This article throws light upon the ten main qualities of a successful businessman. The qualities are: 1. Knowledge of Business 2. Accuracy 3. Time Sense and Foresight 4. Alertness 5. Honesty and Morality 6. Initiative and Capacity to Make Decisions 7. Ability to Co-Operate 8. Consistency and Dependability 9. Energy 10. Personal Qualities. Quality # 1. Knowledge of Business: The [...]
After reading this article you will learn about:- 1. Meaning of Sole Proprietorship 2. Definitions of Sole Proprietorship 3. Characteristics 4. Scope and Prospects 5. Advantages 6. Disadvantages. Meaning of Sole Proprietorship: This form of organisation is the oldest and functioning from times immemorial in one form or the other. This is a 'one man business' in which an individual [...]
After reading this article you will learn about the limitations of sole proprietorship with measures to overcome it. Limitations of Sole Proprietorship: When the business of a sole trader continues to expand, he has to face the following limitations: 1. Lack of Capital: As the sole proprietor has got a limited capital which he has already invested in the business, [...]