Business is the interdependence of functions within an organisation to achieve objectives. Broadly speaking, these functions are:
- Finance
- Human Resources
- Marketing
- Operations
However, business is not a broad field. It is very dynamic and involves many disciplines. It encompasses disciplines such as Accounting, Information Technology, Logistics, Manufacturing and many more. The organisation does not need to be for-profit, but it still needs to consider the key business functions for approaching its objectives efficiently and effectively.
In this thread you can discuss all matters regarding business. If you are struggling with a concept related to business, want to learn more about stock markets or whatever it is that regards business, then this thread would be an excellent place to post in. I am a university student of Business and Commerce and there are other members here who are or have studied business, so here you can seek informed opinions on such matters (no guarantee that we would be right though).
Suitable topics of discussion can include but are not limited to:
- Accounting
- Economics (Microeconomics is very relevant to business theory)
- Finance (such as discussion of stock markets)
- Manufacturing
- Logistics
- Sales and Marketing
- Human Resources Management
- Information Technology (if it is relevant to business)
- International Business
- Want to start your own business and are looking for advice, or have anything that you feel like sharing? That's cool as well
Don't hesitate to post, no question is stupid.
Awesome. I've got to choose my subjects for my last 2 years of school next week, pretty confident that I'm going to do Commerce. yay
[editline]1st August 2013[/editline]
Oh cool, 1.5k posts.
how serious is serious business
[editline]1st August 2013[/editline]
but yeah i want to start making dog houses,how could i advertise
i am currently continuing my arch studies along with personal studies as well but i need to start doing projects
i just need money to spends which i am afraid of
Local supermarkets charge nothing (helping the community) or very little to advertise on their notice boards.
[QUOTE=nick_9_8;41671001]Awesome. I've got to choose my subjects for my last 2 years of school next week, pretty confident that I'm going to do Commerce. yay
[editline]1st August 2013[/editline]
Oh cool, 1.5k posts.[/QUOTE]
You should consider doing Business Studies as well, it was definitely one of my favourite subjects.
[editline]1st August 2013[/editline]
[QUOTE=arimi;41671015]how serious is serious business
[editline]1st August 2013[/editline]
but yeah i want to start making dog houses,how could i advertise
i am currently continuing my arch studies along with personal studies as well but i need to start doing projects
i just need money to spends which i am afraid of[/QUOTE]
I honestly don't have much of an idea. However if you are serious about it I think the best advertising you'll get is from word of mouth. If you have like fairs / festivals / markets or things like that where you live I think you could give it a go trying to sell your stuff there. Also don't underestimate the usefulness of social networks like Facebook; a chick I knew from school recently started offering dancing lessons and made a Facebook page for it and she already got several hundred likes for it, not that likes actually matter for it, but what matters is she got a bit of attention for it.
I work in the Finance department of my local city. It's quite an interesting place because we are one of the most essential departments in the entire city. Think of us as the bloodflow of the city; we're constantly keeping the balance of money by moving funds to and from accounts, while also taking in revenue from other services and such.
I do occupational tax; which is essentially the more proper term for business licensing. So anyone that wants to do business in this city has to come to me and meet the requirements set fourth by our city's ordinances, as well as state and federal laws. It's quite interesting and to be entirely honest--fun. Every now and again I get a jerk or someone that wants to be "that guy" who feels they are above the law. So I usually treat them with a nice visit from our local law enforcement who then gives out a heavy citation.
i started a business selling marijuana and crack cocaine at the nearby library. what is the best method for marketing my business?
[QUOTE=yawmwen;41672544]i started a business selling marijuana and crack cocaine at the nearby library. what is the best method for marketing my business?[/QUOTE]
Advertising is everything. Also try not to undercut the competition it can end poorly.
[QUOTE=yawmwen;41672544]i started a business selling marijuana and crack cocaine at the nearby library. what is the best method for marketing my business?[/QUOTE]
I'm not sure a library is the best market for the products you move. Perhaps try a junior high school or housing projects. You'll get some repeat customers there, and word of mouth will sell and advertise the product itself.
[editline]1st August 2013[/editline]
I've been playing around with the idea of starting a drop shipping business myself. Just need more info on what you actually need legally to start a business.
Yay this is up! I'm excited to start my second year of my commerce degree in September. Hoping to gain a lot more knowledge and experience during the year.
Just finished my second year of a business degree, currently on an industrial placement in a finance department for a large energy company. Happy to answer questions about business placements
Anyone know much about making money with informal tutoring of kids?
[QUOTE=DainBramageStudios;41679175]Anyone know much about making money with informal tutoring of kids?[/QUOTE]
well you first need to find some kids, and also know something useful. i'm still working on the first one but the police keep kicking me out of the playground.
I'm thinking about buying a house and renting it out next year
I'm studying Marketing with a interest in International Marketing.
I'm going to be studying abroad in Japan for 8 months starting the 28th of this month. Looking forward to learning Japanese business.
[QUOTE=jaredop;41679601]I'm thinking about buying a house and renting it out next year[/QUOTE]
I have a friend at uni who actually does something similar to this. He'd buy property and re-develop it to make a block of apartments and rent them out, or at least something along those lines. Crazy as he is only 23 yet able to do stuff like that. Or he might have just been bullshitting about it, don't know. But he's already secured a full-time job at an accounting firm so he's pretty well off and I wouldn't be surprised if he was actually capable of that.
Welp, here goes.
Last week i've launched my first clothing brand. I've become focused on marketing it, but I am trying to get as many people looking at my stuff as possible. I've bought buttons and stickers, and i'm planning on going to NYC and sticking stickers up everywhere where people usually commute. I'm also on social media (Facebook, Instagram.)
What are some good ways to market my clothing brand besides these?
Also, in all seriousness, Critique would be nice. I don't know if i'm going to get banned for this but if you guys want, just let me know what you guys think of my designs. (idk if this is counted as self-premoting your shit, which im pretty sure is against the rules, but i'm really just looking on ways that I can improve)
[url]www.cetitoff.com[/url]
[QUOTE=shingda;41681190]Welp, here goes.
Last week i've launched my first clothing brand. I've become focused on marketing it, but I am trying to get as many people looking at my stuff as possible. I've bought buttons and stickers, and i'm planning on going to NYC and sticking stickers up everywhere where people usually commute. I'm also on social media (Facebook, Instagram.)
What are some good ways to market my clothing brand besides these?
Also, in all seriousness, Critique would be nice. I don't know if i'm going to get banned for this but if you guys want, just let me know what you guys think of my designs. (idk if this is counted as self-premoting your shit, which im pretty sure is against the rules, but i'm really just looking on ways that I can improve)
[url]www.cetitoff.com[/url][/QUOTE]
Good ways to get noticed are talking to Online Retailers and seeing if they'd be willing to sell your shirts. (Ex, [url]www.Jackthreads.com[/url] , [url]www.karmaloop.com[/url] , etc)
[QUOTE=shingda;41681190]Welp, here goes.
Last week i've launched my first clothing brand. I've become focused on marketing it, but I am trying to get as many people looking at my stuff as possible. I've bought buttons and stickers, and i'm planning on going to NYC and sticking stickers up everywhere where people usually commute. I'm also on social media (Facebook, Instagram.)
What are some good ways to market my clothing brand besides these?
Also, in all seriousness, Critique would be nice. I don't know if i'm going to get banned for this but if you guys want, just let me know what you guys think of my designs. (idk if this is counted as self-premoting your shit, which im pretty sure is against the rules, but i'm really just looking on ways that I can improve)
[url]www.cetitoff.com[/url][/QUOTE]
Maybe go to Times Square while you're there and hand out/sell at discount shirts with fliers. Just get as many people wearing your shirts as possible. Walking advertisement. Don't know if you need a permit for that sort of thing, probably considering it's New York.
How's Shopify to work with?
It's always a good idea to brainstorm venture ideas, so I wanted to post my latest one here. If you guys have the time to give questions about the idea or critiques, please feel free.
So my latest idea would be to have a "University Thrift Store", which is basically where university students (at the start just the one I attend) can bring in their items and we resell them. Usually what happens (with companies like Value Village) is that clothes and other items are given in for free as there is usually a charity involved. However, I was thinking of doing it a little differently - the person bringing items in would pay a small cost for each item (so it can be cleaned and properly prepared for resale), and they would get a certain percentage of the revenue generated from selling it. If possible, I would make it so the person bringing items in would always make a profit, in order to make them happy (however it would be difficult to keep my side profitable in some cases).
Do you guys see any big holes in this idea? In my opinion, I think it has potential to be popular within the student community, because students are always looking to make money. On the flip side, having a place to buy cheap clothing for wear is a huge plus as well.
[QUOTE=Prez;41682388]It's always a good idea to brainstorm venture ideas, so I wanted to post my latest one here. If you guys have the time to give questions about the idea or critiques, please feel free.
So my latest idea would be to have a "University Thrift Store", which is basically where university students (at the start just the one I attend) can bring in their items and we resell them. Usually what happens (with companies like Value Village) is that clothes and other items are given in for free as there is usually a charity involved. However, I was thinking of doing it a little differently - the person bringing items in would pay a small cost for each item (so it can be cleaned and properly prepared for resale), and they would get a certain percentage of the revenue generated from selling it. If possible, I would make it so the person bringing items in would always make a profit, in order to make them happy (however it would be difficult to keep my side profitable in some cases).
Do you guys see any big holes in this idea? In my opinion, I think it has potential to be popular within the student community, because students are always looking to make money. On the flip side, having a place to buy cheap clothing for wear is a huge plus as well.[/QUOTE]
I don't think that way of going about it would work out. For one, you're charging someone to sell something to you which seems a bit silly, and what if what they give to you doesn't sell? Yes they would get money if the good sells, but what if it doesn't? Also, if you give them a certain percentage of the revenue after it sells, that means you need to keep records of everyone who supplies you and you also need to find a method to pay them back. Most people do, but I don't think everyone would have a bank account to transfer money to.
The best way to go about it is the typical way businesses already go about it, which is offering the supplier the cash straight away. That way you don't have to keep records of all your suppliers, they (your suppliers) get their cash straight away and don't have to worry if what they give you will sell or not. You will need a bit of start up cash so you can clean and prepare the goods you are given before you have your first sales (and to set up a medium of sale), but all businesses need start up cash anyways so that is irrelevant.
[editline]2nd August 2013[/editline]
But the most important thing is that you don't want to charge your suppliers to supply you. That's just going to look heaps unattractive, especially with your idea where there would be no guarantee that they receive a return.
Anyone know of good stocks within a 7 - 15 dollar range? Just starting out, so I'm somewhat limited in what I buy.
I happened to buy 14 shares at 29.48. Is a target of 32 dollars reasonable to sell at or am I going down with the ship?
I know that the industry they're dealing with, while not dead, is far from healthy, but it's a pretty massive company. So an eventual rebound isn't out of the question.
[QUOTE=Incoming.;41685430]I happened to buy 14 shares at 29.48. Is a target of 32 dollars reasonable to sell at or am I going down with the ship?
I know that the industry they're dealing with, while not dead, is far from healthy, but it's a pretty massive company. So an eventual rebound isn't out of the question.
EDIT:
Oh god -0.43 cents... This might be more than a month to get out of...[/QUOTE]
What company did you buy shares in? Also if you are not confident in a business that you are thinking of investing in, you shouldn't invest in it. You should only really be investing after thoroughly analysing their published financial reports (identifying trends is very important, especially in liquidity and solvency) and reading up on all recent announcements done by the company, try to understand them. Never buy shares simply because they look cheap.
[editline]3rd August 2013[/editline]
If you were heaps dedicated (you probably should be if you do invest) you should create [url=http://www.investopedia.com/terms/c/commonsizefinancialstatement.asp]common size statements[/url] if the company has not done so already (I don't think in too many places around the world that they a standard, but I think some companies do create them to compare periods of time). Oh yeah, investopedia is a pretty useful site and I'd suggest that all of you check it out.
[QUOTE=Antdawg;41685706]What company did you buy shares in? Also if you are not confident in a business that you are thinking of investing in, you shouldn't invest in it. You should only really be investing after thoroughly analysing their published financial reports (identifying trends is very important, especially in liquidity and solvency) and reading up on all recent announcements done by the company, try to understand them. Never buy shares simply because they look cheap.[/QUOTE]
Oh, forgot to put in the name of the stock. It was POTash, which I feel confidant will [I]eventually[/I] rebound a bit, but what I've recently come to be concerned by is a massive sell-off. The stock had the appearance of a slow climb initially, but it dropped 40 cents. I do understand their industry is in trouble, and from averaging out two credit ratings it was a target price of 38. Personally, I believe it's only going to 33 dollars, so my target to sell is 32.
Pretty much what I'm asking would be another opinion whether I should buy even more of the stock, or other ones that are interesting.
[QUOTE=Incoming.;41685829]Oh, forgot to put in the name of the stock. It was POTash, which I feel confidant will [I]eventually[/I] rebound a bit, but what I've recently come to be concerned by is a massive sell-off. The stock had the appearance of a slow climb initially, but it dropped 40 cents. I do understand their industry is in trouble, and from averaging out two credit ratings it was an average target price of 38. Personally, I believe it's only going to 33 dollars, so my target to sell is 32.
Pretty much what I'm asking would be another opinion whether I should buy even more of the stock, or other ones that are interesting.[/QUOTE]
Stocks are fairly voiltile short term, if you're confident about your investment, you should probably just ignore short term losses (if they're not too serious), and see if there are potential long term gains from previous tends.
[QUOTE=OvB;41681623]Maybe go to Times Square while you're there and hand out/sell at discount shirts with fliers. Just get as many people wearing your shirts as possible. Walking advertisement. Don't know if you need a permit for that sort of thing, probably considering it's New York.
How's Shopify to work with?[/QUOTE]
Shopify makes creating an online store a very, VERY easy thing. The only thing I paid for was my domain, and a 30 dollar a month charge to use shopify. This means i get everything I need, and they take 2.0% of my sales. However, if you buy the more expensive shopify plan, they take that away. Honestly I dont mind paying because of how simple they make everything, for people who dont have the money or expertise to have a store made/code one. Everything is wonderfully simplified for your average start up business guy.
[QUOTE=Incoming.;41685430]Anyone know of good stocks within a 7 - 15 dollar range? Just starting out, so I'm somewhat limited in what I buy.
I happened to buy 14 shares at 29.48. Is a target of 32 dollars reasonable to sell at or am I going down with the ship?
I know that the industry they're dealing with, while not dead, is far from healthy, but it's a pretty massive company. So an eventual rebound isn't out of the question.[/QUOTE]
If you can't spot the sucker, it's you. Don't put money in stocks unless you've heavily researched what the market in the particular niche is doing.
[editline]2nd August 2013[/editline]
If you want to ease into investment then put your money into some mutual fund first.
[QUOTE=DainBramageStudios;41686905]If you can't spot the sucker, it's you. Don't put money in stocks unless you've heavily researched what the market in the particular niche is doing.
[/QUOTE]
I have researched it, and know the niche, but I was asking for another opinion on the matter. Although it was badly worded and it sounded like I did next to no research.
I was surprised by today's drop, but whether or not this stock in particular will be hit downward by large sellouts is the concern, and I was mostly asking if a 32 dollar target was reasonable/in the near future for anyone who was following the situation.
[QUOTE=Incoming.;41687652]I have researched it, and know the niche, but I was asking for another opinion on the matter. Although it was badly worded and it sounded like I did next to no research.
I was surprised by today's drop, but whether or not this stock in particular will be hit downward by large sellouts is the concern, and I was mostly asking if a 32 dollar target was reasonable/in the near future for anyone who was following the situation.[/QUOTE]
Just took a look at their stocks, too volatile for me to invest in it long term.
Overall trend since 2011 for the POT is slightly bearish, while the DOW, NASDAQ, and S&P500 has all been bullish.
I'm too unfamiliar with their stock to know how good a short term investment would be.
I'm 17 and I run a business selling hats and scraps in TF2.
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