What are Examples of Business Resources?

In producing goods or providing services, businesses need resources. We also call it input. Economists call this the factors of production. They consist of four components: Land Labor Capital Entrepreneurship Land Businesses can use the land to produce various agricultural commodities such as soybeans and corn. They can also use it as a location for factories, shops or office buildings. … Read More »

Big Business: Definition, Characteristics

What it is: Large business (large business) is a business with business size categories above average, having major surgery and high economies of scale. They hire a lot of work and generate a lot of income. They may target national or even international markets.  With large resources, large companies have a higher competitive capacity than small businesses. They may operate several… Read More »

4 Types of Capital in Economics and Business

What it is: Corporate public (public corporation) has the following two meanings:  State-owned enterprises, which are wholly or largely owned by the government– perhaps national or local governments – to provide certain public services. It is sometimes called a national industry because one company usually acts as a monopolist in a particular industry. They usually operate in strategic sectors such as… Read More »

4 Types of Capital in Economics and Business

There are several types of capital in economics and business. Some contribute directly and are used to produce goods and services. Meanwhile, others contribute indirectly. And, here, we discuss four of them: Physical capital Financial capital Human capital Natural capital Physical capital Physical capital or capital goods are man-made tools – such as machines and equipment – ​​that… Read More »

Business Idea: Sources and Criteria for a Good Idea

What it is: A business idea is a concept or market opportunity to make money by creating and commercializing a product. In other cases, it may not be for profit purposes, but rather for social purposes as is a social enterprise, where profits are allocated to maximize social benefits instead of owner wealth. New business ideas can emerge in… Read More »

List of Examples of Social Enterprises You May Be Familiar

You may find some examples of social enterprises around you. As I have mentioned, the key words are economic, environmental and social. Social companies do not only aim to maximize profits as profit-oriented companies do (economic motives). On the other hand, they may also not pursue environmental and social goals and neglect profit as non-profit organizations such… Read More »

What Are the Reasons for Conflict Between Stakeholders?

The reasons for conflict among stakeholders can vary between businesses. Although companies in different industries face the same stakeholders, the strength and significance of their influence can differ. For example, negative campaigns by pressure groups can be very significant for a commodity-based company rather than a service company.  Who are the business stakeholders? They can be customers, suppliers,… Read More »

Value-Added Products: Definition and Brief

What: Product value added (value added products) is any product that we can sell at a price higher than the cost to produce them. It can have a broad meaning, like what a manufacturer does. They process raw materials into finished goods for final consumption by methods ranging from simple to complex. But, specifically, the term usually refers to agricultural… Read More »

Small Business: Characteristics, Importance, Disadvantages

What it is: Small businesses refer to businesses with a small operating size. There are several criteria for categorizing companies based on the size of their business, including number of employees, income, invested capital, market capitalization, and volume of output.  However, the categories and the basis for categorizing can vary between countries. In some definitions, they may have fewer than… Read More »