12 Factors Affecting Industrial Location | Explained

As the world continues to adapt to evolving work dynamics, remote work has emerged as a prominent feature of modern business operations. Whether spurred by necessity or driven by the pursuit of flexibility and efficiency, remote work has transformed from a trend into a fundamental aspect of how we work. However, navigating the complexities of … Read more

5 Important Entrepreneurial Skills For any Entrepreneur

Table of Contents1 Entrepreneurial Skills1.1 Basic Money-Management Skills1.2 A Marketing Mindset1.3 Self-Management Skills1.4 Time-Management Skills1.5 Basic Office Organization Entrepreneurial Skills Entrepreneurial skills are essential for individuals looking to start, manage, or grow a successful business. These skills encompass a wide range of abilities and traits that enable entrepreneurs to identify opportunities, navigate challenges, and effectively … Read more

6 Reasons Why Small Businesses Fail?

Table of Contents1 6 Reasons Small Businesses Fail1.1 Lack of Management Systems1.2 Lack of Vision and Purpose by Principles1.3 Lack of Financial Planning and Review1.4 Poor Market Segmentation or Strategy1.5 Competition or Lack of Market Knowledge1.6 Inadequate Capitalization/Under-Funded2 FAQs Section 6 Reasons Small Businesses Fail Small businesses fail for various reasons, and it’s often a … Read more

Why Businesses Fail? | 11 Reasons for Business Failures

Table of Contents1 Why Businesses Fail?1.1 Inadequate Front-End Planning1.2 Insufficient Capital for Startup and Back-up1.3 Inexperienced Management1.4 The Wrong Location1.5 Inventory Mismanagement1.6 Too much Capital in Fixed Assets1.7 Poor Credit Practices1.8 Unplanned Expansion1.9 Having Wrong Attitude1.10 Inadequate Records and Financial Knowledge1.11 Lack of Managerial Foresight2 FAQs Section Why Businesses Fail? The U.S. Small Business Administration … Read more

6 Strategic Management in Business Enterprises

For any entrepreneur, strategic management is a state of preparedness to meet challenges emerging from unforeseen circumstances of the business. Therefore, the business plan that an entrepreneur prepares should be of a short duration that is of less than two years so as to accommodate changes in the near future and to avoid the risk … Read more

Reasons for Entrepreneur Failure and Steps to Overcome

The failure of new enterprise and visible problems for business may be traced to the following errors/oversights: Table of Contents1 Reasons for Entrepreneur Failure1.1 Lack of Managerial Experience1.2 Poor Accounting System1.3 Inadequate Estimate of Cash Requirements1.4 Lack of Knowledge about Tax Related Matters2 Steps to Overcome Entrepreneur Failure2.1 Launching a Successful Venture2.2 Prudent Financial Strategy2.3 … Read more

Cooperative Society: 8 Features, Advantages and Disadvantages

Table of Contents1 What is a Cooperative Society?2 Features of Cooperative Society2.1 Voluntary Association2.2 Equal Voting Rights2.3 Democratic Management2.4 Service Motive2.5 Limited Return of Capital2.6 Separate Legal Entity2.7 Equitable Distribution of Surplus2.8 State Control3 Advantages of Cooperative Society3.1 Easy to Form3.2 Democratic Management3.3 Limited Liability3.4 Perpetual Succession3.5 Economic Operation3.6 State Patronage3.7 Social Benefits3.8 Scope for … Read more

Advantages and Disadvantages of Company | Explained

Table of Contents1 What is a Company?2 Features of Company2.1 Separate Legal Entity2.2 Artificial Legal Person2.3 Perpetual Succession2.4 Limited Liability2.5 Common Seal2.6 Transferability of Shares2.7 Separation of Ownership and Management2.8 Incorporated Association of Persons3 Advantages of Company3.1 Limited Liability3.2 Large Financial Resources3.3 Continuity3.4 Transferability of Shares3.5 Professional Management3.6 Scope for Growth and Expansion3.7 Public Confidence3.8 … Read more

10 Advantages and Disadvantages of Partnership | Explained

Table of Contents1 Advantages of Partnership1.1 Easy Formation1.2 Larger Financial Resources1.3 Flexibility1.4 Combined Abilities and Balanced Judgment1.5 Direct Motivation1.6 Division of Risks1.7 Business Secrecy1.8 Protection of Minority Interest1.9 Encouragement of Mutual Trust and Interdependence1.10 Easy Dissolution2 Disadvantages of Partnership2.1 Unlimited Liability2.2 Limited Resources2.3 Instability2.4 Non-Transferability of Interest2.5 Lack of Public Confidence2.6 Risk of Implied Authority2.7 … Read more

8 Essential Features of Partnership | You Should Know

Table of Contents1 Meaning of Partnership2 Features of Partnership2.1 More Persons2.2 Profit and Loss Sharing2.3 Contractual Relationship2.4 Existence of Lawful Business2.5 Utmost Good Faith and Honesty2.6 Unlimited Liability2.7 Restrictions on Transfer of Share2.8 Principal-Agent Relationship3 FAQs Section Meaning of Partnership The need for a partnership firm form of organization arose from the limitations of a … Read more