Commerce

Commerce (SS)

ECOWAS, Niger Basin Commission & Lake Chad Basin Commission

Economic Groupings in West Africa ECOWAS ECOWAS, which stands for the Economic Community of West African States, is a regional intergovernmental organization encompassing 15 countries in West Africa. Established on May 28, 1975, with the signing of the Treaty of Lagos, ECOWAS was formed with the overarching goal of promoting economic integration, political cooperation, and […]

ECOWAS, Niger Basin Commission & Lake Chad Basin Commission Read More »

Commerce (SS)

Capital Market, Stock Exchange & Second Tier Securities Market

Capital Market Capital Market refers to a platform designed for obtaining medium and long-term loans. Its primary purpose revolves around catering to the financial requirements of industries and the commercial sectors. Within this realm, it encompasses all establishments involved in either facilitating the supply of or catering to the demand for extended-duration loans. The overarching

Capital Market, Stock Exchange & Second Tier Securities Market Read More »

Commerce (SS)

Indigenization | Meaning, Advantages, Disadvantages & Reasons

Meaning of Indigenization Indigenization refers to a government policy aimed at promoting and increasing the involvement of Nigerian citizens in the ownership and management of business organizations previously owned by foreigners. The objective is to transfer ownership of certain foreign businesses operating in Nigeria to indigenous entrepreneurs, thereby reducing foreign control over the economy. In

Indigenization | Meaning, Advantages, Disadvantages & Reasons Read More »

Commerce (SS)

Deregulation | Meaning. Advantages, Disadvantages & Reasons

Meaning of Deregulation Deregulation, a multifaceted and often contentious policy approach, signifies the deliberate and systematic dismantling or relaxation of government-imposed regulations within a designated industry or sector of the economy. These governmental regulations encompass a wide spectrum of controls, encompassing measures such as price controls, entry barriers, quality standards, and numerous others, all intended

Deregulation | Meaning. Advantages, Disadvantages & Reasons Read More »

Commerce (SS)

Privatization | Meaning, Advantages, Disadvantages & Reasons

MEANING OF PRIVATIZATION Privatization, a multifaceted economic concept, encapsulates the intricate transformation of ownership and governance structures within various sectors of an economy. This comprehensive phenomenon encompasses the systematic shift of assets, businesses, companies, industries, or cooperative entities away from the domain of public control, typically vested in government entities, towards the realm of private

Privatization | Meaning, Advantages, Disadvantages & Reasons Read More »

Commerce (SS)

Commercialization | Meaning, Advantages, Disadvantages & Reasons

Meaning of Commercialization Commercialization, in essence, represents a fundamental shift in the operational ethos of government enterprises. It marks a strategic transformation from a predominantly service-driven orientation to one that is firmly profit-centric. This metamorphosis is emblematic of a dynamic process where the core objectives and motivations guiding these enterprises evolve significantly. At its core,

Commercialization | Meaning, Advantages, Disadvantages & Reasons Read More »

Commerce (SS)

Business Documents | Quotation, Price List, Receipt, Invoice, Order

When business transactions occur, certain documents are drawn up and passed from one person to another. These documents are used to effect transactions between buyers and sellers. The documents are explained below; TRADE JOURNAL: This is a publication devoted to a particular branch of retail and wholesale trade. It contains articles on matters of interest

Business Documents | Quotation, Price List, Receipt, Invoice, Order Read More »

Commerce (SS)

Consumer Protection | Basis, Consumer Rights, Functions

A consumer refers to an individual who utilizes goods and services for their final purposes. Protection, in this context, signifies safeguarding. Consumer protection is a concept encompassing diverse strategies employed by both governmental bodies and private entities. Its objective is to prevent consumers from being deceived by producers and intermediaries, while also ensuring that consumers

Consumer Protection | Basis, Consumer Rights, Functions Read More »

Commerce (SS)

Introduction to Business Management | Resources, Functions & Departments

Meaning of Business: Business refers to the organized effort of individuals to produce, sell, or buy goods and services with the aim of generating a profit. It involves various activities such as production, marketing, sales, finance, and operations, all geared towards achieving financial success and sustaining the enterprise. Meaning of Management: Management involves the coordination

Introduction to Business Management | Resources, Functions & Departments Read More »

Commerce (SS)

Business Structure & Organizational Structure

Structure of Business A business structure refers to the legal and organizational framework within which a business operates. It determines how the business is organized, managed, and owned. Different business structures have varying implications for factors such as taxation, liability, decision-making, and overall operational flexibility. The choice of the business structure depends on the nature

Business Structure & Organizational Structure Read More »

Commerce (SS)

Business Law & Contracts

Business Law Business law encompasses all aspects of legal regulations governing business transactions. Business laws consist of a set of rules that oversee business transactions. These rules pertain to the functioning of business activities. Categories of Commercial Law. The different branches of commercial law include: Law of Contract. Agency Sales of goods. Law of Employment.

Business Law & Contracts Read More »

Commerce (SS)

Business Capital | Capital, Credit, Profits, Turnover, Hire purchase

Capital Certainly! The term “capital” has different meanings and implications depending on the context in which it is used, such as economics, accounting, and in everyday language. Economics Definition: In economics, “capital” refers to the assets, resources, or financial wealth that can be used to generate income or production. It can be broadly categorized into

Business Capital | Capital, Credit, Profits, Turnover, Hire purchase Read More »

Commerce (SS)

PARTNERSHIP: TYPES, ORDINARY PARTNERSHIP & LIMITED PARTNERSHIP

TYPES OF PARTNERSHIP There are two main types of partnership business namely: Ordinary Partnership (or General partnership) The Limited Partnership THE ORDINARY PARTNERSHIP (GENERAL PARTNERSHIP) Characteristics or features: Membership/Number of partners: May consist of between 2 to 20 persons. However by the companies Act 1967 this restriction of not more than 20 persons no longer

PARTNERSHIP: TYPES, ORDINARY PARTNERSHIP & LIMITED PARTNERSHIP Read More »

Commerce (SS)

BUSINESS UNITS & SOLE PROPRIETORSHIP

Business units can be divided into two broad classes namely, the private sector or private enterprise and the public sector or public enterprise. The private sector or enterprise is made up of all the business enterprises owned and controlled by private individuals whereas the public sector or enterprise covers all enterprises owned and controlled by

BUSINESS UNITS & SOLE PROPRIETORSHIP Read More »

Division of Labor

What is Division of Labor? Division of Labor is a fundamental concept that involves the systematic breakdown of complex production processes into various distinct stages, with each stage being assigned to a specialized individual or group. This approach allows for the efficient allocation of resources, skills, and expertise, resulting in improved productivity and overall output.

Division of Labor Read More »

Small Scale Retailing

WHAT IS SMALL-SCALE RETAILING? Small-scale retailing refers to the business activities involved in selling goods or services directly to consumers on a relatively small scale. It typically involves operating a small retail store or shop, often owned and managed by individuals or small business owners. Small-scale retailers serve local communities and cater to the needs

Small Scale Retailing Read More »

Large Scale Retailing

TYPES OF LARGE-SCALE RETAILING IN THE UNITED STATES  MULTIPLE SHOPS OR CHAIN STORES Multiple shops or chain stores refer to a business model where a company operates multiple retail locations or stores under the same brand name. These stores are typically spread across different geographic locations, allowing the company to reach a larger customer base.

Large Scale Retailing Read More »

Get Fully Funded Scholarships

Free Visa, Free Scholarship Abroad

           Click Here to Apply

Acadlly