Small And Medium Sized Business

Assassination and Legacy of Thomas Sankara Thomas Sankara, the former President of Burkina Faso, was assassinated on October 15, 1987, during a coup led by Blaise Compaoré. The assassination took place at a meeting of the ruling National Revolutionary Council. Sankara’s death marked the end of his presidency and the…

Advanced Performance Management: A Comprehensive Overview Advanced Performance Management (APM) is a crucial aspect of organizational management that involves applying strategic accounting techniques to enhance an organization’s performance. It encompasses a range of activities, including strategic planning, performance measurement, and evaluation. APM Syllabus and Study Resources The ACCA provides a…

Geert Hofstede’s five cultural dimensions provide a framework for understanding cultural differences across societies. These dimensions are: Key Facts Power Distance Index (PDI): This dimension measures the extent to which less powerful members of a society accept and expect power to be distributed unequally. It reflects the level of inequality…

Problem Solving in Entrepreneurship: A Comprehensive Guide Entrepreneurship is a challenging field that demands a keen ability to identify and solve problems. Successful entrepreneurs possess a unique mindset and approach to problem solving that sets them apart from others. This article explores the key principles and techniques that entrepreneurs employ…

Why Large Companies Struggle to Innovate Large, established companies often face significant challenges in fostering innovation. Despite their resources and expertise, they may encounter obstacles that hinder their ability to generate and implement new ideas. Fear of Change Successful companies can become complacent and hesitant to embrace change. They may…

Schools of Thought in Macro View of Entrepreneurship Entrepreneurship is a multidimensional field that encompasses various perspectives and theories. One way to understand entrepreneurship is through different schools of thought that provide frameworks for analyzing entrepreneurial activities. In the macro view of entrepreneurship, three prominent schools of thought emerge: the…

A point of contingency refers to an anticipated event or circumstance that poses a potential risk or uncertainty in a given situation. It is a critical consideration in planning and risk management processes. Key Facts Definition: A point of contingency is an event or circumstance that is anticipated as a…

Partnership accounting is a specialized form of accounting that focuses on the financial transactions and reporting of partnerships. A partnership is a type of business organization where two or more individuals, known as partners, share the earnings and losses that arise from business activities. Partnerships can have unlimited liability, meaning…

Business activities encompass all economic actions undertaken by a company to generate profit. These activities can be categorized into three main types: operating, investing, and financing. Each type plays a crucial role in the financial health and performance of a business. Key Facts Operating Activities: These activities are directly related…

A partnership is a legal arrangement between two or more parties (partners) who agree to cooperate in the operation of a business and share its profits and liabilities (Investopedia, n.d.). Partnerships are distinct from corporations and sole proprietorships in terms of their legal structure, liability, and tax treatment. Key Facts…

The Association of Chartered Certified Accountants (ACCA) does not impose a specific limit on the number of times a student can fail an ACCA exam. However, it is crucial to be aware of the time limits and regulations set by ACCA. Key Facts Time Limits for ACCA Exams: ACCA allows…

Invention vs. Innovation: A Comprehensive Analysis Definition Invention entails the creation of something entirely novel, such as a product, process, or technology. Innovation, in contrast, involves enhancing existing creations or discovering new applications for them. Nature Inventions are often groundbreaking and introduce something completely new to the world. Innovations build…

Episode Overview “Pilling Them Softly” is the first episode of the fourteenth season of the animated sitcom Family Guy, and the 250th episode overall. It aired on Fox in the United States on September 27, 2015. The episode was written by Hayes Davenport and directed by Jerry Langford. [1, 2]…

Effectuation is a problem-solving approach that emphasizes using available resources and networks to create new ventures rather than relying on detailed planning and market analysis. This approach is particularly relevant for veteran entrepreneurs who may have limited access to traditional funding and resources. Key Facts Bird-in-Hand Principle: Entrepreneurs start by…

Sole Proprietorship A sole proprietorship is a business owned and operated by a single person. It requires no registration, and the business owner is personally responsible for all profits, liabilities, and legal issues. Key Facts Sole Proprietorship: A sole proprietorship is a business owned and operated by a single person.…

The Minimum Number of Members Key Facts A small group requires a minimum of three people. This is because two people would be considered a pair or dyad, not a small group. The upper range of group size for a small group is contingent on the purpose of the group.…