Entrepreneurship Essentials: Concepts, Strategies, and Business Setup
What is Entrepreneurship?
Entrepreneurship is the process of designing, launching, and running a new business, which often initially is a small business. The people who create these businesses are called **entrepreneurs**. It involves identifying a need or opportunity and then marshalling resources (financial, human, intellectual) to bring a new venture to life. Entrepreneurship is characterized by innovation, risk-taking, and a strong drive to succeed. It’s not just about starting a business; it’
Read MoreUnderstanding Your Payslip: A Comprehensive Breakdown
Understanding Your Payslip
A payslip, also called a wage slip, is the document delivered to workers with their wages. It specifies each of the earnings, as well as deductions.
Header of Wage
The header includes information such as:
- Category or occupational group: Workers are classified into different occupational groups according to the functions performed and the qualifications or knowledge acquired in their profession.
- Quotation group: All workers are included in one of eleven groups for social security
Strategic Marketing Essentials: Pricing, Product, and Communication
Price as a Strategic Business Variable
Price is a key factor in business strategy, significantly influencing revenue, profitability, and competitiveness.
Key factors influencing price include:
- Operating costs
- Demand and supply balance
- Competition
- Customer perception
- Shipping costs
Effective pricing also influences product positioning, customer segmentation, and overall revenue generation.
Understanding Price Elasticity of Demand (PED)
Price Elasticity of Demand (PED) measures how demand for a product or service
Read MoreInternational Business Expansion: Strategies & Market Entry
Understanding International Business Entities
International Company: An exclusively exporting or importing company typically does not have significant investments in other countries.
Multinational Company: Companies that operate in several countries, where each country has its own rules, but all are governed by a common overarching entity.
Transnational Company: Companies with headquarters in their country of origin and subsidiaries in several other countries, with these subsidiaries depending on the
Read MoreFoundational Concepts in Agile and Cybersecurity
Pre-Sprint: Agile Fundamentals
This section covers foundational concepts for effective problem-solving and collaborative work within an Agile framework.
Problem Solving & Decision Making
- Problem Solving: The ability to develop and apply solutions to challenging situations, encompassing:
- Research
- Active Listening
- Analysis
- Communication
- Team Building
- Decision Making: The ability to choose appropriate solutions for challenging situations, requiring:
- Problem Solving skills
- Leadership
- Emotional Intelligence
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Read MoreSports Finance Essentials: Valuation, Economic Impact, and Funding
Sports Finance and Budgeting Fundamentals
Budgeting Systems in Sport
Preferred Budgeting in Sport
Question: Which form of budgeting is preferred in sport, as it begins with a floor of expenses while also using cost behavior and cost identification techniques?
Answer: Modified zero-based budgeting.
Program Planning Budgeting Systems
Question: This budgeting system is associated with output budgeting, in which specific goals and objectives form the framework for a strategic, goal-oriented budgeting process.
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