Category: Entrepreneurship and communication skills

Introduction Trends refer to long term movements in a certain direction. In society a trend describes a direction in the tastes and desires of the general population. For entrepreneurs, trends present an incredible world of opportunities. Once an entrepreneur identifies Read More …

The following are some of the benefits associated with the various ICT tools : 1. The Phone The phone is used to communicate verbally with customers and suppliers.  This includes both the fixed line and mobile phones Other than verbal Read More …

A business can utilise ICT in pursuit of its objectives. ICT enables a business to access the relevant information for efficient management of the business.  This is in turn leads to; Increased profits, Improved time management, Increase in cost-effectiveness, Increase Read More …

Information and Communication Technology is an umbrella term that includes any communication device or application. ICT describes a range of technologies for gathering, storing, retrieving, processing, analysing and transmitting information.

A business plan is important for a business because it can be used to: Obtain finances Hire staff Attract partners – To expand the business Guide the business in its operations

A business plan should be comprehensive enough to give any potential user a complete picture and understanding of the venture and will help the entrepreneur clarify his or her thinking about the business. Although there is no generally accepted format Read More …

The question of ethical business practice is a widely debatable subject. Profit and morality are incompatible. For instance the pursuit of wealth is a barometer of success yet it is popularly believed that wealth tends to corrupt individuals. All ethical Read More …

Creates fairness in competition Business ethics ensures that there is fair play as business firms compete with each other. e.g. It would be unethical to: Buy competitors products and destroy them before they reach the market Discredit competitors products with Read More …

Ethics refers to prescribed or accepted code of conduct. For a business to run smoothly there must be rules and regulations that govern the behaviour of each and every employee. These rules could either be written implied or naturally accepted Read More …

It increases costs to the business It makes the business to spend resources and thus reduces profit Increased social responsibility cost is passed onto the consumers in form of higher prices Most businesses lack the skills to solve social problems Read More …