This refers to the various ways by which government controls the activities of business organization to ensure social and economic order in the society. REASONS FOR GOVERNMENT REGULATION OF BUSINESS… Read More »GOVERNMENT REGULATION OF BUSINESS
DUTIES OF THE EMPLOYER To pay wages – i.e. enumeration To provide work which the employee will handle To give holidays to the employee Duty to take reasonable care for… Read More »EMPLOYER / EMPLOYEE RELATIONSHIP | DUTIES, RIGHTS
SALE OF GOODS A contract of sale of goods is a contract whereby the seller transfer the property in goods to the buyer for a money consideration called the price.… Read More »SALE OF GOODS ACT / HIRE PURCHASE ACT
An agent could belong to one of the following classification: Universal Agent – An agent given unlimited or unrestricted power to enter into any type of business contract on behalf… Read More »TYPES OF AGENTS And AUCTIONEER
Agency is the relationship which arises whenever one person (the agent) acts on behalf of another person (the principal) and has power to affect the principal’s legal position with regard… Read More »AGENCY | METHODS, DUTIES, PRINCIPLES, PARTIES, AGENTS
A Contract is an agreement between two or more parties which creates legal rights and obligations as between the parties involved. Parties to a Contract This is the identity given… Read More »Contract | Definition, Parties, Types. Elements
Public relation is the image building done by an organization to give the public favourable impression about its aims and policies. FUNCTIONS OR IMPORTANCE OF PUBLIC RELATIONS It ensures the… Read More »PUBLIC RELATIONS / CUSTOMERS SERVICES | FUNCTIONS, IMPORTANCE, MEDIA
Advertising is the branch of commerce which deals with promoting sales of goods, services or ideas through messages that are meant to inform, educate and persuade the general public by… Read More »ADVERTISING | TYPES. FACTORS, FUNCTIONS, ADVANTAGES, DISADVANTAGES
Marketing may be defined as the process of assessing consumer needs, wants, preferences and demand; designing and producing goods and services that will satisfy such wants and moving such gods… Read More »INTRODUCTION TO MARKETING | DEFINITION, FUNCTIONS, CONCEPT
ECONOMIC COMMUNITY OF WEST AFRICAN STATES (ECOWAS) ECOWAS was established on May 28th , 1975 after the treaty establishing it was signed in Lagos, Nigeria. The member countries of ECOWAS… Read More »ECONOMIC GROUPINGS IN WEST AFRICA
PRIVATIZATION Privatization is the process whereby ownership and control of the businesses, companies, industries or co-operation are transferred from the Government (public sector) to private individual (private sector) ADVANTAGES… Read More »PRIVATIZATION /COMMERCIALIZATION
INDIGENIZATION Indigenization is the policy initiated by the government to ensure and accelerate the participation of Nigerian citizens in the ownership and management of business organizations hitherto owned by foreigners.… Read More »INDIGENIZATION
NATIONALIZATION This is the taking over (or transfer of ownership) of privately owned business enterprises by the government for economic, social and political reasons. Such industries involved are known as… Read More »NATIONALIZATION
AUTHORITY Authority is defined as the right to give orders or command (directive) and enforce compliance (obedience) to the order.Authority may be used directly or delegated. Delegation of Authority:… Read More »AUTHORITY: SPAN OF CONTROL
Organizational structure is the framework by which tasks are divided, grouped and co-ordinated. It entails the division of the activities of a business organization into departments, division, units and sub-units… Read More »STRUCTURE OF A BUSINESS
DEPARTMENTS IN A BUSINESS ORGANISATION Business organizations are usually divided into different departments on the basis of their functions. The typical departments to be found in a business organization include:… Read More »DEPARTMENTS IN A BUSINESS ORGANISATION
Management has been variously defined as follows: The organ of leadership, direction and decision in a business enterprise. The process of preparing, directing, planning and organizing people and material in… Read More »MANAGEMENT OF BUSINESS
Business can be defined as the sum of all activities involved in the creation and distribution of goods and services for profit. Business management is the act of planning, organizing,… Read More »INTRODUCTION TO BUSINESS MANAGEMENT