Entrepreneurs play a crucial role in satisfying people's needs and wants. In a broad sense, they contribute substantially to society and the economy by creating jobs and incomes, increasing production, and promoting
Business and Strategy
Business Idea: Original Idea or Adaptation?
Business ideas can come from original ideas or adaptations. Both have different risks. While an original idea may not be tested in the market, adaptation involves less risk because it relies on existing products or services to be further
What are examples of business objectives?
The business objectives are maximizing profits, growth, survival, and market share. Which one to choose can vary between businesses. For example, some companies may pursue maximum profit by optimizing sales at a minimum cost. On the other hand,
Human Resource Objectives: Examples and Why It Matters
What's it: Human resource objectives refer to the purposes the company wants to achieve through its human resources department. They outline what the human resources department should focus on. In addition to aligning with the objectives in
Financial Objective: Examples and Detailed Explanations
What's it: A financial objective is a target or something we want to achieve through the finance department. They guide the finance department and its team to make decisions and focus on relevant activities to achieve objectives. Financial
Corporate Objective: Definition, Importance, Types, Examples
What's it: A corporate objective is a specific, measurable, and time-specific target by which you can achieve your overall corporate goal. In other words, it is a target that your company must achieve to realize your business goal. A good
Four Business Organizations in the Private Sector You Need to Know
The four business organizations in the private sector are sole proprietorships, partnerships, private limited companies, and public limited companies. They also have different advantages and disadvantages. Businesses in the private sector operate
Difference Between Intrapreneurs and Entrepreneurs. What are they?
The fundamental difference between intrapreneurs and entrepreneurs is who they are accountable to. Entrepreneurs work for themselves and are free because they are not bound by any rules of any company. They also generate profits for themselves – or,
Intrapreneur: Meaning, Characteristics, Differences with Entrepreneur
Who's it: An intrapreneur, or internal entrepreneur, is an entrepreneur who works within an organization. They are company employees but think and act like entrepreneurs. They are independent, proactive, creative, and generate new ideas