Business Fundamentals Serve As The Foundation For All Business Pathways

925 WordsAug 23, 20164 Pages
Introduction One of the critical lessons I’ve learned in life, and it extends beyond the workplace, is the importance of knowing the fundamentals. This may seem old-fashioned or trite in the days of instant on-line information, but mastery of the fundamentals will always make getting the desired results easier. This is especially true in business; business fundamentals serve as the foundation for all business pathways. Every business requires the mastery of four basic, yet important, concepts to function and compete: capital, marketing, leadership, and people. In the world of business, these fundamentals are configured and reconfigured over and over again to satisfy the goals of successful organizations. Body Start-up costs and growth need to be funded, whether for office space, permits, licenses, inventory, product development and manufacturing, marketing or any other expense. There are several options a businesses have to obtain the necessary capital, using personal finances, otherwise known as “bootstrapping” is one of the first sources that an entrepreneur may consider using when they decide to raise capital. Money can be obtained from personal checking and savings accounts, credit cards, or retirement accounts. Although it will allow a business owner to retain total control, this option runs the risks of not only causing slow growth opportunities, but the lack of

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