Category: Business

12 Major Types of Business System (With Diagram)

This article throws light upon the twelve major types of business systems. The types are: 1. Physical and Abstract System 2. Conceptual and Empirical System 3. Sub Systems and Super System 4. Permanent and Temporary System 5. Artificial System 6. Open and Closed System 7. Natural and Manmade System and Others. Business System # …...

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Project Organisation: Definition, Merits and Limitations

Read this article to learn about the introductory observation, definition, functioning, conditions, chart, merits and limitations of project organisation. Introductory Observations of Project Organisation: Traditional organisational structures are unsuitable for undertaking big projects of a technical nature, under the present-day volatile and turbulent external environmental conditions. Hence, the need for a project organisational structure. …...

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Business System: Features, Sub-System and Evaluation | Business

Read this article to learn about:- 1. Working of an Open System 2. Features of Business System 3. Sub-Systems of the Business System 4. Problems of Integration Among Sub-Systems 5. Suggestions for Achieving Integration 6. Business System – As a Part of Economic System 7. Evaluation of the System’s Approach. Business System # Working …...

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Networking Organization: Features, Advantages and Limitations

Read this article to learn about the introductory observations, definition, features, advantages and limitations of networking organisation. Introductory Observations of Networking Organization: Desire to maintain dominance in the global market requires a flexible organisational structure – to cope with the dynamic changes and challenges of the global economy. Devising of a networking organisation is …...

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Starting a New Business: Top 10 Things to Consider

Some of the factors you must consider while starting a new business are as follows: Top 10 Things to Consider Starting a New Business # 1. Formation Aspect: From the viewpoint of the formation aspect, that form of business organisation is best; which is easiest to form. As per this consideration, sole proprietorship is …...

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Benefits Enjoyed by Business Firms

Following are the specific benefits that are enjoyed by the business firms all over the world: 1. It is an outlet to earn the profits: Profit is the core on which the super structure of business is built. Profit is the pivot around which all marketing activities rotate. To earn this profit, the business …...

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Competitive Advantage – 5 Factors

For any enterprising firm, the competitive advantage may stem from any of the host of functions it performs. In other words, each of these functions are the sources of generating this much desired and valued competitive advantage and edge over others in the industry. Though it is possible to identify functional areas for competitive …...

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Loyalty Based Business Model – Explained!

Loyalty” means that the customer is sticking to the marketing organisation or the supplier though he may be having other options. It is quite possible that the company may not have the product or may not be able to deliver in time or may have other constraints but still the customer might ignore other …...

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Forecasting Business Demands (With Diagram)

Forecasting and forecasts are vital to every business and business organisation for, all decisions are based on forecasts. Forecasting is the very basis of corporate long-term planning. In all functional areas finance, accounting, marketing, personnel and of their linking sub-areas forecasts provide the very base. For budgeting or planning and control. A key marketing …...

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How to Build-Up Competitive Advantage? (5 Steps)

Building up of competitive advantage is as important as making use of it as a back up to the strategy formulation. At corporate level grand strategies create competitive advantage; the business level strategies can use corporation’s competitive advantage as the rock foundation to forge ahead. Put alternatively, building of competitive advantage is a conscious, …...

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