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
Business and Strategy
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
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
Social Entrepreneur: Definition, Importance, Characteristics
Who's it: Social entrepreneurs are those who pursue business not to maximize their own profits but to maximize social and environmental benefits. They aim to promote the welfare of society by balancing profit, society, and the
Where Do Entrepreneurs’ Business Ideas Come From?
Entrepreneurs' business ideas can come from their daily lives. For example, they commercialize their hobby. Or, they observe the problems people face and then offer products to provide them with solutions. Basically, business
What are the Factors Causing Deindustrialization
Factors causing deindustrialization occurred due to higher manufacturing productivity, pushing prices and job absorption to continue to fall. The change in the economic structure from a manufacturing-based to a service-based basis has
What Are The Impacts of Deindustrialization?
Deindustrialization brings both positive and negative impacts. First, it could reflect an increase in living standards, so consumers spend more dollars on services. Then, the reduced reduction in environmental degradation is an example of
Solutions To Avoid Business Failure
Solutions to avoid business failure can vary widely. There are countless businesses around us with different backgrounds, including different target markets and resources. For this reason, the types of risks and solutions to deal with them
Business Process: Definition, Importance, and Management
What's it: A business process refers to a series of interrelated actions, activities, or work to achieve a business goal. They shape the business operation and, therefore, must be done. Companies usually group internal processes into
Manufacturing Process: Definition, Examples, and Types
What’s it: The manufacturing process is the work steps and actions involved in converting inputs into outputs. Inputs can be raw materials, semi-finished goods, or components. Meanwhile, the output can be finished or semi-finished
How to deliver customer value? The types
There are several ways to deliver customer value. For example, it can be by quality, design, or other product attributes. Or, it could be through branding, superior after-sales service, and pricing. Each customer will have different
Customer Value: Definition, Importance, Examples
What's it: Customer value refers to how worth a product is to a customer. It represents the difference between the perceived benefits and the costs incurred to obtain the benefits of a product. Perceived value depends on customer
Added Value: Definition, Why It Matters, Formula
What's it: Added value is an improvement or addition to something to make it more valuable. Businesses do this by processing inputs into outputs and increasing their value. It creates value when consumers are willing to pay
Value-Added Product: Definition and Brief Explanation
What's it: A value-added product is any product we can sell at a price higher than it cost to produce it. It can have a broad meaning, like what a manufacturer does. They process raw materials into finished goods for final consumption
What is the Difference Between Private Sector and Public Sector
Ownership and motives in providing goods and services are the main differences between the private sectors and public sector. Yet, both play a vital role under mixed economies, the economic systems most countries adopt today. What is a
Wants: Definition and Examples
What's it: Wants are hopes to have or fulfill something. If we want something, we expect to be able to buy it and have it. It's a felt need shaped by our knowledge, culture, personality, marketing, and preferences. Unlike needs,