Month: January 2022

Economics essentially studies the way in which mankind provides for the material well being. Its thus concerned with the way people apply their knowledge, skills and effort to the gift of nature in order to satisfy human their material wants. Read More …

Ethics is the study of how our decisions affect other people. It is a study of people habits and their effect on others. It is a set of moral values or principles used by the organizations to steer the conduct Read More …

Social responsibility arises from the social power which vests upon society and society has social charters. Business shall operate as a two way open system with open receipts of inputs from society and open disclosure of its operations to the Read More …

Definition of a stock market It is a market where securities are bought and sold. Securities refer to shares, debentures, treasury bonds, treasury bills etc. Stock refers to capital detained by a company through the issue of shares. Bonds are Read More …

Methods of Raising Finance A company can raise finance in the following ways: From finance classified according to the relationship to the party giving the finance, e.g. 1) Equity finance- This is finance provided by real owners of the business Read More …

Distribution describes all the logistics involved in delivering a company’s products or services to the right place, at the right time, for the lowest cost. Well-chosen channels constitute a significant competitive advantage, while poorly conceived or chosen channels can doom Read More …

Marketing is defined by the American Marketing Association as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large The Chartered Institute of Marketing defines Read More …

Product pricing refers to establishing a selling price for a product. The basic rules of pricing are: All prices must cover costs and profits. The most effective way to lower prices is to lower costs. Review prices frequently to assure Read More …

Production means application of processes (Technology) to the raw material to add the use and economic values to arrive at desired product by the best method, without sacrificing the desired quality. Types of Production Systems The organization of manufacturing systems, Read More …

Recommended Procedures for Compliance Members and Candidates Suggested methods by which members and candidates can acquire and maintain understanding of applicable laws, rules, and regulations include the following: Stay informed: Members and candidates should establish or encourage their employers to Read More …