Everything you need to know about the classification of business activities. Business activities in an economy have a wide scope. It includes a host of activities and these large number of activities may be categorized under two broad sectors, i.e., industry and commerce. While production of goods falls in purview of 'industry', its distribution is a subject matter of 'commerce'. [...]
Everything you need to know about the difference between entrepreneur and intrapreneur. The term 'entrepreneur' needs to be differentiated from the word 'intrapreneur'. An intrapreneur perceives and exploits business opportunities within an existing enterprise. He generally serves as the chief executive of a semi-autonomous product division or subsidiary. Big companies encourage their key executives having good ideas to work like [...]
Everything you need to know about the disadvantages of sole proprietorship. Any person is not equipped to own and competent enough manage a business. Often it is difficult to save enough money to start a business and carry it on. It is very difficult, at times, for a single person to cover the costs of inventory (raw materials), insurance, advertising, [...]