The Chief Executive Officer or CEO has a unique set of roles to play and responsibilities to fulfil in the organization, that can't be delegated to the subordinate staff. It is the CEO of the company who identify the resource requirements, researches sources to raise funds, formulate strategies to approach the lenders, presents proposals and submits them. He/She administers the entire operations and effectively manages human resources. On the other hand, Chief Operating Officer or COO is the … [Read more...]

Globalization is that process which accelerates the flow and exchange of products and services, capital, technology, information, jobs etc. across the globe. It does not just encourage but also improves the interaction amidst different countries and audiences around the world. It has transformed the world economy into a more open and autonomous system. Globalization is commonly contrasted with internationalization, but the two differs in their meaning, in the sense that internationalization … [Read more...]

Hire Purchase, as the name suggests, is the system of trade in which one party pays for the cost of the asset in a number of instalments while making use of that asset. In this system, the ownership of the asset is transferred by the hire vendor only on the full-fledged payment of the remaining balance. On the other hand, the sale represents the actual sale of goods, in which the ownership and possession both are transferred to the customer, instantly by the seller. Nowadays, people want … [Read more...]

An organization is a group of people, coming from different walks of life, having different values, culture and perception. So, while pursuing the organizational objective, differences in opinion often take place, leading to inconvenience and conflict. If this continues for the long term, it results in "Complaints". Further, when these complaints are not attended and resolved properly and timely, it can cause dissatisfaction. The main reason behind dissatisfaction are expectations, which are … [Read more...]

The franchise is primarily used by the businesses when they want to expand their market share and the overall reach but at a low cost. It refers to a joint arrangement amidst two parties, i.e. franchisor - the company who grants franchise, and franchisee - the person who purchases the right of marketing and selling the franchisor's products and services. A franchise establishment is a form of chain business. Chain store refers to a retail enterprise with multiple branches at different … [Read more...]

Free Trade, as the name describes, is the unrestrained flow of products, services, labour and capital, across the country's geographical boundaries, without any government intervention in the name of economic or regulatory barriers. The term 'free trade' is often contrasted with 'fair trade'. In the simplest sense, the word 'fair trade' means the kind of buying and selling of goods and services in which fair, i.e. just and equitable, payment is made to the producers. It is an … [Read more...]

The word 'Partner' is a common term which is used to indicate any person who invests his/her capital to partnership business and agrees to share profits and losses, risks and rewards. On the other hand, designated partner, as the name suggests, is the one, whom the other partners appoint, to be responsible for complying with the terms of LLP Act. What is a General Partnership? General Partnership is a form of business organization in which two or more than two persons, unite to start a lawful … [Read more...]