What is the business?

Business is an enterprise or other organization established by an entrepreneur or entrepreneur. The company can be for profit or be a non -profit business. Skills in enterprises management, marketing knowledge, understanding of product or service demand, and risk management analysis are fundamental to business considerations.

Risk management is important when starting a new business, especially because many business fails in the first year. Expenditure must be covered and the entrepreneur must have an initiative and time to invest in a business. Risks such as starter funds that could be lost must be calculated, and then the potential entrepreneur will be considered acceptable than he or she continues to do business.

The product or service demand must also be carefully calculated by a potential entrepreneur. What is the expected demand for a product or service? Will the company be able to satisfy the expected demand? These are just some of the questions to answer before the decision whether business is a good idea.Marketing knowledge is also necessary for entrepreneurs. They must understand how to promote a product or service, at what price it should be sold, how and when the product will be produced and how and where the product will be sold. There are many marketing data to find out whether business is to be success.

Skills in the field of business management such as planning, budgeting, storage of records and negotiations are also important for business. The entrepreneur must be able to work well on many different aspects of business, at least until employees are hired. Entrepreneurship is considered to be beneficial for the economy because they usually create new jobs because they are experiencing growth.

Non -profit entrepreneurs can provide the necessary community services, but require the same skills as profitable companies. These business must meet the regulations on how gifts are used and often have to havetheir finances publicly displayed. Most non -profit entrepreneurs relies on volunteers to meet their goals.