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Difference Partnership VS Corporation


22 March 2022
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When you are just starting a business or business, you may not have much of a clue about the structure of the business. There are forms of business in the form of partnerships and corporations. Both can be a solution to business needs and have their respective advantages.

You will get the possibility to do business with one or more work partners. That way, you will have more help, more experience, and less financial burden.

However, you also have a risk of conflict, and an advantage. You also want to make sure that you are in the same position. Therefore, before entering into a partnership, it's a good idea to pay attention to the partnership agreement.

 

What is a partnership agreement?

A partnership agreement is a legal document that defines how a business will operate under two or more people. The agreement lays out how much business each partner has in a company.

It will discuss the responsibilities of each partner in the business, how much profit will be received by each partner, and what losses are the responsibility of each partner.

It also includes the rules on how you will manage the business and deal with potential possibilities that could affect the business. For example, when a partner dies or how the partner can leave the business later.

Apart from being the legal basis, the partnership agreement is also the basis for business success. In order to make a deal, clear decisions must be made about who will play what role, how you will fund the business, and how you will allocate profits and losses, as well as solutions to deal with the problem.

 

Understanding the Differences Partnership Vs. Corporation

How you classify your business as a partnership or corporation determines how your business will be taxed. It will also determine how many obligations you have in business.

In tax, partnership (partnership) is considered a pass-through business. That is, partners will report their finances from the company's profits and losses. After that, the partners will pay income tax on their own.

In contrast, corporations unlike other business structures, corporate corporations are subject to double taxation. With double taxation, you and your cooperating partner will pay double income tax on the same source of income.

In short, when it comes to corporations, corporations will be taxed as a business entity and personal income. In addition, each shareholder will be taxed. This way, you must be willing to comply with more tax regulations and requirements.

 

How to Run a Partnership Agreement in a Company

Like any contract, a partnership agreement should include some basics, such as a business name, business description, business contact information, and owner information. Also include details that include important decisions or scenarios that you will face.

If the form of partnership is one type of cooperation that you want in running a company, be sure to pay attention to the following things that must be regulated in the partnership agreement.

1. Ownership status

To find out the interest in doing business, you can list how much business each partner owns. By looking at how much business a partner owns you can see if your business is a priority for a partner or not.

2. Decision making

The multiple voting weights or percentages each partner has is important to ensure that decisions in business are fair and valid.

3. Capital contribution

To categorize someone as a partner, you must list acceptable contributions. Also specify the form in cash, property, or services and the agreed amount to be categorized as a partner.

4. Profit distribution

For contributions from partners within the company, you can list in detail when and how partners should be paid and when and how they will receive benefits.

5. Withdraw and add partners

In addition to accepting partners, you must be prepared to lose. Determine the conditions if anyone wants to leave the partnership as well as what will happen to their share and rights in the company. Also pay attention to the procedure for accepting new partners.

There will always be differences of opinion and decisions in a partnership. However, partnerships can be a solution to answer business needs. Therefore, before you make a business structure decision for your company, analyze the strategic issues that exist in your business and choose the most ideal business structure for your company.

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Business Communication as the Key to Work Success
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As in everyday life, business communication is something that needs to be understood in order to realize company goals. The reason is so that we can be more adaptive to the work environment and can make our work successful.

Clear and effective business communication is very crucial for employees, managers and business leaders in carrying out their duties and fulfilling their responsibilities. Without appropriate processes and tools, businesses can face a variety of serious problems, from dissatisfied employees, disappointed customers, to a gradual decline in profits.

So what does business communication look like? Check out this article to understand the differences in business communication that make you look more professional at work!

Understanding Business Communication

Business communication is a process of sending and receiving information in a business environment. According to Rosenblatt, business communication is the act of sharing information, ideas, concepts and instructions conveyed both personally and to the public.

In business communication, the sender of the message is obliged to ensure that the message conveyed can be received or understood by the person he is speaking to. Carrying out business communication has several benefits, one of which is increasing customer satisfaction.

When carrying out business communications at work, engagement with customers is one of the goals.

Business Communication Objectives

The application of business communication itself has the aim of increasing collaboration within the company or with customers. Through effective communication in business, of course there will be collaboration and reciprocal relationships that will benefit both parties.

In addition, business communication aims to increase employee trust in the company or customers in product marketing organizers.

In the business world, business communication is one of the important things to implement. The reason is, without effective communication there will be misunderstandings whose impact could be detrimental to the business.

Types of Business Communication

Communication carried out in a business environment also has various types in its application. The following are the types of business communication that you need to know:

Horizontal Communication

This communication is a type of communication in business that is carried out with people who have positions in the company. This type of communication usually occurs between department heads in a company or two employees who work in the same department.

Another term refers to horizontal communication in business as peer communication. Horizontal communication can help with coordination within a team or when further discussions are needed for plans within a team or department.

Vertical Communication

Vertical communication is a type of communication in business that occurs between employees with different level positions. For example, vertical communication is the exchange of information between team members and the team head.

In this communication, team members need to report work or have further discussions regarding the project so that communication occurs. Of course, communication between these two individuals also needs to be regulated by appropriate etiquette.

Diagonal Communications

Diagonal communication is a type of communication that occurs within a company between people at different but related levels. The type of diagonal communication in a company is open communication and facilitates collaboration with different teams.

Practical Business Communication Techniques 

To achieve effective communication goals, at work each individual must master business communication techniques. The following are business communication techniques that you can apply!

Active Listening

When communicating at work, make sure you actively listen. In business communication, it is very important to receive information correctly so as to achieve mutual understanding.

When you can listen actively, business communication will be more effective because you can understand the other person's intentions appropriately. Apart from that, this method allows someone to build close relationships with other members who work at the same company.

Using Appropriate Language

Communication with the right use of language will produce high effectiveness. It should be understood that choosing the type of business communication also determines the language used.

Of course, communicating with teammates with equal positions will be different from talking with your boss. So, make sure to understand who you are talking to to determine the appropriate language style.

However, in general, formal and clear language is still the choice for conveying information in business.

Maintain Eye Contact

Of all the things in communication techniques, there are several small things that can also make you more successful in carrying out business communications. A small thing but it can also lead to more successful business communications.

Maintaining eye contact while talking can build good working relationships in business. Apart from eye contact, gesture is also an important thing.

Not the main goal but can help if this technique is learned well.

Maintaining Emotions

In a meeting, there are often differences of understanding or differences of opinion which lead to tension. In business communication, one of the important techniques to learn is not to involve emotions when communicating.

Again, the goal is to provide success in business, so we must be able to control our emotions and think openly.

There are times when business communications involve emotions to build better relationships. However, make sure you can control your emotions so that they don't become something that has a negative impact on carrying out business communications.

Want to sharpen your business communications?

You can try taking one of the short programs at prasmul-eli. Currently, prasmul-eli has provided various short classes to hone skills that are useful for your job or business.

Apart from that, there are also facilitators who are experienced in their fields to help you learn and gain insights that can be applied.


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Understanding ERP that makes it easier to manage business data
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ERP or Enterprise Resource Planning is a system designed to manage all aspects of an organization's business in one integrated platform. With this, companies can automate various business functions such as finance, human resources, production, supply chain, services, and others.

The ERP concept developed from Material Requirements Planning (MRP) which first appeared in the 1960s. MRP focuses on production planning and control. As information technology developed, in the early 1990s, MRP evolved into ERP, covering not only manufacturing functions but also entire business processes.

This system aims to increase efficiency, reduce costs, and provide better insights through integrated, real-time data. Want to understand more about ERP and its use in business? Read this article until the end!

What is ERP?

ERP or Enterprise Resource Planning is a data collection and organization system carried out by integrated software. An ERP system is a solution to make it easier for businesses to manage daily data.

The data that can be managed is quite diverse, such as; accounting, manufacturing, marketing and HR data. With this system, data can be synchronized and move automatically, making it easier for managers to monitor the business as a whole.

ERP applications facilitate easier communication and exchange of information between departments across the company. This system collects information about the activities of various divisions, so that the information is available to other departments and can be used productively.

How ERP Works

After understanding the meaning, of course it will be very interesting to know how it works. In terms of process, ERP will help collect all data in the organization which is then stored in one central database.

After that, the data will be analyzed by the system to optimize business processes in an organization or company. The goal is to automate tasks, improve team collaboration, and better supervision and control.

Please note that ERP is a new digital tool that currently aims to be a data management solution. However, it is possible that the system will develop and provide various other solutions for running a business in terms of data management.

Types of ERP

With a dynamic system, of course ERP also has several types that can be used. The types of implementation are also quite varied according to the needs of the organization or company that wants to use it.

Here are the types of ERP systems based on their implementation:

Cloud Based

For those who want real-time data, using cloud-based ERP could be an option. This implementation system is available through cloud hosting services.

This cloud-based system is generally suitable for large-scale organizations or companies. This is because the larger the organization, the greater the need for real-time data analysis for business optimization.

On Premise

For this type, the system is used in a device directly in an organization or company. On-premise ERP systems are designed for all sizes of business, but are usually used by small and medium-sized organizations or companies.

Open Source

Just like other open source software, this ERP system allows companies to examine, modify and change the source code. The benefit of using open source is that it can make applications more suited to the organization or company.

Hybrid

This type of system combines two implementations, namely cloud and on premise. The use of this system allows it to be modified according to data needs and how much data is managed.

Benefits of ERP for Business

Various types of ERP system implementation open our eyes to the fact that currently there are systems that are easy and customizable. However, what benefits does using this system actually provide for business development in an organization or company?

The following are some of the benefits of an ERP system for business purposes:

Data analysis

In making a decision, of course there must be a valid data source to support it. This is where the function of the ERP system can help provide valid data both in quantity and quality.

Apart from that, with this system, daily data analysis can be carried out to help the production system quickly and precisely.

Workflow Effectiveness

Before ERP systems, you might update data by calling other departments by telephone. With this system, data updates can be done quickly and save communication time.

In other words, this system is able to provide effective benefits in workflow and communication efficiency.

Work Scheduling

Another benefit of having an ERP system in a company is in work scheduling. Companies can arrange employee work shifts, inventory delivery times, and manage time for maintenance within the company, both facilities and infrastructure.

An ERP system is a solution to make communication and data management more efficient. The system will definitely develop more sophisticated and provide other benefits for running an organization or company effectively.

Make sure your organization or company uses the type of ERP that suits your needs and is able to help with daily business activities.

Apart from ERP systems, there are also other ways to manage organizations or companies, namely understanding strategic management. Currently Prasmul-Eli has a short strategic management program that you can follow.

The aim of this short program is to inspire and develop your perspective in business. With the latest curriculum, you can choose various business classes according to your needs. This short program also presents facilitators who are experienced in their fields.


What are you waiting for, immediately register yourself to take part in a short training from prasmul-eli! Click this link for registration information and class options.

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Get to know CTA, an effective strategy to increase conversions
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In the world of digital marketing, CTAs are an effective strategy for increasing conversions. CTA or call-to-action itself is a mandatory element for every website in the world of digital marketing.

One of the functions of CTA itself is to attract consumers to a goal that has been set in the digital marketing strategy.

Is CTA only used on websites or can it be used in other media? Read this article to find out more about CTAs and also know how to create them effectively for your business!

What are CTAs?

As mentioned, CTA is an abbreviation of call-to-action. CTA is a term used in the marketing world to refer to the steps that marketers hope their prospects will take.

Regarding goals and needs, usually CTA can also be called a lure to direct consumers or users to a destination. These destinations can be various, such as sales pages, coupon pages, product information pages, and many more.

Functions of Using CTA

Creating various CTAs in various media certainly has its own goals and functions. Before deciding to look for the right CTA, first understand its function. Here are some CTA functions that can be taken into consideration when creating them:

Reducing the Bounce Rate Number

For those of you who have a business and use a website, CTA is an important element. Imagine when your potential customers are confused about buying a product but there is no purchase button, they will choose to leave the website.

The departure of consumers or users from the website results in a high bounce rate. The use of clear and effective CTAs can overcome this because the audience can follow clear instructions and spend longer on the page.

Simplifying the User or Buyer Journey

Another CTA function is to simplify the user or buyer journey so that it is shorter. Effective use of CTA will make users or consumers return to the page where you promote your business or product.

Increase Conversions

When you use the right CTA, more and more target audiences will definitely come to the page or click on a particular link. As a result, more leads, customers or prospects can be obtained.

Adding Content Value

If you are currently still confused about determining which CTA is relevant to the content, it could be that you don't understand the purpose of the content being created. With a CTA, it makes it easier for you to understand what kind of content needs to be created to promote your business on digital media.

In other words, using CTA functions to add value to the content you create.

Types of CTAs

Not only does it have many functions, there are also various types of CTA. The use of CTA can be adjusted to the promotional objectives that can be determined as a marketer. Several types of CTA below can help you as a marketer to have effective promotional content!

Form filling

After entering the landing page, visitors to your website or content will usually be given a form to fill in their personal data. The part of the button that leads to this form is called the CTA.

The sentence used for this CTA button also needs to be found to be the most effective, the aim is of course to attract the audience to provide personal data or leads.

Lead Generation

CTA is also a useful element for generating leads from content on a website or landing page. Leads itself is a term for a group of people or companies who are interested in the product or type of business you offer.

Make sure you place the CTA in a visible place on the website so that it can get the desired leads.

Button "Read More"

Not only in the form of leads, CTA can also be in the form of a button that directs you to a page to contain more information. Usually the "read more" button as a CTA is used for informative websites.

The goal is to direct the audience to other articles to clarify the information that has been provided.

Product and Service Offerings

The purpose of creating content on digital media is to promote a business or product, right? It turns out, with a CTA on a marketing website page it can be directed to a sales page.

The condition is that the use of the CTA sentence must be clear and placed in the correct part visible to the user or consumer.

How to Create Effective CTAs

As we know, convincing the audience to do what we want on the website is not easy but not impossible. Here are tips for creating CTAs that can help promote your business or product!

Choose Short Words or Phrases

Use to-the-point CTAs on your website pages to attract users to take further action. Choosing short words or phrases not only attracts users but is also aesthetically better when combined with the design.

The technique of selecting words or phrases for CTAs aims to increase the fear of missing out (FOMO). As a result, users will click on CTA more quickly that directs them to the page the marketer wants.

Must be striking and unique

If you want to have a CTA that is striking and easy to see, the determining component is color. Choosing a striking color will help users understand what action is expected from the page they are visiting.

The form of the CTA is also quite decisive. Some websites use button-shaped CTAs to make them clearly visible, while others use hyperlinks with striking colors.

You can choose the form of CTA according to your business goals and preferences according to your tastes.

Writing must be clear on various devices

A research says smartphone users account for quite a lot of total internet users. So, in making CTAs you need to prioritize shapes that are visible on smartphones more.

Make sure the CTA used can be seen and displayed on the smartphone screen. Not only display, make sure the resolution is also sharp to support aesthetics.

Using CTAs in digital promotional media will really help you get or divert users to do the desired thing. Make sure the CTA used is in line with business goals and can accommodate those goals.

Apart from using CTAs in digital promotional media, other developments can also help you make the business you run successful. Currently, Prasmul-Eli is opening various short programs to help you sharpen skills that are useful for your business.


Click this link for more information!