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CONCEPT OF BUSINESS
Tuesday, 25 March 2014
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6) Creation of Utilities
Creation of Utilities: An important characteristic of business is the creation of utilities is goods so that consumers may use them. Fo...
ACTIVITIES EXCLUDED FROM BUSINESS
1) Social Service Activities: There are certain human activities which do not seek profit. They are organized and operated with the sole o...
2) Deals in Goods And Services
Deals in Goods And Services: Every business enterprise whether it is carried on a small or a large scale deals in goods and services. The ...
DEFINITIONS AND CHARACTERISTICS OF BUSINESS
The term "Business has been defined differently by various writers. According to Urwick and Hunt, "Business is any enterprise whi...
4) Fast Means of Communication and Transport
Fast Means of Communication and Transport: The fast developed means of communication and transport these days are helping the traders in pr...
2) Personal Consumption Activities
Personal Consumption Activities: Similarly, all the activities which are concerned with the production or purchase of goods and services f...
4) Series of Deals
Series of Deals: Business consists of producing or purchasing and selling of goods on continous and regular basis. One or two stray or ...
3) Involves Production or Exchange of Goods
Involves Production or Exchange of Goods: An important characteristic of business is that it involves production or sale of goods and s...
(D). To the suppliers of input
To t he suppliers of input: (i) Prompt payment. (ii) No undue decrimination among suppliers. ...
2) Provision of Capital
Provision of Capital: Capital is life blood of business. Before starting a business, the capital needs of the business is to be assessed....
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