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Wealth and Industrial Attractiveness - Essay Example

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valuable things that one owns. Money is not wealth. However, it is used as a parameter to measure wealth. Furthermore, owning a lot of stuff does not necessarily make a person wealthy. On the contrary what one needs is…
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Wealth and Industrial Attractiveness al Affiliation: Wealth and Industrial Attractiveness Wealth can simply be defined at material possessions, i.e. valuable things that one owns. Money is not wealth. However, it is used as a parameter to measure wealth. Furthermore, owning a lot of stuff does not necessarily make a person wealthy. On the contrary what one needs is to own a lot of valuable stuff. Wealth arises not by just owning things that are valuable but having the ability to produce valuable things. This means having the possession of wealth producing resources such as labor, capital, and natural resources.
Wealth is made by saving little money and using the savings to create more money. This is followed by acquiring valuable materials. However, majority of the people makes wealth through coming up with a budget and different estimates of what they want to acquire and setting up a plan to achieve it. For instance, they come up with a budget on how to develop a concept and sell it to other people for money. After getting money, they diversify their investments in order to reduce the risks and uncertainties associated with inventing in one sector. With time these people are able to acquire valuable materials.
Business environment is critical in the success of any business. Economic, social, political, environmental, legal, and technological components dictate how the customers, local administration, and the business interact. This is through creating a platform for the business to make profits without interference from external forces. Therefore, these components can be useful in acting as parameters to measure whether an investment in the industry can return the initial capital and make profits which are sustainable. Read More
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