BUSINESS:- An economic activity which involves trading of goods and services for profit motive
[profit motive=intention of making profit]
CHARACTERISTIC OF BUSINESS
GOODS AND SERVICES:-
Goods are which is tangable in nature and services are intangible
in nature
Example of the company who produces goods and services
Only goods:-sudha diary products
Only services:-telecom services like airtel and idea
There are some companies who are specially in the nature of
INTEGRATION
[INTEGRATION is nothing but extention from product
manufacturing company to service providing company]
ECONOMIC ACTIVITY:- economic activity involves continuous
exchange of goods and services and it also includes either to supply the goods
or demand the goods
PROFIT MOTIVE:- profit is are of two types short term profit and long term profit
no business can only have a goal of short term profit if it has to sustain for long time.
REGULAR TRANSCATIONS:- Business must involve in continuous transcation of goods and services.Single time purchasing or selling of goods cannot be considerd as business.When the ownership of goods is transfered from the buyer to the seller there comes the concept of transfering of risk from the seller to the buyer which involves claiming of insurance,which always lies with the holder of the goods only when the policy contains the name of the holder.
BUSINESS IS SCIENCE AND ART:-
Business is set of circumstances
Describing the concept in one sentence is that science is the set process
how to reduce the cost is an example of art
idea is also an art.
SIZE:-
There are four types in size of business
1.micro scale industries
2.small scale industries
3.medium scale industries
4.large scale industries
All there have been divided as per turnover of the business and market of the business ETC..
BUSINESS is of two types 1.industry and 2.commerce
following are some key aspects of today class
.......FLEXIBLE OFFICE SPACE
.......Aggregation is based on capacity utilization
.......idle capacity is always expensive to the business
Good attempt but with following clarifications to be noted by every member of the blog.
ReplyDelete1. "[INTEGRATION is nothing but convertion from product manufacturing company to service providing company]" is not correct. Correctly Read it as
"INTEGRATION is extending a business activity from product manufacturing to service providing also". Please note that this is only an example of integration.
2. "No business has a goal of short term profit" is not appropriate. Read it correctly as "no business can have only a goal of short term profit if it has to sustain for long".
3. "ideal capacity is always expensive to the business" is not correct. " It should be read as Idle capacity and not Ideal capacity"
Good continue to blog
tnq sir for your corrections.Definitly i will improve on that......
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