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An entrepreneur in a developing economy is one who starts an industry, undertakes risk, bears uncertainties and also performs the managerial functions of decision-making and coordi­nation. A most appropriate definition of entrepreneur is that, “he is a man who detects and evalu­ates a new situation in his environment and directs the making of such adjustments […]

Classification of Business Activities

Business refers to the production and distribution of goods and services. There is a wide spectrum of business activities ranging from procurement of raw materials, its conversion into finished or value added products to the distribution of goods to the ultimate consumers. Various business activities can be classified under two broad categories – 1. Industry […]

Types of Partnership

Everything you need to know about the types of partnership. Partnership is the second form of organisation that came into existence. A partnership is an association of two or more persons, who agree to combine their financial resources and managerial abilities to run a business and share profits in an agreed ratio. “Partnership is the […]

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