Tag Archives: Business

Enterprise: Meaning, Purpose, Type

What it is: Enterprise is a business organization. It comes from Old French which means “something done”. Those who start, operate and run it are called entrepreneurs (entrepreneurs) . Specifically, an enterprise is a business or profit-oriented enterprise. Some possible balance between profit, social and environmental, as done by the social enterprise (social enterprises) . Enterprise can refer to a small , unincorporated business such as a sole proprietorship. Or,… Read More »

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 »

How Businesses Build Competitive Strategies

Building a competitive strategy is about how companies outperform their competitors in generating profits by satisfying the same consumer needs and wants.  There are many businesses around us. Some target the same market. They compete directly in satisfying consumer needs and wants. And, their products replace each other. So, when consumers do not like the product of a company,… Read More »

How Does Business Work

The way a business works is basically adding value. They do this by processing inputs into higher-value outputs. Assume, a business produces goods and you are the owner. Starting a business At first, you decide what to produce. You then organize and make decisions about resources, including how to pool and organize them. Some you may have to buy… Read More »