• Skip to primary navigation
  • Skip to main content
  • Skip to footer

Penpoin

Better knowledge. Sharper Insight.

  • Management
  • Economics
  • Finance

Business

Business and Strategy

Business Process: Definition, Importance, and Management

By Ahmad Nasrudin · Updated on April 16, 2022

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 several

Tags: Business, Business Process

Business and Strategy

Manufacturing Process: Definition, Examples, and Types

By Ahmad Nasrudin · Updated on April 16, 2022

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 goods.

Tags: Business, Manufacturing Process

Marketing

Why is adding value important for a business?

By Ahmad Nasrudin · Updated on April 16, 2022

Adding value is important for businesses because, with it, they can make a profit. Then, when it is better than their competitors and maintains it over time, they can make more profit. Businesses satisfy the needs and wants of consumers

Tags: Business, Value Added

Business and Strategy, Economics

Wants: Definition and Examples

By Ahmad Nasrudin · Updated on April 17, 2022

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, wants are

Tags: Business, Economics, Wants

Business and Strategy, Economics

Needs: Definition, Example, Type

By Ahmad Nasrudin · Updated on April 17, 2022

What's it: Needs means requiring something because it is essential. For example, we need food, water, and shelter to sustain our survival. Without food, for example, we can die. In the introduction to economics, we will find economists

Tags: Business, Economics, Needs and wants

Business and Strategy

How Businesses Build Competitive Strategy

By Ahmad Nasrudin · Updated on April 16, 2022

Building a competitive strategy is about how companies outperform their competitors in generating profits by satisfying the same consumer needs and wants. There are many businesses around us. Some target the same market. They compete

Tags: Business, Competitive Strategy

Business and Strategy

How does a business work?

By Ahmad Nasrudin · Updated on April 16, 2022

The way a business works is basically adding value. They do this by processing inputs into higher-value outputs. Next, assume the business produces goods, and you are the owner. Starting a business At first, you decide what to produce. You then

Tags: Business

Macroeconomics, Marketing

Value Added Formula and How To Calculate It

By Ahmad Nasrudin · Updated on April 16, 2022

Calculating added value is straightforward. The value-added formula requires only simple linear mathematical operations. We only need two data: price and cost. Well, in this article, we discussed the value-added formula at the beginning. Then, we

Tags: Business, Value Added

Business and Strategy

The Role of Business in Society and the Economy

By Ahmad Nasrudin · Updated on April 16, 2022

Business plays a vital role in our lives. First, they create goods and services to satisfy our needs and wants. Then, they also recruit households as labor and provide them with compensation, such as wages, salaries, and benefits. Thus, it

Tags: Business, Role of Business

Business and Strategy

What Are Business Resources Examples

By Ahmad Nasrudin · Updated on April 16, 2022

In producing goods or providing services, businesses need resources. We also call it input. Economists call them factors of production. They consist of four components: LandLaborCapitalEntrepreneurship Land Businesses can use the land to

Tags: Business, Business Resources

  • Go to page 1
  • Go to page 2
  • Go to Next Page »

Footer

SEARCH

POPULAR

  • Government Intervention: Examples, Reasons, and Impacts
  • What are the 5 macroeconomic objectives
  • Advertising Budget: Types, Importance, Affecting Factors
  • Trade Blocs: Meaning, Types, Pros, and Cons
  • Business Size: Definition, Measurement, Classification

TOPIC

Business Business Organization Demand Economic Sector Financial Analysis Financial Ratio Human Resources Macroeconomics Marketing Motivation Organizational Structure Profitability Ratio Starting Business

Copyright © 2022 · About Us  · Privacy Policy and Disclaimer  ·  Terms of Use  ·  Comment Policy  ·  Contact Us