by Radoslava Seferinova | Feb 19, 2024 | Glossary
In most cases, the business starts with an entrepreneur. Entrepreneurs are people with creative and innovative ideas. They identify a gap in the market and try to create a solution to address the problem by bringing a product or service to market and providing value...
by Radoslava Seferinova | Feb 14, 2024 | Glossary
Every successful business starts with an idea supported by market research. This idea aims to satisfy a specific need of the consumer. Since a business cannot exist on its own it needs to create or add value to the community. Depending on the entrepreneur’s...
by Radoslava Seferinova | Feb 6, 2024 | Glossary
Choosing the right business strategy is essential to the success of every company. Whether the strategic plan is focused on company-wide, a specific department, or a project in your business, it’s important to identify ways to improve it. One way is through a...
by Radoslava Seferinova | Jan 30, 2024 | Glossary
For any business, earning profit is important. But to become aware if the company is successful it needs to compare the ratio of the total profit that it makes to the cost of resources devoted (invested) to achieving a positive return. A positive return refers to...
by Radoslava Seferinova | Jan 17, 2024 | Glossary
Business efficiency is an important part of any company. Good efficiency can improve a business by the conversion of hard work into assets that generate revenue such as services and products. In order to clarify the efficiency of the business, it is important to know...
