Business is the activity of making one’s living or making money by producing or buying and selling products.
Business is any activity or enterprise entered into for profit.
To run a successful business, you must adapt to a changing situation.
Types of business
1. Sole proprietorship
4. Limited partnership
Business is a deeply human institution but its purpose is not to make as much money as possible.
Business creates job opportunities because they need people to produce and sell good and services to the consumer.
Actually,There is no limit on how much and how fast you can earn as a business owner!
- Customer service
- Human resources
Business is a field that allows professionals to be creative and earn rewards based on the merit of their work.
Some disadvantages in business include; Financial risk, stress, time commitment and undesirable duties.
A person whose job is to manage a business is known as administrator.
The important point of a business is the people we serve as our goal is to provide a service to make life easier for the people or consumer.
The Golden rule in business states that “You must treat others in the same way that you would want to be treated in the same situation”.
The proper role of a business in the society includes both social and economic responsibilities.
Successful business use resources effectively and efficiently to execute business strategies.
Growth strategies in business
1. Market penetration
2. Product development
3. Market expansion
How to grow your business
1. Get to know your customers.
2. Use social media to market your products.
3. Offer great customer service.
4. Sell more products and services to your existing customers.
5. Target new customer markets.
6. Build partnerships.
7. Know your business inside and out.
8. Learn about your competitors.
To grow your business, nurture existing customers and look for new opportunities, cultivate value, focus on a narrow niche and deliver extraordinary service.
Thanks for reading…
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