Price control mechanisms explained. Pros and cons of Price Ceiling & Price Floor. Introduction A country’s standard of living depends on its ability to efficiently produce goods and services, and in general, trade is considered good and is always encouraged as it has the potential to make everybody better-off. In any market, there are buyers […]
Types of Market Structure
Types of Market Structure Monopoly In Monopoly market structure, only one firm dominates the market with no reasonable substitute available to buyers. Because there is no competition, this gives the firm a lot of power over the price that they can charge. Having said that, the revenue of the company will depend on what kind […]
Business Ethics & Responsibility: Theories, Definition, Principles, Examples
Business ethics addresses issues of right and wrong in decision making, but how does one decide what is right and what is wrong. Importance of Business Ethics Business ethics addresses issues of right and wrong in decision making. Law also tells us what is right and wrong but often law is the minimum acceptable standard. […]
ICSE Class-6 History & Civics: Revision notes, questions and answers, worksheets
ICSE Class-6 History & Civics: Syllabus, Revision Notes, syllabus, question and answers, worksheets. ICSE Class-6 History & Civics: Syllabus The following chapters are included in ICSE Class-6 History & Civics subjectTheme: The River Valley Civilizations Chapters: The Mesopotamian Civilization . The Egyptian Civilization . The Indus Valley Civilization . The Chinese Civilization. Theme: The Vedic […]
Impact of Technology on Tourism
Importance of Technology in the Tourism industry. Technological Advances in Tourism Technological advances are making significant changes to the tourism industry (Revfine, n.d.) (Hooijdonk, 2019): AI powered Chatbots are being used as part of customer support; these are able to provide customers with answers to commonly asked questions on a 24/7 basis. These are used […]
Business Model Canvas: Explained with Examples
The business canvas model is one of the more commonly used framework to explain the business model of a firm, and to explain the more important elements of the business. The canvas displays all this information in a single view thereby making it easy to visualize the business (Osterwalder et al., 2011). Related: Value Proposition […]
Value Proposition Canvas
The Value Proposition Canvas is a useful tool to understand how a new product/service that a business plans to introduce can help the buyers. The canvas consists of two sections, the customer profile and value proposition (Osterwalder et al., 2014). It is a synopsis that highlights the benefits, features, and unique selling points of the […]
How to write a Term Paper
A term paper is an academic work done at the end of the term (in school, college, university) and carries a lot of weightage in your final marks/grades. It is designed to test the students ability to gather information from various sources, critically analyse them, and draw conclusions. Term paper writing can be challenging because […]
Role of WTO (World Trade Organization) in International Trade
What is WTO (World Trade Organization) and its importance in international trade. Introduction to WTO The World Trade Organization (WTO) is a global body that deals with the rules of trade between nations. The WTO strives to ensure trade flows as freely and predictably as possible. WTO replaced the GATT (General Agreement on Tariffs and […]
Technological Environment: Impact on business
Technological Environment (Domestic or Foreign Technological Factors) and its impact on business. Two of the principal divers of global development have been speed of communication and the reduction in cost of technology. Impact of technological advances: Ability to gather data on markets Management control capabilities Operational practicalities of electronic communication 4th Industrial Revolution: Autonomous production […]
Research Methodology: How to write this section
Here’s how to write research methodology in a project report (applies to dissertation, thesis, projects). Writing the Research Methodology Once you have decided the topic for your project, you’ll need to mention how you will conduct the research in order to find material for your project work. You have to mention a bit about the […]
Force (Physics) ICSE Class 6: Revision Notes
Revision notes for the chapter ‘Force’ in Physics subject for ICSE Class 6 students. Question: What is the term used for push or pull. Answer: Force Question: Give one example each of a force as (i) a push, (ii)a pull, (iii) a stretch and (iv) a squeeze. Answer: (i) Force as a push: eg. To […]
Rural Local Self Government in India
Rural Local Self Government in India, its functions and levels. Government is a body of people with the powers to govern or administer the country or state. The basic duties of a government are to protect the rights of the people and look after the public welfare. For effective administration, the government of India operates […]
‘My Shadow’ by Robert Louis Stevenson
‘My Shadow’ from A child’s garden of verses by Robert Louis Stevenson. Theme of the Poem This poem basically tells how a child gets excited on seeing his own shadow. As a result, the child started observing the shadows more closely and notices how the shadows changes depending on the person and how the shadow […]
How to Write an Internship Report
Here’s how to write an Internship Report with description after finishing an Internship. An internship allows a student to get a first-hand experience of working in their industry, and to get guidance from professionals, which should help them later to land their first job. Once the internship is completed, the student is expected to write […]
The Economic Environment facing Business
Economic environment refers to the external economic factors that can influence businesses as well as consumer behavior, and in turn impact the performance of a business. Economic environment factors are further categorized as macroeconomic factors and microeconomic factors. It is important for managers to appreciate the importance of the economic analysis of foreign markets, to […]
The Legal Environment facing business
The legal environment of a country is framed by its government and comprises of business laws that every business operating in that country must adhere to. Understanding the Legal Environment Legal Environment (Domestic or Foreign Legal Factors) stems from the political stance and cultural attitude towards business in the domestic and foreign market in which […]
The Political Environment facing business
Political Environment (Domestic or Foreign Political Factors) includes any domestic and foreign political factors which may affect the organization’s decision making, planning, implementation and control mechanisms. Marketers have to work within the framework of each country’s ruling parties in which they operate. Introduction Each nation has a unique political culture that: reflects the relative importance […]
Culture and Impact of Socio-Cultural Environment on Business
Culture is an intangible and wide-ranging concept whose theoretical basis is based in several traditional fields of research including anthropology, management, psychology and other social sciences is culture. Culture has many views; however, a very common understanding of culture is that it is related to concepts such as behaviour, values, and norms of a certain […]
Constitution of India: Social Studies
The constitution of India is the highest law in India it mentions the powers and duties of the various government institutions. It also talks about the fundamental rights and duties of the citizens of India. The constitution of India starts with a preamble, an introductory statement that explains the philosophy and objectives of the Constitution. […]
