Category Archives: Business

Business children who can earn money

Business activities for kids are much more than simply methods of earning some cash. They contribute to kids’ development of problem-solving skills, social and communication skills, financial responsibility, self-confidence, and other skills, which would be beneficial when they grow up. There are several easy business ideas for kids, which can be used for starting a remunerative, as well as interesting, business activity. Children can take up simple business activities according to their capability to handle work.

Lawn Cleaning and Outdoor Services

Outdoor jobs are a great option for kids who do not like monotonous work. During the spring season, this job normally includes pulling weeds, tilling, sowing, and planting. In the autumn season, this work comprises gathering leaves and putting down mulch, whereas during winter, it may include shoveling snow. With some number stencils, a can of bright-colored paint, and a brush, kids may provide door-to-door services in painting house numbers on drives.

Errand and Assisting Services

Kids can opt for providing a general errand service, such as picking up groceries or posting letters in the post office. They can also choose to work as party assistants or garage-sale assistants, or any similar profile. The services which are expected from such small jobs are needed largely in event planning. Kids can certainly get a lot of experience regarding talking to people, and organizing things properly.

Car Wash

This is the best alternative for children with a lot of energy and willingness to earn money, but with no desire for planning. The things they would require is access to a parking lot, sufficient water, car soap, sponges, etc. For attracting customers, they can distribute handbills in their locality. This is a great way for making some good pocket money.

Pet Sitting

The loving behavior of children with pets can be used for starting a pet sitting business. This is a great business, especially in summer time when people are away from home on a vacation and do not prefer to take their pets along or put them in a kennel. Kids have the option of starting this business which includes feeding, walking, washing, and grooming dogs and similar pets, or feeding and taking care of fish.

Arts and Crafts

If your kids are good at arts and craft, they can opt for selling their work. They can arrange for a stand in a busy area or ask around at smaller craft shops to determine if there is any possibility to sell their finished crafts on consignment. If kids are experts in making crafts, they can make products that are more likely to sell, like beaded jewelry, handmade greeting cards, candles, soap, etc.

Social Cost Benefit Analysis

Social cost benefit analysis is a part of calculating the merits of a project or a government policy. As the name suggests, social cost-benefit analysis of anything is associated with its social impact. This means that how a project or a policy will affect people is analyzed. Only after calculating the opportunity cost of a project, it is approved.

The scope of social cost benefits can be applied to public investment and also to private investment. In case of public investment, it plays a major role in the economic development of a developing country. And, in case of private investments social cost benefit analysis is important as investments are to be sanctioned and are monitored by the government. There are two aspects of calculating the cost benefit analysis of any project. One is the private cost-benefit analysis and the other is social cost-benefit analysis. Though, social cost-benefit analysis is usually undertaken by the government.

Social cost is often in contrast with private cost. Major differences between social cost benefit analysis and private cost benefit analysis are as follows:

1. In social cost benefit analysis, not only profit but also other effects like how will it affect life of others are considered. Whereas, in private cost benefit analysis, the focus of the analysis is on maximizing profits.

2. For calculating social cost benefit, market prices for the factors to be considered cannot exist. Therefore, market price is not the main factor taken into consideration while calculating social cost benefit. Whereas, for private cost benefit analysis market price forms the base of the analysis and the key factor that determines if a project is viable.

Social Cost = Negative Impact
Social Benefit = Positive Impact

Social cost benefit analysis has been introduced to develop systematic ways of analyzing cost and benefits of factors which do not have market prices, like effect on environment and traffic. Social cost-benefit calculates non-monetized benefits/ losses. It is normally used for large fund projects like constructing a dam, a road. Such projects have higher social cost-benefits and also affects the price level to an extent.

Example: If a bridge is to be constructed then how much will it benefit the people who live in that particular area, is to be analyzed. Therefore, how many people are willing to use the bridge, how much traffic will be reduced and what is the increase in cost of traveling, will have to be assessed as a whole to come to a conclusion. Suppose, if people are not willing to use the bridge if the cost of traveling from the bridge is $5 and if $7 has to be charged per vehicle to make this project feasible, then the government may consider dropping the project out.

Cognitive Resource Theory of Leadership

Cognitive resource theory was propounded by Fred Fiedler, Vecchio and Joe Garcia as a re-conceptualization of the Fiedler Contingency Model of leadership. This theory discerns that stress can be a factor that prevents an intelligent leader from being efficient. As per this theory, there is no ideal leader. Leaders are said to be either task oriented or those who prioritize human relationships; but leaders are required to deal with various situations and different stress levels. This theory will be explained in three parts, which are as follows.

Cognitive Resource Theory in Brief

Effect of Stress
Cognitive resource theory states that, an intelligent leader or a leader with a high IQ can work efficiently under low stress situation. This is because the stress impairs a persons ability to think effectively. As an intellectual person will seek for rational solutions but, not all problems have rational solutions and that is why he may not be resourceful.

In a high-stress situation, a person with lower IQ level but more work experience will be able to lead better. Similarly, the theory indicates that a leader with higher IQ/ intelligence will perform better than a more experienced leader in low-stress situations. This is because an experienced leader will rely more on past occurrences and experiences than being able to think out of the box. His experience, in a way, becomes his way of reacting to a stimulus. On the other hand, an intelligent leader will be able to use his intellect to seek solutions.

Directiveness and Group Support
An intelligent leader gives intellectual effort in planning, rationalizing, decision-making and in making strategies to solve a task. Also, he needs to be an efficient communicator to instruct and guide. An intelligent leader seeks support from his team and depending on the level of stress and his relationship with his team members, decides how efficiently he will be able to deal with a situation. If he is not in good terms with his team members then his leadership qualities maybe blocked out. When in stress, intelligence does not help and that’s when a forceful commanding ability is required. Hence, a leader must be directive. Without the support from his team members, a leader cannot act efficiently and that depicts dependency.

Behavioral Implications
It was tested in the theory, that more-intelligent leaders spoke more when in high stress than less intelligent leaders. Intelligent leaders felt the punch of the deadline pressures and also people in their teams contributed less to creative ideas because of the leaders babbling tendency. Intelligent leaders could end up being upset and could also overreact to small things, negatively-affecting other team members too. Stress can be transferred from one person to the other if a stressed-out person is unable to handle it.

Free Government Grants

For those who need financial help for any reason, be it education, business, housing, and so on, the federal government has made a provision of a number of grants. These are for individuals as well for organizations. You have to choose which one you need and apply for it accordingly. Free government grants are basically a financial helping hand extended to you by the government, albeit with some obligations. If these obligations are not fulfilled, you may be in a bit of a trouble. But that is another issue altogether.

Applying for Free Government Grants Online

With the Internet being an extremely convenient and easy method of any kind of transaction, it makes a lot of sense to apply for a grant online.

Point #1
The first thing you would need to do is to log in on the website ( There you would be able to find all the information you want about the different types of grants available and the eligibility criteria for that. Check them out and see if you want to apply for free government loans or apply for free personal grants. Select the one which you think is the best for you. For example, government grants for small business may be of interest to you.

Point #2
Now, have you selected the grant? Great. Just take down the ‘Opportunity Number’ of the grant you want to apply for. This number is very important for all your transactions pertaining to the process.

Point #3
With the number taken, we move on to the next step, that is to register with, the official website. Without registering, you would not be able to apply. For starting the registration process, just feed in the opportunity number in the box given.

Point #4
Once you feed in the opportunity number, you would be directed to an eAuthentication site for verification of identity and digital signature. What you have to do next is give in the required details. The details will the routine―name, address, birth date, email, and phone number. Once you are done with it and the information is accepted, you would be asked to create a username and password. The password has to be 8 characters long, having one special character, one upper case letter and a number. Level 1 credentials to apply for free government loans or grants.

Point #5
Get out of that site and again log on to, with the help of your new password and username. Again, you may need to fill in some more details. The procedure is the same whether you want to apply for free college or student grants.

Asynchronous Communication

Definition of Asynchronous Tools in Communication

In this particular type of communication method, it is not necessary for communicating parties to be simultaneously present for the communication purpose. An online lecture missed by a student, for example can be covered at some other time. Flexibility is the most profitable aspect of asynchronous communication tools. To understand it better, let us take a contrasting example of Instant Messaging (IM), which is a synchronous communication tool. In IM, it is essential for all the parties chatting to be present at the same time. If you’re chatting with your friend on some chat service, it is an essential condition that the other friend needs to be present on the other side and he or she must be replying you, else the communication remains incomplete. So synchronous communication tools work on the basic premise that all communicating parties can be at “different places” but at the “same time”. Some examples of synchronous communication tools are audio conferencing, web conferencing, white boarding and video conferencing. Asynchronous communication tools are exactly the opposite to synchronous tools of communication. One of simplest example of asynchronous mode of communication is an email system. When you send an email to someone, you’re automatically assuming that it can be replied later and not necessarily instantly.

Asynchronous Communication Tools List

Are you wondering which are real life communication methods used that are called asynchronous communication tool? Read on, to know more…

Discussion boards: We all have been on some or the other discussion boards online at some point of time. It is an online community of members for sharing thoughts, ideas, questions, queries and information regarding some topics. It is a great way to make new friends and to know numerous ideas.

Bulletine Boards: You were not present online in a discussion on some topic and now you want to know about what you missed. Well, with bulletine boards, coordinators post the links pertaining to the discussion and you can use the browser to catch up what you have missed. This is certainly one of the biggest advantages of online education.

Blogs: Blogging is a great way to share and receive knowledge, habits and hobbies. People who like your writing, will follow your blog whenever they want. There is no restriction on time.

Website Links: Instead of providing entire content, it is easier to share website links that direct the user to the contents. It makes the task of information sharing easier and simple.

Shared Calendars: To coordinate numerous activities in your college or in your office, you can use shared calendar software available online that can be also used to share information regarding any public events or with a group of friends.

E-Books: Web books are the latest trends online and it is easier to access them irrespective of time constraints. Even if the local library is not open, it is very much possible to access a book online, late midnight or early morning.

Databases: Information storage is a great way to use it for future references whenever required. Databases are perfect examples of storage houses where data can be stored and managed.

Streaming Audio and Videos: As a part of your online education, you can log in to the video link on a website to learn the lessons again or later to revise it further. It has no limitations of time. You can visit the video anywhere, anytime, if you has access to required communication devices such as a PC and the Internet.

Surveys and Polls: Collecting information from a large number of people at the same time is not a feasible task. So surveys and polls help in preparing critical information regarding any important topic. Again the benefit of doing this task in multiple time zones makes it simpler.

E-Mails: As aforementioned, emails are not expected to be replied immediately and you give time to the other party to reply later. It is just like posting a letter in the post office. You don’t get back the reply instantly. You wait for some time.

Social Responsibility and B-Corporations

Social Responsibility
Over the past few decades, social responsibility has become an increasingly important topic of discussion in all aspects of life in the United States. Although nearly everyone has an intuitive idea of what it means to be socially responsible, there is no hard and fast definition of this term. Normally, people try to be socially responsible by doing what they think is the most beneficial to others in a given situation. For an average individual, practicing social responsibility could mean recycling, picking up after your dog, driving a fuel efficient car or taking public transportation whenever possible, or being honest with others. In most cases, the exact definition of social responsibility doesn’t matter too much. In the business world, however, definitions can be more important.
Responsible Business Practices
Social responsibility extends beyond individuals to larger entities like businesses. Social responsibility is becoming more and more important in the business world these days, both because socially responsible actions are the right action and because businesspeople are finding that social responsibility is profitable. In many cases, consumers and investors alike are more likely to support companies who have a reputation for being socially responsible. Thus, large companies who pursue socially responsible courses of action could end up on top in competitive markets. Until recently, however, this has just been one business theory or approach, with little or no legal or organizational grounding.
Traditional Business Designations
In recent years, a few new business structures have come into being in the United States. These new structures are designed to provide an alternative to traditional understandings of business operations. Traditionally, companies have been designated as ‘S corporations’, ‘LLCs’, and a few others, and the legal status of such business entities has been mostly independent of what the businesses actually do. Part of the reason for this is that it’s difficult to define, legally, what is good and what is bad. If certain activities are said to be socially responsible and others are not, trouble could arise when people disagree with these definitions. In 2006, however, the B Lab Company was founded in Pennsylvania to help determine what qualifies as socially responsible business practice.
The movement begun by B Lab to create a legal definition of corporate social responsibility was followed by the creation of the B-corporation corporate charter format. A company designated as a B-corporation, or Benefit Corporation, is, according to the designation, a business that is legally required to adhere to standards of social responsibility. Although there is still no widely accepted legal definition of social responsibility, the definition and standards created by B Lab are used to evaluate whether business qualify for B-corporation status. The standards, termed the B Ratings System, evaluate several measures of a business’s social and environmental practices, including employment practices.

Why Small Businesses are Important to the Economy?

Did you know? The Bank of America was initially established as a small business and has grown to its glorious position as a corporate giant. There are an estimated 29.2 million small business enterprises in America. As inconspicuous as they may seem, small-scale businesses are vital to bring innovation and drive competition in an economy. They increase national GDP (gross domestic product). Clients now have more trust in small-sized businesses than they do in larger companies. These businesses have successfully developed a sense of trust and security in people around them. Irrespective of the fact that they do not generate turnovers in millions, small-sized businesses provide sustainability to the economy. They are easy to manage, very flexible and easily adapt to economic changes.
Creating More Employment

Although a small business may typically employ fewer than five hundred people, they help generate employment opportunities. While multinational corporates focus on recruiting people with laudable educational qualifications, small enterprises hire people even with most unimpressive resumes along with providing training and development. In the American economy, such businesses have alone provided employment to almost half of those engaged in the private sector. If you were to compare the total number of people employed by all small business firms as compared to big businesses, you will observe that percentage of employment generated by small companies or businesses is higher. This is evident in the fact that annually, small-sized businesses have generated more than 60% of total new employment opportunities in the U.S. economy in the last ten years. Also, these jobs are created at a faster pace too, because many small enterprises are more inclined towards increasing their work force, while big corporates concentrate on wealth generation through higher investments. During periods of lay-offs prevailing in the entire economy, the number of small-business start-ups will go up even though big corporates will downsize. The banks will fund these new businesses and stimulate the velocity of money.
Small Businesses are the Backbone of Our Economy

The oft-repeated statement “small businesses are the backbone of our economy” stands true in modern-day economies. Although many such businesses in the economy may depend on outsourcing by larger companies, if they did not exist, so wouldn’t the big businesses. While, small-sized businesses create more products and services, they also help circulate money in the economy quickly. They are also more enthusiastic and willing to create strong customer relationships and reliability amongst the employees. They work at the micro-level of economics and create a base for the macro-economic stage through the multiplier effect. They cater not only to households directly but also aid multinationals with their products and services. However, many huge clients are now turning to small enterprises to contract financially significant projects fascinated with the friendly and reliable work environment. Also, the scope for growth of innovation for an employee is much higher when employed by a small business, evident statistically that they generate 13 times more patents per employee than any large patenting enterprise.

Target Marketing Strategy to Watch Your Business Grow

Marketing is an important function that plays a vital role in the running of the business. If the product is not marketed in the right manner and fails to reach the end customer, the business will fail. This is why, marketing strategies play crucial roles. While marketing a product, the company has to decide a target market. Target market is nothing but that specific set of audience to whom the product manufactured is meant to cater to. Target market is more like dividing the vast sea of customers into smaller segments and using the 4Ps of marketing (Product, Price, Place and Promotion) on this segment effectively to achieve maximum sales and profits. Target marketing strategy helps tap that subset of the customer population that are most likely to purchase and use the product.

How to Identify a Target Market
The whole concept of target marketing stems down from the fact that we cannot please everybody! Target market, unlike mass marketing does not dole out a single product to the entire market. Instead it marks out a specific range of people to whom the product must be effectively marketed to. As a marketing professional one needs to identify the target market correctly and tap as much profit as possible. To identify the target market one will have to look at the product being manufactured and sold. Ask a few questions:

▲What does this product do?
▲ Who is it helpful to?
▲ Which regions of the world will accept this product?

How to Divide the Market into Segments
To target a particular sector, the entire market has to be first divided based on different criteria. This can be done in the following ways:

Demographic Segmentation: This segment involves categorization of customers based on factors such as age, income, family size, gender, education, nationality, race, etc.

Geographical Segmentation: As we already read above, segmentation based on the region is important while dealing with specific products like desert coolers, fur coats, blankets, snow boots, raincoats, etc., the climatic conditions will determine one’s target area.

Behavioral Segmentation: This form of segmentation clubs factors like brand loyalty and value of quality. For example, several IT companies market their products specifically to customers loyal to their products. Then again, certain companies target their high scale products to people who cherish, value and are ready to shell out extra cash for valuable pieces.

Psychographic Segmentation: This type of categorization involves clubbing of people’s interests, lifestyles and personalities.

Technographic Segmentation:This type of segmentation differentiates people based on technology they use. With technology becoming such an ingrained part of our lives, technographic segmentation becomes all the more important.

These five types of segmentation are only the broader approach to slicing a market into segments. Even when you consider demographically, within it, one will again have to segment the market. Most marketers use a combination of these kinds of segmentation to narrow down on the most effective target market.

Effective and Easy-to-implement Communication

Not enough can be said about the importance of communication in any relationship, be it personal or professional. It is the foundation upon which relationships are built, strengthened and solidified. Now, communication is not only about talking; it also encompasses non-verbal communication that includes body language, and the ability to listen, understand, and relate information to others. It is often the lack of these aspects that results in miscommunication, and therefore, misunderstandings. So here are some effective communication exercises for people trying to improve their relationships to make them harmonious and beneficial.

Communication Exercises that Work

All the activities provided below can be utilized by professionals who wish to improve their communication skills and develop profitable relationships, and for kids, teenagers, and adults to learn how to improve their relationships with others, be it friends, family, or within a general social circle. We have only provided ideas here, from which inspiration may be drawn to improve the exercise or add to its details to make it as effective as possible. While these exercises are better performed on a one-to-one basis, it is also acceptable that they be performed in larger groups. The only reason for the former choice is that on a one-to-one level, comprehension of the concept is much simpler. It also helps the administrator of the exercise to understand whether or not both the individuals have grasped the concept by observing noticeable changes in performance. With the basics explained, let’s move on to getting a better idea of the activities and exercises provided below.

Put Yourself in My Shoes

This is an exercise that allows individuals to understand opposing points of view and then learn to respect them. By switching stances, they understand the opposite person’s thought process and opinion, and this provides them an open perspective regarding any situation. For this exercise, pair two individuals and allow them to choose a subject on which one person can speak for and the other can speak against. Let each present her/his case, after which they will change sides and speak on the same subject. This not only helps understand the subject, but makes them open to a point of view other than their own. By putting themselves in another’s shoes, they learn to view certain cases objectively.

You Have got to Listen

As mentioned earlier, communication also encompasses the art of listening and then reiterating that information in a precise manner so as to avoid misunderstandings. With this exercise, not only is this aspect dealt with, people also learn how to give clear instruction without any cues so that others can implement these instructions as aptly as possible. The task is to have one individual stand up and describe an activity or picture, and ask the remaining in the group to recreate the description or perform the activity as per the instruction given by that individual. Only the individual who is instructing is allowed to view the picture or see how the activity is performed. This is a great task that shows how well people comprehend verbal instruction over written instruction, and teaches them how to perform in situations where only verbal instruction is available.

An Explanation of Stealth Marketing

Marketing is a very important phase of business. The business cycle works like this―product planning, designing, development, testing, and then marketing. If the last phase is not implemented successfully, the entire development process will have gone in vain. Hence, companies come up with newer and more innovative strategies of advertising the product and circulating the same amidst the general public. Stealth marketing is one such advertising technique, developed more than a decade back. Unlike traditional methods, where one is at least aware that a product is being advertised (print media, like newspapers, magazines, billboards, etc., and tele-media, like radio and television), stealth marketing concentrates on secret advertising, i.e., no one would even know that the product is being advertised. The following paragraphs elaborate further on the practice of stealth marketing.

An Overview
Many consumers actually wonder if stealth marketing is real or just a myth. Well, to eliminate your doubts, yes, it is indeed real.
Also called undercover/buzz marketing, it is a tactic to let customers know about the product before it has been officially launched.
As mentioned in the beginning, Sony Ericsson was one of the first companies that used stealth marketing.
In order to launch their product labeled ‘T68i’, they had actors pose as regular tourists.
These ‘tourists’ went around the city, asking passers-by to take their pictures, using the phone camera of the brand new T68i. Mind you, the public had no idea of this product before.
As the public interest was aroused, the actors/tourists displayed the product like a trophy, explaining its features, attracting a wider audience and encouraging them to buy the product, which was the sole purpose of the campaign. The company intended to spread this news as far as possible so that everybody would know about the phone and its unique characteristics.
Some of the types of stealth marketing are given below:

Using Actors
The technique dates back to the one Sony Ericsson had used first―having actors pose as regular people for product promotion.
As of today, companies hire a bulk of actors and group them into twos and threes.
These groups travel around the city, attracting the general public towards the product in some way or the other.
They spread word about the product features, unique traits, etc., and remember, all this is done without the actors revealing their identity. This is one of the strong reasons why some consumers consider this practice as illegal.
This campaign may be carried out for a few days/a week, until the company finds out that the product has been sufficiently advertised.
Similar to this method, the company also hires actors and sends them to huge organizations, to indulge the people present there into a conversation regarding the product.
The conversation is scripted, and the people have no idea who these actors are, nor do they know what their purpose is.
Video Releases
Videos featuring the product are made to look like press releases, when in reality, the products are being advertised on television as well as online channels.
The people appearing in the videos may or may not be actual artists; however, the videos are released nevertheless.
It may be possible that one of the marketers has been posing as a broadcaster as well.