Daily Archives: August 5, 2017


Risk is the potential for loss or injury to occur. The essence of good business decisions is the balancing of risks and potential gains. In fact, all decisions and their actions involve some amount of risk. The future is not certain. Harmful things can happen to us even when we […]

Business Risk


The accounting cycle is a series of activities that begins with a transaction and ends with the closing of the books. It is a process. Because this process is repeated each reporting period, it is referred to as the accounting cycle and starts with these five steps below. The first […]

The Accounting Cycle


Accounting is the methods and procedures for identifying, analyzing, recording, classifying, and summarizing the financial activities to provide management and other interested parties with information. Accounting is the science of tracking money an organization. Accounting is sometimes called the language of business. An accounting system is a way of tracking […]

Accounting



Over the past several years there has been increasing interest and discussion on the topic of ethics. Business scandals are in the news more and more. Ethical behaviour is about knowing what’s right and wrong and behaving the right way, not just talking about it. Being ethical is about having […]

Business Ethics



Although there are several types of media, this discussion focuses on only four. The main types of advertising medium are newspapers, direct mail, radio, television, yellow pages, magazines, the Internet, outdoor and other types of publications. Newspapers come in several forms such as daily, community and weekly. Magazines can be […]

Advertising



The five M's of advertising are described by Philip Kotler in his book Marketing Management, Eleventh Edition (Prentice Hall). Advertising is any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor. In developing an advertising program, always start with identifying the target market […]

Five M’s of Advertising



The marketing mix is also known as the Four P’s of Marketing. Marketing objectives can be broken down into four areas: Price, Product, Place, Promotion. These are four main ingredients that make up your marketing program. To be effective, the marketing mix must follow your marketing objectives. Develop your marketing […]

Marketing Mix



Market segmentation is the process of dividing the total market into groups whose members have similar wants. Marketers don’t create market segments, they just identify them. When identifying market segments, be sure that you are not merely identifying a sector. If you segment customers based on their age and income, […]

Market Segmentation


Market A market is a group of people with unsatisfied wants and needs who are willing and able to purchase products and services. People who have unsatisfied needs are in “pain”. Marketing Strategy A marketing strategy is a process that is designed to influence an organization’s sales and those costs […]

Marketing Strategy


Marketing objectives are the planned results of marketing and selling your organization’s products and services. A business strategic planning process can be used in developing these objectives. The business objectives are derived from the business’s mission statement and the SWOT analysis. Marketing managers look for marketing opportunities that are feasible […]

Marketing Objectives



Project A project is a carefully defined endeavor that has a specific start and completion date undertaken to produce results according to the project’s objectives. Projects use resources such as people’s time and energy, money, materials, physical space and information. In the planning of a project, you will be asking […]

Project Management


This article focuses on business plans for small business startups. The first place to start when you start a new business is to write a business plan. A business plan is a document that describes the current and anticipated future activities of a business. It describes the short and long […]

Business Plans


Business, as in life, is full of uncertainty. A brief introduction to a few concepts in the world of probability will help with the understanding of other topics such as risk, insurance, marketing research and statistics. The probability of an event happening is expressed as being between zero and one, […]

Probability