When the owner of goods (the bailor) gives them to another party (the bailee) for a specific purpose, with the understanding that the goods will be returned or otherwise disposed of once the purpose has been completed, this is referred to as Bailment. As security for a debt or obligation, the bailor (the pledgor) delivers … Read more
The economic environment refers to the nature and direction of the economy in which a firm competes or may compete. In general, firms seek to compete in a relatively stable economy with strong growth potential. It is the most important environmental component of a business. The components of the economic environment are: Economic System An … Read more
In order to interpret and enforce laws, settle conflicts, and maintain justice, Court system is a hierarchical structure of judicial institutions. In order to uphold the rule of law and guarantee equitable treatment under legal frameworks, it is essential. Court Courts are institutions established by law to solve legal dispute impartially after followed the procedures … Read more
The framework of laws, rules, and legal systems that affect businesses and make sure they function morally and within the law is known as the legal environment. It covers topics like consumer protection, employment law, contracts, and environmental regulations. A subset of the legal environment, Business law is concerned with the laws and rules that … Read more
Business is any activity related to the production and distribution of products and services. Businesses are always changing and are affected by many things around them, such as society, economy, government, laws, culture, and technology. These things can be unpredictable and can impact how a business operates, so businesses need to be able to adapt … Read more
A collection of integrated software programs and technologies known as a Hospitality Information System (HIS) is intended to manage and optimize operations in the hospitality sector, which includes lodging facilities, dining establishments, resorts, and other service-oriented enterprises. Introduction to Hospitality Information System Characteristics of Hospitality Information System (HIS) Hospitality is a diverse field which is … Read more
Electronic commerce, commonly known as E-Commerce consists of the buying and selling of products and services over electronic systems such as the Internet and other computer networks.For most companies today Electronic -commerce is more than just buying and selling products online.It encompasses the entire online process of developing , marketing, selling, delivering, servicing, and paying … Read more
Electronic Data Interchange (EDI) The Role of Supply Chain Management (SCM) Supply chain management (SCM), which optimizes the flow of products, services, information, and funds, is essential to the seamless operation of e-businesses. In e-business, SCM plays the following crucial roles: Inventory Management It guarantees that stock levels are tracked in real time and optimized … Read more
Meaning of Enterprise Resource Planning (ERP) Enterprise Resource Planning (ERP) is a kind of software that businesses use to integrate and manage the fundamental operations processes. Accounting, supply chain management, human resources, inventory management, customer relationship management, and other domains are all included in these procedures. Benefits of Enterprise Resource Planning (ERP) ERP systems can … Read more
E-Business System – Cross functional Enterprise Applications E-Business System – Enterprise Application Architecture E-Business System – Enterprise Application Integration E-Business System – Transaction Processing System Transaction Processing Cycle Transaction processing is of several basic activities. E- Business System – Enterprise Collaboration Systems Tools for Enterprise Collaboration Functional Business System Marketing system Some of the marketing … Read more