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Sagot :
A business's success depends on four key factors: financing, location, management, and competition.
What is business?
- The practice of earning a living or generating revenue via the production, acquisition, and sale of items is known as business (such as goods and services).
- Additionally, it includes "any activity or enterprise undertaken for profit."
- The owner of the business is responsible and liable for any obligations made by the business since the business entity is not legally distinguished from the owner by the use of a business name.
What do you mean by Competition.
- Competition is uncertainty as to how to ensure survival.
- Competition can arise between entities such as organisms, individuals, economic and social groups, etc.
- The rivalry can be over the attainment of any exclusive goal, including recognition: (e.g. awards, goods, mates, status, prestige), leadership, market share, niches, and scarce resources, or a territory.
Learn more about business here:
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