiration to all employees. Therefore, effective communication is […]
The 4 Ps of marketing are product, place, promotion, and price. These marketing principles help companies develop a more visible product, increase market share, and promote it. The first P is place, where and how people buy products and services. Consumers buy products from many places and use different channels to find them. The second […]
Despite the fact that most of us don’t pay taxes, the government still collects money from us to run our country. The income collected from taxation comes from a variety of sources, such as individual income taxes, payroll taxes, sales and use taxes, and social security taxes. Tax revenue varies among countries, and while the […]
Business administration and management are closely related. Both involve overseeing the operations of a commercial enterprise. Business administration is a popular field among students and professionals alike. It involves overseeing business operations, such as hiring and firing employees. In some cases, it may also involve assisting business owners with their marketing and strategic planning. Regardless […]
Unlike the physical sciences, business research uses systematic methods to gather information from the market. It collects data on various topics, such as competitive environment, consumer purchasing patterns, government regulations, technological advancements, and changing patterns in the business world. It also helps to identify areas for cost minimization, customer attraction, and profit increase. Through research, […]
In business, etiquette plays a very important role. Not only does good business etiquette help you make a good first impression, it also shows respect and appreciation. Knowing the etiquette of a different country is important for dealing with business partners in that country. Ignoring business etiquette can damage business relations and cause a bad […]
