The OD cycle is a framework that is used to solve problems that have been identified in a firm. Since a problem might adversely affect a firm’s objectives, it becomes important for the management to get rid of it as soon as possible. The OD cycle outlines the steps the firm ought to follow to…
Sole Proprietorships Sole proprietorship – business owned and run by a single person who has the rights to all profits and unlimited liability for all debts of the firm Easiest form of business to start Management is relatively simple Owner can keep the profits without having to share them with other owners Proprietorship does not…
ADAPTATION – The process of adjusting to a different environment. BRANDING – A name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers. CROSSCULTURAL SYMBOLS – The meanings of symbols across several cultures. CUSTOMS BROKERS – An authorized agent specialized in customs clearance…
International Business: Includes all commercial transactions (such as private and governmental, sales, investments, and transportation) that take place between two or more regions, countries, and nations beyond their political boundaries Balance of Trade: The difference in value between a country’s imports and exports Balance of Payments: The difference in total value between payments into and…
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1. Return Address (Letter Head) The return address is necessary for the receiver of the letter to know where to send a reply. 2. Date Line The date line is the line that indicates that date the letter was keyed. 3. Inside Address The inside address is the name and address of the recipient of…
Throughout human civilization, the art of selling ideas or products has been a cornerstone of society. Some people have become masters at this art, yielding themselves and their companies, large amounts of profit. Why is it that some people are better at this than others? This paper will take a look at the various aspects…
This being the day of the great downsize many managers are hurrying to make the cut’s and in doing so closely examining their Employee-Assistance Programs for effectiveness. What are they? How do they help? How do they work? Are they worth the hassle? What are they? By definition employee-assistance programs (EAP’s) give a business the…
In the year 1719, the English public debt was an overwhelming problem that hindered the Parliament as well as the Crown’s ability to effectively manage England’s finances. The manner in which government taxes were collected was inefficient and they often attempted to collect taxes several years in advance in an attempt to gain control over…
The ledger should be balanced after each full accounting entry. Periodically it is necessary to check the accuracy of the ledger. This is done by doing a trial balance. A trial balance is a listing of the account balances in a ledger. You must add up all of the debit balances, and all of the…