Business exists in a large environment and many factors affect the business directly and indirectly. Every organization has its stakeholders, irrespective of its size, nature, structure and purpose. The stakeholders can be any person or entity, who influence and can be influenced by the company's activities. In a business environment, stakeholders are classified into two categories, Internal Stakeholders, and External Stakeholders. Internal stakeholders refer to the individuals and parties, … [Read more...]

e-commerce is nothing but buying and selling of goods around the web. On the contrary, e-business is a little different as it is not limited to, commercial transactions, but it also provides other services. These are the two emerging modes of doing business, which are gaining importance with the passage of time. Gone are the days, when you have to go to the market to buy a single item. Nowadays you just have to place an order online, and that item will come to you within few minutes. Online … [Read more...]

In an organization, the formation of groups is very natural, whether it is created by the management for the purpose of accomplishing the goals of the organization or by the members of the organisations themselves to fulfill their social needs. There are two types of group, namely, formal groups and informal groups. Formal groups are the ones that are created as per official authority, so as to fulfill the desired objective. Unlike, informal groups are formed by the employees as per their likes, … [Read more...]

Brand and Product are two different terms, which are commonly encountered in marketing. These two differ in the sense that a product is created by the company while a brand is built by the people using them i.e. customers. Moreover, the former can be easily duplicated, whereas a the latter is unique, and it cannot be copied. A product passes through a life cycle, but a brand is timeless. Due to the rapid modernization of the society, now every person is concerned about, How they look? What … [Read more...]

Business Activities are grouped into two broad categories, i.e. industry and commerce. Commerce is concerned with facilitating the exchange of goods and services in the economy. It is sub-classified as trade and auxiliaries to trade. Many think that trade and commerce are the same terms and can be used interchangeably. But the fact is both the terms are different from each other and carry different meanings. Trade simply means buying and selling of goods and services in return for money or … [Read more...]

The major elements of the quality management, are quality assurance and quality control. Quality Assurance, assures that the right production process is performed in the right manner. Quality Control, on the other hand, ensures that the product will match the requisite standard. While the former stresses on preventing from defects, the latter concentrates on identifying the defects. At present quality, is king, it is one of the major concern of every customer, it is decided by the customer … [Read more...]

Shareholder is a person, who has invested money in the business by purchasing shares of the concerned enterprise. On the other hand, stakeholder implies the party whose interest is directly or indirectly affected by the company's actions. The scope of stakeholders is wider than that of the shareholder, in the sense that the latter is a part of the former. Stakeholders represents the entire micro-environment of the business. While shareholder own the company's share by paying the price for it, … [Read more...]

Amalgamation, as its name suggests, is nothing but two companies becoming one. On the other hand, Absorption is the process in which the one dominant company takes control over the weaker company. These are two business strategies adopted by the companies to expand itself and take a competitive position in the market. But, here one should know that Amalgamation can occur in two ways i.e. in the form of merger or the form of absorption. Amalgamation is the legal process, in which two or more … [Read more...]

There are various forms of business organization in which the business entity can be organized, managed and operated. Sole Proprietorship is one of the oldest and easiest forms, which is still prevalent in the world. In this type of business, only one person owns, manages and controls the business activities. The individual who runs the business is known as a sole proprietor or sole trader. On the contrary, Partnership is that form of business organization two or more individuals come … [Read more...]

Leadership is a trait of influencing the behavior of individuals, in order to fulfill organizational objectives. A number of leadership theories have been propounded by various management experts considering behaviour, traits, nature, etc. namely, Authoritarian, Laissez-faire, Transactional, Transformational, Paternalistic and Democratic. Transactional Leadership or otherwise known as management leadership, refers, to a leadership style which lays emphasis on the transaction between leader and … [Read more...]