What is Economic System? An economic system can be referred to as a system that encompasses the methods of production, distribution and exchange of goods and services (excluding their consumption).…
What is Business Ethics? Ethics are a set of principles that help in differentiating between what is morally right and what is morally wrong. Business ethics and values are the…
What is Service Sector? The service sector is the producer of services (intangible goods) instead of goods. It includes various types of services are as follows: Information technology servicesTransportation servicesFinancial…
What is the need of workers participation in management? In this article, we will be going through the basic concept of worker participation and industrial relations and disputes that is…
What is a Socio-cultural Environment? The socio-cultural environment is referred to as the social system as well as the culture of the people. the socio-cultural environment includes social customs, values,…
What is Corporate Governance? Corporate governance is the system by which business corporations are directed and controlled. The Corporate Governance structure specifies the distribution of rights and responsibilities among different…
What is Legal Environment in Business? The legal environment in business is a code of conduct that defines the boundaries of business within a legal jurisdiction. The law has been…
Inflation means a steep increase in prices, resulting in a decrease in the value of money over a period of time...
Environmental Scanning can define a process of monitoring the relevant environments to identify the opportunities that could benefit an organisation's business or industry and the threats that should be avoided known as environmental scanning.
