Foreign Educator Teaching System

Tag: business

  • Specializations

    Levels of specialisation   By country Countries specialise in producing certain goods. India specialises in producing tea and china specialises in producing electronic goods   By region The gulf countries specialise in extracting or providing oil   By town A town may specialise in producing something. Amsterdam specialises in producing flowers   By firm A…

  • Need for Communication skills

    Why have good communication skills Good communication skills. Why? 1. Globalization The businesses are not only operating in their own countries, but also in other countries in the world. To convey a message or an idea to a person with a totally different background, culture and ethnicity a person should have very good communication skills.…

  • Change in structure of Business organization

    Effect of changes in structure of business organizations When public corporations are sold to the private sector it is called privatisation Effects of privatization: –        Business efficiency (low cost, high quality)What determines the demand for factors of production

  • Advantages of Planned economy

    Advantages of Planned system Wasteful competition is avoided Goods and services like health and education are provided Even distribution of income

  • What is market research?

    Market research to business Marketing department conducts the market research The following questions are answered in the market research What the consumer wants? At what price does he/she wants it? At what place would it be sold?

  • Why business needs funds?

    Why a business needs funds To commence business activities To expand business To help survive a loss making business

  • What is a Franchise?

    Franchise To use the name of a large business to conduct business activities Franchisee uses the name Franchisor grants the permission to franchisee to use the name for a fees Eg. Mc Donald’s has many restaurants all over the world which are mostly run by the franchisees

  • What is Sole trader?

    Sole trader A business owned and managed by one person One person makes the decisions Profit is not shared, sole trader enjoys the entire profit If business loses money, the sole trader has to sell his/her personal assets to pay off creditors (unlimited liability)

  • Types of Business organisations

    Types of business organisations Sole trader Partnership Limited companies Franchise Joint ventures

  • Entering new markets

    Problems of entering new market Lack of knowledge No contacts Lack of appreciation   How to deal with this problem To make aware with the laws and customs The business should hire some local people in the country A detailed market research should be conducted to determine the tastes, needs and wants of the people…