“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” – Warren Buffet [Quote Discussed]

Warren Buffet, the investment king and a guru for millions, the man who built a fortune out of understanding money and its power of compounding. I have listened to him, read about him and literally tried to follow his investment advice, which seems easy at first but is definitely something which requires immense patience, knowledge …

The Giffen’s Paradox of Economics explained : Business Basics

Sir Rober Giffen has given this paradox. According to him, in the early 19th Century in Ireland, the people were poor and there were two food items available, potatoes and meat. Potatoes were cheaper in price than meat. Earlier, people behaved just like the Law of Demand since potatoes were cheap and higher became the …

Entrepreneurship Basics : Understanding the Porter’s Five Forces!

The Porter's Five Forces play a crucial role in developing the right strategies for any business to enter into an industry. It helps determine the competitiveness and thus helps analyze and evaluate the right parameters which can help grow the company's profitability in the long term.  1. New Entrants into an Industry :  This factor …

Macroeconomics explained in 9 simple points!

1. The word Macro has been derived from the original Greek word 'Makros' 2. It studies in aggregate or uses the aggregate approach of study 3. It studies the factors in total and thus is termed as Aggregative Economics 4. For e.g. Aggregate Demand, Aggregate Supply, National Income, Aggregate Saving, National Output, Aggregate Investment. 5. …

Microeconomics Explained in 8 simple points!

1. Microeconomics has been derived from the Greek Word 'Mikros' 2. It studies individual entities or takes individual approach to study the economic factors 3. It studies each unit in detail for e.g : Individual Demand, Individual Supply, Individual Income, Individual Saving, Individual Output, Individual Investment, Profit & Loss of one particular company. 4. One …