Top 10 responsibilities of Government towards Business The Government’s responsibilities towards business are as follows: 1. Enacting and Enforcing Laws Enacting and enforcing laws is the prime responsibility
Capitalist economic system In a capitalist economic system, the means of production are owned and operated by private individuals whose main object is to maximize profits. Free enterprise,
What is Social Responsibility of Business? Social responsibility can be said to be the obligation on the part of business enterprises to protect and promote society’s welfare. The
Definition of Policy Policies are broad guidelines which direct the future course of the business. Definition of Tactics Tactics are micro-level actions which which contribute for the achievement
Importance of tactics in business Tactics are of paramount importance in business, specifically due to the following reasons. 1. To meet competitions effectively Strategies are implemented through tactics.
What is Business Process Re-Engineering? Business process re-engineering (BPRE) or business re-engineering has become the millennium’s buzzword in management and industry circles. Business process re-engineering has become a
The following are the advantages and disadvantages of cartels: Advantages of Cartels 1. Assurance of profits Since prices charged by cartels are more than the cost of producing
What is a Cartel? A cartel is a form of combination in which independent business firms in an industry agree to regulate their output, to fix sales quotas
What is a Plant Layout? Once a suitable location of the plant has been decided upon, the next important issue is the design of the layout. Plant layout
A complete business report has the following parts. Each part is briefly explained Essential elements or Parts of a Business Report Here are some of the essential elements