Ethical Issues in Business | in Setting a New Business

Ethical Issues in Business

When starting a business, there are numerous ethical and legal issues that must be considered by a business owner. Taking legal and ethical issues into account in the beginning of the businesses doesn’t only ensure quick progress but it also provides business with long-term benefits. Ethical Issues in Setting a New Business But in this

Exit Strategy: Meaning, Importance, Key Steps to Formulating

What is Exit Strategy? Exit strategies related to startup funding are quite often misunderstood. The “exit” in exit strategy is for the money, not the startup founders or small business owners. The company brings in money and the investors get money out. So, startups looking for angel investors or venture capital (VC) absolutely need an

Key to Success | Need for Business Planning

Need for Developing Business Plan A business plan enables to demonstrate to stakeholders, including founders and investors, that there is potential for considerable growth in a large market. It should illustrate that your company is capable of achieving significant market power with a sustainable and differentiated product or service offering. The business plan also demonstrates

Cultural Environment in Business and Factors

What is Cultural Environment in Business? General perception about entrepreneurship development is that it is based on cultural and ethical values. People generally believe that success or failure of an individual or an enterprise is totally governed by the mercy and pleasure of some special God. It is also believed that status is inherited, it

Social Environment of Business and Factors

What is Social Environment of Business? Social environment prepares background for entrepreneurial activities. Today business is regarded as a social institution. It forms an integral part of the social organization having responsibilities to a wider circle of individuals like entrepreneurs, workers and consumers, etc. who participate in the business activities. Social structure, social values and

Technological Environment of Business and Factors

What is Technological Environment of Business? Technological forces constitute the technological environment. These forces include the expertise, procedures and systems used by enterprises to make profound changes in the transformation process and in goods and services. “Fuelled by scientific research and industrial breakthrough technological forces define new industries and provide enterprises with tools and opportunities

Economic Environment in Business and Factors

What is Economic Environment? Economic environment refers to all those economic factors which have a bearing on the functioning of a business unit. Business depends on the economic environment for all the needed inputs. It also depends on the economic environment to sell the finished goods. Naturally, the dependence of business on the economic environment