introduction for essay about business organization

How to Write a Business Essay for Impactful Communication and Analysis

So, you've got a business essay coming up, and you're feeling a mix of excitement and a tad bit overwhelmed, right? Totally get it. Writing a business essay might sound boring, but trust me, it's a skill that's gonna come in handy when you're out there in the real world.

In this article, we're dishing out some awesome tips just for you. Think of it as your secret weapon to tackle those business essays like a pro. We'll keep it real, easy, and super practical – no fancy jargon or complicated theories. Let's dive into the world of business essay writing, where your words can make a big impact. In case you lack time or motivation to finish your assignment, use our business essay writing service to streamline the process.

What Is a Business Essay

Business essays are written pieces that explore and analyze various aspects of business-related topics, often focusing on management, marketing, finance, or entrepreneurship. They provide a platform for students and professionals to articulate their understanding of business concepts, theories, and real-world applications. Typically written in a formal and structured manner, a business essay requires critical thinking, research skills, and the ability to communicate ideas effectively. Whether delving into case studies, discussing industry trends, or evaluating business strategies, the essay aims to provide insights, draw conclusions, and contribute to a deeper understanding of the dynamic world of business.

How to Write an Introduction for a Business Essay

A business essay introduction sets the tone for the entire paper and captures the reader's attention. Here are some steps and tips to help you write an effective introduction for a business essay:

• Understand the Purpose of the Introduction

Clearly understand the purpose of your essay. Are you providing an overview of a business concept, analyzing a case study, or arguing a specific point? Tailor your introduction accordingly.

• Start with a Hook

Grab the reader's attention with a compelling hook. This could be a relevant quote, a surprising fact, a rhetorical question, or a thought-provoking statement. The goal is to make the reader want to continue reading.

• Provide Context

After the hook, provide some background or context related to the topic of your essay. Help the reader understand the significance and relevance of the subject matter in the business world.

• Thesis Statement

Clearly state your thesis or the main argument of your essay. This should be a concise and focused statement that outlines what the reader can expect from the rest of the essay. Make sure it is specific and reflects the purpose of your writing.

• Outline the Scope

Briefly outline the main points or areas that your essay will cover. This gives the reader a roadmap of what to expect and helps them understand the structure of your essay.

• Use Clear and Concise Language

Keep your introduction clear and concise. Avoid unnecessary jargon or complex language that might confuse the reader. Aim for clarity and precision.

• Be Relevant

Ensure that every sentence in your introduction is directly related to the topic of your essay. Avoid going off on tangents or providing excessive information that doesn't contribute to the main points.

• Consider the Tone

Choose a tone that is appropriate for your audience and the nature of your essay. Business essays can vary in tone, from formal and academic to more conversational, depending on the context.

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Business Essay Introduction Example

Here’s an example of an introduction for an essay titled “The Rise of E-commerce: Shaping the Future of Retail”:

The retail landscape is undergoing a seismic shift as e-commerce continues to redefine the way consumers shop. In this essay, we explore the profound implications of this digital transformation on traditional retail models and analyze the key strategies businesses are employing to thrive in this dynamic environment. From changing consumer behaviors to the strategic use of technology, the impact of e-commerce on the retail sector is undeniable, prompting businesses to adapt or face the risk of obsolescence.

How to Write a Business Essay

Working on a business essay might seem daunting, but it doesn't have to be. In this guide, we'll break down the process into simple steps to help you navigate through it smoothly. In this next section. We’ll be breaking down the essentials of drawing up a business essay from start to finish. From defining your main argument to structuring your points effectively, let's explore the key strategies that will set you on the path to success. 

Analyze the Prompt

Start by carefully reading and understanding the essay prompt. This involves breaking down the question to grasp what it's asking for, identifying the main topics, and recognizing any specific tasks or points to cover. This step helps you set the stage for a focused and relevant essay by ensuring you address all aspects mentioned in the prompt. You can hire a business essay writer to expedite the process if you want.

Think of a Thesis Statement

When writing a business essay, think of the thesis statement as the essay's compass. It should be a concise, strong sentence that lays out your main argument or viewpoint on the topic. Your thesis guides the entire essay, so make sure it's specific, debatable, and gives readers a clear idea of what to expect in your writing.

Create an Outline

We’ve already shared tips on how to write an introduction for a business essay, so let’s move on to the next stages. Organize your thoughts by outlining the main points and structure of your essay. This doesn't have to be too detailed; just a roadmap that helps you see how different ideas connect. An outline ensures a logical flow in your writing and prevents you from going off track. By the way, have you already picked business essay topics ? If not, here’s a list of great ideas you can use!

Provide Topic Background

Before diving into your main points, the business essay writing format implies giving your reader some context about the topic. Briefly introduce the key concepts, relevant facts, or historical background that will help readers understand the importance and relevance of your essay.

Write the Main Body

Start developing your essay by expanding on the main points outlined in your thesis. Each paragraph should focus on a specific idea or argument supported by evidence or examples. Be clear and concise, ensuring a smooth transition between paragraphs. It’s the most difficult part of the assignment, meaning you can use our college essay service to simplify it.

Write a Conclusion

Summarize your key points and conclusively restate your thesis. The conclusion should tie up the loose ends and leave a lasting impression on the reader. Avoid introducing new information but rather reinforce your main argument. For more details about how to write a conclusion for an essay , please refer to our guide.

Add a Bibliography

List all the sources you used in your research. Be meticulous about citing your references properly, following the chosen format (APA, MLA, etc.). This adds credibility to your essay and avoids plagiarism issues.

Edit and Proofread

As you’ve learned how to write a business essay, it’s time to master the art of self-revising. Review your essay for clarity, coherence, and grammatical errors. Editing ensures that your ideas flow smoothly, and proofreading catches any overlooked mistakes. It's a crucial step to polish your essay and present a professional piece of writing. Do you have another assignment on business management ? This guide will help you!

Choose the Writing Format

Reiterate the importance of selecting and adhering to the chosen writing format throughout the essay. Consistency in formatting, citations, and other style elements contributes to the overall professionalism of your work.

Business Essay Example

Business essay examples offer practical assistance to students tackling assignments by showcasing the application of essential writing principles in a real-world context. As a tangible reference, it demonstrates an effective essay structure and how to formulate a clear thesis statement and provide coherent arguments. By examining examples, students can glean insights into research techniques, proper citation practices, and overall essay organization, empowering them to approach their business assignments with increased confidence and proficiency.

Example 1: “The Impact of Technological Advancements on Modern Business Operations”

This essay explores the multifaceted impact of technology on operational efficiency, innovation, customer relations, and global connectivity. From integrating automation and artificial intelligence for streamlined processes to facilitating global expansion through digital platforms, technology emerges as a driving force shaping the success and sustainability of contemporary enterprises. While acknowledging the numerous benefits, the essay also highlights the challenges and ethical considerations inherent in adopting these technologies, emphasizing the need for businesses to navigate these complexities responsibly for long-term growth and competitiveness.

Example 2: “Sustainable Business Practices: A Strategic Imperative for Corporate Success”

This essay explores the pivotal role of sustainable business practices as a strategic imperative for corporate success in the contemporary entrepreneurship scene. Addressing environmental concerns, social consciousness, and economic viability, the essay delves into the multifaceted benefits of adopting sustainable approaches. It discusses how businesses can align profitability with responsible practices, emphasizing environmental stewardship, social impact, and community engagement. The essay underscores the importance of regulatory compliance and risk mitigation in business by examining the economic advantages and innovation opportunities arising from sustainable initiatives.

Final Considerations

Students engage in writing business essays to develop essential skills and knowledge crucial for success in the professional world. These essays serve as a platform for honing critical thinking, analytical, and communication skills, allowing students to articulate and analyze complex business concepts. Through the process of researching, organizing thoughts, and constructing coherent arguments, students gain a deeper understanding of business principles and practices. Business essays also cultivate the ability to synthesize information, evaluate various perspectives, and present well-reasoned conclusions. If you find with task troublesome, you can always tell us, ‘ write my research paper ,’ and one of our wordsmiths will fulfill the assignment quickly.

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How Many Paragraphs Does a Business Essay Have?

What is the most important part of a business essay, how do you start off a business essay, related articles.

Business Essay Introduction – Everything You Need To Know

Want to know business essay introduction then you are at the right place. Here we will discuss everything you need to know about business essay introduction. On the other hand, a business essay is a type of writing that presents an argument or analysis related to a specific business topic. It is a critical component of any business curriculum as it helps students develop their analytical and writing skills, which are essential in the business world. A business essay can be written on various topics, including marketing, finance, management, and entrepreneurship, among others.

In this blog, we will discuss the essential elements of a business essay introduction. The introduction is the first part of the essay that the reader encounters. Therefore, it should be engaging, informative, and persuasive. The introduction sets the tone for the rest of the essay and should capture the reader’s attention.

What is a Business Essay and Why is it Important?

Table of Contents

A business essay is an academic or professional piece of writing that discusses a specific aspect of the business world. It may focus on topics such as marketing, finance, management, entrepreneurship, or any other area related to the field of business. Business essays may be assigned as coursework in a business degree program or may be written by professionals for publication in industry-specific journals.

Business essays are important for several reasons. Firstly, they provide a platform for the discussion of critical issues facing the business world. By analyzing and discussing these issues, business essays can help individuals and organizations to develop better strategies and approaches to solving problems.

Secondly, business essays are a valuable tool for education and professional development. They help students and professionals to develop their understanding of complex business concepts and to improve their analytical and writing skills. Through the process of researching and writing a business essay, individuals can develop a deeper understanding of the subject matter and gain new insights into the challenges facing the business world.

Thirdly, business essays are important for thought leadership and innovation. By publishing thought-provoking and insightful essays, business professionals can contribute to the advancement of their field and help to shape the direction of future research and development.

Finally, business essays are important for sharing knowledge and best practices across the business community. By sharing their insights and experiences, business professionals can help others to learn from their successes and failures, and to apply these lessons to their own organizations.

Role of Business Essay Introduction

The introduction is a critical component of any business essay, setting the tone for the rest of the paper and providing the reader with a clear understanding of the purpose and scope of the essay. A good introduction should grab the reader’s attention, provide background information, state the thesis, outline the essay, persuade the reader, explain the importance of the topic, and provide information on the scope of the essay.

In the world of business, effective communication is essential for success. Whether you are communicating with customers, employees, or other stakeholders, the ability to convey your message clearly and concisely is critical. Business essays provide a platform for individuals and organizations to explore and discuss critical issues facing the business world, helping to develop better strategies and approaches to solving problems.

In this essay, we will examine the role of effective communication in the business world and explore the various strategies and tools that individuals and organizations can use to improve their communication skills. We will also discuss the importance of communication in different areas of business, including marketing, management, and entrepreneurship.

Through this analysis, we will demonstrate how effective communication can drive success in the business world, helping organizations to achieve their objectives and compete in a rapidly changing global marketplace. By focusing on the importance of communication in the business context, this essay aims to provide valuable insights and practical strategies for individuals and organizations seeking to improve their communication skills and succeed in the dynamic world of business.

The Importance Of A Business Essay Introduction

The introduction is a crucial part of any essay as it provides the reader with an overview of what to expect in the rest of the paper. A good introduction should:

1. Grab the reader’s attention

The introduction should be engaging and capture the reader’s attention. It should be interesting enough to make the reader want to continue reading the essay.

2. Provide background information

The introduction should provide some background information on the topic. This information helps the reader understand the context of the essay.

3. State the thesis

The introduction should state the thesis or the main argument of the essay. This statement helps the reader understand the purpose of the essay.

4. Outline the structure

The introduction should outline the structure of the essay. This information helps the reader understand the flow of the essay.

5. Persuade the reader

The introduction should be persuasive. It should convince the reader that the essay is worth reading.

Elements Of A Business Essay Introduction

The introduction of a business essay should include the following elements:

1. Attention-grabbing opening sentence

The introduction should start with an attention-grabbing sentence that captures the reader’s attention. This sentence could be a quote, a statistic, or an anecdote related to the topic.

2. Background information

The introduction should provide some background information on the topic. This information could include the history of the topic, current trends, or relevant facts and figures.

3. Thesis statement

The introduction should state the thesis or the main argument of the essay. The thesis statement should be clear and concise.

4. Outline of the essay

The introduction should provide an outline of the essay. This outline could include the main points that will be discussed in the essay.

5. Importance of the topic

The introduction should explain why the topic is important. This explanation could include the relevance of the topic to the business world, the impact of the topic on society, or the significance of the topic to the reader.

6. Scope of the essay

The introduction should also provide information on the scope of the essay. This information could include the specific aspects of the topic that will be discussed in the essay.

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Examples Of Business Essay Introductions

Example 1: marketing.

Marketing is a critical component of any business strategy. It is the process of identifying and satisfying customer needs through the creation and delivery of value. In today’s competitive business environment, companies that fail to market their products effectively risk losing market share to their competitors. This essay will discuss the importance of marketing in business and the various strategies that companies can use to market their products.

Example 2: Finance

Finance is the backbone of any business. It is the process of managing money and investments to ensure the financial stability and growth of a company. In today’s complex business environment, companies need to have a solid financial strategy to remain competitive. This essay will discuss the role of finance in business and the various financial strategies that companies can use to achieve their financial objectives.

Example 3: Management

Management is the process of planning, organizing, and controlling resources to achieve specific goals. Effective management is critical to the success of any business, as it ensures that the company’s resources are used efficiently and effectively. This essay will discuss the importance of management in business and the various management strategies that companies can use to achieve their objectives. We will also explore the different management styles and their impact on organizational performance.

Example 4: Entrepreneurship

Entrepreneurship is the process of creating, developing, and managing a new business venture. It involves identifying a business opportunity, developing a business plan, and securing the necessary resources to start and grow the business. This essay will discuss the importance of entrepreneurship in the modern business world and the different entrepreneurial strategies that individuals can use to start and grow their businesses. We will also explore the challenges and opportunities that entrepreneurs face in today’s dynamic business environment.

Benefits of Writing a Good Business Introduction

Writing a good business essay introduction has several benefits, including:

1. Capturing the reader’s attention

A well-written introduction grabs the reader’s attention and encourages them to read further. This is especially important in a business context where attention to detail is critical.

2. Communicating the purpose of the essay

The introduction states the main argument or thesis of the essay, giving the reader a clear understanding of what to expect in the rest of the paper.

3. Setting the tone

The introduction sets the tone for the essay, providing a framework for the rest of the writing. This helps the reader to understand the author’s perspective and approach to the topic.

4. Outlining the structure of the essay

The introduction outlines the structure of the essay, providing the reader with a roadmap of the points that will be covered in the paper. This helps the reader to understand the flow of the essay and to follow the argument logically.

5. Providing context

The introduction provides context for the topic, explaining why it is important and relevant to the business world. This helps the reader to understand the significance of the topic and to engage with the content.

6. Persuading the reader

A well-written introduction is persuasive, encouraging the reader to take the author’s perspective seriously and to engage with the content. This is important in a business context, where the ability to persuade others is a key skill.

7. Demonstrating writing skills

Writing a good business essay introduction demonstrates the author’s writing skills, including their ability to organize ideas, use appropriate language, and communicate effectively. This is important in a business context, where clear and concise communication is critical.

In conclusion, the introduction is a critical component of any business essay. It sets the tone for the rest of the essay and should be engaging, informative, and persuasive. A good introduction should grab the reader’s attention, provide background information, state the thesis, outline the essay, persuade the reader, explain the importance of the topic, and provide information on the scope of the essay. By following these guidelines, writers can create effective business essay introductions that will engage their readers and provide them with valuable insights into the topic being discussed.

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Business Organization, Essay Example

Pages: 2

Words: 596

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You are free to use it as an inspiration or a source for your own work.

When creating a business there are many factors that need to be sorted. One of the most important factors in creating a business is determining the business organization. The type of business organization determines the structure or foundation which best fits the new company. Each group or individual has different objectives and may feel a certain type of business structure suits their business best. The first factor in deciding the business form and structure is the knowing what the size of the company will be. This factor ties into the individual needs of the owner, if they are looking for a partner, a group, or they want to work it alone. This is extremely important when figuring out legal liability. The essential reasoning in incorporating the business is to protect the personal assets. Financing and liabilities go hand in hand, and when they are smaller they might require a small business loan, or investment. Knowing the type of business structure can protect the owners from liability and risks. Taxes is also essential as the implications are needed when filing as a corporation, sole proprietorship, or partnership.

Business structure is also important is the type of expenses that need to pay when starting your business, and fees they pay each year. When determining the business structure there are four main business structures that include partnerships that protects the partner when either drafting a partner agreement that reports income and losses for each tax return so that it won’t be doubled. Partnerships doesn’t require a lot of paperwork from the state or federal government. Corporations are another business structure that corporations that are more costly than any other form of business structure. It is also difficult to maintain, taxed on income and required to file tax returns. Not only are difficult to navigate to the untrained owner, federal agencies carry stiff regulations and requirements that corporations must meet in order to operate unlike partnerships that operate like a sole proprietorship which is easy.

Stock Ratios

One of the most important stock ratio that assess the performance of the ratio is by the payout ratio. The payout ratio is considered one of the most influential ratio for companies to value their stock and cost of capital. These ratios are generally referred to as rates on return. The stock ratios measures the profitability of stock by their return on assets and their return on equity. Each ratio takes into account the total average assets and the stockholder’s equity. Equity and assets are the two common measures used to determine book value. Return on investment is a commons stock ratio used when calculating the money a company has gained or lost on an investment or stock.

Risks are very important to potential investors. They have to look at stock and maeausre if in the long run or the short run the stock will be successful or fell. Investors used several mechanism such as stock ratios in order to help value the risks if a stock price is too high. The stock market ratio commonly used is the price/earnings stock ratio that compares the current prices of the stock to its per-share earnings. The ratio calculates dividing the two factor then gauges thee value of the stock. The price earnings ratio generally reflects the expectations of the stock future prospects. When the stock has a high price to earnings ratio compared to other similar stocks, the investors can view the stock as being overvalued, unless the stock is viewed as worth the money in the future, and more importantly what the stock could be worth.

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• Jul 6, 2023

A Comprehensive Guide to Writing a Business Studies Essay with Examples

Introduction.

Writing a business studies essay may seem a daunting task, especially if you're new to the field. The complex concepts, frameworks, and jargon used in business studies often intimidate students. However, with the right approach and structure, you can craft an impressive essay that clearly communicates your argument. Here's a step-by-step guide on how to write a business studies essay, featuring examples to illustrate each step.

I. Introduction

The introduction serves as the roadmap for your essay, providing the reader with a snapshot of what to expect. It typically consists of three parts

a hook, an overview of the topic, and a thesis statement.

Start your essay with an interesting fact or statistic to capture your reader's attention. For instance, if you're writing an essay about digital marketing, your hook could be something like

"With over 4.66 billion active internet users worldwide, the digital marketplace is a field that businesses can't afford to ignore."

Overview of the Topic

Following the hook, provide some background information about the business topic. For the digital marketing example, you might explain what digital marketing is and why it has become essential in today's business world.

Thesis Statement

Finally, present your thesis statement, which is the main argument or point your essay will address. an example could be.

"Despite the evident benefits, many businesses still struggle to implement effective digital marketing strategies; this essay will explore the reasons behind these challenges and propose potential solutions."

II. Contextual Background (Optional)

The contextual background provides an industry overview, discusses key trends, and describes the topic's relevance. For instance, in the digital marketing essay, you could discuss how the industry has evolved over the years, identify the trends shaping the current digital marketing landscape, and explain why it's crucial to businesses today.

III. Main Body

The main body is where you present your arguments, each in its own paragraph. This typically includes a topic sentence, explanation, evidence, and a link back to the thesis.

Main Point 1

The topic sentence for the first argument in our digital marketing essay could be.

"Lack of technical knowledge is a significant barrier to implementing effective digital marketing strategies." You'd then explain this point in detail, highlighting relevant theories and models. For evidence, you might cite research studies showing how technical skills gaps affect businesses' digital marketing efforts. Finally, link this back to your thesis by stating how this supports your argument about the challenges businesses face in digital marketing.

Repeat this structure for your other main points. For example, your next points might discuss lack of understanding of digital marketing strategy and inadequate budget allocation.

IV. Counter Argument (If Necessary)

In some cases, you might need to address a counter argument. This involves stating the counter argument, and then providing your rebuttal. For instance, a counter argument to your digital marketing essay could be that

"Even small businesses with limited resources have successfully implemented digital marketing strategies."

You could rebut this by explaining that while this is true, such success often hinges on strategic use of limited resources, which again requires a deep understanding of digital marketing.

V. Conclusion

The conclusion summarises your main points, restates your thesis in light of your arguments, discusses implications, and leaves the reader with a final thought. For the digital marketing essay, you might summarise by saying,

"Technical knowledge, strategic understanding, and adequate budget allocation are key hurdles to effective digital marketing."

Restate your thesis and then discuss the implications of your findings, like the need for businesses to invest in training and strategy development.

You could leave your reader with a question to ponder, such as

"As digital marketing continues to evolve, how can businesses ensure they stay ahead of the curve?"

VI. References

Every academic essay must include references. These are all the sources you've cited in your essay, listed according to the citation style specified by your professor or institution. For example, using the APA style, a reference entry might look like this

"Kumar, V., & Rajan, B. (2012). Social coupons as a marketing strategy a multifaceted perspective. Journal of the Academy of Marketing Science, 40(1), 120-136."

VII. Appendix (If Necessary)

The appendix is where you include any additional information, charts, diagrams, or tables that support your essay but couldn't be included in the main body. For instance, you might include detailed statistical data or a complex digital marketing framework that you discussed briefly in your essay.

Writing a business studies essay involves careful planning, critical thinking, and clear communication. It's about presenting your arguments coherently and convincingly, supported by evidence from reputable sources. With practice and adherence to the structure presented in this guide, you'll be well-equipped to produce high-quality business studies essays.

Remember, this guide provides a general structure for writing a business studies essay. Your essay's specific requirements may vary depending on the assignment instructions or the preferences of your professor or institution. Always make sure you fully understand the assignment requirements before you start writing.

Part 2: How to Write Business Studies Essays at A-Level

Tips with examples.

Mastering essay writing at A-Level for business studies requires understanding key concepts, effective planning, and good writing skills. Here are some helpful tips and examples.

1. Understand the Question

Start by carefully reading and understanding the essay question. It could be asking you to analyze, evaluate, discuss, or compare. Knowing exactly what is expected helps guide your research and writing. For example, if you are asked to 'Evaluate the effectiveness of market segmentation as a marketing strategy,' your essay should not only explain what market segmentation is, but also assess its strengths, weaknesses, and overall effectiveness as a marketing strategy.

2. Plan Your Essay

Before you start writing, draft a plan outlining your main points. This should include your introduction, main body points, counter-arguments (if necessary), and conclusion.

3. Use a Clear Structure

Each paragraph should focus on one main point, and follow the PEEL structure (Point, Explanation, Evidence, Link).

State the main idea of the paragraph. E.g.,

"Market segmentation allows companies to target specific customer groups."

Explanation

Elaborate on your point using relevant theories or concepts. E.g.,

"This is based on the concept that different customer groups have different needs and preferences..."

Back up your point with evidence, such as case studies, statistics, or quotes. E.g.,

"A report by McKinsey found that companies using advanced segmentation strategies have grown their market share by 10%..."

Connect your point back to the essay question or your thesis. E.g.,

"Thus, market segmentation can be an effective strategy for businesses seeking to increase market share."

4. Use Real Business Examples

A-Level business studies essays often require real-world examples to demonstrate understanding of concepts and theories. If your essay topic is about corporate social responsibility (CSR), for instance, you could cite companies known for their CSR efforts, like Patagonia or Ben & Jerry's.

5. Be Critical

A-Level essays need to show critical thinking, not just summarizing information. This could mean assessing the pros and cons of a business strategy, analyzing a business model's implications, or evaluating a theory's relevance.

6. Practice Conciseness

Business studies value clarity and conciseness. Avoid jargon and overly complex sentences. Make your points as clear and straightforward as possible.

7. Proofread

Always proofread your essay before submission. Check for grammatical errors, unclear sentences, and ensure all your points clearly relate to the essay question.

Here's an extract from an A-Level business studies essay to illustrate

"A key strength of market segmentation is its potential to enhance a company's competitive advantage (Point). By tailoring products or services to specific customer groups, companies can better meet customers' unique needs and wants, thus differentiating themselves from competitors (Explanation). For example, Nike has successfully used geographic segmentation to create sports apparel that suits different climates, gaining a significant competitive advantage in the global sportswear market (Evidence). Therefore, market segmentation can play a vital role in strengthening a company's position in the marketplace (Link)."

In this example, the student follows the PEEL structure, uses a real business example (Nike), and links the point back to the thesis. By following these tips and examples, you can improve your A-Level business studies essay writing skills.

Part 3: How to Write Business Studies Essays at O-Level and GCSE

Writing business studies essays at O-Level and GCSE can be challenging, but with the right strategy and approach, you can excel. Here are some tips, with examples and essay extracts, to help you.

The first step is to understand the question. Is it asking you to explain, describe, or discuss a certain topic? Make sure you understand what's expected before you start writing. For example, if the question asks you to 'Discuss the role of communication in effective management,' your essay should address the various ways communication contributes to successful management.

Plan your essay by noting down your key points, evidence to support these points, and how they all link to the essay question. This will help keep your essay organized and focused.

A well-structured essay typically includes an introduction, main body, and conclusion. The PEEL structure (Point, Explanation, Evidence, Link) is particularly useful for the main body of the essay

Start with the main point or idea of the paragraph. E.g., "Effective communication aids in conflict resolution within an organization."

Expand on your point with further explanation or detail. E.g., "When team members can express their views openly and leaders listen, conflicts can be resolved more smoothly..."

Use evidence to back up your point. This can be from case studies, statistics, or relevant examples. E.g., "A study by CMI found that companies with open communication policies have significantly lower rates of internal conflict..."

Finally, link your point back to the essay question or your overall argument. E.g., "Therefore, effective communication is integral to successful management."

4. Use Business Terminology

Using appropriate business terminology shows your understanding of the subject. For instance, terms like 'market share', 'return on investment', or 'organizational culture' can enhance your essay's credibility.

5. Include Real-World Examples

Real-world business examples can strengthen your arguments and demonstrate your understanding of how business concepts apply in practice. For instance, if your essay is about innovation, you could mention companies like Apple or Tesla.

Clarity and conciseness are important in business studies. Avoid unnecessary jargon and aim for clear, straightforward sentences.

Always proofread your essay before submitting it. Check for grammatical errors and ensure that your points are clearly presented and logically connected.

Here's an extract from an O-Level/GCSE business studies essay for illustration

"One major advantage of effective communication is it facilitates decision-making within an organization (Point). Clear and open communication allows for the easy flow of information, ensuring everyone understands their roles and responsibilities, and what is expected of them (Explanation). For example, Google's practice of holding regular 'TGIF' meetings, where executives answer employee questions, has been credited for fostering transparency and aiding decision-making processes (Evidence). Thus, communication is a critical tool for effective management, impacting key areas like decision-making (Link)."

This example follows the PEEL structure, includes a real-world business example (Google), and links the point back to the overall essay topic. By using these tips and examples, you can enhance your O-Level and GCSE business studies essay writing skills.

Evaluate the impact of digital technology on the marketing strategies of modern businesses

Introduction The integration of digital technology in the business world has dramatically altered the landscape of marketing. Today's businesses need to engage with customers not only in physical stores but also online. This essay will evaluate the impact of digital technologies, including social media, SEO, and Big Data, on marketing strategies of modern businesses. Body Paragraph 1: Social Media Digital technology has introduced a variety of social media platforms such as Facebook, Instagram, and LinkedIn, which have significantly influenced marketing strategies. Social media allows businesses to reach a global audience at lower costs compared to traditional advertising methods. For instance, Coca-Cola's "Share a Coke" campaign, primarily driven through social media, resulted in a 2% increase in U.S. sales, demonstrating the power of social media in driving brand engagement. Paragraph 2: SEO Search engine optimization (SEO) is another digital technology that shapes contemporary marketing strategies. SEO involves improving a website’s visibility on search engines like Google, which can significantly enhance a business's online presence. An example is Airbnb, which used SEO to increase its visibility, contributing to a 153% increase in organic traffic to their site within a year. Paragraph 3: Big Data Big Data is changing the way businesses understand and engage with their customers. By collecting and analyzing large amounts of customer data, businesses can create personalized marketing strategies. Amazon, for instance, uses Big Data to provide personalized product recommendations, contributing to a significant portion of its revenues. Counter-argument: The Challenges Despite the benefits, digital technology also presents challenges. Privacy concerns are increasingly prevalent, with businesses needing to balance effective marketing with respecting consumer privacy. For example, Facebook has faced backlash and legal challenges for its use of personal data in targeted advertising. Moreover, the digital marketing landscape is highly competitive, and businesses must continuously innovate to stay ahead. Conclusion In conclusion, digital technology has a profound impact on modern marketing strategies. It provides businesses with powerful tools to reach and understand their customers better. However, these tools also come with challenges, such as privacy issues and intense competition. Thus, businesses must navigate these issues carefully while leveraging digital technologies to optimize their marketing strategies. References [Here you would include a list of all the sources you used in your essay, in the appropriate citation style] Note: The references are not included in this example, but in a real essay, you would need to cite all the sources of your information.

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Business Essay Examples

13 Business Essay Examples for Students

14 min read

Published on: May 1, 2023

Last updated on: Jan 30, 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.

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, 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.

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 a 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.  

So why wait? Contact us today and let our AI essay writer take your business essays to the next level!

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• How to structure an essay: Templates and tips

How to Structure an Essay | Tips & Templates

Published on September 18, 2020 by Jack Caulfield . Revised on July 23, 2023.

The basic structure of an essay always consists of an introduction , a body , and a conclusion . But for many students, the most difficult part of structuring an essay is deciding how to organize information within the body.

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Table of contents

The basics of essay structure, chronological structure, compare-and-contrast structure, problems-methods-solutions structure, signposting to clarify your structure, other interesting articles, frequently asked questions about essay structure.

There are two main things to keep in mind when working on your essay structure: making sure to include the right information in each part, and deciding how you’ll organize the information within the body.

Parts of an essay

The three parts that make up all essays are described in the table below.

Order of information

You’ll also have to consider how to present information within the body. There are a few general principles that can guide you here.

The first is that your argument should move from the simplest claim to the most complex . The body of a good argumentative essay often begins with simple and widely accepted claims, and then moves towards more complex and contentious ones.

For example, you might begin by describing a generally accepted philosophical concept, and then apply it to a new topic. The grounding in the general concept will allow the reader to understand your unique application of it.

The second principle is that background information should appear towards the beginning of your essay . General background is presented in the introduction. If you have additional background to present, this information will usually come at the start of the body.

The third principle is that everything in your essay should be relevant to the thesis . Ask yourself whether each piece of information advances your argument or provides necessary background. And make sure that the text clearly expresses each piece of information’s relevance.

The sections below present several organizational templates for essays: the chronological approach, the compare-and-contrast approach, and the problems-methods-solutions approach.

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The chronological approach (sometimes called the cause-and-effect approach) is probably the simplest way to structure an essay. It just means discussing events in the order in which they occurred, discussing how they are related (i.e. the cause and effect involved) as you go.

A chronological approach can be useful when your essay is about a series of events. Don’t rule out other approaches, though—even when the chronological approach is the obvious one, you might be able to bring out more with a different structure.

Explore the tabs below to see a general template and a specific example outline from an essay on the invention of the printing press.

• Thesis statement
• Discussion of event/period
• Consequences
• Importance of topic
• Strong closing statement
• Claim that the printing press marks the end of the Middle Ages
• Background on the low levels of literacy before the printing press
• Thesis statement: The invention of the printing press increased circulation of information in Europe, paving the way for the Reformation
• High levels of illiteracy in medieval Europe
• Literacy and thus knowledge and education were mainly the domain of religious and political elites
• Consequence: this discouraged political and religious change
• Invention of the printing press in 1440 by Johannes Gutenberg
• Implications of the new technology for book production
• Consequence: Rapid spread of the technology and the printing of the Gutenberg Bible
• Trend for translating the Bible into vernacular languages during the years following the printing press’s invention
• Luther’s own translation of the Bible during the Reformation
• Consequence: The large-scale effects the Reformation would have on religion and politics
• Summarize the history described
• Stress the significance of the printing press to the events of this period

Essays with two or more main subjects are often structured around comparing and contrasting . For example, a literary analysis essay might compare two different texts, and an argumentative essay might compare the strengths of different arguments.

There are two main ways of structuring a compare-and-contrast essay: the alternating method, and the block method.

Alternating

In the alternating method, each paragraph compares your subjects in terms of a specific point of comparison. These points of comparison are therefore what defines each paragraph.

The tabs below show a general template for this structure, and a specific example for an essay comparing and contrasting distance learning with traditional classroom learning.

• Synthesis of arguments
• Topical relevance of distance learning in lockdown
• Increasing prevalence of distance learning over the last decade
• Thesis statement: While distance learning has certain advantages, it introduces multiple new accessibility issues that must be addressed for it to be as effective as classroom learning
• Classroom learning: Ease of identifying difficulties and privately discussing them
• Distance learning: Difficulty of noticing and unobtrusively helping
• Classroom learning: Difficulties accessing the classroom (disability, distance travelled from home)
• Distance learning: Difficulties with online work (lack of tech literacy, unreliable connection, distractions)
• Classroom learning: Tends to encourage personal engagement among students and with teacher, more relaxed social environment
• Distance learning: Greater ability to reach out to teacher privately
• Sum up, emphasize that distance learning introduces more difficulties than it solves
• Stress the importance of addressing issues with distance learning as it becomes increasingly common
• Distance learning may prove to be the future, but it still has a long way to go

In the block method, each subject is covered all in one go, potentially across multiple paragraphs. For example, you might write two paragraphs about your first subject and then two about your second subject, making comparisons back to the first.

The tabs again show a general template, followed by another essay on distance learning, this time with the body structured in blocks.

• Point 1 (compare)
• Point 2 (compare)
• Point 3 (compare)
• Point 4 (compare)
• Advantages: Flexibility, accessibility
• Disadvantages: Discomfort, challenges for those with poor internet or tech literacy
• Advantages: Potential for teacher to discuss issues with a student in a separate private call
• Disadvantages: Difficulty of identifying struggling students and aiding them unobtrusively, lack of personal interaction among students
• Advantages: More accessible to those with low tech literacy, equality of all sharing one learning environment
• Disadvantages: Students must live close enough to attend, commutes may vary, classrooms not always accessible for disabled students
• Advantages: Ease of picking up on signs a student is struggling, more personal interaction among students
• Disadvantages: May be harder for students to approach teacher privately in person to raise issues

An essay that concerns a specific problem (practical or theoretical) may be structured according to the problems-methods-solutions approach.

This is just what it sounds like: You define the problem, characterize a method or theory that may solve it, and finally analyze the problem, using this method or theory to arrive at a solution. If the problem is theoretical, the solution might be the analysis you present in the essay itself; otherwise, you might just present a proposed solution.

The tabs below show a template for this structure and an example outline for an essay about the problem of fake news.

• Introduce the problem
• Provide background
• Describe your approach to solving it
• Define the problem precisely
• Describe why it’s important
• Indicate previous approaches to the problem
• Present your new approach, and why it’s better
• Apply the new method or theory to the problem
• Indicate the solution you arrive at by doing so
• Assess (potential or actual) effectiveness of solution
• Describe the implications
• Problem: The growth of “fake news” online
• Prevalence of polarized/conspiracy-focused news sources online
• Thesis statement: Rather than attempting to stamp out online fake news through social media moderation, an effective approach to combating it must work with educational institutions to improve media literacy
• Definition: Deliberate disinformation designed to spread virally online
• Popularization of the term, growth of the phenomenon
• Previous approaches: Labeling and moderation on social media platforms
• Critique: This approach feeds conspiracies; the real solution is to improve media literacy so users can better identify fake news
• Greater emphasis should be placed on media literacy education in schools
• This allows people to assess news sources independently, rather than just being told which ones to trust
• This is a long-term solution but could be highly effective
• It would require significant organization and investment, but would equip people to judge news sources more effectively
• Rather than trying to contain the spread of fake news, we must teach the next generation not to fall for it

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Signposting means guiding the reader through your essay with language that describes or hints at the structure of what follows.  It can help you clarify your structure for yourself as well as helping your reader follow your ideas.

The essay overview

In longer essays whose body is split into multiple named sections, the introduction often ends with an overview of the rest of the essay. This gives a brief description of the main idea or argument of each section.

The overview allows the reader to immediately understand what will be covered in the essay and in what order. Though it describes what  comes later in the text, it is generally written in the present tense . The following example is from a literary analysis essay on Mary Shelley’s Frankenstein .

Transitions

Transition words and phrases are used throughout all good essays to link together different ideas. They help guide the reader through your text, and an essay that uses them effectively will be much easier to follow.

Various different relationships can be expressed by transition words, as shown in this example.

Because Hitler failed to respond to the British ultimatum, France and the UK declared war on Germany. Although it was an outcome the Allies had hoped to avoid, they were prepared to back up their ultimatum in order to combat the existential threat posed by the Third Reich.

Transition sentences may be included to transition between different paragraphs or sections of an essay. A good transition sentence moves the reader on to the next topic while indicating how it relates to the previous one.

… Distance learning, then, seems to improve accessibility in some ways while representing a step backwards in others.

However , considering the issue of personal interaction among students presents a different picture.

If you want to know more about AI tools , college essays , or fallacies make sure to check out some of our other articles with explanations and examples or go directly to our tools!

• Ad hominem fallacy
• Post hoc fallacy
• Appeal to authority fallacy
• False cause fallacy
• Sunk cost fallacy

College essays

• Choosing Essay Topic
• Write a College Essay
• Write a Diversity Essay
• College Essay Format & Structure
• Comparing and Contrasting in an Essay

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The structure of an essay is divided into an introduction that presents your topic and thesis statement , a body containing your in-depth analysis and arguments, and a conclusion wrapping up your ideas.

The structure of the body is flexible, but you should always spend some time thinking about how you can organize your essay to best serve your ideas.

An essay isn’t just a loose collection of facts and ideas. Instead, it should be centered on an overarching argument (summarized in your thesis statement ) that every part of the essay relates to.

The way you structure your essay is crucial to presenting your argument coherently. A well-structured essay helps your reader follow the logic of your ideas and understand your overall point.

Comparisons in essays are generally structured in one of two ways:

• The alternating method, where you compare your subjects side by side according to one specific aspect at a time.
• The block method, where you cover each subject separately in its entirety.

It’s also possible to combine both methods, for example by writing a full paragraph on each of your topics and then a final paragraph contrasting the two according to a specific metric.

You should try to follow your outline as you write your essay . However, if your ideas change or it becomes clear that your structure could be better, it’s okay to depart from your essay outline . Just make sure you know why you’re doing so.

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Organization and Structure

Welcome to the Purdue OWL

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There is no single organizational pattern that works well for all writing across all disciplines; rather, organization depends on what you’re writing, who you’re writing it for, and where your writing will be read. In order to communicate your ideas, you’ll need to use a logical and consistent organizational structure in all of your writing. We can think about organization at the global level (your entire paper or project) as well as at the local level (a chapter, section, or paragraph). For an American academic situation, this means that at all times, the goal of revising for organization and structure is to consciously design your writing projects to make them easy for readers to understand. In this context, you as the writer are always responsible for the reader's ability to understand your work; in other words, American academic writing is writer-responsible. A good goal is to make your writing accessible and comprehensible to someone who just reads sections of your writing rather than the entire piece. This handout provides strategies for revising your writing to help meet this goal.

Note that this resource focuses on writing for an American academic setting, specifically for graduate students. American academic writing is of course not the only standard for academic writing, and researchers around the globe will have different expectations for organization and structure. The OWL has some more resources about writing for American and international audiences here .

Whole-Essay Structure

While organization varies across and within disciplines, usually based on the genre, publication venue, and other rhetorical considerations of the writing, a great deal of academic writing can be described by the acronym IMRAD (or IMRaD): Introduction, Methods, Results, and Discussion. This structure is common across most of the sciences and is often used in the humanities for empirical research. This structure doesn't serve every purpose (for instance, it may be difficult to follow IMRAD in a proposal for a future study or in more exploratory writing in the humanities), and it is often tweaked or changed to fit a particular situation. Still, its wide use as a base for a great deal of scholarly writing makes it worthwhile to break down here.

• Introduction : What is the purpose of the study? What were the research questions? What necessary background information should the reader understand to help contextualize the study? (Some disciplines include their literature review section as part of the introduction; some give the literature review its own heading on the same level as the other sections, i.e., ILMRAD.) Some writers use the CARS model to help craft their introductions more effectively.
• Methods: What methods did the researchers use? How was the study conducted? If the study included participants, who were they, and how were they selected?
• Results : This section lists the data. What did the researchers find as a result of their experiments (or, if the research is not experimental, what did the researchers learn from the study)? How were the research questions answered?
• Discussion : This section places the data within the larger conversation of the field. What might the results mean? Do these results agree or disagree with other literature cited? What should researchers do in the future?

Depending on your discipline, this may be exactly the structure you should use in your writing; or, it may be a base that you can see under the surface of published pieces in your field, which then diverge from the IMRAD structure to meet the expectations of other scholars in the field. However, you should always check to see what's expected of you in a given situation; this might mean talking to the professor for your class, looking at a journal's submission guidelines, reading your field's style manual, examining published examples, or asking a trusted mentor. Every field is a little different.

Outlining & Reverse Outlining

One of the most effective ways to get your ideas organized is to write an outline. A traditional outline comes as the pre-writing or drafting stage of the writing process. As you make your outline, think about all of the concepts, topics, and ideas you will need to include in order to accomplish your goal for the piece of writing. This may also include important citations and key terms. Write down each of these, and then consider what information readers will need to know in order for each point to make sense. Try to arrange your ideas in a way that logically progresses, building from one key idea or point to the next.

Questions for Writing Outlines

• What are the main points I am trying to make in this piece of writing?
• What background information will my readers need to understand each point? What will novice readers vs. experienced readers need to know?
• In what order do I want to present my ideas? Most important to least important, or least important to most important? Chronologically? Most complex to least complex? According to categories? Another order?

Reverse outlining comes at the drafting or revision stage of the writing process. After you have a complete draft of your project (or a section of your project), work alone or with a partner to read your project with the goal of understanding the main points you have made and the relationship of these points to one another. The OWL has another resource about reverse outlining here.

Questions for Writing Reverse Outlines

• What topics are covered in this piece of writing?
• In what order are the ideas presented? Is this order logical for both novice and experienced readers?
• Is adequate background information provided for each point, making it easy to understand how one idea leads to the next?
• What other points might the author include to further develop the writing project?

Organizing at the sentence and paragraph level

Signposting.

Signposting is the practice of using language specifically designed to help orient readers of your text. We call it signposting because this practice is like leaving road signs for a driver — it tells your reader where to go and what to expect up ahead. Signposting includes the use of transitional words and phrasing, and they may be explicit or more subtle. For example, an explicit signpost might say:

This section will cover Topic A­­ and Topic B­­­­­.

A more subtle signpost might look like this:

It's important to consider the impact of Topic A­­ and Topic B­­­­­.

The style of signpost you use will depend on the genre of your paper, the discipline in which you are writing, and your or your readers’ personal preferences. Regardless of the style of signpost you select, it’s important to include signposts regularly. They occur most frequently at the beginnings and endings of sections of your paper. It is often helpful to include signposts at mid-points in your project in order to remind readers of where you are in your argument.

Questions for Identifying and Evaluating Signposts

• How and where does the author include a phrase, sentence, or short group of sentences that explains the purpose and contents of the paper?
• How does each section of the paper provide a brief summary of what was covered earlier in the paper?
• How does each section of the paper explain what will be covered in that section?
• How does the author use transitional words and phrases to guide readers through ideas (e.g. however, in addition, similarly, nevertheless, another, while, because, first, second, next, then etc.)?

WORKS CONSULTED

Clark, I. (2006). Writing the successful thesis and dissertation: Entering the conversation . Prentice Hall Press.

Davis, M., Davis, K. J., & Dunagan, M. (2012). Scientific papers and presentations . Academic press.

Want to create or adapt books like this? Learn more about how Pressbooks supports open publishing practices.

9.3 Organizing Your Writing

Learning objectives.

• Understand how and why organizational techniques help writers and readers stay focused.
• Assess how and when to use chronological order to organize an essay.
• Recognize how and when to use order of importance to organize an essay.
• Determine how and when to use spatial order to organize an essay.

The method of organization you choose for your essay is just as important as its content. Without a clear organizational pattern, your reader could become confused and lose interest. The way you structure your essay helps your readers draw connections between the body and the thesis, and the structure also keeps you focused as you plan and write the essay. Choosing your organizational pattern before you outline ensures that each body paragraph works to support and develop your thesis.

This section covers three ways to organize body paragraphs:

• Chronological order
• Order of importance
• Spatial order

When you begin to draft your essay, your ideas may seem to flow from your mind in a seemingly random manner. Your readers, who bring to the table different backgrounds, viewpoints, and ideas, need you to clearly organize these ideas in order to help process and accept them.

A solid organizational pattern gives your ideas a path that you can follow as you develop your draft. Knowing how you will organize your paragraphs allows you to better express and analyze your thoughts. Planning the structure of your essay before you choose supporting evidence helps you conduct more effective and targeted research.

Chronological Order

In Chapter 8 “The Writing Process: How Do I Begin?” , you learned that chronological arrangement has the following purposes:

• To explain the history of an event or a topic
• To tell a story or relate an experience
• To explain how to do or to make something
• To explain the steps in a process

Chronological order is mostly used in expository writing , which is a form of writing that narrates, describes, informs, or explains a process. When using chronological order, arrange the events in the order that they actually happened, or will happen if you are giving instructions. This method requires you to use words such as first , second , then , after that , later , and finally . These transition words guide you and your reader through the paper as you expand your thesis.

For example, if you are writing an essay about the history of the airline industry, you would begin with its conception and detail the essential timeline events up until present day. You would follow the chain of events using words such as first , then , next , and so on.

Writing at Work

At some point in your career you may have to file a complaint with your human resources department. Using chronological order is a useful tool in describing the events that led up to your filing the grievance. You would logically lay out the events in the order that they occurred using the key transition words. The more logical your complaint, the more likely you will be well received and helped.

Choose an accomplishment you have achieved in your life. The important moment could be in sports, schooling, or extracurricular activities. On your own sheet of paper, list the steps you took to reach your goal. Try to be as specific as possible with the steps you took. Pay attention to using transition words to focus your writing.

Keep in mind that chronological order is most appropriate for the following purposes:

• Writing essays containing heavy research
• Writing essays with the aim of listing, explaining, or narrating
• Writing essays that analyze literary works such as poems, plays, or books

When using chronological order, your introduction should indicate the information you will cover and in what order, and the introduction should also establish the relevance of the information. Your body paragraphs should then provide clear divisions or steps in chronology. You can divide your paragraphs by time (such as decades, wars, or other historical events) or by the same structure of the work you are examining (such as a line-by-line explication of a poem).

On a separate sheet of paper, write a paragraph that describes a process you are familiar with and can do well. Assume that your reader is unfamiliar with the procedure. Remember to use the chronological key words, such as first , second , then , and finally .

Order of Importance

Recall from Chapter 8 “The Writing Process: How Do I Begin?” that order of importance is best used for the following purposes:

• Persuading and convincing
• Ranking items by their importance, benefit, or significance
• Illustrating a situation, problem, or solution

Most essays move from the least to the most important point, and the paragraphs are arranged in an effort to build the essay’s strength. Sometimes, however, it is necessary to begin with your most important supporting point, such as in an essay that contains a thesis that is highly debatable. When writing a persuasive essay, it is best to begin with the most important point because it immediately captivates your readers and compels them to continue reading.

For example, if you were supporting your thesis that homework is detrimental to the education of high school students, you would want to present your most convincing argument first, and then move on to the less important points for your case.

Some key transitional words you should use with this method of organization are most importantly , almost as importantly , just as importantly , and finally .

During your career, you may be required to work on a team that devises a strategy for a specific goal of your company, such as increasing profits. When planning your strategy you should organize your steps in order of importance. This demonstrates the ability to prioritize and plan. Using the order of importance technique also shows that you can create a resolution with logical steps for accomplishing a common goal.

On a separate sheet of paper, write a paragraph that discusses a passion of yours. Your passion could be music, a particular sport, filmmaking, and so on. Your paragraph should be built upon the reasons why you feel so strongly. Briefly discuss your reasons in the order of least to greatest importance.

Spatial Order

As stated in Chapter 8 “The Writing Process: How Do I Begin?” , spatial order is best used for the following purposes:

• Helping readers visualize something as you want them to see it
• Evoking a scene using the senses (sight, touch, taste, smell, and sound)
• Writing a descriptive essay

Spatial order means that you explain or describe objects as they are arranged around you in your space, for example in a bedroom. As the writer, you create a picture for your reader, and their perspective is the viewpoint from which you describe what is around you.

The view must move in an orderly, logical progression, giving the reader clear directional signals to follow from place to place. The key to using this method is to choose a specific starting point and then guide the reader to follow your eye as it moves in an orderly trajectory from your starting point.

Pay attention to the following student’s description of her bedroom and how she guides the reader through the viewing process, foot by foot.

Attached to my bedroom wall is a small wooden rack dangling with red and turquoise necklaces that shimmer as you enter. Just to the right of the rack is my window, framed by billowy white curtains. The peace of such an image is a stark contrast to my desk, which sits to the right of the window, layered in textbooks, crumpled papers, coffee cups, and an overflowing ashtray. Turning my head to the right, I see a set of two bare windows that frame the trees outside the glass like a 3D painting. Below the windows is an oak chest from which blankets and scarves are protruding. Against the wall opposite the billowy curtains is an antique dresser, on top of which sits a jewelry box and a few picture frames. A tall mirror attached to the dresser takes up most of the wall, which is the color of lavender.

The paragraph incorporates two objectives you have learned in this chapter: using an implied topic sentence and applying spatial order. Often in a descriptive essay, the two work together.

The following are possible transition words to include when using spatial order:

• Just to the left or just to the right
• On the left or on the right
• Across from
• A little further down
• To the south, to the east, and so on
• A few yards away
• Turning left or turning right

On a separate sheet of paper, write a paragraph using spatial order that describes your commute to work, school, or another location you visit often.

Collaboration

Please share with a classmate and compare your answers.

Key Takeaways

• The way you organize your body paragraphs ensures you and your readers stay focused on and draw connections to, your thesis statement.
• A strong organizational pattern allows you to articulate, analyze, and clarify your thoughts.
• Planning the organizational structure for your essay before you begin to search for supporting evidence helps you conduct more effective and directed research.
• Chronological order is most commonly used in expository writing. It is useful for explaining the history of your subject, for telling a story, or for explaining a process.
• Order of importance is most appropriate in a persuasion paper as well as for essays in which you rank things, people, or events by their significance.
• Spatial order describes things as they are arranged in space and is best for helping readers visualize something as you want them to see it; it creates a dominant impression.

Writing for Success Copyright © 2015 by University of Minnesota is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License , except where otherwise noted.

Understanding Business Functions Essay

Introduction.

Businesses usually carry out various activities in pursuit of their organizational objectives. These objectives differ from organization to organization depending on the nature of their business. However, there are those functions that are common in almost all organizations such as planning, budgeting, strategizing and performance measurement.

These functions usually help the organization to streamline itself towards the achievement of set goals and also to analyse how far it has gone in ensuring that the goals set are being implemented. The following paper seeks to answer several questions that relate to business functions.

Purpose of budgeting within organizations

Budgets are simply put a plan of revenues and expenses. By a plan, we mean a preparation of ways to spend or save. The word comes from the French word ‘ bougette ’ which means purse. Budgets are an important in economics due their efficiency in harmonizing and monitoring the monetary issues in an organization (Atrill & McLaney, 2003).

With a budget, organizations are able to set their goals clearly and allocate the necessary resources in monetary terms that are needed for those goals to be accomplished.

The purpose of a budget is twofold; first it enables the organization to forecast its expenditures and revenues such that the business can predict how it will perform financially within a given financial year. The other purpose is that it enables the business through forecasting to measure its actual financial operations.

This is possible through annual budgets that are compiled as a concerted effort across the various departments such as human resources, IT, operations etc. All these departments provide a comprehensive list in total of all the organization’s expected revenues and expenses.

The actual intended effect of budgeting is to come up with a financial plan that would be used as a blueprint for the company within the year. Managers from the various departments are therefore expected to be cautious in their spending so as to ensure that there is minimum deviance from the budget.

Therefore at the end of the financial year and after auditing of the various departments, it is possible to point out the areas in the company that are well managed and those that can be considered to be ‘out of control’. We can therefore see the importance of preparing a budget since without it; the organization would be an ‘unruly horse’ of sorts.

Relationship between objective budgets and operational budgets

As stated above, budgets are lists of the company’s anticipated revenues and expenses. However, there are various types of budgets. These include operational budgets and objective budgets. While the two are not the only types of budgets, they are a classification based on the manner of budgeting.

Generally, operational budgets are based on a detailed projection of the organization’s anticipated revenue or expenses that is based on the available data such as sales in the past year, past expenses and emerging patterns (Atrill & McLaney, 2003). Importantly, these budgets are usually short-term and relate to particular departments e.g. sales, production etc.

On the other hand objective budgets are different in the sense that they are based on ‘what ought to be’ and not ‘what has been’. This is principally why they are referred to as objective budgets. They are usually long term in nature and they target the general organization.

They are mostly characterized by setting targets that must be met by each individual department. Nevertheless, the two types of budgets are not mutually exclusive; the company can have an overall objective budget but have short-term operational budgets being run by certain departments.

Factors to consider while budgeting

Though budgeting may sound easy, it is actually quite difficult to prepare. There is therefore a need to follow a set guideline to achieve the intended purpose. The first factor to consider while budgeting is the total annual income. Here, the income refers the immediate previous financial year.

This provides a good starting point in projecting future income. Next, there must be a consideration made for total annual expenses for the same reasons (Atrill & McLaney, 2003).

Once, the organization has obtained the data on expenses and income, the next thing to consider is the analysis of the data with the organization’s goal in mind. This involves isolating the particular areas that seem to be non-performing according to previous budgets and set targets and setting remedial measures.

The organization should then task the function of implementation of a new budget upon certain individuals. Lastly, there must be a periodic review of the stage of budget implementation either monthly or quarterly.

How budgeting assists a business to achieve its aims

Budgeting is very important to an organization. First it acts as a roadmap or blueprint that enables the business to account for every penny earned or spent. It thus assists the firm to set its sight on a target without having to worry about how the target will be met since there are already set mechanisms. Secondly, budgeting will assist the business to note the occurrence wastage and to set up remedial measures.

Next, budgeting assists the organization to align its priorities since it avoids the conflicts that would arise from arbitrary spending. Additionally, a budget helps the organization to reduce the workload of managers since they do not have to keep making proposals every time they need to spend. Again, it puts a cap on spending which is essential for directing resources at the important goals.

Budgeting also assists the business to build teamwork since various persons come together to prepare the budget (Atrill & McLaney, 2003). It also transforms money to become a tool for achievement of goals and not a source of conflict.

Profits are better cultivated where there is a budget since there is a clear indication of expected revenue and expenses. Finally, budgeting assists in ensuring that the organization checks on its debts and grows its savings which is good for long-term sustenance of business.

Performance measurement is a critical tool for any organization. It enables the organization to assess its progress and set goals for the future. Without any kind of performance information, the organization would not know whether it is making progress or it is declining. Performance measurement indicators include things like reports, periodic reviews and audits.

Importance of performance information to a business

The main reason why organizations measure performance is to improve it. Simply put, it is impossible to improve what one does not know. Behn (2003) states that for those measures that are not related to improvement, they can be attributed towards the overall achievement of organizational goals.

He proceeds to suggest that there are eight reasons why performance information is important to any organization. These reasons are discussed hereunder.

The first reason why performance information is vital is the need for evaluation. To achieve this, the evaluating managers need to know the organizations’ goals (Kravchuk & Schack, 1996). Behn (2003) states that evaluation consists of two variables the first of which is the performance data itself and the other is the benchmark through which data is analysed.

To acquire the performance information, there must also be focus on a particular department’s performance at a time upon which the output of such an agency is measured based on its overall effectiveness, cost effectiveness, impact or value to the organization and finally its adoption of best practices.

Another key reason is control. Through performance measuring, the line managers can effectively tell whether their subordinates are following instructions. While it is prudent to allow some degree of autonomy to the employee, there is still the need for overall control so as to have unity of purpose. Economists agree that financial systems need to have control bias otherwise they would not function.

Generally, most managers develop a course of instruction upon which they evaluate the individuals who have followed through and those who have not. This kind of performance measurement also provides the manager with beneficial information about the behaviour of certain employees. This would be necessary when putting in motivational measures or when laying off workers.

Budgeting is the third reason why there is a need for performance measurement. Though they may be ‘crude’ tools as Behn states, they can assist in providing useful performance information.

While cutting costs is usually thought to be the mainstay of many organizations sometimes budgets can be useful to know where to inject more money. However, to make such a decision, there is need for prior information on the demands and output of the particular department.

Behn (2003) finds that on a macro-level, decision makers usually supply a lump sum amount depending on budgetary needs. However, the lump sum amount has to be divided across smaller micro-levels depending on the need and cost effectiveness. However, before the sum is released, there must be an account of previous spending and efficiency so as to determine which units need what amount.

Another reason why performance measurement is important is the need to keep employees motivated. When persons are given particular goals and are then assessed based on their performance, it becomes easier to establish where motivation is needed. However, Behn (20030 states that performance measuring is in itself motivation enough.

The fact that employees are provided with set instructions or targets means that they are kept ‘on their toes’ and when they succeed, the feeling of accomplishment is motivating. Through targets, workers are encouraged to be creative since what the managers need is output not ways of achieving targets.

Celebration is an equally important reason for organizations to measure performance. Again, there is the need for a sense of accomplishment to keep the organization moving forward. Celebration binds the staff of the organization together since it fosters the feeling of individual and collective relevance. It also introduces a sense of self accomplishment and self worth necessary to keep employees committed to the organization.

Promotion is the sixth reason why performance measurement is necessary. The stature of an organization is improved where it measures its achievements and presents them to the relevant public which might be shareholders, legislators or just the general public.

Performance information validates the organization’s success, justifies the need for better treatment e.g. additional resources, earns the loyalty of the staff, customers and shareholders and also wins the organization recognition on a wide scale.

One other reason why it is necessary to measure performance is the need to learn. When managers analyse processes and information provided by performance indicators, they are able to learn the reasons why there is good or poor performance.

However, Behn (2003) insists that organizations must be able to lower the number of performance measures or indicators if the managers are to learn effectively. This is due to the lack of time, confusion over conflicting data and difficulties in sifting through complex and bulky data in the search of ‘good signals’.

Another issue that Behn points out that may inhibit learning is the “black box phenomenon” that characterizes performance measurements. While it is possible to evaluate the input and output of an organization, it does not provide reasons as to why the data appears the way it is. In short, there is no information on what factors are interacting to produce the final output.

As an answer to this, organizations should adopt benchmarking which is a classic form of performance measurement that is able to identify causes and solutions to certain issues plaguing the organization. This way, managers are able to learn and identify the core processes that are intrinsic to the organization.

Good performance measures that can lead managers to learn more about the organizational functioning should always reveal deviations and irregularities from the data results. There is also need to know what to measure and when to measure it. Behn (2003) adds that organizations need to learn from failure instead of hiding it.

The general and overall result of all the above information is the improvement of the organization. Behn (2003) lists this as the last importance of performance measurement. He states that the first step in performance improvement is always the identification of what needs to be improved and the processes necessary for that to occur.

There is also the need for a feedback mechanism where the corporation can assess how it has complied with its own improvement plans. Behn (2003) insists on improvement measures that give managers an opportunity to learn about the dynamics of the organization.

All in all, performance measurement is essential to the organization. However, the type of measurement indicators should also ensure that they provide a coherent picture of the true state of the organization. The picture should promote understanding of the relationships and processes occurring within the “black box’.

This way, the organization will be able to know how to influence or control its employees as well as influencing the opinions of customers, shareholders and the general public. This can be achieved by posturing these measures in a way that managers can relate their actions to the overall impact on the organization’s immediate environment i.e. its operations and workforce.

After all information is in hand, the managers can then take improvement measures based on the results obtained from performance information. In Behn’s (2003) words, the managers can then watch how their actions “ripple through the black box.”

Atrill, P. & McLaney, E. (2003). Accounting and Finance for Non-Specialists . New York: Prentice Hall

Behn, R.D. (2003). Why measure Performance? Different Purposes Require Different Measures. Public Administration Review , 4(2), pp. 56-59.

Kravchuk, R.S. & Schack, R.W. (1996). Designing effective performance-measurement systems under the Government Performance and Results Act of 1993. Public Administration Review , 56(4), pp.348-358.

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3.1: Introduction to Essay Organization

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3.1 Introdcution to Essay Organization

The French etymology of the word “essay” is “essai” meaning “trial, attempt essay” ( https://www.etymonline.com ). Given its French origin, the purpose of the essay attempts to express and develop a thought in a brief written piece. Building an essay begins with a unique process that involves clear organization, backing up positions with specific evidence, and engaging language. In other words, when writing an essay, you are attempting to establish a clear arguable opinion that has supporting points and evidence, organized with appealing words and wrapped with an introduction and conclusion. It is quite similar to a house. Every well-built house must have a solid foundation. When thinking about the basics of an essay, we imagine it as a two-story home. The introduction stands as the foundation in an essay. The thesis statement serves as the entry into the house. The beginning body paragraph establishes first floor and the second floor contains the additional body paragraphs. The second floor contains multiple paragraphs because it provides additional support and evidence needed to solidify the “entry” of thesis statement/proposal. The conclusion wraps up or covers the essay just like a roof.

Introduction (Foundation)

Let us consider that the foundation is the introduction. This is where you provide your readers with information that they need in order to know what the essay with cover. While we will talk about this more later, the introduction will have a good hook (something to capture the reader’s attention) and some background information. It will also end with a thesis statement, the “entry” into the essay.

Thesis Statement (Entrance)

The thesis statement comes at the end of the introduction in a basic essay format. It is important to understand that the thesis statement is an essential element, just like the front door of a house. The thesis statement functions as a pathway to walk readers into the interior of the essay. When there is no thesis statement, readers don’t know where to go in your essay, but like a front door and a hallway, the thesis will guide your reader through the house. A good thesis statement will be a clear sentence that identifies the precise and arguable opinion of the essay.

Beginning Paragraph (First floor)

The first floor is the beginning paragraph and it must match the foundation (introduction) and the entrance (thesis statement) in order to make the house stable. In the beginning paragraphs, it is important to stay on topic, and while, the beginning paragraph may differ in focus, they should always be aligned to the introduction and thesis statement. You can use the beginning paragraph to present background of the topic, a summary and context of the topic for the reader. Once you do that, you need to provide examples from other sources to establish credibility. Simply put, the beginning paragraph must contain a topic sentence, supporting details and a concluding sentence.

Additional Paragraphs (Second Floor)

Once you have passed the first floor, this is where “things get real!” The second floor in most houses contains the bedrooms, the area that is the “heart” of the home. In an essay, additional paragraphs beyond the beginning paragraph builds the argument, analysis, compare/contrast or any other type of essay. These paragraphs will “build a staircase” from the beginning paragraph to the other paragraphs. Between these paragraphs, there will be transitional expressions that will allow readers to follow along in the essay. Again, these paragraphs must have a topic sentence, supporting details and a concluding sentence.

Conclusion (Roof)

Without a solid roof, the house will not be complete. In an essay, if you do not have a conclusion in your essay, it will be incomplete. The conclusion enables you to “cover” the essay and give a sense of closure, whatever that may be. It will start with a rephrasing of the thesis statement, a brief mention of the supporting points in the paragraphs, and an impactful thought that will not be a new idea.

Topic Sentence (Bedrooms)

The job of the topic sentence is to control the development and flow of the information contained in the paragraph. The topic sentence takes control of the more general topic of the paragraph and shapes it in the way that you choose to present it to your readers. It provides a way through a topic that is likely much broader than what you could ever cover in a paragraph, or even in an essay. This more focused idea, your topic sentence, helps you determine the parts of the topic that you want to illuminate for your readers—whether that’s a college essay or a thank you letter to your Aunt Martha.

“The Topic Sentence”

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1.1 The Nature of Business

• How do businesses and not-for-profit organizations help create our standard of living?

Take a moment to think about the many different types of businesses you come into contact with on a typical day. As you drive to class, you may stop at a gas station that is part of a major national oil company and grab lunch from a fast food chain such as Taco Bell or McDonald’s or the neighborhood pizza place. Need more cash? You can do your banking on a smartphone or other device via mobile apps. You don’t even have to visit the store anymore: online shopping brings the stores to you, offering everything from clothes to food, furniture, and concert tickets.

A business is an organization that strives for a profit by providing goods and services desired by its customers. Businesses meet the needs of consumers by providing medical care, autos, and countless other goods and services. Goods are tangible items manufactured by businesses, such as laptops. Services are intangible offerings of businesses that can’t be held, touched, or stored. Physicians, lawyers, hairstylists, car washes, and airlines all provide services. Businesses also serve other organizations, such as hospitals, retailers, and governments, by providing machinery, goods for resale, computers, and thousands of other items.

Thus, businesses create the goods and services that are the basis of our standard of living. The standard of living of any country is measured by the output of goods and services people can buy with the money they have. The United States has one of the highest standards of living in the world. Although several countries, such as Switzerland and Germany, have higher average wages than the United States, their standards of living aren’t higher, because prices are so much higher. As a result, the same amount of money buys less in those countries. For example, in the United States, we can buy an Extra Value Meal at McDonald’s for less than $5, while in another country, a similar meal might cost as much as $10.

Businesses play a key role in determining our quality of life by providing jobs and goods and services to society. Quality of life refers to the general level of human happiness based on such things as life expectancy, educational standards, health, sanitation, and leisure time. Building a high quality of life is a combined effort of businesses, government, and not-for-profit organizations. In 2017, Vienna, Austria, ranked highest in quality of life, followed by Zurich, Switzerland; Auckland, New Zealand; and Munich, Germany. It may come as a surprise that not one of the world’s top cities is in the United States: seven of the top 10 locations are in western Europe, two are in Australia/New Zealand, and one is in Canada. At the other end of the scale, Baghdad, Iraq, is the city scoring the lowest on the annual survey. 1 Creating a quality of life is not without risks, however. Risk is the potential to lose time and money or otherwise not be able to accomplish an organization’s goals. Without enough blood donors, for example, the American Red Cross faces the risk of not meeting the demand for blood by victims of disaster. Businesses such as Microsoft face the risk of falling short of their revenue and profit goals. Revenue is the money a company receives by providing services or selling goods to customers. Costs are expenses for rent, salaries, supplies, transportation, and many other items that a company incurs from creating and selling goods and services. For example, some of the costs incurred by Microsoft in developing its software include expenses for salaries, facilities, and advertising. If Microsoft has money left over after it pays all costs, it has a profit . A company whose costs are greater than revenues shows a loss.

When a company such as Microsoft uses its resources intelligently, it can often increase sales, hold costs down, and earn a profit. Not all companies earn profits, but that is the risk of being in business. In U.S. business today, there is generally a direct relationship between risks and profit: the greater the risks, the greater the potential for profit (or loss). Companies that take too conservative a stance may lose out to more nimble competitors who react quickly to the changing business environment.

Take Sony , for example. The Japanese electronics giant, once a leader with its Walkman music player and Trinitron televisions, steadily lost ground—and profits—over the past two decades to other companies by not embracing new technologies such as the digital music format and flat-panel TV screens. Sony misjudged what the market wanted and stayed with proprietary technologies rather than create cross-platform options for consumers. Apple , at the time an upstart in personal music devices, quickly grabbed the lion’s share of the digital music market with its iPods and iTunes music streaming service. By 2016, Sony restructured its business portfolio and has experienced substantial success with its PlayStation 4 gaming console and original gaming content. 2

Not-for-Profit Organizations

Not all organizations strive to make a profit. A not-for-profit organization is an organization that exists to achieve some goal other than the usual business goal of profit. Charities such as Habitat for Humanity , the United Way , the American Cancer Society , and the World Wildlife Fund are not-for-profit organizations, as are most hospitals, zoos, arts organizations, civic groups, and religious organizations. Over the last 20 years, the number of nonprofit organizations—and the employees and volunteers who work for them—has increased considerably. Government is our largest and most pervasive not-for-profit group. In addition, more than 1.5 million nongovernmental not-for-profit entities operate in the United States today and contribute more than $900 billion annually to the U.S. economy. 3

Like their for-profit counterparts, these groups set goals and require resources to meet those goals. However, their goals are not focused on profits. For example, a not-for-profit organization’s goal might be feeding the poor, preserving the environment, increasing attendance at the ballet, or preventing drunk driving. Not-for-profit organizations do not compete directly with one another in the same manner as, for example, Ford and Honda , but they do compete for talented employees, people’s limited volunteer time, and donations.

The boundaries that formerly separated not-for-profit and for-profit organizations have blurred, leading to a greater exchange of ideas between the sectors. As discussed in detail in the ethics chapter, for-profit businesses are now addressing social issues. Successful not-for-profits apply business principles to operate more effectively. Not-for-profit managers are concerned with the same concepts as their colleagues in for-profit companies: developing strategy, budgeting carefully, measuring performance, encouraging innovation, improving productivity, demonstrating accountability, and fostering an ethical workplace environment.

In addition to pursuing a museum’s artistic goals, for example, top executives manage the administrative and business side of the organization: human resources, finance, and legal concerns. Ticket revenues cover a fraction of the museum’s operating costs, so the director spends a great deal of time seeking major donations and memberships. Today’s museum boards of directors include both art patrons and business executives who want to see sound fiscal decision-making in a not-for-profit setting. Therefore, a museum director must walk a fine line between the institution’s artistic mission and financial policies. According to a survey by The Economist , over the next several years, major art museums will be looking for new directors, as more than a third of the current ones are approaching retirement. 4

Factors of Production: The Building Blocks of Business

To provide goods and services, regardless of whether they operate in the for-profit or not-for-profit sector, organizations require inputs in the form of resources called factors of production . Four traditional factors of production are common to all productive activity: natural resources , labor (human resources) , capital , and entrepreneurship . Many experts now include knowledge as a fifth factor, acknowledging its key role in business success. By using the factors of production efficiently, a company can produce more goods and services with the same resources.

Commodities that are useful inputs in their natural state are known as natural resources. They include farmland, forests, mineral and oil deposits, and water. Sometimes natural resources are simply called land, although, as you can see, the term means more than just land. Companies use natural resources in different ways. International Paper Company uses wood pulp to make paper, and Pacific Gas & Electric Company may use water, oil, or coal to produce electricity. Today urban sprawl, pollution, and limited resources have raised questions about resource use. Conservationists, environmentalists, and government bodies are proposing laws to require land-use planning and resource conservation.

Labor, or human resources, refers to the economic contributions of people working with their minds and muscles. This input includes the talents of everyone—from a restaurant cook to a nuclear physicist—who performs the many tasks of manufacturing and selling goods and services.

The tools, machinery, equipment, and buildings used to produce goods and services and get them to the consumer are known as capital . Sometimes the term capital is also used to mean the money that buys machinery, factories, and other production and distribution facilities. However, because money itself produces nothing, it is not one of the basic inputs. Instead, it is a means of acquiring the inputs. Therefore, in this context, capital does not include money.

Entrepreneurs are the people who combine the inputs of natural resources, labor, and capital to produce goods or services with the intention of making a profit or accomplishing a not-for-profit goal. These people make the decisions that set the course for their businesses; they create products and production processes or develop services. Because they are not guaranteed a profit in return for their time and effort, they must be risk-takers. Of course, if their companies succeed, the rewards may be great.

Today, many individuals want to start their own businesses. They are attracted by the opportunity to be their own boss and reap the financial rewards of a successful firm. Many start their first business from their dorm rooms, such as Mark Zuckerberg of Facebook , or while living at home, so their cost is almost zero. Entrepreneurs include people such as Microsoft cofounder Bill Gates , who was named the richest person in the world in 2017, as well as Google founders Sergey Brin and Larry Page . 5 Many thousands of individuals have started companies that, while remaining small, make a major contribution to the U.S. economy.

Catching the Entrepreneurial Spirit

Stickergiant embraces change.

Entrepreneurs typically are not afraid to take risks or change the way they do business if it means there is a better path to success. John Fischer of Longmont, Colorado, fits the profile.

The drawn-out U.S. presidential election in 2000 between Bush and Gore inspired Fischer to create a bumper sticker that claimed, “He’s Not My President,” which became a top seller. As a result of this venture, Fischer started an online retail sticker store, which he viewed as possibly the “ Amazon of Stickers.” Designing and making stickers in his basement, Fischer’s start-up would eventually become a multimillion-dollar company, recognized in 2017 by Forbes as one of its top 25 small businesses.

The StickerGiant online store was successful, supplying everything from sports stickers to ones commemorating rock and roll bands and breweries. By 2011, the business was going strong; however, the entrepreneur decided to do away with the retail store, instead focusing the business on custom orders, which became StickerGiant ’s main product.

As the company became more successful and added more employees, Fischer once again looked to make some changes. In 2012 he decided to introduce a concept called open-book management, in which he shares the company’s financials with employees at a weekly meeting. Other topics discussed at the meeting include customer comments and feedback, employee concerns, and colleague appreciation for one another. Fischer believes sharing information about the company’s performance (good or bad) not only allows employees to feel part of the operation, but also empowers them to embrace change or suggest ideas that could help the business expand and flourish.

Innovation is also visible in the technology StickerGiant uses to create miles and miles of custom stickers (nearly 800 miles of stickers in 2016). The manufacturing process involves digital printing and laser-finishing equipment. Fischer says only five other companies worldwide have the laser-finishing equipment StickerGiant uses as part of its operations. Because of the investment in this high-tech equipment, the company can make custom stickers in large quantities overnight and ship them to customers the next day.

This small business continues to evolve with an entrepreneur at the helm who is not afraid of making changes or having fun. In 2016, StickerGiant put together Saul the Sticker Ball, a Guinness World Records winner that weighed in at a whopping 232 pounds. Fischer and his employees created Saul when they collected more than 170,000 stickers that had been lying around the office and decided to put them to good use. With $10 million in annual sales and nearly 40 employees, StickerGiant continues to be a successful endeavor for John Fischer and his employees almost two decades after Fischer created his first sticker.

• How does being a risk-taker help Fischer in his business activities?
• If you were a small business owner, would you consider sharing the company’s financial data with employees? Explain your reasoning.

Sources: “All About StickerGiant,” https://www.stickergiant.com, accessed May 29, 2017; Bo Burlingham, “Forbes Small Giants 2017: America’s Best Small Companies,” Forbes, http://www.forbes.com, May 9, 2017; Karsten Strauss, “Making Money and Breaking Records in the Sticker Business,” Forbes, http://www.forbes.com, January 26, 2016; Emilie Rusch, “StickerGiant Does Big Business in Tiny Town of Hygiene,” Denver Post, April 19, 2016, http://www.denverpost.com; Eric Peterson, “StickerGiant,” Company Week, https://companyweek.com, September 5, 2016.

A number of outstanding managers and noted academics are beginning to emphasize a fifth factor of production—knowledge. Knowledge refers to the combined talents and skills of the workforce and has become a primary driver of economic growth. Today’s competitive environment places a premium on knowledge and learning over physical resources. Recent statistics suggest that the number of U.S. knowledge workers has doubled over the last 30 years, with an estimated 2 million knowledge job openings annually. Despite the fact that many “routine” jobs have been replaced by automation over the last decade or outsourced to other countries, technology has actually created more jobs that require knowledge and cognitive skills. 6

Concept Check

• Explain the concepts of revenue, costs, and profit.
• What are the five factors of production?
• What is the role of an entrepreneur in society?

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• Authors: Lawrence J. Gitman, Carl McDaniel, Amit Shah, Monique Reece, Linda Koffel, Bethann Talsma, James C. Hyatt
• Publisher/website: OpenStax
• Book title: Introduction to Business
• Publication date: Sep 19, 2018
• Location: Houston, Texas
• Book URL: https://openstax.org/books/introduction-business/pages/1-introduction
• Section URL: https://openstax.org/books/introduction-business/pages/1-1-the-nature-of-business

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6 Common Leadership Styles — and How to Decide Which to Use When

• Rebecca Knight

Being a great leader means recognizing that different circumstances call for different approaches.

Research suggests that the most effective leaders adapt their style to different circumstances — be it a change in setting, a shift in organizational dynamics, or a turn in the business cycle. But what if you feel like you’re not equipped to take on a new and different leadership style — let alone more than one? In this article, the author outlines the six leadership styles Daniel Goleman first introduced in his 2000 HBR article, “Leadership That Gets Results,” and explains when to use each one. The good news is that personality is not destiny. Even if you’re naturally introverted or you tend to be driven by data and analysis rather than emotion, you can still learn how to adapt different leadership styles to organize, motivate, and direct your team.

Much has been written about common leadership styles and how to identify the right style for you, whether it’s transactional or transformational, bureaucratic or laissez-faire. But according to Daniel Goleman, a psychologist best known for his work on emotional intelligence, “Being a great leader means recognizing that different circumstances may call for different approaches.”

• RK Rebecca Knight is a journalist who writes about all things related to the changing nature of careers and the workplace. Her essays and reported stories have been featured in The Boston Globe, Business Insider, The New York Times, BBC, and The Christian Science Monitor. She was shortlisted as a Reuters Institute Fellow at Oxford University in 2023. Earlier in her career, she spent a decade as an editor and reporter at the Financial Times in New York, London, and Boston.

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