After reading this essay you will learn about:- 1. Introduction: Starting a New Business 2. Why do People Enter Into Business ? 3. Ways of Entering into Business 4. Promotion 5. Problems. Essay on Starting a New Business Essay Contents: Essay on the Introduction: Starting a New Business Essay on Why do People Enter Into Business ? Essay on the [...]
The following points highlight the eight major areas in which businesses should set objectives identified by Peter Drucker. Also we will learn about the need for balancing these multiple objectives. Area # 1. Market Standing: A business must set objectives concerning what share of the market it will try to capture. The best market share requires careful analysis of: (i) [...]
There are at least top six competitors (shown below) against which a business requires advantage. The competitors are:- 1. Direct Competitors 2. Suppliers 3. Buyers 4. New Entrants 5. Product Substitutes 6. Government Agencies. Each of them attempts to exert downward pressure on a business's return on investment (ROI). Competitor # 1. Direct Competitors: These refer to firms that make [...]