Money, like everything else in the economy, is a commodity that depends on the supply and demand. In the United States the supply of dollars is determined by the number of people (including illegal aliens) who want to convert their local currency into the more widely accepted US dollar. The number of coins currently in …
We often hear the term open economy referred to in international trade discussions. However, what is the open economy? For an exchange rate to be determined between two countries, both countries must have a similar fiscal structure. If one country has a pro-cyclical fiscal policy, characterized by falling deficits over time, while the other has …
Industries in India are major contributing factors of high growth rate in the developing country. In India, there are many important industries like textiles, leather, automobiles, chemicals, petroleum refining & petrochemical, rubber, petroleum, steel, cement, textile, etc. These industries are major players of Indian economy. Small scale industries are also important factors of development in …
Small Industries in India – A Major Source of Job Guarantee For People Read More »
Business is all about the nature and purpose. This is the fundamental concept that underlies all business activities. This concept of business and its objectives clearly indicate what the company is all about. At the same time, it also clearly indicates what the various business activities are all about. Essentially, the purpose of a business …
Management is a broad subject, encompassing a number of related disciplines. Management theory is an attempt to understand the nature, function, and application of management theory. It is necessary to differentiate between management and economics. The purpose of this paper is to provide an explanation of the meaning of management and its significance as a …
An Explanation Of The Many Responsibilities Of Management Read More »
There are 4 major types of business organisations: limited liability company, joint stock company, proprietorship and partnership. To learn more about the similarities and differences between them, click here. Each type has its advantages and disadvantages. Depending upon the needs of your business, you will have to choose the one that is most suitable for …
Types of Business organizations – How They Operate Read More »
Human beings have always taken for granted the effects of Nature, and his importance as a force for betterment. From the earliest days, management as a profession has consciously sought to understand and maximise the effects of Nature on the human factors involved. Throughout history, management has been consciously directed towards the appreciation and protection …
Nature and Significance of Management and Its Impact on Business Read More »
The private sector consists of companies which are privately owned and therefore not a part of the federal government. These tend to include private partnership firms, partnerships, LLCs, and corporations. An easier way of thinking of this sector is by considering non-regulated private organizations, which are not governed by statutory requirement. statutory requirement states that …
Privatization – An argument For Not So Big of a Return Read More »
Management is one of the oldest professions. And while managers tend to view their job as either supervisory or task in perspective, this outlook is simply an illusion. From the most basic level, management is actually a complex discipline that consists of at least five basic functions: organizing, planning, staffing, leading and directing. These processes …
The contemporary global economy is characterized as a service-based economy. This is primarily because of the growing share and importance of the service sector worldwide in most developing and developed countries. Statistics today show that almost every country is witnessing a surge in business activity revolving around services. It is estimated that more than two-thirds …
Business Services – Essential For Thriving in Today’s World Read More »