What is a company profile ? A company profile is a document that gives information about an organisation. Providing organisational information is vital as it helps external stakeholders to understand the company. It plays an essential role in bringing crucial stakeholders on board by providing positive information about the firm. A company profile varies in size as organisations differ regarding age, size, product portfolio, and…
Unique- the topic should stand out, which distinguishes it from the existing studies. A research seeks to address gaps in the existing studies. In other words, it improves the existing knowledge, thus requiring a topic that is different from the existing literature. Moderate scope- the title of a dissertation should neither be too narrow or too broad. A narrow scope shows a lack of seriousness, while…
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A limited company is the most preferred business form when it comes to profit-oriented organizations. Registering a company creates some benefits that are absent in other forms. Besides a company, other forms of business organisation include sole proprietorship, partnership, corporations, and cooperatives. Documents required for limited company registration in Kenya 2021 At least 3 Name suggestions or proposals for the company name. Passport photos and ID…
A business plan is a document that shows where a business wishes to go and how to get there. It is useful for new and existing businesses. A business plan provides a sense of direction in today’s business environment characterised by cut-throat competition and environmental complexities. It is a vital tool for attracting investors and financiers and also helps in communicating with key stakeholders. The Cost…
A business proposal is a document used to persuade an organisation to buy a product. It convinces the target client that a proposed product will solve an identifiable need/problem. Therefore, piecing together a persuasive proposal determines the ability to sell a service or product. How Much Does A Business Proposal Cost? The charges for writing a business proposal vary between consultants. However, nature and timelines determine…
Ethical dilemmas are common when making crucial decisions. Managerial decisions raise ethical issues making it necessary to have an understanding of the consequences of different alternatives during decisions making. Ethical dilemma in organizations refers to a situation where the decision maker is confronted by many viable solutions to a problem. Most of the dilemmas that occur emanate from the fact that organizations have many stakeholders with…
Starting a new business requires the investors to decide on business type in legal perspective. The United Kingdom business law recognizes different types that include sole proprietors, Partnerships, limited private companies, public companies, and cooperatives (Fleming 2000, p.17). These types have unique characteristics giving them strengths and weaknesses. It is essential for investors to make the necessary assessment to identify the specific business type that best…
Lack of capital is a common problem facing most small enterprises. The ability of a small business to grow into a large company depends on the availability of capital. Saving capital is therefore vital in these enterprises to make them realise organisational goals using minimal capital. Protecting the working capital is imperative to ensure the business continues operating despite the low capital injection. Working capital refers to…
Human resource management in a small business is concerned with ensuring the enterprise benefits maximally from its workers. People are the most critical resource due to their massive contribution to the realisation of organisational goals. Below is a list of six areas that can help small businesses to effectively manage their workers to be on the path of growth and profitability. Hire the Right People Small…
Small business fails due to many reasons, and it is necessary to evaluate some of the main reasons to guide entrepreneurs. Evidence shows that over 90% of start-ups fail which warrants investigating the forces driving the high level of failures among small businesses. Below are some of the main reasons why small businesses fail. 1.Poor management Management is concerned with using people and other resources to…
In the past one decade, farmers of traditional cash crops such as coffee, tea, sugarcane, and cotton have remained a disappointed lot due to the dwindling prices. The collapse of these cash crops has led to farmers exploiting other farming ventures to fill the financial gap. One of the best ways of fixing this mess is macadamia farming which has proved to be a lucrative business.…
Blue ocean strategy was advanced by Chan Kim & Renée Mauborgne in the year 2004. This strategy emphasises on creating and exploiting uncontested market spaces. In other words, it makes competition irrelevant since a firm moves into new market segments that never existed before that are characterised with zero competition. Applying this strategy requires a firm to not only create new products but also differentiate the…
The world’s largest companies started as small businesses and exploited different sources of competitive advantage leading to sustainable growth. The ability of a micro-enterprise to grow into a medium enterprise and eventually a large company depends on how best sources of competitive advantage are utilised. There are many sources of competitiveness, and it is the manager’s responsibility to monitor the environment to identify these sources. The…
Internal audit is the process of evaluating the organisation’s internal controls, risk management, and governance to give an independent opinion whether the organisation is operating effectively. It, therefore, provides a basis for improving processes and system that supports organisational growth and sustainability. It involves a detailed examination of a business process to identify innovation opportunities that make an organisation competitive. Internal audit is essential in both…
Emotional intelligence refers to the ability to understand and manage own emotions as well as those of others. The work environment is characterised by complex relationships that impact organisational performance. Positive relationships that are based on mutual understanding lead to cooperation that supports the realisation of organisational goals. On the other hand, constrained relationships that stem from the absence of emotional intelligence in leaders and followers…
Societal marketing is a marketing concept that gives priority to safeguarding society’s interests. Other marketing concepts focus on promoting profitability, and satisfying customer needs that puts the human welfare at stake. Societal marketing, therefore, seeks to address the shortcomings of other marketing concepts. The concept is based on three pillars which are company, consumers, and society. Company (Profitability) A business is created to increase the…
Market research is the systematic process of gathering information about market needs and preferences. The long-term success of a company depends on the ability to align products and services with the prevailing market needs. Successful marketers monitor potential and actual customers to identify the dynamics in needs and preferences. All marketers desire to grow the market share which necessitates implementation of strategies that seek to…