What Is Risk Management? Risk management is a process carried out by an organisation that seeks to identify, measure, monitor and control risks an organisation faces. Business is complex and where there is complexity there is risk. Business managers find themself with many decisions to make, constrained resources, competing priorities and environmental factors to consider …
This article explains the role of entrepreneurship in economic development. What is Entrepreneurship? Entrepreneurship is the process of identifying a business opportunity and assuming the risk of creating and running a business in order to exploit that opportunity. There are two types of entrepreneurs, the innovative one who brings new products and services and the …
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This article explains the various types of communication barriers. What is communication The commonly used definition of communication which was developed from communication systems describes communication as the transmitting of information from a source to a destination through a specific channel. Communication is simply the process of sending and receiving messages or information. It is …
A business environment, both internal and external, refers to the surrounding factors that influence business operations. Businesses operate in an open system therefore political, economic, social and technological factors affect its day to day operations. It is therefore essential for businesses to study both the internal and external environments because they have a bearing on …
For any business to function successfully, all the rules, company values, and polices have to be communicated to everyone within the organisation and outside the organisation. This is called business communication, and there are several objectives of business communication. This article will outline the objectives of business communication. What is Business Communication Business communication can …
This article outlines the advantages and disadvantages of ATM Machines (Automated Teller Machines). In today’s era of digital banking ATM machines are very relevant. Many people around the world rely on ATM machines to access hard cash which remains a crucial part of people’s day to day transactions. Automated Teller Machines have several advantages and …
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It’s important to understand the nature of international business. The term ‘international business’ comes from the word ‘international marketing’. Businesses in many countries used to export raw materials to nearby countries. Soon, these businesses expanded beyond the trade of raw materials to exporting processed and finished goods. Due to various factors such as the need …
A business that operates in more than one country is called an international business. The scope of an international business is that it conducts transactions of goods and services at a global scale. International businesses are large in size and provide employment to a large number of people. The businesses are foreign currency earners for …