September 07, 2018
Risk managing factors to be properly discussed
Business is nothing but an organization initiative for buying and selling of products and services. A huge amount of money is get rolled in business depending on the size of business. There are government own business and few personal business or private organization own business. The general forms of private own businesses are:
- Sole proprietorship: when a business is owned by a particular person and the profit is kept by him all is called the sole proprietorship. He may run the business all by himself or may keep employee for the helping hand.
- Corporation: corporation is a business of limited liability. It can be government owned and privately owned both. It can be profit business or nonprofit business. Basically the government businesses are nonprofit one.
- Partnership: partnership is a percentage own business by 2 or more persons. Percentage depends upon the investment. It may be equal percentage share or may not be.
- Cooperative: Cooperative or co-op is also a business of limited liability. This type of business can be organized either for profit or not for profit. But it is different from corporation business.
The different kinds of business depending on the target group are:
B to C business: When the target group of consumers is common people for a business, it is â€˜business to consumerâ€™ business or generally termed as B to C business campaign.
B to B business: when the target group of consumers is another business is called â€˜business to businessâ€™ campaign.
Business is very simple term and simple thing as a whole. The related elements of business are the dependable criteria or secret to make a business successful. There should expertise head to perform each and every specialized section for a successful business. For a small business one man can be multi tasking but he or she need concentrate on the every department f business differently. The most important sections are:
Management: Management is the most effective and important operation of business. It is all about managing a business. One may invest a huge money and resource to stand a business. But it will not be effective enough until there is a good management. There is multiple numbers of cases or incidents when a good and big business comes to an end only because of mismanagement or no management. It does not mean huge money or huge resource makes good business but correct amount of money along with resources and enough man power makes a business. Management team is getting paid for this.
Advertising: owning a business and producing the product is of use or not at all a business until there are people to buy the product. So the advertising is needed to make people aware about the business. Providing all the information about the product is important for the business.
PR: Public relation is a specialized operation for a business. As advertising is meant for grabbing the attention of new potential customers, PR develops the relation between existing customers and the business. The PR operation is making sure that the existing customers do not switch to another similar business.
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