Without strong fundamental elements like structure and plan, a business will never move from concept to successful real-world organization.
Business essentials include all of the elements that contribute to the success or failure of a business. Learn about business plans, models, and the fundamentals that are key to success.
Surveillance Camera in a Retail Store with Blurred-Out People Shopping in Background
Organized Retail Crime (ORC): How It Works, Consequences, and How to Combꦦat It
Male mechanics greasing a metal machine part in the workshop and fixing a mechanism for transmitting torque
How ꦬBlack Inventors Contributed to Industrialization
Early factory workers in America.
International Workers' Day (Labor Day): Meaning, History
Photograph of soldiers with guns on train during 1894 Pullman Strike
The 10 Biggest Strikes in U.S. History
Absolute vs.ꦇ 🌞Comparative Advantage: What’s the Difference?
Agency Theory
What Is Agency Theory?
Woman in discussion with a financial advisor in an office
Commission: Definition and Examples, Vs. Fees
Economies of Scale
Economies of 𝄹Scale: What Are 🌳They and How Are They Used?
Expense
Expense: Def💝inition, Types, and How It Is Recorded
Greenfield Investment
Greenfield Investment Definition
What Are Interest Rates?
Int🅺er✤est Rates: Types and What They Mean to Borrowers
Intermediate Good: A product used to produce a final good or finished product.
Intermediate Good: Definition and Examples
Liability Definition
Liability: Definition, Type🌊s, Example, and Assets vs. Liabilities
Limited Liability: A legal structure that limits the extent of an economic loss to assets invested in an organization.
Limited Liability Definitꦡion: How It Works in Corporations and Businesses
Perfect Competition
Perfect Competition: Examples and How It Works
Transaction
Transaction: Definition, Accounting, and Examples
A picture taken during an organised tour by Yemen's Huthi rebels on November 22, 2023 shows the Galaxy Leader cargo ship, seized by Huthi fighters two days earlier, at a port on the Red Sea in Yemen's province of Hodeida.
CIF vs. FOB: What's the Difference?
financial stock market graph chart of stock market investment trading
ཧThe Difference Between Re𝔉venue and Cost in Gross Margin
Affiliate: Definition in Corporate,♈ Securi💛ties, and Markets
Code of Ethics
Code of Ethics: Understanding Its Types and Uses
Young business colleagues in a boardroom talking and smiling
Core Competencies in Business: Finding a Competiꦑtive Advantage
Corporate Culture
Corporate C𒆙ulture Defi♑nition, Characteristics, and Importance
Customer service
What Is Customer Service, and What Mak꧑es It Excellent?
Ex Works
🐻Ex Works (EXW): Definition, Pros and Cons, Plus More Incoterms
Feasibility Study
Feasibility Study: What It✱ Iꦏs, Benefits, and Examples
4 Ps of Marketing
4 Ps of Mark💟eti𝓰ng: What They Are & How to Use Them Successfully
Internal Control: The mechanisms, rules, and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.
Internal Contꦰrols: Definitꦐion, Types, and Importance
Lead Time
Lead Time: Definition, How It Works, and Example
Management by Objectives
Management by Objectiv🍌es (MBO): L🎃earn Its 5 Steps, Pros and Cons
Manufacturer's Suggested Retail Price (MSRP)
Manufacturer's Suggested Retail Price (MSRP): Definition and How Is Determined
Market Share
Market Share: What It Is and Formula
Non-Disclosure Agreement (NDA)
Non-Disclosure Agreement (NDA) Explained, With 🌄Pros and Cons
Opportunity Cost Definition
Opportunit🉐y Cost: Definition, Formula, and Examples
Outsourcing
Ou𓆉tsourcing: How✱ It Works in Business, With Examples
Payment-in-Kind (PIK): Using a good or service as payment instead of cash.
Payment-in-Ki♈nd (PIK): What It Is, How It Wor⛦ks, Pros and Cons
Price Discrimination
What Is Price Disc𒆙rimination, and How Does It Work?
Quasi Contract
Quasi Contract
Research and Development
What Is Research and Development (R&D)?
Request for Proposal
RFP: What a🦹 Reque𒁃st for Proposal Is, Requirements, and a Sample
Social Responsibility in Business
Social Responsibility in Business: Mean📖ing, Types, Examples, and Criticism
Process
Standardization
Total Quality Management
What Is Total Quality Management (TQM), and Why Is I𝐆t Important?
The economic enhancement of a company gives its products or services before offering them to customers.
Value-Adꦆded Product: What It Means in Industry and Marketing
Value Chain
ꦫValue Chain: Definition, 𝕴Model, Analysis, and Example
Value Proposition
Value Proposition: How to Write It With Examples
Large cranes unloading a container ship at a port.
How Can🦋 I Obtaiꦜn a Telex Release for a Bill of Lading?
Equity finance
Should a Company Issue Debt or Equity?
Man in trading room evaluating trends of an asset on a big screen
Present Valuᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚe (PV) vs. Net Present Value (NPV): What’s the Difference?
Business people shaking hands in the office.
How Do Modern Corporations Deal Wi𒉰th Agencyꦏ Problems?
Businessman Giving a Presentation to His Team
Bro🎶wnfield Investment: Definition, Ad🔴vantages, Vs. Greenfield
Credit Enhancement: Definition, Benefit🐎꧑s, Techniques
Incoterms
Incoterms: Definition, Examples, Rules, Pr൲os & Co🐼ns
Operating Lease
Operating Lease: How It♔ Works an⭕d Differs From a Finance Lease
A man placing a proxy ballot in a box
Proxy Fight: Definition,♏ Ca꧑uses, What Happens, and Example
Enterprise Risk Management (ERM)
Enterprise Risk Management (ERM): What🌟 It Is and How Iᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚt Works
Identifying and Managing Business Risks
A business team discusses a business plan with diagrams, documents and digital devices in the office.
What Is a FIG at an Investment Bank?
Articles of Association
What Are Articles of Association?
What Is Attrition in Business? Meaning, Types, and Benefit💮s
Balanced Scorecard (BSC)
What Is a Bala♕nced Scorecard (BSC)? Examples and Uses