Entrepreneur is an individual who, operate, takes risks of a business. Which means the process of running a business by their own. Due to economic crisis through out the world these days, most of the countries are encouraging people to be and entrepreneurial which leads to increase in the jobs for the people and increase the economy of the country. People become entrepreneurs by them-self to start a business when they are controlled by many factors around them. Some people want to leave their jobs and start own business and few people want to earn money sitting at home. May be some people look for the needs for a market and to meet those needs they start their own business by supplying products for the market. If they succeed in this process this makes them successful entrepreneur. Entrepreneur is an individual or group of individuals who identify the business opportunity Continue reading
General Business Articles
5 Ways to Improve Employee Retention and Foster a Thriving Workforce
The success of every firm depends on its ability to find and keep exceptional individuals in today’s competitive job market. Workflow is disrupted by high personnel turnover, resulting in high costs for recruiting, training, and lost productivity. To address this challenge, businesses must implement smart strategies to improve employee retention. This article will explore five effective approaches that can help create a loyal and engaged workforce. Hire the Right People The foundation of a strong employee retention strategy lies in hiring the right people. Taking a proactive approach to recruitment ensures that you bring on board individuals who align with your company culture, possess the necessary skills, and exhibit the potential for long-term success. By carefully evaluating candidates through comprehensive assessments, interviews, and reference checks, you can significantly reduce the risk of turnover. Selecting employees who are the right fit enhances job satisfaction and promotes a harmonious work environment. Optimize Continue reading
Female or Women Entrepreneurship – Definition, Advantages and Disadvantages
Women constitute around half of the total world population. They are therefore regarded as the better half of the society. In traditional societies, they were confined to the four walls of houses performing household activities. In modern societies they have come out of the four walls to participate in all sorts of activities. The global evidences prove that women have been performing exceedingly well in different spheres of activities like academics, politics, administration, social work and so on. Now they have started plunging into industry also and running their enterprises successfully. Although small businesses owned by women have traditionally focused on fashion, food and other services sector, but recently women entrepreneurs have been moving rapidly into manufacturing, construction and other industrial filed. Women owned business are lightly increasing in the economics of almost all countries. The hidden entrepreneurial potential of women have gradually been changing with the growing sensitivity to Continue reading
Exploring the Concept of Sustainable Strategic Fit
Sustainable strategic fit is a concept that refers to the alignment between a company’s business strategy and its sustainable practices. In today’s business landscape, sustainability is increasingly becoming a critical factor for companies to remain competitive and relevant in the long-term. Sustainable strategic fit helps companies achieve their sustainability goals while also driving business value. To understand sustainable strategic fit, it is important to first define what is meant by sustainability in business. Sustainability refers to the ability of a company to operate in a way that meets the needs of the present without compromising the ability of future generations to meet their own needs. This includes environmental, social, and economic considerations. Businesses can achieve sustainability through various practices, such as reducing waste and emissions, sourcing materials sustainably, supporting local communities, and promoting diversity and inclusion. However, achieving sustainability is not enough on its own. Companies must also ensure that Continue reading
Management Audit – Definition, Scope, Need, Advantages and Limitations
Management audit is a method of independent and systematic evaluation of the management activities at all levels of management to ascertain the functions, efficiency and achievement of the management (i.e. policies) as compared to standards set by the company. According to L. R. Howard, “Management audit is an investigation of business from the highest level downward in order to ascertain whether sound management prevails throughout, thus facilitating the most effective relationship with outside world and smooth running of internal organization.” As per Taylor and Perry; “Management auditing is a method to evaluate the efficiency of management at all levels throughout the organization, or more specifically, it comprises the investigation of a business by an independent body from the highest executive level downwards, in order to ascertain whether sound management prevails through and to report as to its efficiency or otherwise with recommendations to ensure its effectiveness where such is not the case.” Scope of Continue reading
Everything You Need to Get Out of Debt
Everyone knows how easy it is to accumulate debt. we have debt because we require the financial assistance. Not everyone can utilize bootstrapping for everything, which is why we often turn to things, like loans and credit cards. However, these aren’t exactly the get out of jail free card some people think they are. While they can certainly be useful in a pinch, you have to understand that taking these out are another responsibility. You don’t have an infinite amount of funds on a credit card and you can’t keep borrowing loans. In this article, we’ll be going over everything you need to get out of debt. What Debt Can Do to People Before getting into how you can get out of debt, it’s important for people dealing with it for the first time to understand the positive and negative effects of debt on a your life. When you’re in Continue reading