Category: General Information – Miscellaneous

When one explores the concept of business, one will find wide interpretations of what constitutes the fundamentals of business that apply universally. One can find hundreds (if not thousands) of interpretations of such principles – every commentator attempts to put a unique spin on this to justify their value and contribution. The reason they are incorrect or inappropriate is that one can find legitimate contexts where the proposed principle doesn’t apply, therefore that principle isn’t universal. There are six fundamentals that apply in all business situations, are they are: 1. The business exists to further the objectives of its owners. When one examines the mission statement of many of the world’s leading corporations, one will inevitably find references to the satisfaction of stakeholder objectives. These references not only acknowledge the owners of the corporation, but often, also identify other stakeholders such as employees, the community, the government, suppliers, and of…