Category: Entrepreneurship and communication skills

A market refers to conditions that bring sellers and buyers together. This may be a physical location or any other medium such as electronic or print. A market can also be a group of consumers or an organisation that are Read More …

There are various types of records that may be maintained by a business depending on the size of the business. The following are some of the important business records: i) Purchases journal. This is a record of all daily purchase Read More …

A business enterprise can finance its operation from various sources. These vary with the size of the business and the stage of growth. Sources are categorised as either internal or external. Internal sources are generalised within the business while external Read More …

Financial management is important because:- It helps in planning business activities Decisions can be made to make any necessary corrections where there’s need. Evaluation of performance is necessary and proper management can be aided by the tools that have been Read More …

This is the process of controlling the financial resources within a business enterprise.  In order for the entrepreneur to be an effective manager he needs to develop tools that aid in decision making. Some of the tools that can be Read More …

The use of technology is important because it increases labour productivity and this in turn increases local competitiveness for both consumer and producer. Technology selected by entrepreneurs should favour locally produced tools and equipment. This makes it easier to maintain Read More …

Time management is critical to the achievement of organization goals. Projects or activities delayed due to poor time management can cost the company in terms of poor image and loss of business opportunities due to being perceived by customers as Read More …

Cash shortages can prevent you from meeting your financial obligations and make it difficult to expand your business.  In some cases it will mean you will need to close your business. It is important to know your cash flow position.  Read More …

One of the keys to successful businesses is the employment and retention of the right people. However the employment of staff also brings with it legal obligations, including: Provision of a safe working place as per the Occupational Health and Read More …

Inventory control is the management of inventory and relies heavily on information provided by the inventory record keeping system. Inventory is required to support the operations of the business, whether it be a retailing or manufacturing business. The proper management Read More …