The Best Approach to Business Concept for Every Personality
Definition of the Business:
Business is an activity of making money by selling & buying of products. Business can be small or
large depending on the investments and turn over it make. Business can be in sole proprietorships,
corporations or in partnerships.
Business is not a system that started a year or a century ago. Business is under limelight from
ancient times when people use to exchange their goods to buy their essentials, as the time passed
exchange of gold and silver coins started, countries made their currencies & money came into
existence.
Business is such a commercial activity owned and operated by a certain person with him/her
team or staff, which is known as business person or entrepreneur or proprietor. Business is known
to know as an organization or entrepreneurship or firm. Business is defined as the enterprising
entity, firm, or organization, some professional or causal activities, industrial works are included in
the business.
A business is or an organization where some professional and well-educated people are working
together under specific terms and conditions.
•Features of the Business: –
Social responsibility, individual satisfaction, emotional needs, undertaking to earn money, satisfy
own self, own needs are the features of the Business.
•Functions of the Business: –
To the operating business, there are basic functions like planning, organizing, leading (staffing), and
controlling all are basic and main functions of the Business.
•Benefit of the society: –
The business creates or sets the standard of the living of the goods and services. Some common
forms of business just like a partnership, cooperation, and sole proprietorship. And the main role of
the Business is making benefits of the society, profit also matters but nowadays, business or firm
contribute themselves for the society. The exchange of goods and services of providing the services
on the behalf of the money.
Businesses make a reputation in the market.it works on a regular basis. Business is the most
important in a country’s economy.
Types of Businesses concept: –
- Traditional business concept
- small business concept
- E-commerce business
- consumer service concept
1) Traditional business concept:
The traditional business concept follows the traditional trade methods to run the business.
Traditional business or traditional trade based on history and time-beliefs. Traditional businesses are
like handwork, handcrafts workshop which are in small basis. Traditional businesses are also
included green trades. Green trade means the use of natural resources and recycled materials, etc.
2) E-commerce business concept: –
E-commerce business concept means (E-commerce) electronic business which operated with the
help of the internet connectivity, or through the social media. Nowadays E-commerce businesses,
are very demanded due to the covid-19 situation. Too many people are jobless so, lots of people
started their own business with electronic use. Electronic businesses are very easy to owned and
operated too. But sometimes you have to take risks just like or forex: – during payment time.
Amazon is a very good example of an e-commerce business.
3) Small business concept: –
Small business or enterprise small business is called Microbusiness. In the Small or Microbusiness,
there is a limited capacity of the working person, machinery, exchange of service and good, etc.
Small businesses are mainly owned privately and also operate by a single person.
4) consumer services business concept: –
Consumer service business or C2B means the consumer offers the service or goods to the business.
E-commerce service businesses are the intangible goods or services are provided by the business to
consumers. Some common types of consumer service.
1) transport.
2) product as a service.
3) Banking.
4) event service.
5) professional services
6) utilities.
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