Factors to consider when evaluating viable business opportunities
4/17/2012 8:13:15 AM
Posted By: sashoo Membership Level: Gold Total Points: 3952
Membership Level: Gold Total Points: 4203
Another emerging consideration when evaluating a business opportunity is the Social Corporate Responsibility of the business. Nowadays almost every business take part in projects of its adjacent community, this plays an important role in building the relationship between the business and the public.i.e a good public relation. When establishing a business, an entrepreneur needs to choose wisely which activity his or her business is going to participate in. This is because some of these activities could bring negative effects to the business if not properly selected. Some of these activities include charity funding, sponsoring of local projects like football clubs among others.
17 Apr 2012 @ 11:50sashoo
Membership Level: Gold Total Points: 3952
Corporate Social Responsibility (CSR), is not only fit for much more established businesses, but also for those that wreck in huge profits. For instance, Equity Bank, Mumias Sugar, KCB, Co-operative Bank and many more established companies that fall in this category. These established businesses even offer scholarship projects to schools and universities.
But for starting-up businesses or for new entrepreneurs, venturing into such projects would drain them off financially, because they are just starting up and many would want to pay off their capital financing debt.
However, when they eventually establish themselves, then they can venture into such charities as well,without feeling the strain. But before this, other projects might as well cause bankruptcy.
17 Apr 2012 @ 11:37
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