Business Essentials

Without strong fundamental elements like structure and plan, a business will never move from concept to successful real-world organization.
Business essentials include all of the elements that contribute to the success or failure of a business. Learn about business plans, models, and the fundamentals that are key to success.

Explore Business Essentials

Early factory workers in America.
International Workers' Day (Labor Day)
Downtown Austin fireworks
Why Silicon Valley Companies Are Moving to Texas
Photograph of soldiers with guns on train during 1894 Pullman Strike
The 10 Biggest Strikes In U.S. History
Absolute vs. Comparative Advantage: What’s the Difference?
business meeting in a conference room
Agency Theory: Definition, Examples of Relationships, and Disputes
Woman in discussion with a financial advisor in an office
Commission: Definition and Examples, Vs. Fees
Economies of Scale
Economies of Scale: What Are They and How Are They Used?
Businesswoman going over finances in an office
Expense: Definition, Types, and How Expenses Are Recorded
Green-Field Investment
What Are Interest Rates?
Interest Rates: Different Types and What They Mean to Borrowers
Intermediate Good: Definition and Examples
Liability Definition
Liability: Definition, Types, Example, and Assets vs. Liabilities
aerial view of Hong Kong
Limited Liability Definition: How It Works in Corporations and Businesses
Perfect Competition
Perfect Competition: Examples and How It Works
A woman in a green shirt uses a credit card to shop on her laptop while she sits in a coffee shop
Transaction
CIF vs. FOB: What's the Difference?
financial stock market graph chart of stock market investment trading
The Difference Between Revenue and Cost in Gross Margin
Affiliate: Definition in Corporate, Securities, and Markets
Brick-and-Mortar Stores: Types, Advantages, and Disadvantages
Code of Ethics
Code of Ethics: Understanding Its Types, Uses Through Examples
Young business colleagues in a boardroom talking and smiling
Core Competencies in Business: Finding a Competitive Advantage
Corporate Culture
Corporate Culture Definition, Characteristics, and Importance
close up focus on call center headset device headset VOIP system with telephone answer machine technology at operation office desk for hotline telemarketing and network operator concept
What Is Customer Service, and What Makes It Excellent?
Ex Works
Ex Works (EXW) Defined, Pros and Cons, Plus More Incoterms
Feasibility Study
Feasibility Study
4 Ps of Marketing
The 4 Ps of Marketing and How To Use Them in Your Strategy
Internal Control
Internal Controls: Definition, Types, and Importance
Interpersonal Skills
How to Use Interpersonal Skills to Get and Keep a Job
Time
Lead Time: Definition, How it Works, and Example
Management by Objectives
Management by Objectives (MBO): Learn Its 5 Steps, Pros and Cons
Pedestrians walk past Old Navy and GAP stores in Times Square
Manufacturer's Suggested Retail Price (MSRP): Meaning
Market Share
Market Share: What It Is and the Formula for Calculating It
Non-Disclosure Agreement (NDA)
Non-Disclosure Agreement (NDA) Explained, With Pros and Cons
Opportunity Cost Definition
Opportunity Cost Formula, Calculation, and What It Can Tell You
Outsourcing
Outsourcing: How It Works in Business, With Examples
shop owner repairing bike
Payment-in-Kind (PIK): What It Is, How It Works, Pros and Cons
Price Discrimination
What Is Price Discrimination, and How Does It Work?
Quasi Contract
Quasi Contract
Research and Development
Research and Development (R&D) Definition, Types, and Importance
Request for Proposal
RFP: What a Request for Proposal Is, Requirements, and a Sample
Social Responsibility in Business
Social Responsibility in Business: Meaning, Types, Examples, and Criticism
Process
Standardization
Total Quality Management
What Is Total Quality Management (TQM), and Why Is It Important?
Value-Added Product: What It Means in Industry and Marketing
Value Chain
Value Chain: Definition, Model, Analysis, and Example
Value Proposition
Value Proposition: How to Write It With Examples
Large cranes unloading a container ship at a port.
How Can I Obtain a Telex Release for a Bill of Lading?
Equity finance
Should a Company Issue Debt or Equity?
Net Present Value
Present Value vs. Net Present Value: What's the Difference?
How Do Modern Corporations Deal With Agency Problems?
Businessman Giving a Presentation to His Team
Brownfield Investment: Definition, Advantages, Vs. Greenfield
Credit Enhancement: Definition, Benefits, Techniques
Shipping containers at a dock and a global map showing destinations
Incoterms Explained: Definition, Examples, Rules, Pros & Cons
Operating Lease
Operating Lease: How It Works and Differs From a Finance Lease
A man placing a proxy ballot in a box
Proxy Fight: Definition, Causes, What Happens, and Example
What Is Accumulation? How It Works in Finance and Example
Enterprise Risk Management (ERM): What Is It and How It Works
Identifying and Managing Business Risks
A business team discusses a business plan with diagrams, documents and digital devices in the office.
What Does the FIG at an Investment Bank Mean?
Articles of Association
Articles of Association Definition and Example in Small Business