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CONCEPT OF BUSINESS
Wednesday, 12 October 2011
5) Desire to Earn Profi
Desire to Earn Profit:
The primary aim of business is to earn profit. if an enterprise is to survive, grow and expand, it must yield profit. Profit making thus is an essential element of business.
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ADVANTAGES OF INSURANCE
1. Provides Security
2. Optimum Allocation of Resources
3. Loss Prevention Activities
4. Provides Basis for Credit
5. Source of Capital Formation
6. Stabilizer of Organization
6. Stabilizer of Organization
7. Covers Unforeseen Accidents
8. Spread of Risk
CONCEPT OF BUSINESS
ACTIVITIES EXCLUDED FROM BUSINESS
2) Personal Consumption Activities
3) Illegal Activities
DEFINITIONS AND CHARACTERISTICS OF BUSINESS
CHARACTERISTICS OF BUSINESS:
2) Deals in Goods And Services
3) Involves Production or Exchange of Goods
4) Series of Deals
5) Desire to Earn Profi
6) Creation of Utilities
IMPORTANT OF BUSINESS IN THE PRESENT DAY WORLD
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