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Essay on Business-Types, Importance & Advantages of Business

Business refers to a vital economic activity in our life. It concerns itself with producing, buying, processing and selling products for a regulated profit margins. The following Essay tells you the concept and importance of business, Types of business & its advantages for a country. This essay is truly helpful for school and college students, for school exams, assignments etc.

Essay on Business | Concept, Meaning, Importance, Types & Advantages of Business Essay

Business is defined as the activity of making one’s living or making money by producing or buying and selling products (such as goods and services). It is an organized activity through which individuals, groups or organizations produce and exchange tangible and intangible goods and services to create value for themselves or others. Businesses can be either for-profit entities or not-for-profit organizations.

Importance of Business

There are many reasons why business is important. One of the most obvious reasons is that businesses create jobs. They also generate tax revenue for the government, which helps to fund important programs and services. Businesses play a key role in the economy by providing goods and services to consumers. They also help to spur innovation and new ideas, which can lead to economic growth. Finally, businesses can be a source of social good, by providing goods and services that improve the quality of life for people in their community.

>>> Read Also : ” Short Paragraph On Unemployment”

Different Types of Business

There are many different types of businesses, but some of the most common include:

1. Small businesses: These are businesses that have a small number of employees and typically generate less revenue than larger businesses.

2. Medium-sized businesses: These are businesses that have a medium number of employees and generate more revenue than small businesses, but less than large businesses.

3. Large businesses: These are businesses that have a large number of employees and generate the most revenue of all business sizes.

4. For-profit businesses: These are businesses that are in the business of making a profit. They typically generate revenue by selling goods or services to consumers.

5. Not-for-profit businesses: These are businesses that are not in the business of making a profit. They typically generate revenue by receiving donations from individuals or organizations.

Advantages of Business

There are many advantages to doing business. Some of the most notable include:

1. Businesses Can Create Jobs: By starting or expanding a business, you can create new jobs for people in your community. This helps to boost the local economy and improve the quality of life for people in your community.

2. Businesses generate tax revenue: Businesses generate tax revenue for the government, which helps to fund important programs and services.

3. Businesses spur innovation: By starting or expanding a business, you can help to spur innovation and new ideas in your community. This can lead to economic growth and improve the quality of life for people in your community.

4. Businesses can be a source of social good: By providing goods and services that improve the quality of life for people in your community, businesses can be a source of social good.

>>> Related Post: “ Essay on Entrepreneurship ”

Therefore, business is a wholesome activity that has many benefits for individuals, groups, and communities. It is an important part of the economy and helps to spur innovation and new ideas. Businesses can also be a source of social good, by providing goods and services that improve the quality of life for people in their community.

Business Essay | Essay on Business for Students and Children in English

October 21, 2024 by Prasanna

Business Essay: The act of making one’s living by earning money through the process of buying and selling different kinds of products is called business. Business is based on the foundation of profit and loss; thus, the success or failure of a business has a broad spectrum of variations.

The term business also sometimes refers to a ‘company.’ But, business as a generalized term can refer to the work of a street peddler to the ownership of a multinational company.

You can also find more Essay Writing articles on events, persons, sports, technology and many more.

Long and Short Essays on Business for Students and Kids in English

We provide students with essay samples on long business essay of 500 words and short essay of 150 words on the same topic for reference.

Long Essay on Business 500 Words in English

Long Essay on Business is usually given to classes 7, 8, 9, and 10.

Business is a very demanding profession that has broadened and popularized over the years. A business requires high skills of management, teamwork, patience, mental strength, and effectiveness of work. A person should be mentally prepared to accept the fall of a business at any point of time in their life since it is not always secure. But, if planned properly, with help from the expertise and patiently blossomed over the years, then a business has a greater rate of success.

A business generally works with the coordination of several activities. Accounting, financial management, manufacturing, marketing, research and development, safety, and sales management are the various components that need to be tended to while running a good business with the aim of success. Investors, creditors, and regulators play a pivotal role in the profit of a business. Generally, there are four main types of businesses, which include sole proprietorships, partnerships, limited liability companies (LLC), and corporations. Before initiating a business, the entrepreneurs should carefully consider which structure is best suited for their enterprise.

Factors affecting the state of a business are the size and scope of a business firm, the sector and country, tax advantages, disclosure and compliance requirements, control, and coordination requirements. Businesses cover a wide field of jobs including, agriculture, financial services, entertainment companies, industrial manufacturers, real estate, transportation, sports, utilities, retailers, wholesalers, and distributors.

Business benefits employment generation. Business is important for generating employment as it provides jobs to several people in the form of managers, clerks, salesman, and more. Businesses use the scarce resources available and convert them into valuable products that fulfill a utility and sell them to the public. Thusa business is helpful in optimum utilization of resources. Businesses also help in improving communication between nations through foreign trade and therefore help in improving relations between nations.

Setting up a business not only makes one independent but also gives one a certain lifestyle. A successful business provides financial rewards, creative freedom, and personal satisfaction. The success of a business brings in a person self-confidence and motivation. In recent years, E-business has popularized greatly. Online business gets benefits from the government as the government is trying to promote digitalization. E-business is often very advantageous, as it gets easier to reach a larger audience and also can be conducted at any time. Small start-up businesses are often initiated online and are established once they gain minimum customer popularity.

The involvement of time and regions makes it the biggest disadvantage of a business plan. When a business set up does not have enough money or expertise to make a proper business plan, the business ends up suffering more than gaining. Certain businesses are region and climate bound and thus have to concentrate their sales at a particular place or time and are incapable of expanding. Such businesses are often harder to handle and needs to be planned carefully and tactfully. A business often starts with a small idea or inspiration. It is important to cultivate the creativity in a person and be well informed before putting the creativity into action.

Short Essay on Business 150 Words in English

Short Essay on Business is usually given to classes 1, 2, 3, 4, 5, and 6.

Business is the act of making a living by earning money by the process of buying and selling products. A small idea or inspiration, when slowly nurtured over the years carefully and strategically planned and set up, turns out into a successful business set up. Millions of large- and small-scale businesses are run all over the world every year to make a proper lifestyle.

The benefits of business include providing employment, optimum utilization of resources, and communication between nations, financial gain, building self-confidence, and securing the future. Often a single business is taken over generations of a family and becomes integrated into their identities. E-business has popularized in recent years with a high success rate. The downfall of a business can result in a huge loss and mental breakdown. Hence, it is always important to be well versed about the factors affecting a business and advised to consider suggestions from expertise.

10 Lines on Business in English

Business is set up on the foundation of profit and loss and can be risky if not well planned.
The business employs a lot of people.
Businesses help polish personal skills such as teamwork, self-confidence, and management.
Businesses often provide optimum utilization of resources.
E-business is an ideal form of start-up business supported by the government.
Patience is essential to setting up a successful business, and a plan should never be hurried.
Businesses provide a lifestyle and a secure future.
A business is an amalgamation of several activities such as accounting, finance, manufacturing, etc.
A lot of time should be invested in research and planning before setting up a business.
A business often uses the mode of reuse and recycles and thus is economically quite beneficial.

FAQ’s on Business Essay

Question 1. What is business loyalty?

Answer: On business is a loyalty program for small businesses by British Airways where one earns points while booking travel, which can be redeemed for free flights and upgrades.

Question 2. What is the first step in starting a business?

Answer: Technically, the first step in starting a business is investing.

Question 3. Do businesses have a global benefit?

Answer: Businesses help in improving communication between nations and thus does have a global impact.

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Home — Essay Samples — Business — Business Ethics — Advantages of Business for Society: An In-Depth Analysis

Advantages of Business for Society: an In-depth Analysis

Categories: Business Ethics Corporate Culture Corporate Social Responsibility

About this sample

Words: 864 |

Published: Dec 17, 2024

Words: 864 | Pages: 2 | 5 min read

Understanding the role of business in society, economic growth and job creation, innovation and technological advancement, sustainability efforts, civic engagement and community development, diversity and inclusion initiatives, the ripple effect on social change, conclusion: the balanced perspective, references:.

Pikkemaat, B., & Van Der Meer-Raamstijn (2020). The Impact of Small Businesses on Local Economies: A Comprehensive Study on Economic Growth Through Entrepreneurship. Journal of Business Research.
Khan, M., & Chaney S.A (2021). Innovations Leading To Positive Social Change: How Corporations Drive Progress Through Technological Advancements In Modern Era Communication Technology Review Journal Article Series Vol 15 Issue 5 pp123-145
Simmons J.M., & McCarthy R.J.(2019). Corporate Responsibility Reporting And Its Influence On Stakeholder Engagement: A Study Of Sustainable Practices Across Industries International Journal Of Economics And Finance Vol12 No6 pp114-130
Lloyds Bank (2023). The Role Of Business In Community Development Initiative Reports Yearly Overview Insights Sector Trends
Miller G.R.(2018). Diversity Initiatives In Fortune 500 Firms—Creating Inclusive Environments To Drive Innovation Global Management Perspectives Vol10 Issue3 pp222-235

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Business Essay Examples

13 Business Essay Examples for Students

15 min read

Published on: May 1, 2023

Last updated on: Oct 28, 2024

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Are you struggling to figure out the structure, research, or data required to make your essay stand out? Or frustrated by the lack of inspiration and ideas for your essay?

But don't give up yet! We have a powerful solution that will make your essay writing a breeze. Our list of business essay examples is here to help!

We have compiled expertly written business essay examples that will illustrate how to write a striking business essay.

With our examples, you'll be able to see how to structure your essay and generate creative ideas for your topic. And our tips will help you make the most of these examples.

So, let's dive in and get ready to learn!

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What is a Business Essay?

A business essay is a type of academic writing that focuses on business-related topics and issues. These essays can cover a wide range of topics such as marketing, finance, management, entrepreneurship, and more.

The importance of business essay lies in presenting a well-researched and informed analysis. To do this effectively, writers need to conduct extensive research and analysis on the topic at hand.

Referring to examples of business essays can help you gain insight into the structure, tone, and content of a well-written essay.

Business Essay Examples For Students

Here is a list of business writing examples

Business Essay Examples Pdf

Business Essay Example Grade 10

Business Essay Example Grade 11

A Level Business Essay Examples

University Business Essay Examples

International Business Essay Examples

Short Essay About Business

College Essay About Starting A Business

Types of Business Essay with Examples

When it comes to business essay writing, there are several different types that you might encounter.

Here's a brief overview of each type, including their characteristics and an example of each.

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Case Studies

A case study is an in-depth analysis of a specific business situation or problem. It involves extensive research and data analysis to provide recommendations.

Case studies often showcase the application of theory to real-world business scenarios.

Example:

Research Papers

Research papers involve a more academic approach to business writing. They typically require an extensive literature review, data analysis, and original research.

Business research papers aim to contribute new knowledge to the field of business. These often involve a hypothesis or research question.

Argumentative Essays

Argumentative business essays aim to persuade the reader to adopt a particular point of view or take a specific action. They present an argument and use evidence and logic to support their claims.

Argumentative essays can address various business topics such as management practices, ethical issues, or market trends.

White Papers

A white paper is a document that provides a detailed explanation of a particular issue or problem, often with recommendations or solutions.

White papers are typically used to educate stakeholders about a specific topic. These are often used in the business-to-business (B2B) context.

Comparative Essays

Comparative business essays compare and contrast two or more topics or ideas. They typically analyze the similarities and differences between the topics to evaluate their pros and cons.

Comparative essays can focus on various aspects such as products, companies, markets, or strategies.

How to Structure Your Business Essays

As you begin writing your business essay, it's important to structure it in a clear and organized way.

Here's a step-by-step guide with business essay samples to help you do just that:

Executive Summary

The executive summary is a brief overview of your entire essay. It should summarize your main points and highlight your recommendations.

This section should be written after completing the essay, as it gives a clear picture of what the essay covers.

Here is how you start a business essay sample:

Introduction

The introduction sets the stage for the rest of the essay. It should introduce the topic, provide background information, and explain the purpose of the essay.

Here is a business essay introduction example:

Industry Analysis

In this section, you'll conduct a thorough analysis of the industry in which the business operates. You should examine factors such as competition, market trends, and customer behavior.

Here is a sample industry analysis

Key Issues or Problems

This section should identify the main issues or problems faced by the business. You should provide evidence to support your claims and analyze the impact of these issues.

Here is an example paragraph:

Solutions or Recommendation

Here, you'll provide solutions or recommendations to address the issues identified in the previous section. Your solutions should be well-supported and feasible.

For instance:

Implementation Plan

For this part, you'll outline a plan for implementing the solutions or recommendations you've proposed. This is sort of a description of the business model you suggest.

This section should be detailed and include specific action steps.

For example:

Finally, in the conclusion , you'll wrap up your essay by summarizing your main points and reiterating your recommendations.

This section should be clear, concise, and impactful.

By following this structure, your business essay will be well-organized, coherent, and easy to follow for your readers.

Looking for inspiration? Our comprehensive list of business essay topics will spark new ideas for your writing.

Tips for Using Business Essay Examples Effectively

Now that you have quite a few business essay examples at hand, you should know how to use them effectively:

Use them as a guide, not a template : While it's great to learn from examples, you should never copy them outright. Instead, use them as a starting point for your own research and writing.
Analyze the strengths and weaknesses of the essay : Take note of what works well in the example essay, as well as any areas that could be improved. This will help you understand how to make your own essay even better.
Use them to inform your own research and writing : Pay attention to the research methods, sources, and evidence used in the example essay. This can give you ideas for your own research and help you strengthen your arguments.
Avoid plagiarism and ensure proper citation: Whenever you use ideas or information from an example, make sure to cite your sources. This will help you avoid plagiarism and maintain academic integrity.

You now have plenty of business essay examples on different topics to help you get started!

By following our tips and studying the sample essays, you can confidently write your own essays that are clear, concise, and impactful.

However, if you still find yourself struggling with your business essays, just reach out to our professional business essay writing service .

We have the best online essay writing service and are ready to provide you a high-quality business. Our writing service has subject specialist writers who can tackle any business essay topic.

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Essay on Sociology

Free Essay On Role Of Business In Society

Type of paper: Essay

Topic: Sociology , Responsibility , Products , Skills , Society , Business , Workplace , Health

Published: 03/10/2020

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The role of business in society is an issue that has been debated many times due to issues such as corporate social responsibility. However, I believe that the role of business in society is compound and ranges from supplying goods to improving the welfare of the society.

Supply of goods and services

I can say this is the main responsibility of the business in the society. The society has needs in terms of goods and services and businesses are, therefore, established with the sole purpose of meeting these needs and also to make profits. Businesses purchase goods from the society, take them through various processes to make a final product that will benefit the society in general. Such instances may include buying maize from farmers to produce maize flour and other products. In addition, companies do not just buy from farmers but also develop new products and innovations to ease the way of life in the society. This is best shown through use of machineries and social websites where people can communicate from any part of the world within seconds. Innovation will help the society lower costs enhance quality of products and ensure products and services are delivered quickly. This is best shown by Apple where people obtain technological products for communication and other uses. The products provided should be healthy so as not to compromise on the health of the society. A healthy society is important for productivity since business needs healthy individuals to work for them. The business should also be able to give people a choice in terms of goods provided. This is by providing diverse products in the market and various industries for consumers to specialize in their areas and pursue their interests. In addition, this should offer consumers a variety of areas where they want to eat, shop and what to buy.

Employment is another role of the business in the society since the society has human skills that are critical to businesses. These skills assist the business run its operations such as manufacturing, production among others. As a result, the members of the society employed earn incomes, pay taxes for development in the same society and also buy goods for daily consumption. The incomes earned will assist the society build wealth for future spending, assist the disadvantaged and hence meet various societal needs. In addition, businesses should provide a platform for young entrepreneurs who desire to be leaders in the future by being role models. The young people will later assist the society achieve some of its social needs such as clean water for healthy living.

Social Interactions

Businesses should offer the society a place to interact and socialize by sponsoring employees for abroad trips in order to understand each other and people better. Socialization will enhance peaceful coexistence; social-cultural interactions hence remove issues such as stereotyping.

Corporate Social Responsibility

Though corporate social responsibility is taken to be voluntary, I think it should be core for businesses to take it seriously. This is because, business, in addition to offering employment and goods to the society, also need to thank the society for peaceful coexistence. The society provides the environment around which the business operates. As such, businesses should let positives externalities trickle down to the society. This may be in the form of supply of water to the surrounding community for free. The society would find it difficult to disrupt the activities of a business that provides free services such as water. Moreover, the business should engage in sponsoring some activities of the society such as educating the disadvantaged or students for the poor backgrounds. This is because, the society employs human skills and some students from poor backgrounds are unable to offer these skills due to lack of education. By supporting education, the business is providing a platform for having adequate skills in the future for its continued success. Furthermore, businesses should be advocates of climate such as go green activities. These are campaigns geared towards encouraging people to use renewable sources of energy such as gas to avoid cutting down of trees. Trees assist in controlling issues such as soil erosion, cleaning of the air for healthy living and global warming. Such spearheading will bring awareness of the importance of conserving the environment for a better tomorrow. The environment being conserved will also benefit the businesses in return since there will be readily available materials for companies’ manufacturing processes. Such materials may include water as a result of conserving the environment. Moreover, businesses should be advocates for human rights such as freedom of expression. This is by encouraging effective recognition of the right to collective bargaining, following labor laws, having clear rules and principles of labor that forbid coercion and use of child labor to advance business interests. Also, this may one may be done by ensuring that there is no workplace discrimination based on gender, age, ethnicity among other forms of exploitation.

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Persuasive Essay Guide

Persuasive Essay About Business

Learn to Write a Persuasive Essay About Business With 5 Best Examples

What is Persuasive Essay Writing?

A persuasive essay is a type of essay that is designed to convince the reader of your point of view.

It uses logic, facts, and evidence to present your side in an effort to sway their opinion. You also use other persuasive elements, like emotional appeal, to persuade others.

Persuasive essays use clear language to make the reader understand your position and see why it is the better choice.

You have now understood the basic definition and purpose of a persuasive essay. Check out the PDF sample below to understand what a persuasive essay looks like in practice.

The Importance of Persuasion in Business

Persuasion is an important skill to have in the business world. You need to be able to persuade others so that you can get what you want.

This can be in the form of a sale, convincing an employer to hire you, or even presenting a business idea to potential investors.

Persuasive writing business is also used in marketing. Businesses need to explain why people should purchase their product or service and convince them that it is the right choice.

Understanding key techniques such as ethos, pathos, and logos can significantly enhance your persuasive abilities and help you achieve success in business. Here is a video with a simple explanation of what is persuasion:

How to Write a Persuasive Business Essay

Writing a persuasive essay can be a daunting task, as it requires the use of correct persuasive techniques along with evidence. But with the right steps and guidance, you can create an impressive piece.

Continue reading to find out how to write a good persuasive essay with examples;

Step 1: Think of a Clear Topic

Your essay should have a very clear topic that you want to focus on. For example, if you’re passionate about sustainability, you might choose the topic, “Should businesses implement stricter environmental policies?”

Choosing a topic with multiple perspectives will help you formulate a strong thesis statement . In this case, your thesis might be, “Businesses should adopt stricter environmental policies to combat climate change and improve their public image.”

Step 2: Research and Gather Evidence

Once you’ve chosen your topic, research it thoroughly. For the topic of environmental policies, you might look into current environmental regulations, case studies of companies that have adopted such policies, and statistics on the impact of these policies on business performance.

Gather evidence such as facts about pollution levels, quotes from environmental experts, and statistics showing the benefits of green practices. This will make your essay more compelling and credible.

Step 3: Organize Your Ideas

After gathering your research, organize your ideas clearly. Create an outline to structure your essay. For instance, your outline might include:

Introduction: Overview of the importance of environmental policies.
Body Paragraph 1: Evidence of the benefits of stricter policies.
Body Paragraph 2: Case studies of companies with successful policies.
Body Paragraph 3: Counterarguments and refutation.
Conclusion: Recap of the main points and final argument.

Using a persuasive essay outline will help ensure your essay flows logically and covers all key points effectively.

Step 4: Write Convincing Paragraphs

With your outline ready, start writing your essay. Begin with an introduction that sets the scene for your topic. For example, “As climate change becomes a pressing issue, many businesses are faced with the decision of whether to implement stricter environmental policies.”

The body of your essay should present your arguments in separate paragraphs. Each paragraph should focus on one point. For instance, one paragraph could discuss the positive impact of green policies on customer loyalty, while another could highlight the cost savings from reduced waste.

Conclude by summarizing your argument and explaining why stricter environmental policies are beneficial. For example, “Adopting stricter environmental policies not only helps combat climate change but also enhances a company’s reputation and financial performance.”

Step 5: Check For Errors

After writing your essay, proofread it for any spelling or grammatical errors. Make sure the argument flows smoothly from one point to the next.

For example, ensure that sentences like, “The company has saved millions,” are clear and accurate. Ask someone else, like a professor or a trusted friend, to review your essay and provide feedback. They might catch errors you missed or offer suggestions to strengthen your argument.

By following these steps, you can create a persuasive business essay that effectively argues your point of view and engages your readers.

Persuasive Business Essay Examples

Business essay writing can be quite challenging. After all, you are required to provide evidence and arguments to back up your opinions.

But don't fret! You will get comfortable with it after checking out a few good examples and getting some practice. Here are some examples to help you get started on your own essay:

Persuasive Essay About Business Examples 5 Paragraphs

Persuasive Essay About Business Examples PDF

Persuasive Essay on Business Administration

Example of Persuasive Speech About Business

Persuasive Essay About Online Business

Persuasive Essay On Business Management

Persuasive Essay Topics About Business

When it comes to business, there are many interesting topics that you can explore in a persuasive essay. Here are some business topic ideas:

Should business organizations prioritize employee well-being over profit maximization?
Should human resources prioritize employee well-being over company profits?
Should case studies be a mandatory part of business education in the United States?
Should artificial intelligence replace human resources in business organizations?
Should government regulation in the United States mandate minimum working conditions for all businesses?

Business Law Essay Topics

The impact of government regulation on small business operations in the United States
Legal challenges in human resource management: Navigating employment law
Intellectual property rights and business practices: Case studies of major corporations
The role of business law in regulating artificial intelligence in the workplace
Legal implications of international business organizations operating in the United States

Business Management Essay Topics

The role of leadership styles in effective business management
Strategic human resource management: Balancing efficiency and employee satisfaction
The impact of technology and artificial intelligence on business management practices
Case studies in business management: Lessons from successful startups
Managing organizational change: Strategies for business transformation

International Business Essay Topics

The influence of globalization on international business practices
Strategies for managing cross-cultural teams in international business
The impact of trade policies on international business operations
Challenges and opportunities in expanding business into emerging markets
The role of international business in sustainable development

We have some persuasive essay topics on other subjects for you as well - check them out!

Examples of Argumentative Essay About Business

Argumentative essays are a great way to explain your point of view in a logical and convincing manner.

Business essays can be written about many argumentative essay topics . For example, to explain why certain business decisions should be made or to argue the pros and cons of different approaches. Here are some examples:

Argumentative Essay About Online Business

Argumentative Essay Business Example

Argumentative Essay About Small Businesses

Argumentative Business Essay Topics

Let’s take a look at the business argumentative essay topics ideas:

Should businesses prioritize profit over social responsibility?
Is remote work more beneficial for businesses than traditional office settings?
Should government regulation be increased to ensure ethical business practices?
Is artificial intelligence a threat to job security in the business sector?
Should companies be held accountable for their environmental impact?

To wrap up the discussion,

Writing a compelling business essay can be challenging, but it is also an important skill to have when you are entering the corporate world. By following these tips and looking at examples, you can create an essay that will make your point of view clear and persuasive.

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Essay on Business 500+ Words

Business is like the heartbeat of our world. It’s all around us, from the corner store to big companies. In this essay, we’ll explore why business matters and how it shapes our lives.

What Is Business?

Business is more than just buying and selling. It’s about creating, making, and sharing things that people want or need. Businesses can be small, like a lemonade stand, or huge, like international companies such as Apple or Google.

Creating Jobs

Businesses are like job creators. When someone starts a business, they often hire other people to help them. According to the Small Business Administration, small businesses in the United States create about two out of every three new jobs.

Meeting Needs and Wants

Businesses play a big role in making our lives better. They provide us with things we need, like food and clothes, and things we want, like toys and gadgets. Without businesses, we wouldn’t have access to many of the things that make our lives comfortable and enjoyable.

Innovation and Invention

Businesses are like engines of innovation. They come up with new ideas and turn them into real products. Think about how companies like Tesla are changing the way we think about cars by creating electric vehicles. Businesses push the boundaries of what’s possible.

Supporting the Community

Businesses also support our communities. They pay taxes that help build schools, parks, and roads. Some businesses even donate money to charities and sponsor local events. When businesses do well, the whole community benefits.

Global Connections

Business isn’t just local; it’s global. Companies in one country often trade with companies in other countries. This helps us get products from around the world, like bananas from South America or electronics from Asia. It also connects people from different cultures.

Learning Opportunities

Business can be a great way to learn. When you run a lemonade stand, you learn about money, customer service, and teamwork. Many successful entrepreneurs, like Elon Musk, started with small businesses and learned valuable skills along the way.

Challenges and Problem Solving

Businesses face challenges every day. They need to make smart decisions, adapt to changes, and solve problems. These challenges teach us important life skills, like resilience and creativity. Learning how to overcome obstacles is a valuable lesson from the world of business.

Conclusion of Essay on Business

In conclusion, business is not just about making money; it’s about making the world go round. It creates jobs, provides us with what we need and want, drives innovation, supports communities, and connects people worldwide. Whether you dream of starting your own business or not, understanding the importance of business is essential. It’s like a puzzle piece in the big picture of our lives, and it’s a puzzle piece that makes the world a better place. So, let’s appreciate the role of business and the opportunities it offers in shaping our world for the better.

Also Check: The Essay on Essay: All you need to know

Business Essay and the Best Way of Its Writing

Academic Writing Tips

Social Science
Political Science

write an essay on the importance of business

Business is an essential aspect of today’s evolving world. It is a lucrative industry that impacts many sectors, including education. Business-related courses are popular as many students are pursuing the programs. There are many branches in the business field, from business management to finance. College tutors often give students different business papers to test their knowledge as part of the assessment.

A business essay is an academic assignment that involves writing a paper that responds with a strategic and analytical approach to specific situations occurring in the market. Each business essay has a different topic that students tackle. However, the primary purpose of such essays is to collect relevant facts that align with the research question and analyze the data to get solutions.

Writing a business essay might seem simple, but it requires impressive writing skills and extensive research. You must be familiar with the topic to know the paper’s direction. Topic selection is a tricky section that affects the entire writing process. It is essential to identify a relevant topic to assist you in crafting a remarkable paper. You have to write a well-structured and compelling paper to get good grades. Presenting accurate arguments with supporting examples from reliable sources is an essential research aspect. Thus, a business essay must follow the required academic standards and theoretical frameworks.

However, writing is not everyone’s cup of tea, and incorporating logical arguments can be challenging. If you are stuck, you can check any business essay example online to understand the format. You will know how to structure the paper and relate it to the relevant themes.

That is why our writing service is here to help needy students craft exceptional essays. We will connect with a proficient business essay writer to help with the research and writing process. Get flawless documents from us and earn the best score in your class.

Business Essay Format

Most learners often overlook the importance of having a business essay format. It is imperative to use a format to help you outline your work. Proper thought organization and articulation are essential aspects that translate into a well-written business essay.

Below is an example of the format:

Introduction
Background information
Introduce main topics
Thesis statement
Topic sentence
Research explanation
Restate points
Significance of the study

The above outline is a map that will guide you to know what to include in each section. In addition, you will understand what the assignment requires you to do from the introduction to the conclusion.

If you still find it challenging to get the proper format, you can study a relevant business essay example from our site and jumpstart your paper. Whether you need a business school essay or a business plan essay, we have you covered.

Write Business Essay In 5 Steps

While writing might seem challenging, with the proper format and topic familiarity, you are on the right track. It is imperative to understand the writing process before composing your business essay. You need to read the prompt carefully to know what you are supposed to research and write about.

Here is an overview of the writing process in 5 simple steps:

Topic Selection

Choosing a good topic is mandatory in crafting an excellent paper. You must select a theme that aligns with the research question. Additionally, ensure you select a familiar topic you are passionate about to avoid writing mistakes and illogical paragraphs.

Extensive Research

Conduct extensive research to get facts and supporting evidence. Narrow down your theme and include only good points. Avoid broad topics because you will waste time during research.

Essay Outline

Make sure you use a proper outline to organize your thoughts and line of arguments. Follow the format essay

Start writing your paper while using the required academic format. Organize your work and include the introduction, main body paragraphs, or conclusion.

Editing and Proofreading

Finally, edit and proofread your essay to eliminate grammatical and spelling mistakes.

The above steps will help you during business essay writing to craft remarkable papers. It would be best to plan your time adequately to avoid rushing through the process. However, you must select an appropriate topic for your paper. It could be a business management essay or a marketing paper. No matter the subject discipline, ensure you follow the correct procedure.

Business Essay Topics

Our experts have compiled a list of different business essay topics to inspire your writing:

Discuss the importance of bookkeeping in a business.
Evaluate the impact of value addition in products.
An analysis of income and expenditure transactions.
Analyze the supply-chain industry.
The effects of product promotion in business growth.
How to develop an effective marketing strategy.
Impact of policymaking in enhancing company productivity.
What is multilevel marketing?
Impact of technology in the business world.
Discuss the challenges affecting entrepreneurship.
Significance of human resource management.
Explore the importance of budget analysis.
How does technology impact advertising?
The importance of a financial strategy.
How to start an online business.
How can organizations profit from sustainable practices?
How to develop a positive organizational culture.
The importance of employee diversity in an organization.
Effective ways of fraud prevention in a company.
Explore the communication channels in an organization.

Let us look at interesting argumentative business essay topics

Discuss the influence of cultural differences on international companies.
A comprehensive analysis of cryptocurrencies.
Discuss the ethical dilemmas in international organizations.
The influence of globalization on the business community.
Should large organizations have a social media presence?
Causes and effects of economic recession.
Impact of politics on business growth.
Discuss the effective strategies of negotiating cross-cultural business deals.
Explore the integrity of online entrepreneurship.
The impact of corporate social responsibility in an organization.

The field is quite diverse with various course programs. You can derive different topics from these programs to get logical arguments. So, get inspiration from the compelling business school essay examples and craft exceptional papers.

How To Start A Business Essay

Knowing how to start a business essay is essential for academic writing. The first step entails topic selection because it will determine the essay’s direction. Identifying a relevant topic is vital, and you need to ensure you get the suitable theme. It will also help save you time during research and simplify the writing process.

When it comes to essay writing service , business papers are among the assignments that require extensive research and analysis. Read the essay prompt carefully to understand the tutor’s expectations. Then, make sure you conduct a comprehensive brainstorming session to get the major points for your paper. Having the right points will help you compose logical arguments in a flawless manner.

Moreover, it would help to read previous essays and publications from reliable essays widely. You will get essential data to support your arguments. Besides, the sources will help you cite your essay correctly.

Start your essay with an insightful introduction and include your perspective regarding the topic. Incorporate a powerful thesis statement that informs your readers of the paper’s direction and the major points you will discuss.

Proceed to write the body paragraphs with a topic sentence that captures all significant arguments. Each paragraph should have well-explained arguments that flow logically.

Finally, conclude your business essay by restating your main points and the significance of the study.

Still, need help with your paper? Worry no more. Our competent business essay writers are on standby, ready to assist you with any academic paper. Stop wasting time and reach out to us. We will help you score top-of-the-class grades within no time.

The paper “Enterprises Resource Planning Success and Failure” is an outstanding example of a business essay. An Enterprise resource planning (ERP) system according to Aslan et al. (2012, p.693) is a management system within an organization that has sets of connected inclusive software, which may be used when espoused and put into practice effectively, to oversee and connect every organizational function. Basically, ERP systems may be employed as a tool for helping to improve the supply chain network as well as the level of performance by helping in decreasing cycle times.

Besides that, ERP systems have been utilized routinely in capital-intensive industries like building, construction, manufacturing, as well as defence. Latterly, ERP systems have advanced further and nowadays they are prevalent in industries such as education, health care, finance, hospitality, and telecommunications. Fundamentally, the benefits of ERP systems are hard to realise not unless a strong disposition, as well as participation, is established within the organisation; so, the article seeks to critically analyse ERP success and failure experienced by organisations.

BodyAs mentioned by Hellens et al. (2005, p.283), ERP systems are built upon a single database and application, as well as a coordinate that is unified in the whole organization. For that reason, every application serving different departments such as HR, accounting, and supply chain are integrated firmly under a single ERP system. Al-as observed by Al-Masha et al. (2003, p.354), ERP systems are useful when successfully implemented because they accelerate the process of decision-making. So, the success of ERP systems depends on the ability of an organisation’s managers to efficiently oversee the operation of a business, given that ERP systems can help them reduces operation costs.

Success drivers of ERP systems can be categorised into two: operational and technological drivers. In this case, operational drivers are associated with ways of improving organisational performance, supporting business strategies, as well as cutting production costs. On the other hand, technological drivers are predominantly associated with compliance with existing rules and regulations. The notion of success varies as the process of implementation continues, in that for planning and implementation (the first two stages of the cycle) success is mainly rooted in completing the ERP project to the standards that are acceptable within the budget as well as a time limit.

As pointed out by Hanafizadeh et al. (2010), stabilization as well as Improvement (the last two stages of the cycle) success is founded on the seeming impact of the ERP system on the performance of the organization. As indicated in Hanafizadeh et al. (2010) study, there are scores of factors vital for the success of ERP systems; support is top management one of the factors, and it involves encouraging commitment, positivity, and support of top management in the ERP project. Another factor is the utilization of knowledge as well as experience of system and technology consultants.

Additionally, the balanced project team is crucial for the success of ERP systems because it includes the integration of employees and information technology with the broad knowledge of the processes in the organization. As evidenced in Hellens et al. (2005) study, the accuracy of the information is crucial to the success of ERP project, so, data loaded from accessible legacy systems must at all times be of high quality. ERP project cannot succeed if the project management teams do not have a well-defined, detailed project plan related to the goals of the project.

Change management is also a success factor in the implementation of ERP project; so, careful attention has to be offered to this, considering that several changes in business processes are experienced during ERP systems implementation. Training and education are also important given that technical expertise regarding the ERP system, its reference model, and facts regarding its working are useful in the process of implementation. Other factors crucial for success consists of, availability of experts who aside from being in top management will frequently help the organization realize ERP system benefits.

Failure of ERP projects has been prevalent, and this has continued to bite worldwide across all business platforms. As pointed out in Xue et al. (2005, p.279) study, ERP poise substantial benefits like improving customer service, reducing manufacturing costs and boosts productivity, but these benefits are only realised after successfully implementing the ERP systems. Nevertheless, statistics show that implementation of ERP systems is still a failure amongst scores of companies. Statistically, 90 per cent of ERP systems implementations in Asia countries, especially China are either completed late or use more money and resources than those stipulated in budget.

In Xue et al. (2005) study, where they differentiated implementation success of ERP system in China as well as western countries, they noted that China had a higher percentage of failure which was attributed mainly to lack of support from top management as well as data inaccuracy. Other factors that led to ERP failure include poor participation, education and training, insignificant time ensuing from a minimal understanding of cross-operational organisational processes (Dechow & Mouritsen, 2005, p.691). Furthermore, ERP systems are exceedingly expensive, and also the need for the organisation to hire consultants to assist in the configuration as well as implementation, results in further escalation of price; thus, creating a high possibility of failure.

The cost used on consultants is almost thrice the cost of an ERP system; this negatively affects the productivity of the company and can lead also to the failure of the ERP system. ConclusionIn conclusion, it has been argued that ERP systems are beneficial because they improve the flow of information between every function of the company and also manages the connections to external stakeholders. Currently, the key basis of competitive advantage is the capability of a business to improve the processes of the supply chain.

This necessity has created the need for more advanced information systems like ERP systems. The articles have heightened numerous factors critical to the success of ERP, and which have allowed companies to efficiently plan their resources resulting in business efficient functionality and increased productivity. Failures as discussed in the article are caused by lack of support from top management, data inaccuracy, and lack of sufficient education and training.

The paper “New iPhones Show a Hit For Apple as Quarterly Profit Fluctuate 13 Percent” is an outstanding example of a business literature review. Yao (2014) explains that China is expected to provide information about its weakest growth since the occurrence of the global financial crisis within the third quarter while the property downturn is assessed based on manufacturing and investment. As a result, more pressure has been put on Beijing to unveil new stimulus measures. According to Yao (2014), the market assumes that the Communist Party leader will be able to adjust to the gradual slowdown. This will happen only in circumstances where there are no possibilities of experiencing a potentially destabilizing fluctuation in unemployment. However, anything weaker would lead to more speculations of key stimulus measures, for instance, an interest rate cut. Although the leadership has consistently provided steady aid specifically to vulnerable sectors of the economy, it has been noted that several stimuli have been ignored because China is still struggling to pay a huge local government debt (Yao 2014).

Article 2: New iPhones show a hit for Apple as quarterly profit fluctuate 13 percent

Due to strong demand for APPLE’s new larger-screen iPhones released in September, its quarterly profit increased by 13 percent. This also enabled APPLE to overcome the sluggish iPad sales (Jones 2014). Despite the more intensifying competition felt by Samsung Electronics as APPLE’s leading Smartphone competitor, Jones (2014) points out that the iPhone is attracting more consumers who are also ready to pay high prices particularly for cutting-edge handsets. Through its latest phones, Apple is profitably catching with its major competitors, such as, Samsung that have from time to time managed to post attractive sales of larger phones. It has also been noted that the marketing strength that iPhone has gained stands in contrast to sluggish iPad sales and the issues affecting Samsung’s Smartphone business (Jones 2014).

Article 3: Coal not the solution for poverty

Couchi (2014) examines that cheap coal-fueled electricity is highly considered by miners and politicians as the best alternative way out of poverty, particularly for developing nations. However, Africa has not considered this. In the business report provided by Couchi (2014) about the U.S financial group Citi, it can be noted that the booming market for African electricity has been a result of the coal approach. In the attempt to reinforce coals bearish outlook, Couchi (2014) reports that Citi discovered that a new International Energy Agency (IEA) outlook on the commodity is in contrast with the idea of BHP, the US coal producer Peabody as well as the Minerals Council of Australia which maintains that coal would play an integral role in minimizing energy poverty, particularly for developing countries. Despite its metallurgical and thermal forms, coal is considered the second-biggest mineral exported from Australia after iron ore (Couchi 2014).

Article 4: Ebola could be in the headlines, but tobacco is yet another killer in Africa

Research conducted by The Guardian (2014) shows that although Ebola dominates the headlines, there is yet another killer pandemic of great importance that continues to kill many people in the African continent unnoticeably. It is has been noted that tobacco kills at least one between two long term smokers. Currently, it is anticipated to kill 1 billion people globally before 2100. This is relatively more compared to the current number of people who die of Ebola. The Guardian (2014) terms this global issue as injustice and inequality because Transnational Tobacco Companies (TTCs), such as UK-based British American Tobacco (BAT) earn humungous profits yet they cause economic damage worthy over half a trillion dollars each year. Besides, TTCs contribute more to environmental degradation and thus create risks that compromise the health as well as the sustainability of populations. To earn more profits, TTCs are currently shifting and expanding their business to untapped markets in regions with unrestricted opportunities for growth (The Guardian 2014).

Article 5: NAB, ANZ lead pack in building home-lending share

The home loan is still considered the major driving force in recovering credit growth for banks. In this case, National Australian Bank (NAB) and ANZ are on the frontline to encourage the big banks in taking the advantage of the mortgage market, while home and business lending are sustainably becoming strong. Therefore, NAB and ANZ have put on media their fastest growth out of the big in all the past three months (Yeates 2014). Despite the faster growth and expansion made by NAB compared to their rivals in home lending, Yeates (2014) notes that analysts see business lending as a bigger concern because the bank has lost shares and faced more pressure, particularly on its margins. Generally, the home loan market is considered a major driving force that enables banks to recover from credit growth regardless of the risks associated with life specifically in business lending (Yeates 2014).

The paper “Globalization and Culture” is an outstanding example of a business essay. Today, it is common to hear people refer to the world as ‘a global village’. This has been a result of the process of globalization. This process has opened up and improved trade across regional and national borders. Not only has globalization enhanced economic interactions across nations but also improved access to information and uplifted the fight for human rights, among other benefits. Recent technological and communication developments along with improved road networks have been the key drivers of globalization. However, critics of globalization say that these benefits have been realized at a very high price: that of surrendering regional and national cultural values, mainly, for Western morals (Kwame, 2007).

Regarding this debate, two key schools of thought emerge. From one angle critics argue that globalization spreads out any and every culture all over the realm, leading to cultural heterogeneity and deeper understanding between diverse groups. This is mainly defined through the global production and distribution of commodities such that people in different parts of the world have access to commodities they would otherwise have never seen. A case in point is the cultural interaction between the United States and Japan. Teens in the U.S interact with the Japanese culture through their comic books, animations and video games, while teens in Japan interact with the American culture through watching TV shows and Hollywood movies produced in the U.S (Kwame, 2007).

On the flip side, critics argue that globalization erodes the regional and national cultural identity through cultural homogeneity. This leads to a cohesive global culture constituting diluted varieties of regional and national cultural nuances. For instance, French pastries, ‘American’ fried chicken, and Japanese sushi can be eaten in almost any part of the world. Restraint chains such as MacDonald’s and Starbucks have influenced traditions and behaviors in different countries. Even though champions of globalization claim that this merely affects consumer goods and media broadcasting, critics contend that it deteriorates customary culture ((Kwame, 2007; Czinkota, 2003).

Culture is a prevalent aspect in business whether it is in marketing, production, or human resource management. It is a key variable in the function of success in new markets (Czinkota, 2003). People’s purchasing decisions are based on a product’s design, style or color that supports their religious beliefs and practices. Empirical evidence shows that the success or failure of a company, especially, in a foreign market is reliant upon the effective managerial exercise of local religious beliefs and practices. Therefore, managers ought to be on familiar terms with their market’s religious differences given that religion influences people’s attitudes. For instance, Asians have a different attitude toward authority and women that differs from Western beliefs and practices. Whereas many parts of the world, including Asia, South America, and Africa, value collectivism very much, Americans are more individualistic. Chinese, Latin Americans and Koreans take time casually even as Americans are more proactive.

Failing to appreciate the religious beliefs and practices of the market will often lead to lots of inadvertent mistakes, such as being socially violent, cultural mix-ups, tarnished interpersonal relations, poor negotiations. As a consequence, the company’s future performance dwindles as profits decline. Lack of religious competence, or religious dogmatism, can easily put at risk millions of dollars through fruitless negotiations, lost purchases or sales, and pitiable customer relationships (Czinkota, 2003).

Cultural Literacy

Culture is a broad system that includes traditions, beliefs, attitudes, values, institutions and social interactions. This system reflects the global crunch facing the human race, and so it is a cultural catastrophe (UNESCO 1997). Dealing with such a cultural diversity calls for an important skill referred to as cultural competence. Chrisman (2007) defines cultural competence as ‘attitudes, practice skills, and system savvy for cross-cultural conditions’. The key force in work involving cultural competence is the people’s flexibility and ability to appropriately consider and treat the general public politely and in a proper way fitting their culture. Cultural literacy takes account of cultural competence plus the capacity to analytically mirror, and if needed institute change in, one’s a specific culture. Cultural literacy also comprises the capacity to examine the actions of central cultures measured against other cultures. This becomes very much useful in business. A case in point is the understanding of the effect of globalization or cross-cultural businesses on indigenous cultures all over the world.

Cultural literacy has been likened to an iceberg, through the iceberg model of culture. This is due to the expanse contextual material one requires to understand the culture. Cultural literacy often involves much more than the information essentially spoken. In other words, to understand the meaning of a cultural term, one has got to have much information that is not revealed by the bare meaning of that term. The clear cultural meaning of the term is like the ‘tip of an iceberg’ meaning that the deeper understanding lies below the casual meaning of the term and it constitutes a person’s own applicable information. It is known that 15 per cent or less of an iceberg can be seen above the water surface, 85 per cent or more of the iceberg is submerged below the water surface. This means that there is quite a different picture depicted shallowly from that which is the actual translation in the literature, giving the imprint that implied information comprises relatively tiny bits and pieces of information, left out by the correspondent due to dismissal or suitability (Hawkes, 2001).

Figure 1: Iceberg Model of Culture

It has been stated earlier that culture is a broad system that among other aspects involves religion. The world is very diverse in terms of culture as well as religion. Each culture embodies a creation in itself and yet it is not closed. Cultures give religious convictions semantics, and religions provide decisive connotation to each culture. Religion is a way of life for numerous cultures saturating every one human action. In other cultures, it characterizes the utmost ambitions of human life, and for others, religion is an institution that claims to convey a meaning of deliverance (Hawkes, 2001).

The paper “The Different Communications ” is an outstanding example of a management assignment. Phone: 23 rd August: the communication was made to remind that the bill for the mobile phone is outstanding and if not paid within the date will have a fine imposed on it. The communication was successful as it helped to fulfill my need and acted as a reminder. Further, the call also ensured that it was complete and all the details like outstanding amount, due date, late fine, and other details were provided. The call was complete and highlighted the important aspect which if ignored could have an impact on my usage.

Radio: 24 th August: The communication was made regarding the areas which are having huge traffic and showed the roads which should be avoided. The communication was successful as it helped to fulfill my requirements by highlighting the different roads which need to be avoided and which need to be used. The communication was further clear and loud regarding the different roads and path which should be avoided. This method acted as one where proper guidance was provided and acting in the correct way was highlighted so those correct decisions can be taken.

Communications that were unsuccessful

Television: 24 th August: The communication was made regarding the sale of women’s garments. The communication was ineffective because in the first instance it didn’t meet my needs and requirements as I was not looking to shop. Secondly, the message was not constructed properly as it didn’t speak about the brands which were available on sale, the different garments which were available, and also didn’t highlight the date when the sale would end.

Phone: 25 th August: The communication was made regarding the mobile bill payment which has already been made. The call was ineffective because it was not required as the payment has been made and I had the required receipt. The call was instead a wastage of time. In addition to it, the call was not constructed properly and required to focus on areas through which a message would have been enough as a source of communication to ensure that the payment was correctly entered.

Reasons for communication not to be successful

The communication process can be improved in the following ways

Firstly, ensuring that the communication which is made is required and is addressed properly so that the person who receives the communication gains from it (Nicholas, 2013)

Secondly, providing complete information is essential as it will serve as a benchmark to evaluate the manner in which different information is passed (Anne & Bochner, 2007). It will also help to understand the important matter which has been spoken and will help to highlight the manner in which changes can make so that proper communication and message is passed

Thirdly, the targeted audience was wrong and it is important to correct the audience (Mehrabian and Susan, 2007). This will help to improve the validity and reliability of the communication and will ensure that the process of communication becomes effective and is directed towards the correct person

Fourthly, the process of communication needs to be improved and changed so that the message is correctly interpreted and passed with the same intention (Imahori & Lanigan, 2012). This will help the listeners to evaluate the message in the correct form and will help to ensure maximum response.

Fifthly, the media which are used needs to be chosen wisely as the usage of a message instead of a phone call for bill paid confirmation would have been more helpful and could have caught the attention of the audience in a better way. This would have multiplied the effectiveness of communication and would have helped to understand the important points and issues.

The process of communication thereby requires working on the smaller and important aspect so that the overall process of communication improves and helps to provide the required dimensions through which effectiveness can be gained in the manner messages are passed.

The paper “Why Did Telefonica Initially Focus on Latin America” is a perfect example of a business assignment. Based on Telefonica’s objectives of rapidly increasing shareholder value, profits and achieving growth, it had to take advantage of location economies. Hence, the company initially focused on Latin America, as it must have perceived FDI to be a means for circumnavigating trade barriers. Indeed, the reasons why Telefonica initially focused on Latin America are perceivable through the lens of the Uppsala Model Theory.

According to the theory, the internalisation of a company across many foreign markets is correlated to psychic distance, where the first entry is to foreign markets that are familiar and closer in regards to the psychic distance of the host country, before making subsequent entries in foreign markets with greater psychic distance. Psychic distance comprises the differences in culture, language and political systems (Falvo & Parshad 2005).

Within the perspective of Uppsala Model Theory, it should be argued that companies tend to gradually increase their activities in international markets through a series of incremental stages, where the succeeding steps are anchored in learning and adapting to foreign markets (Pandian & Sim 2002).

This implies that the firms fast gain experience from the markets, where they have closer cultural ties before expanding to foreign markets. For instance, Telefonica had to first gain experience as a telecoms operator in Latin America, since the region has deep cultural ties with Spain, where it is headquartered.

Strategic competitive advantages

The company’s decision to slowly expand to Europe appeared opportunistic as well as strategic. Europe had initially possessed trade barriers that lowered the chances of successful entries. Essentially, there is a correlation between culture and national competitive advantage, where countries that are likely to impose trade barriers, in terms of competition are bypassed in preference to those that are less competitive (Enu & Attah-Obeng 2010). This argument is based on Dunning’s Eclectic Theory, which hypothesises that a company will always seek to leverage their specific advantages, including marketing, knowledge, skilled personnel, technology and information (Dunning 2001).

In this case, the Latin American markets were growing rapidly. They also experienced an increased high adoption rate and usage of mobile phones and internet connections. Additionally, after the Spanish government privatised Telefonica and deregulated the Spanish telecommunications market, the company’s core objective became increasing shareholder value, profits and achieving growth.

This implies that profit maximisation is a major drive to foreign direct development; through the use of particular advantages the company has (Glesem et al. 1990). It, therefore, had to select a region that would enable it to achieve higher profits. The company selected Latin America over Europe. Latin America had few entry barriers, such as competition and government regulations, while Europe had greater barriers due to more competitors. This implies that imperfect competition within the marketplace is a key incentive for expanding abroad. Besides, European mobile telecommunications operators had agreed they would not invade each other’s markets. However, after the entry of America Movil into Latin America, Telefonica faced a stronger competitor, forcing it to expand to Europe.

Commenting on other student’s post:

Why did Telefonica initially focus on Latin America? Why was it slower to expand in Europe, even though Spain is a member of the European Union?

While the student hinted at the growth of multinational enterprises, a brief outline detailing why the company expanded and reasons for expansion could have provided a more relevant backdrop. Additionally, the reference to the Socialist Party by Popular Part in the general election of 1996 was irrelevant and out of context. The student’s decision to link the factors for the European Union to the opening of the telecommunications sector was misplaced. Rather, the student should have selected reasons why Telefonica selected to begin operating in Latin America before making headway to Europe. However, reference to high competition in the sector in Europe was justified.

Accordingly, the student should have explored the close cultural ties between Spain and Latin America, as the major drivers that triggered Telefonica to first launch in the region before expanding to Europe. In supporting the argument, a reference to a relevant theory, such as the Uppsala Model Theory could have pointed to the reasons why internationalisation of a company across many foreign markets is correlated to psychic distance (Uhasselt. be 2005). This includes why the initial entry is mostly made in foreign markets that are familiar and closer in regards to the psychic distance of the host country. Afterward, an explanation of what this meant to Telefonica based on the theory could have been appropriate (Gustafsson & Zasada 2011). For instance, the student should have stated that firms get to fast gain experience from the markets where they have closer cultural ties before expanding to foreign markets.

The student should have based his arguments on Dunning’s Eclectic Theory, which proposes that firms tend to use their peculiar advantages such as marketing, knowledge, skilled personnel, technology and information (Rugman 2010). Further, he should have stated that companies view FDI as a means to circumnavigate trade barriers before going forth to describe the correlation between culture and national competitive advantage, where countries that are likely to impose trade barriers in terms of competition are bypassed in preference to those that are less competitive.

While the student was also justified in arguing that the company sought to maximise profitability and to increase shareholder value, no basis was provided to support the argument, based on the case study. At this stage, the student should have suggested a theory to support his argument (Morgan & Katsikeas 1999). Later, the student should have provided examples from the case study to defend the choice of the theory he selected. However, the student provided examples outside the case study, such as “Telefonica has been able to establish footprints in 24 countries and having an average of 120,000 professionals with consolidated revenues of 24,957 million euros in January-June 2014 and more than 315.7 million customers at June 2014”

Additionally, the reasons the student outlined as the likely motivators for Telefonica to launch first in Latin America before making entries in Europe cannot be justified, as they have not been argued appropriately. For instance, in suggesting political developments, taking policy advantage and the fact that the markets shared a common language, the student should have discussed the concept of psychic distance and the related theory, such as the Uppsala Model Theory.

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Table of contents

How to Write a Business Essay

Table of Contents

Business essays are a common type of task these days. Ones on the topics that are directly related to the industry are a favorite assignment of all professors. So academicians want to teach the students a complete sense of modern businesses and the procedures involved in various fields of it. In this article, you’ll take business essay guidelines from us regarding everything from the basic structuring of a business essay to the right way to introduce the topic, develop the context and discuss it in the body and finalizing everything in conclusion.

Start your business essay with a clear indication of the business field. Lead the discussion towards your thesis statement. Build the body of your essay with parts taken from the thesis statement. Sum up the entire contents of the paper in a way that the reader gets the gist of message in conclusion.

What Is a Business Essay

A business essay, as the name indicates, is an essay that discusses any issue related to the enterprising. Business is an operation or way of doing trade. Things that are necessarily included in every business essay are:

Mentioning of the business area.
History and economics significance of business.
A clear indication of who is the seller.
Name of the products and/or services that are exchanged for money in the business.
Mention of the target audience, market, or buyers.
Channels used by the seller to approach the buyers .
The rate at which the products and/or services are bought.
Strengths, weaknesses, opportunities, and threats of the business setup.
Strategies to mitigate the risks in business and to transform them into opportunities wherever possible.

All these points are discussed in the essay in a very structured way so you can indicate a logic and flow in the paper. Ideas are synthesized and organized in a way that their connection is evident, and one point leads to the other. The essay has a purpose and a target audience. The writing is adjusted to match the aim and needs of readers.

Easy Tips on How to Start a Business Essay

The most important section of a business essay is an introduction. This is the part that will catch readers attention in the paper. The most significant aspect of a good start is the topic. You may have two ways to get a theme – either your instructor decides on it for you or you are given a choice to develop your own. The second case is preferable as you get an opportunity to write on the issue you are interested in.

How to Write a Good Business Essay

A good essay has a defined and logical structure and evidence to support all ideas in it. Information contained in it is genuine and written in a way that makes it easily understandable for the readers. It’s critical to follow all the professor’s instructions strictly. If you write an excellent essay that’s 2000 words long while you were required to limit the writing to 1500 words – it won’t be considered so good. Even though it might be even better than what you’ll write in a 1500-word limit, you definitely won’t receive A mark for it.

So first of all, pay attention to the essay prompt and the requirements of your teacher. Secondly, draw information from reputable sources. Thirdly, check it properly before submitting for all kinds of mistakes. As you may write in a hurry, there can be grammar mistakes or misspelled words in the file. Don’t forget to eradicate them before uploading the file.

Some Easiest Yet Powerful Tips for Writing a Business Essay

You need to have a layout and approach in mind before you start writing. Yes, the finalization of the topic is a big step done, but you face an equally important step afterward, and that’s of developing its outline. Here are some business essay tips to get you set in the right direction:

Follow the prompts given by your teacher.
Read them several times to get familiar with them and memorize all parts of instructions.
First, develop an outline and then write your essay.
Don’t include several businesses issues in the essay unless that’s the requirement of the tutor.
Research chosen business field well before writing about it.
Do a SWOT (strengths, weaknesses, opportunities, and threats) analysis of business in the essay.
Proofread it thoroughly after you complete it.

Read more: 30 Business Essay Topic Ideas

How to Structure a Business Essay – The Best Approach

In any business essay definition of business is very important. Tell the readers right in the beginning which trade or field is the writing about. Try to research it well and interpret in your own words in the beginning.

After that, give the background of the topic in two to three lines, and direct the writing towards the thesis statement. Try to divide the body of the essay into three parts unless you have different guidelines from the teacher. There should be five paragraphs in total – one for introduction, three for the body-section, and the last one for the conclusion.

Here’s How to End a Business Essay – Conclusion

The end of your essay is no less important than the start. Try to put your suggestions or recommendations there. If it’s possible within the scope of your essay’s topic, mention a point or two to ponder for the readers as a final word.

Business Essay Outline – The Five Typical Parts

The outline should be based on five parts, as explained above. End your introduction with a thesis statement. Read it carefully and disintegrate into three points, that are equally important, weighty, and relevant to the topic. Build your topic sentences from those three points and place them at the beginning of your body paragraphs. The first statement of the conclusion should be rephrased thesis.

What’s the Right Business Essay Structure

The structure of an essay is like it’s like the backbone. No matter how well it is written, if there is a lack of balance between the various sections of the piece, the whole exercise may be deemed redundant. The right structure contains an introduction, body, and conclusion.

How to Make a Good Business Essay Introduction

It’s essential to write some context and background information about the topic in the introduction. You have to make the audience aware of preexisting knowledge about your business-related issue, and take the discussion from that point on to craft your essay. It is not a big work actually, but the whole paper depends on this information. So take sufficient time to finalize the best topic, and research it thoroughly to know all the surrounding information.

Important Points for Business Essay Body

The body consists of paragraphs with topic sentences as their first lines. Pay special attention to finding references for each point.

The Right Way to Write Business Essay Conclusion

Begin it with a rephrased thesis statement. Briefly mention all relevant points discussed in the body section . Leave a message to the readers with recommendations or points to ponder.

Take Our Help If You Still Have Any Problems

Writing business essays can present specific challenges to you. Even though this article provides you such detailed information about business essays that educates you on ways to successfully deal with all those challenges, you still have us for further help. Tell us your instructions – we’ll discuss the concept of business essays and tell you how to write them. Get your business essay help from custom essay writers right now!

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COMMENTS

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May 30, 2023 · Important Points for Business Essay Body. The body consists of paragraphs with topic sentences as their first lines. Pay special attention to finding references for each point. The Right Way to Write Business Essay Conclusion. Begin it with a rephrased thesis statement. Briefly mention all relevant points discussed in the body section. Leave a ...
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