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Business Research - Essay Example

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Summary
In economics business means human skill of managing people to organize and maintain collective productivity toward accomplishing particular creative and productive goals to generate profit. Such activity refers to commercially viable and profitable work that needs extensive research, analysis and training before its commencement…
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Business Research

Speaking in the terms of economics we need to strengthen first the factors of production to set up a new venture namely land, labour, capital and organization; be it either service oriented or manufacture based or even trading. The first and foremost necessity is the project with clear layers of strategic growth. One has to acquire land that covers building and machinery for the initiation. After the acquisition of the land, the entrepreneur has to move on proper legal documentation such as “Registration of the Firm”. Once the registration is done furnishing its source of fund, annual estimated turn over, chain of man power and delegation of responsibilities we can precede further. Then it is important needs to the source of raw materials that have to be procured from the possible cheapest region with the lowest cost of transportation. Eventually we need a clear road map to market our product. Thus, every entrepreneur set the bridge of profit across the flow of the possible consumers. ... Read More
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