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 Combat It
Male mechanics greasing a metal machine part in the workshop and fixing a mechanism for transmitting torque
How Black Inventors Contributed to I🌞ndustrializatꦆion
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. Comparative Advanta🎀ge: What’s the Differe♉nce?
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 o♋f Scale: What Are They and How Are They Used?
Expense
Expense: Definition, Types, and How It Iꦉs Recorded
Greenfield Investment
Greenfield Investment Definition
What Are Interest Rates?
Interest Rates: Types and What They Mean to Bo🧔rrowers
Intermediate Good: A product used to produce a final good or finished product.
Intermediate Good: Definition and Examples
Liability Definition
Liab🐷ility: Definition, Types, 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 Definition: How It Works in Corporat💝ions 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
The 🅠Difference Between Revenue and Cost in Gross Margin
Affiliate: Definition in Corp✃orate, Securiꦿties, 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 Compe𓄧ti🃏tive Advantage
Corporate Culture
🐠Corporate Culture Definition, Characteristics, and Importance
Customer service
What Is Customer Service, and ᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚWhat Makes It Excellent?
Ex Works
Ex Works (EXW): Definition, Pros and Cons, P🦋lus More Incoterms
Feasibility Study
Feasibility Study: What It Is, Benefits, and Ex🎃amples
4 Ps of Marketing
4 Ps of Marketing: 🔜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 Controls: Definition, Types🔯, and Importance
Lead Time
Lead Time: Definition, How It Works, and Example
Management by Objectives
Management by Objective👍s (MBO): Learn 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) Expla🌃ined, With Pros and Cons
Opportunity Cost Definition
൩Opportunity Cost: Definition, Formula, and Examples
Outsourcing
Outsourcing: How It W💃orks in Business, With Examples
Payment-in-Kind (PIK): Using a good or service as payment instead of cash.
Payment-in-Kind (PIK): 🌜What It Is, How It Works, Pros and Cons
Price Discrimination
What Is Price Discrimination, and How D🍒oes It Work?
Quasi Contract
Quasi Contract
Research and Development
What Is Research and Development (R&D)?
Request for Proposal
RFP: What a Request for Proposal Is, Requirements, and a S❀ample
Social Responsibility in Business
Social Responsibility in 🌌Business: Meaning, Types, Examples, and Criticism
Process
Standardization
Total Quality Management
What Is Total Quality Management ♐(TQM), anཧd Why Is It Important?
The economic enhancement of a company gives its products or services before offering them to customers.
Value-Added Product: 🎉What It Means in Industry and Marketing
Value Chain
Value Chain: Definition, Model, Analysღis, and Example
Value Proposition
Value Proposition: How to Write It With Examples
Large cranes unloading a container ship at a port.
How Can I Obtai𒁏n a Telex Release for a Bill of Ladin🥂g?
Equity finance
Should a Company Issue Debt or Equity?
Man in trading room evaluating trends of an asset on a big screen
Present 𝐆Value (PV) vs. Net Present Value (NPV): What’s the Di✱fference?
Business people shaking hands in the office.
How Do Modern Corporations Deꦜal With Agency Problems?
Businessman Giving a Presentation to His Team
Brownfield 🥂Investment: Definition, Advantages, Vs. Greenfield
Credit Enhancement: D🍃efinition, Benefits, Techniques
Incoterms
Incoterms: Definition, Examples, R༒ules, Pros & Cons
Operating Lease
Operating Lease: How It Works and Differs From ᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤🎶⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚa Finance Lease
A man placing a proxy ballot in a box
Proxy Fight: Definitio෴n, Causes, What Happens, and Example
Enterprise Risk Management (ERM)
Ent🐎erprise Risk Management (ERM): What It Is and How It 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 Attrit🐠ion in Business𝓡? Meaning, Types, and Benefits
Balanced Scorecard (BSC)
What Is a Bal𝓀anced Scorecard (BSC)? Examplওes and Uses