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What is Production?

April 9, 2023April 7, 2023 Lisa Brown assembly, delivery, design, distribution, efficiency, finished goods, goods, growth, industries, labor, manufacturing, market demand, marketing, planning, production, raw materials, services, sourcing, suppliers, technology, transportation

In this article, we will discuss the production process, its stages, and its importance in modern economies. Definition Production is

What is a Pricing Strategy?

April 8, 2023April 7, 2023 Lisa Brown brand perception, business, competition, consumer demand, discount pricing, dynamic pricing, freemium pricing, market share, marketing goals, penetration pricing, pricing, pricing strategy, products, profitability, services, skimming pricing

If you own a business, you may be wondering how to determine the appropriate price for your goods or services.

What is Outsourcing?

April 6, 2023April 5, 2023 Lisa Brown accounting, business practice, business process outsourcing, company, cost savings, customer service, efficiency, external parties, human resources, in-house, information technology outsourcing, IT support, job losses, low-wage countries, maintenance, manufacturing, manufacturing outsourcing, nearshoring, non-core business functions, offshoring, onshoring, outsourcing, Payroll, production of goods, products, scalability, services, software development, specialized IT skills, support, tasks

If you are an entrepreneur, you should know the term outsourcing to grow your business. In this post, we will

Logistics: Importance & Benefits

April 3, 2023April 3, 2023 Lisa Brown business, competitive edge, coordinating, customer service, flow, goods, healthcare, improve customer satisfaction, information, inventory, Logistics, manufacturing, materials, maximizing efficiency, minimizing costs, organizing, planning, procurement, reduce costs, resources, retail, services, supply chain, timely delivery, transportation

Logistics is a crucial process that involves the planning, organization, and coordination of the movement of goods, services, and information

Intellectual property (IP) – Explained + Examples

March 23, 2023March 23, 2023 Young Entrepreneur artistic works, business, control, controlling, Copyright Office, copyrights, creating, creations of the mind, creative works, enforcing, government agencies, images, infringement, innovation, intangible assets, Intellectual property, inventions, law, legal protection, legal rights, licensing, literary works, monetize, monetizing, names, ownership, owning, Patents, penalties, permission, registration, services, symbols, trade secrets, trademarks, United States Patent and Trademark Office, USPTO

Intellectual property (IP) refers to creations of the mind, such as inventions, literary and artistic works, symbols, names, and images

Income Statement – Explained + Examples

March 21, 2023March 21, 2023 Young Entrepreneur Balance sheet, cash flow statement, company, Cost of goods sold, earnings per share, EPS, expenses, financial health, financial performance, financial statement, gross profit margin, growth prospects, income statement, investors, marketing expenses, net income, products, Profit, profitability, rent, revenue, salaries, sale, services, specific period, stakeholders, wages

An income statement is a financial statement that shows a company’s revenue, expenses, and net income over a specific period

Free Trade – Explained + Examples

March 17, 2023 Young Entrepreneur barriers, Canada, China, competition, consumers, customs union, developing countries, Economic growth, efficiency, European Union, exploitation, foreign trade, Free trade, free trade agreements, global scale, goods, industries, international organization, international trade, investment, job losses, lower prices, member countries, Mexico, NAFTA, North American Free Trade Agreement, Open Door Policy, quotas, services, specialization, subsidies, tariffs, TPP, trade agreement, trade barriers, Trans-Pacific Partnership, United States, workers, World Trade Organization, WTO

Free trade refers to a system of international trade that allows goods and services to move between countries without any

A Franchise – Explained + Examples

March 16, 2023March 16, 2023 Young Entrepreneur brand recognition, business arrangement, business model, company, customer base, established brand, fast-food restaurants, fees, franchise, franchisee, franchises, franchisor, independent decisions, individual, limitations, marketing, operational procedures, quality standards, Retail Stores, risk of failure, royalties, service-based businesses, services, support, training, upfront costs

A franchise is a type of business arrangement where an individual or company (known as the “franchisee”) is granted the

E-commerce – Explained

March 6, 2023March 6, 2023 Young Entrepreneur accommodations, Airbnb, amazon, apartments, b2b, b2c, beauty, Best Buy, books, brick-and-mortar stores, business, businesses, buyers, buying, c2b, c2c, clothing, commercial transactions, consumers, convenience, costs, customers, delivery services, drivers, e-commerce, e-commerce platform, electronic platforms, electronics, electronics retailer, Etsy, fashion retailer, glasses, Glossier, goods, groceries, handmade, houses, in-store pickup, mobile apps, modern economy, online, online eyewear retailer, online marketplace, online platform, online retailer, online shopping, Online Stores, physical stores, products, retail giant, revolutionizing, riders, rooms, sellers, selling, services, shopify, short-term stays, skincare brand, social media, transportation services, try on, uber, vintage goods, Walmart, Warby Parker, websites, wider customer base, Zara

E-commerce refers to the process of buying and selling goods or services online. It involves using electronic platforms such as

Economic Systems + Examples

March 3, 2023March 3, 2023 Young Entrepreneur abuse of power, allocate, capitalist economy, central planning, command economy, competition, complexity, consumption, corruption, decision, demand, distribution, Economic growth, economic system, efficiency, environmental degradation, environmental goals, goods, government, Impact, income inequality, individual freedom, informed decision, innovation, institutions, intervention, laws, market economy, market transactions, mixed economy, modern economy, policies, policymaker, production, property, quality, regulation, resource, resources, services, shortage, social, social welfare, society, supply, taxation, transaction, unemployment

An economic system is a complex network of institutions, laws, and policies that govern the production, distribution, and consumption of

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