When we say business we quickly think about the market, we think about the sales and trade. The word business world brings to our mind a picture of becoming good executives, etc.
The business world defines the market in which everyone has the ream to capture. The business world is where the small entrepreneur thinks about the start-up their own business with the competitive market.
The business world is the whole of competition where there is an international market as well as a domestic market where are different barriers for everyone.
In every market, there is a set of their own rules which have to follow by every businessman. The business world is full of big fish and small fish.
A person can only survive in the market if the product or the service is innovation. The business world does not remain stable it changes from period to period, the company should be in the pace of change as the period change.
There should be diversification in the business world. As Harold Geneen said, ”In the business world, everyone is paid in two coins; cash and experience. Take the experience first; the cash will come later.”
The Risk In Business
The risk in the business world is different. There is a higher risk in the business or the lesser risk but, to tackle the risk in the business world is the most important thing.
In the business world, the car should only move forward and not backward. Some said that “failure is one step toward the success.” But if you are not failing, then there is your more chance of losing the business.
Nokia company had failed to capture the market and was in the stage to shut company. In the market, the company does not sell the product they sell their experience to the world. Globalization has driven the business world to a different level where they have to be innovative at several time.
Ways Of Doing Business
The business world, there should be ethics of the company, where they do not mislead the customer. Business world always understands that customer is the king of the market. The company tries to also help the Government in doing social work for the country and help them to develop the country.
The business world is useful for the country to develop country employment and infrastructure. The country is defined as one of the parameters of business in the country.
The business also helps to grow the GDP of the country. Due to the vast market of the country, there is heterogeneity product which differs to everyone. There is no monopoly in the business world due to that there is no price discrimination to any customers.
Nowadays there is CSR done by the company to improves the image and brand of the company in the market. The company like TATA does the CSR to build the reputation of the company. CSR helps the company to gain the attention of the stakeholders.
It is very difficult for the International company to convince that they also indulge in the CSR activity. For the MNC there is most difficult to enter into other’s country local market.
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