Tag: Study

  • Most Highest Currency or Currencies Value in 2016

    Most Highest Currency or Currencies Value in 2016

    Highest currency 2016; What is Currency? A currency (from Middle English: currant, “in circulation”, from Latin: Currens, -Entis) in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation. Under this definition, US dollars, British pounds, Australian dollars, and European euros are examples of currency. These various currencies recognize stores of value and trade between nations in foreign exchange markets; which determine the relative values of the different currencies. Also, Currencies in this sense defines by governments, and each type has limited boundaries of acceptance.

    Here is the article to explain, Most Highest Currency or Currencies Value in 2016!

    Other definitions of the term “currency” discuss in their respective synonymous articles banknote, coin, and money. Also, The latter definition, about the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government’s physical metal reserves). Some currencies are legal tender in certain political jurisdictions; which means they cannot refuse as payment for the debt. Others simply traded for their economic value. Also, Digital currency has arisen with the popularity of computers and the Internet.

    Most Highest Currencies Value in 2016:

    RankCountry NameCurrency Name
    1KuwaitKuwaiti Dinar (KWD)
    2BahrainBahraini Dinar (BHD)
    3OmanOmani Rial (OMR)
    4United KingdomBritish Pound (GBP)
    5European UnionEuro (EUR)
    6SwitzerlandSwiss Franc (CHF)
    7LibyaLibyan Dinar (LYD)
    8BruneiBruneian Dollar (BND)
    9SingaporeSingapore Dollar (SGD)
    10AustraliaAustralian Dollar (AUD)

    Kuwaiti Dinar (KWD):

    The Kuwaiti dinar (Arabic: دينار‎‎, code: KWD) is the currency of Kuwait. It sub-divides into 1,000 files. Also, The Kuwaiti dinar is the world’s highest-valued currency unit.

    20th Dec. 2016 Value of Currency as dollar One Kuwaiti dinar buys US$3.26.

    Bahraini Dinar (BHD):

    The dinar (Arabic: دينار‎‎ Dīnār Baḥrēnī) (sign: .د.ب or BD; code: BHD) is the currency of Bahrain. It divides into 1000 fils (فلس). The name dinar derives from the Roman denarius. The dinar was introduced in 1965, replacing the Gulf rupee at a rate of 10 rupees = 1 dinar. Also, The Bahraini dinar abbreviates .د.ب (Arabic) or BD (Latin). It usually represents three decimal places denoting the files.

    20th Dec. 2016 Value of Currency as dollar One Bahraini dinar buys US$2.65.

    Omani Rial (OMR):

    The rial (Arabic: ريال‎‎, ISO 4217 code OMR) is the currency of Oman. It divided into 1000 baisa (also written baiza, بيسة).

    20th Dec. 2016 Value of Currency as dollar One Omani rial buys US$2.60.

    British Pound (GBP):

    A pound is a unit of currency in some nations. The term originated in Great Britain as the value of a pound (weight) of silver. The English word pound is cognate with, among others, German Pfund, Dutch pond, and Swedish pound. All ultimately derive from a borrowing into Proto-Germanic of the Latin expression lībra pondō (“a pound of weight”), in which the word pondō is the ablative case of the Latin noun pondus (“weight”). The English word “pound” first referred to a unit of mass or weight; the monetary pound originated as a pound (by weight) of silver.

    The currency’s symbol is £, a stylized representation of the letter L, standing for livre or lira. Historically, £1 worth of silver coins was a troy pound in weight; in August 2016 this amount of silver was worth approximately £170 sterling. Today, the term may refer to several (primarily British and related) currencies and a variety of obsolete currencies. Some of them, those officials in former Italian states and countries formerly belonging to the Ottoman Empire, called pound in English, while in the local languages their official name is lira.

    20th Dec. 2016 Value of Currency as dollar One British pound buys US$1.23.

    Euro (EUR):

    The euro (sign: €; code: EUR) is the official currency of the eurozone, which consists of 19 of the 28 member states of the European Union: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. The currency is also officially used by the institutions of the European Union and four other European countries; as well as unilaterally by two others and is consequently used daily by some 337 million Europeans as of 2015. Outside of Europe, several overseas territories of EU members also use the euro as their currency.

    20th Dec. 2016 Value of Currency as dollar One euro buys US$1.04.

    Swiss Franc (CHF):

    The franc (sign: Fr. or SFr. or FS; German: Franken, French, and Romansh: franc, Italian: franco; code: CHF) is the currency and legal tender of Switzerland and Liechtenstein; it is also legal tender in the Italian exclave Campione d’Italia. Also, The Swiss National Bank (SNB) issues banknotes, and the federal mint Swissmint issues coins.

    The smaller denomination, a hundredth of a franc, is a Rappen (Rp.) in German, centime (c.) in French, centesimo (ct.) in Italian, and rap (RP.) in Romansh. The ISO code of the currency used by banks and financial institutions is CHF, although “Fr.” uses by most businesses and advertisers; some use SFr.; the Latinate “CH” stands for Confoederatio Helvetica. Given the different languages used in Switzerland, Latin uses for language-neutral inscriptions on the coins.

    20th Dec. 2016 Value of Currency as dollar One Swiss Franc buys US$0.97.

    Australian Dollar (AUD):

    The Australian dollar (sign: $; code: AUD) is the currency of the Commonwealth of Australia, including Christmas Island, Cocos (Keeling) Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru, and Tuvalu. Within Australia, it is almost always abbreviated with the dollar sign ($), with A$ or AU$ sometimes used to distinguish it from other dollar-denominated currencies. Also, It is subdivided into 100 cents.

    20th Dec. 2016 Value of Currency as dollar One Australian Dollar buys US$0.72.

    Libyan Dinar (LYD):

    The dinar (Arabic: دينار‎‎) is the currency of Libya. Its ISO 4217 code is “LYD”. The dinar is subdivided into 1000 dirham (درهم). It was introduced in September 1971 and replaced the pound at par. It is issued by the Central Bank of Libya, which also supervises the banking system and regulates credit. In 1972, the Libyan Arab Foreign Bank was established to deal with overseas investment. Ali Mohammed Salem, deputy governor of Central Bank of Libya stated the exchange rate of Libyan dinar would be pegged to special drawing rights for one to three years, according to an interview with Reuters on 27 December 2011.

    20th Dec. 2016 Value of Currency as dollar One Libyan Dinar buys US$0.70.

    Singapore Dollar (SGD):

    The Singapore dollar (Malay: Ringgit Singapura, sign: $; code: SGD) is the official currency of Singapore. Also, It is normally abbreviated with the dollar sign $, or S$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.

    The Monetary Authority of Singapore and the Monetary Authority of Brunei Darussalam (Autoriti Monetari Brunei Darussalam) still maintain the historic exchangeability of their two currencies, the Singapore dollar, and the Brunei dollar, respectively. The Singapore dollar is accepted as “customary tender” in Brunei according to the Currency Interchangeability Agreement. Likewise, the Brunei dollar is customarily accepted in Singapore.

    20th Dec. 2016 Value of Currency as dollar One Singapore Dollar buys US$0.69.

    Bruneian Dollar (BND):

    The Brunei dollar (Malay: ringgit Brunei, currency code: BND), has been the currency of the Sultanate of Brunei since 1967. It is normally abbreviated with the dollar sign $, or B$ to distinguish it from other dollar-dominated currencies, It is divided into 100 sen (Malay) or cents (English).

    The Brunei dollar is managed together with the Singapore dollar at a 1:1 ratio by the Monetary Authority of Singapore (MAS). Also, Singapore is one of Brunei’s major trading partners.

    20th Dec. 2016 Value of Currency as dollar One Bruneian Dollar buys US$0.50.

    Most Highest Currency or Currencies Value in 2016 Image
    Most Highest Currency or Currencies Value in 2016; Image by Erdenebayar Bayansan from Pixabay.

    Note: All Currency is Exchanging rate valuation into US Dollar rate on 20 December 2016.

  • Nature and Characteristics of Management

    Nature and Characteristics of Management

    What is Management? Define, Management is essential for an organized life and necessary to run all types of management. Also, Good management is the backbone of successful organizations. “Management is the art of getting things done through and with people in formally organized groups.” Managing life means getting things done to achieve life’s objectives and managing an organization means getting things done with and through other people to achieve its objectives. Nature and Characteristics of Management – Goal-oriented, Universal, Integrative Force, Social Process, Multidisciplinary, Continuous Process, Intangible, and Art as well as Science. So, what we discussing is –  The Topic of is Nature and the Characteristics of Management.

    Explain, The Nature and Characteristics of Management.

    The salient features which highlight the nature of management is as follows:

    • Goal-oriented.
    • Universal.
    • Integrative Force.
    • Social Process.
    • Multidisciplinary.
    • Continuous Process.
    • Intangible, and.
    • Art as well as Science.

    Now, Explain each one;

    Management goal-oriented:

    Management is not an end in itself. It is a means to achieve certain goals. Management has no justification to exist without goals. Also, Management goals call group goals or organizational goals. The basic goal of management is to ensure efficiency and economy in the utilization of human, physical and financial resources. The success of management measure by the extent to which one of the established goals achieved. Thus, management is purposeful.

    Management is universal:

    Management is an essential element of every organized activity irrespective of the size or type of activity. Wherever two or more persons engage in working for a common goal, management is necessary. All types of organizations, e.g., family, club, university, government, army, cricket team, or business, require management. Thus, management is a pervasive activity. The fundamental principles of management are applicable in all areas of organized effort. Also, Managers at all levels perform the same basic functions.

    Management is an Integrative Force:

    The essence of management lies in the coordination of individual efforts into a team. Also, Management reconciles the individual goals with organizational goals. As the unifying force, management creates a whole that is more than the sum of individual parts. Also, It integrates human and other resources.

    Management is a Social Process:

    Management is done by people, through people, and for people. It is a social process because it is concerned with interpersonal relations. The human factor is the most important element in management. According to Appley, “Management is the development of people not the direction of things. A good manager is a leader, not a boss. It is the pervasiveness of human element which gives management its special character as a social process”.

    Management is multidisciplinary:

    Management has to deal with human behavior under dynamic conditions. Therefore, it depends upon wide knowledge derived from several disciplines like engineering, sociology, psychology, economics, anthropology, etc. Also, The vast body of knowledge in management draws heavily upon other fields of study.

    Management is a continuous Process:

    Management is a dynamic and on-going process. The cycle of management continues to operate so long as there is an organized activity for the achievement of group goals.

    Management is Intangible:

    Management is an unseen or invisible force. It cannot see but its presence can be felt everywhere in the form of results. However, the managers who perform the functions of management are very much tangible and visible.

    Management is an Art as well as Science:

    It contains a systematic body of theoretical knowledge and it also involves the practical application of such knowledge. Management is also a discipline involving specialized training and an ethical code arising out of its social obligations. Based on these characteristics, management may be defined as a continuous social process involving the coordination of human and material resources to accomplish desired objectives. It involves both the determination and the accomplishment of organizational goals.

    Question & Answers:

    • Write Nature and Characteristics of Management?
    • Write Basic Nature and Characteristics of Management?
    • What is Nature of Management?
    • What is Characteristics of Management?
    • How to Explain the Nature and Characteristics of Management?
    Nature and Characteristics of Management
    Nature and Characteristics of Management. Image credit from #Pixabay.

  • Concepts of Management

    Concepts of Management:

    The term management has been interpreted in several ways; some of which are given below:

    Management as an Activity:

    Management is an activity just like playing, studying, teaching etc. As an activity, management has been defined as the art of getting things done through the efforts of other people. Management is a group activity wherein managers do to achieve the objectives of the group.

    The activities of management are:

    • Interpersonal activities
    • Decisional activities
    • Informative activities

    Management as a Process:

    Management is considered a process because it involves a series of interrelated functions. It consists of getting the objectives of an organization and taking steps to achieve objectives. The management process includes planning, organizing, staffing, directing and controlling functions.

    Management as a process has the following implications:

    (i) Social Process: Management involves interactions among people. Goals can be achieved only when relations between people are productive. The human factor is the most important part of the management.

    (ii) Integrated Process: Management brings human, physical and financial resources together to put into the effort. Management also integrates human efforts so as to maintain harmony among them.

    (iii) Continuous Process: Management involves continuous identifying and solving problems. It is repeated every now and then till the goal is achieved.

    (iv) Interactive process: Managerial functions are contained within each other. For example, when a manager prepares plans, he is also laying down standards for control.

    Management as an Economic Resource:

    Like land, labor, and capital, management is an important factor of production. Management occupies the central place among productive factors as it combines and coordinates all other resources.

    Management as a Team:

    As a group of persons, management consists of all those who have the responsibility for guiding and coordinating the efforts of other persons. These persons are called as managers who operate at different levels of authority (top, middle, operating). Some of these managers have the ownership stake in their firms while others have become managers by virtue of their training and experience. Civil servants and defense personnel who manage public sector undertakings are also part of the management team. As group managers have become an elite class in society occupying positions with enormous power and prestige.

    Management as an Academic Discipline:

    Management has emerged as a specialized branch of knowledge. It comprises principles and practices for effective management of organizations. Management has become as a very popular field of study as is evident from the great rush for admission into institutes of
    management. Management offers a very rewarding and challenging career.

    Management as a Group:

    Management means the group of persons occupying managerial positions. It refers to all those individuals who perform managerial functions. All the managers, e.g., chief executive (managing director), departmental heads, supervisors and so on are collectively known as
    management.

    For example, when one remarks that the management of Reliance Industries Ltd. is good, he is referring to the persons who are managing the company. There are several types of managers which are listed as under.

    1. Family managers who have become managers by virtue of their being owners or relatives of the owners of a company.
    2. Professional managers who have been appointed on account of their degree or diploma in management.
    3. Civil Servants who manage public sector undertakings.

    Managers have become a very powerful and respected group in modern society. This is because the senior managers of companies take decisions that affect the lives of a large number of people. For example, if the managers of Reliance Industries Limited decide to expand production it will create the job for thousands of people. Managers also help to improve the social life of the public and the economic progress of the country. Senior managers also enjoy a high standard of living in society. They have, therefore, become an elite group in the society.

    Question & Answers:

    • Write Concepts of Management?
    • Write Basic Concepts of Management?
    • What is Concepts of Management?
    • What is Process in Management?

  • Organization in Types of Risk

    Organization in Types of Risk:

    Risk refers to sudden unplanned events which cause major disturbances in the organization and trigger a feeling of fear and threat amongst the employees.

    Organization in Types of Risk; Following are the types of Risk:

    1. Natural Risk
      • Disturbances in the environment and nature lead to natural Risk.
      • Such events are generally beyond the control of human beings.
      • Tornadoes, Earthquakes, Hurricanes, Landslides, Tsunamis, Flood, Drought all result in natural disaster.
    2. Technological Risk
      • Technological Risk arises as a result of the failure in technology. Problems in the overall systems lead to technological Risk.
      • Breakdown of machine, corrupted software and so on give rise to technological Risk.
    3. Confrontation Risk
      • Confrontation crises arise when employees fight amongst themselves. Individuals do not agree with each other and eventually depend on non-productive acts like boycotts, strikes for indefinite periods and so on.
      • In such a type of Risk, employees disobey superiors; give them ultimatums and force them to accept their demands.
      • Internal disputes, ineffective communication and lack of coordination give rise to confrontation Risk.
    4. Risk of Malevolence
      • Organizations face Risk of malevolence when some notorious employees take the help of criminal activities and extreme steps to fulfill their demands.
      • Acts like kidnapping company’s officials, false rumors all lead to Risk of malevolence.
    5. Risk of Organizational Misdeeds
      • Crises of organizational misdeeds arise when management takes certain decisions knowing the harmful consequences of the same towards the stakeholders and external parties.
      • In such cases, superiors ignore the after effects of strategies and implement the same for quick results.

    Organization in Types of Risk; A risk of organizational misdeeds can be further classified into following three types:

    • Risk of Skewed Management Values
      • A risk of Skewed Management Values arises when management supports short-term growth and ignores broader issues.
    1. Risk of Deception
      • Organizations face Risk of deception when management purposely tampers data and information.
      • Management makes fake promises and wrong commitments to the customers. Communicating wrong information about the organization and products lead to Risk of deception.
    2. Risk of Management Misconduct
      • Organizations face Risk of management misconduct when management indulges in deliberate acts of illegality like accepting bribes, passing on confidential information and so on.
    3. Risk due to Workplace Violence
      • Such a type of Risk arises when employees are indulged in violent acts such as beating employees, superiors in the office premises itself.
    4. Risk Due to Rumor’s
      • Spreading false rumors about the organization and brand lead to Risk. Employees must not spread anything which would tarnish the image of their organization.
    5. Bankruptcy
      • A Risk also arises when organizations fail to pay its creditors and other parties.
      • Lack of fund leads to Risk.
    6. Risk Due to Natural Factors
      • Disturbances in environment and nature such as hurricanes, volcanoes, storms, flood; droughts, earthquakes etc. result in Risk.
    7. Sudden Risk
      • As the name suggests, such situations arise all of a sudden and on an extremely short notice.
      • Managers do not get warning signals and such a situation is in most cases beyond any one’s control.
    8. Smoldering Risk
      • Neglecting minor issues, in the beginning, lead to smoldering Risk later.
      • Managers often can foresee Risk but they should not ignore the same and wait for someone else to take action.
      • Warn the employees immediately to avoid such a situation.

    Note: “Reading simple notes Organization in Types of Risk, also know about Risk Management and Risk Management Model“

  • Risk Management Model

    Risk Management Model:

    Risk refer to unplanned events which cause harm to the organization and lead to disturbances and major unrest amongst the employees.

    Risk gives rise to a feeling of fear and threat in the individuals who eventually lose interest and trust in the organization.

    Gonzalez-Herrero and Pratt proposed a Risk Management Model which identified three different stages of Risk management.

    According to Gonzalez-Herrero and Pratt, Risk management includes following three stages:

    • Diagnosis of Risk: The first stage involves detecting the early indicators of Risk. It is for the leaders and managers to sense the warning signals of a Risk and prepare the employees to face the same with courage and determination. Superiors must review the performance of their subordinates from time to time to know what they are up to.

    The role of a manager is not just to sit in closed cabins and shout on his subordinates. He must know what is happening around him. Monitoring the performance of the employee regularly helps the managers to foresee Risk and warn the employees against the negative consequences of the same. One should not ignore the alarming signals of Risk but take necessary actions to prevent it. Take initiative on your own. Don’t wait for others.

    • Planning: Once a Risk is being detected, Risk management team must immediately jump into action. Ask the employees not to panic. Devise relevant strategies to avoid an emergency situation. Sit and discuss with the related members to come out with a solution which would work best at the times of Risk. It is essential to take quick decisions. One needs to be alert and most importantly patient. Make sure your facts and figures are correct. Don’t rely on mere guess works and assumptions. It will cost you later.
    • Adjusting to Changes: Employees must adjust well to new situations and changes for the effective functioning of an organization in near future. It is important to analyze the causes which led to a Risk at the workplace. Mistakes should not be repeated and new plans and processes must be incorporated into the system.

    Simple Risk Management Model Chat:

    Risk Management Model Chat

    Structural Functions Systems Theory:

    According to structural functions systems theory, communication plays a pivotal role in Risk management. The correct flow of information across all hierarchies is essential. Transparency must be maintained at all levels. Management must effectively communicate with employees and provide them the necessary information at the times of Risk. Ignoring people does not help, instead, makes situations worse. Superiors must be in regular touch with subordinates. Leaders must take charge and ask the employees to give their best.

    Diffusion of innovation Theory:

    Diffusion of innovation theory proposed by Everett Rogers supports the sharing of information during emergency situations. As the name suggests during Risk each employee should think out of the box and come out with something innovative to overcome tough times. One should be ready with an alternate plan. Once an employee comes up with an innovative idea, he must not keep things to himself. Spread the idea amongst all employees and departments. Effective communication is essential to pass on ideas and information in its desired form.

    Unequal Human Capital Theory:

    An unequal human capital theory was proposed by James. According to unequal human capital theory, inequality amongst employees leads to Risk at the workplace. Discrimination on the grounds of caste, job profile as well as salary lead to frustrated employees who eventually play with the brand name, spread baseless rumors and earn a bad name for the organization.

  • What is Risk Management?

    What is Risk Management?

    Risk Management: What is Risk? A sudden and unexpected event leading to major unrest amongst the individuals at the workplace is called organization Risk. In other words, Risk is defined as an emergency situation which disturbs the employees as well as leads to instability in the organization. Risk affects an individual, group, organization or society on the whole.

    Know and Understand the Risk Management.

    Definition of Risk management: The identification, analysis, assessment, control, and avoidance, minimization, or elimination of unacceptable risks. An organization may use risk assumption, risk avoidance, risk retention, risk transfer, or any other strategy (or a combination of strategies) in proper management of future events.

    Characteristics of Risk:

    • The risk is a sequence of sudden disturbing events harming the organization.
    • Risk generally arises on short notice.
    • Risk triggers a feeling of fear and threat amongst individuals.

    Risk can arise in an organization due to any of the following reasons:

    • Technological failure and Breakdown of machines lead to Risk. Problems in the internet, corruption in the software, errors in passwords all result in Risk.
    • Risk arises when employees do not agree with each other and fight amongst themselves. Risk arises as a result of the boycott, strikes for indefinite periods, disputes and so on.
    • Violence, thefts, and terrorism at the workplace result in organization Risk.
    • Neglecting minor issues, in the beginning, can lead to major Risk and a situation of uncertainty at the workplace. The management must have complete control of its employees and should not adopt a casual attitude at work.
    • Illegal behaviors such as accepting bribes, frauds, data or information tampering all lead to organization Risk.
    • Risk arises when the organization fails to pay its creditors and declares itself a bankrupt organization.

    The art of dealing with sudden and unexpected events which disturb the employees, an organization as well as external clients refer to Risk Management.

    The process of handling unexpected and sudden changes in organizational culture is called Risk management.

    Need for Risk Management:

    • Risk Management prepares individuals to face unexpected developments and adverse conditions in the organization with courage and determination.
    • Employees adjust well to the sudden changes in the organization.
    • Employees can understand and analyze the causes of Risk and cope with it in the best possible way.
    • Risk Management helps the managers to devise strategies to come out of uncertain conditions and also decide on the future course of action.
    • Risk Management helps the managers to feel the early signs of Risk, warn the employees against the aftermaths and take necessary precautions for the same.

    What is Risk Management
    What is Risk Management? #Pixabay.

    Essential Featured of Risk Management:

    • Risk Management includes activities and processes which help the managers as well as employees to analyze and understand events which might lead to Risk and uncertainty in the organization.
    • Risk Management enables managers and employees to respond effectively to changes in the organizational culture.
    • It consists of effective coordination amongst the departments to overcome emergency situations.
    • Employees at the time of Risk must communicate effectively with each other and try their level best to overcome tough times. Points to keep in mind during Risk
    • Don’t panic or spread rumors around. Be patient.
    • At the time of Risk, the management should be in regular touch with the employees, external clients, stakeholders as well as media.
    • Avoid being too rigid. One should adapt well to changes and new situations.

    Risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities. Risk management’s objective is to assure uncertainty does not deflect the endeavor from the business goals.

    Risks can come from various sources including uncertainty in financial markets, threats from project failures (at any phase in design, development, production, or sustainment life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root-cause. There are two types of events i.e. negative events can be classified as risks while positive events are classified as opportunities.

    Several risk management standards have been developed including the Project Management Institute, the National Institute of Standards and Technology, actuarial societies, and ISO standards. Methods, definitions, and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety.

  • Types of Business

    Types of Business:

    There are three major types of businesses:

    1. Service Business

    A service type of business provides intangible products (products with no physical form). Service type firms offer professional skills, expertise, advice, and other similar products.

    Examples of service businesses are schools, repair shops, hair salons, banks, accounting firms, and law firms.

    1. Merchandising Business

    This type of business buys products at wholesale price and sells the same at retail price. They are known as “buy and sell” businesses. They make the profit by selling the products at prices higher than their purchase costs.

    A merchandising business sells a product without changing its form. Examples are grocery stores, convenience stores, distributors, and other resellers.

    1. Manufacturing Business

    Unlike a merchandising business, a manufacturing business buys products with the intention of using them as materials in making a new product. Thus, there is a transformation of the products purchased.

    A manufacturing business combines raw materials, labor, and factory overhead in its production process. The manufactured goods will then be sold to customers.

    Hybrid Business

    Hybrid businesses are companies that may be classified in more than one type of business. A restaurant, for example, combines ingredients in making a fine meal (manufacturing), sells a cold bottle of wine (merchandising), and fills customer orders (service).

    Nonetheless, these companies may be classified according to their major business interest. In that case, restaurants are more of the service type – they provide dining services.

    Forms Types of Business Organization:

    These are the basic forms of business ownership:

    1. Sole Proprietorship

    A sole proprietorship is a business owned by only one person. It is easy to set-up and is the least costly among all forms of ownership.

    The owner faces unlimited liability; meaning, the creditors of the business may go after the personal assets of the owner if the business cannot pay them.

    The sole proprietorship form is usually adopted by small business entities.

    1. Partnership

    A partnership is a business owned by two or more persons who contribute resources into the entity. The partners divide the profits of the business among themselves.

    In general partnerships, all partners have unlimited liability. In limited partnerships, creditors cannot go after the personal assets of the limited partners.

    1. Corporation

    A corporation is a business organization that has a separate legal personality from its owners. Ownership in a stock corporation is represented by shares of stock.

    The owners (stockholders) enjoy limited liability but have limited involvement in the company’s operations. The board of directors, an elected group of the stockholders, controls the activities of the corporation.

    In addition to those basic forms of business ownership, these are some other types of organizations that are common today:

    Limited Liability Company:

    Limited liability companies (LLCs) in the USA, are hybrid forms of business that have characteristics of both a corporation and a partnership. An LLC is not incorporated; hence, it is not considered a corporation.

    Nonetheless, the owners enjoy limited liability like in a corporation. An LLC may elect to be taxed as a sole proprietorship, a partnership, or a corporation.

    Cooperative:

    A cooperative is a business organization owned by a group of individuals and is operated for their mutual benefit. The persons making up the group are called members. Cooperatives may be incorporated or unincorporated.

    Some examples of cooperatives are water and electricity (utility) cooperatives, cooperative banking, credit unions, and housing cooperatives; This is simple types of business read and understanding, around world many many types of business run.

  • Arabic For Dummies

    Arabic For Dummies:

    The fast and easy way to learn to speak Modern Standard Arabic Regarded as one of the most difficult languages to learn for native English speakers, Arabic is gaining global prominence and importance.

    Loader Loading…
    EAD Logo Taking too long?

    Reload Reload document
    | Open Open in new tab

    Download

  • Introduction to e-Business Management and Strategy

    Introduction to e-Business Management and Strategy:

  • Speak Fluently English Week

    Speak Fluently English Week

    Want to speak English fluently week? This guide will show you how to achieve basic fluency in just one week through practice and hard work.

    How to Speak Fluently English in Week? 

    Now you may be thinking that learning English during the week is impossible…but with some hard work and practice, you can. This guide is your bible to learning how to speak and understand “basic” phrases so that you can carry out a conversation. This guide will not make you sufficient in every area of the English language. This takes a lot of practice. But if you follow the exercises contained within this book, you will be on your way to basic fluency!

    “This is a beginner’s guide and is not meant to teach you advanced conversational techniques.”

    English was brought to Britain from Germany and Netherlands. It originated from West Germanic Language and the Anglo-Frisian dialect. It has gone through various phases of evolution. There is the huge difference between Old English, Middle English, and Modern English. Middle English came about after the invasion of the German and the Norman’s.

    The language you are about to learn has a lot of German, Greek, Latin, Spanish, Hindi, French and Old Norse, just to name a few. It is a mix of languages. A huge number of words have originated from Greek and Latin. This eBook is based on the assumption that you are an intermediate learner and can read English. You are here because you have been trying to learn the language but cannot speak it well, or understand English speakers properly. I shall explain the fundamental principles governing the language and point out the common mistake that you should avoid. The end of each chapter will have an action you shall perform.

    Learning English involves listening, speaking, reading and writing. There are four components essential to learning English.

    Phonetics:

    Phonetics is a branch related to sound. Phonology is a branch related to the systematic organization of sounds in the English language. A phoneme is the smallest unit making up a language. The English language consists of 41 phonemes. Phonemes combine to make up words and syllables. According to Wikipedia, a phoneme can be described as “The smallest contrastive linguistic unit that may bring about a change of meaning”. Phonics is the method of teaching people to recognize different sounds.

    Reading Fluency:

    Fluency is the ability to read and speak without stopping. This means not looking at each word and trying to figure out how to read it. It should be accurate and precise.

    Vocabulary Development:

    Vocabulary is the body of words in any language. It is also the individual knowledge of words and their meanings and pronunciations. It is important to develop your vocabulary skills while learning a language. Of course, you are not expected to go through a dictionary in one day; it is a slow process.

    Oral Skills:

    Oral skills are is your ability to speak a language fluently. This requires correct pronunciations and the use of Grammar. Without development oral skills, learning a language would be utterly useless.

    “Speak Fluently English A Week? How to Learn”

    Nine Simple Method:

    English is a beautiful language. In fact, any language you decide to learn is a beautiful one. However, learning a brand new language is not always easy. Lucky for you, English is not considered to be the most difficult language! Now, if you decided to learn Chinese that would take some time. With around 430 million people around the world speaking English and these are only people with English as their first language your decision to learn it is a good one! It is considered the ‘universal language’.

    Additional tips and guides

    Speaking fluent English in just a week is quite a challenge, but with dedication and the right strategies, you can significantly improve your skills. Here are some key steps to follow:

    1. Immerse Yourself in English

    • Surround Yourself with English: Change the language on your devices and consume English media (movies, TV shows, music, and podcasts).
    • Engage in English Conversations: Find language exchange partners or speak with friends and family who are fluent in English.

    2. Practice Speaking Daily

    • Set Practice Sessions: Dedicate at least an hour each day to speak in English.
    • Record Yourself: Record your speech to track progress and identify areas for improvement.

    3. Expand Your Vocabulary

    • Learn New Words Daily: Aim to learn at least 10-20 new words each day. Use flashcards to help memorize them.
    • Use New Words in Sentences: Try to use newly learned words in your conversations or writing.

    4. Improve Pronunciation

    • Practice Phonetics: Focus on the correct pronunciation of words. Use online resources or apps that provide pronunciation guides.
    • Mimic Native Speakers: Listen to native speakers and try to mimic their intonation and pronunciation.

    5. Engage with English Content

    • Read Aloud: Read books, articles, or any content out loud to practice speaking.
    • Watch with Subtitles: Watch English shows or movies with subtitles to enhance your listening and understanding.

    6. Seek Feedback

    • Get Feedback from Fluent Speakers: Ask friends or teachers to provide constructive feedback on your speaking skills.
    • Self-Assessment: Regularly assess your progress and set achievable goals.

    7. Stay Positive and Confident

    • Avoid Perfection: Don’t worry about making mistakes. Focus on communication rather than perfection.
    • Stay Motivated: Maintain a positive attitude and remind yourself of your goals and achievements.

    By following these steps and committing to regular practice, you can make noticeable improvements in your English fluency within a week. Good luck!

    Note: So why waiting for, go get learn and speak fluently English week. One thing remember doesn’t care about mistake because it is human nature without mistake we did it best.