15/01/ · Business means any economic activity performed by an individual or a group to profit by purchasing and selling goods. A successful business also plays a very significant 23/03/ · Strategic Supply Chain Management Business Essay Published Date: 23 Mar 10 Pages (3, Words) Abstract In early stages supply chains were seen as just the supply 21/12/ · Business Essays The essays below were written by students to help you with your own studies. If you are looking for help with your essay then we offer a comprehensive writing
Business Essay - 9+ Examples, Format, Pdf | Examples
Essay on Business! Read this essay to learn about:- 1. Short Essay on Business 2. Characteristics of Business 3, essay on business. Classification 4. Role of Profit 5. Changing Concept 6. Objectives 7. Processes 8. Techniques of Finding New Business Ideas 9. Need for Ethical Considerations Social Responsibility Changing Environment. Essay on business represents an organised effort by an individual or group of individuals engaged in making a living. It, essay on business, therefore, includes all those activities which involve production or purchase of goods or rendering of certain services with the object of selling them at a profit.
It is expected of essay on business to provide goods and services to the society in an effective manner. That is, while it should aim at earning profit, it should also keep in view the interest of its customers who should feel satisfied after essay on business have purchased goods or services from it. Only then, a business can survive and flourish. Thus, business, on the one hand, aims at earning profit for itself and, on the other, it provides required goods and services to the members of the society at a price that they can afford. Thus, business means the total enterprise of a country in manufacturing, industry, finance and commerce. It may be public enterprise or a private enterprise or the like. For any activity to be called business, essay on business, it must possess the features as given below:.
Business is solely an economic activity as it involves buying and selling of goods and services for the purpose of profit-making and creating wealth, essay on business. A crucial aspect of business is production or purchase of goods and services for selling them to earn profit by satisfying human wants. The goods and services are of two types — Consumer goods which are meant for direct consumption by the ultimate consumer like coffee, soap, biscuits, shampoo etc, essay on business. and Producer goods which are utilised in the production of consumer or capital goods such as machinery, raw materials, essay on business, and industrial essay on business. Services can be classified as intangible goods such as transportation, banking, insurance, essay on business, warehousing, communication etc.
Services clear the way for buying and selling of goods by removing various hurdles in business. The sale and exchange of goods and services become a business activity only if there is regularity of dealings. A single or isolated transaction cannot be called business. However, if Caryn sets-up a shop to sell old books essay on business exchange of money, it becomes business. Profit earning is the main aim of business. It lends continuity to business. Profits ensure the growth and survival of business in the long-run. However, profit should not be earned through unlawful, unethical and unfair means. A business cannot function without sale, transfer or exchange of commodities or services for some monetary consideration. In business, goods and services are delivered to those who need them and are ready to pay for them.
For instance, if the owner essay on business a toy shop, Mr. X, gifts a toy to his son, it is not business. But, if he sells the toys to a customer at his shop, essay on business exchange of money, it can be called as business. Business makes goods more useful for others by adding time, essay on business, place, form and possession utilities to them. It transports goods where they are available in excess to the place of scarcity place utility. It also makes goods available for usage in future by storing them in warehouses time utility. Thus, everyone is able to satisfy wants and needs in an efficient and economical manner. Risk in the context of essay on business is used to denote the uncertainty of making profit or possibility of suffering loss.
Risk is an inseparable part of essay on business. However, the reward is a positive outcome of bearing risk. Change in demand, changes in fashion or consumer taste, competition, government policies, economic recession etc. are the main causes behind creation of business risk. Losses are also incurred by business due to natural calamities such as earthquake, tsunami, floods, strike by employees, theft, fire, inappropriate usage of company funds etc. Though various types of business risks can be avoided by correct forecasting and insurance but it is not possible to completely eliminate all risks. Business is an art because it involves application of creative skills, ideas and experiences to achieve the desired goals.
It is also a science because it is based on certain laws and principles. We may classify business activities into two categories. In the first category we can group all the business activities relating to production. Similarly, all the activities relating to exchange may be grouped under the second category. Industry refers to that part of business activities which is concerned with the production of want-satisfying goods through utilisation of available material resources. Industry utilises the natural resources and brings them into the form useful for final consumption or further use. It means that industrial activity aims at ensuring the supply of goods in that form which suits the objects, needs and convenience of the persons expected to use them. Thus, industry creates the form utility to goods, essay on business.
Under this explanation, industry means a group of factories usually specialising in a particular product line. For example, all the factories which produce cloth are collectively called the textile industry. Classification of Industry :. Primary Sector- extraction of raw materials — mining, fishing and agriculture. This includes retail, tourism, banking, entertainment and I, essay on business. Essay on business primitive economy will primarily be based on the primary sector — with most people employed in agriculture and the production of food. Further development enables the growth of the service sector and leisure activities. Primary Sector :. The primary sector is sometimes known as the extraction sector — because it involves taking raw materials.
These can be renewable resources, such as fish, essay on business and wind power or non-renewable resources, such as oil extraction, mining for coal. In the s, over one million people were employed in the UK coal industry. It was a key part of the economy. However, improved technology and the growth of other energy sources have seen a dramatic decline essay on business this primary sector industry. Secondary or Manufacturing Industry :. The manufacturing industry takes raw materials and combines them to produce a higher value added finished products.
For example, raw sheep wool can be spun to form a better quality wool. This wool can be threaded and knitted to produce a jumper that can be worn. However, the development of improved technology, essay on business as spinning machines, enabled the growth of larger factories. Benefiting from economies of scale, they were able to reduce the cost of production and increase labour productivity. The higher labour productivity also enabled higher wages and more income to spend on goods and services. The service sector is concerned with the intangible aspect of offering services to consumers and business. It involves retailing of the manufactured goods. It also provides services, such as insurance and banking.
In the twentieth century, essay on business, the service sector has grown due essay on business improved labour productivity and higher disposable income. In simpler terms commerce can be defined as all functions connected with the buying and selling of goods and services. In other words, commerce deals with the movement of goods from the men who produce them the producers or the manufactures to the men who ultimately consume them the ultimate essay on business. It is the function of commerce to provide the connecting link between producers and consumers. Therefore, such commercial activities connected with production, distribution and consumption etc. Earning money is the primary motivator for any economic activity including business.
A business should earn sufficient profit so as to cover its expenses and accumulate enough funds for its expansion and growth. The following features highlight the role of profit in business:. The main objective of a business enterprise is to gather enough funds for its survival in the market and to thrive in the long-run. In case the organisation falls short of enough profits, it will be forced to consume its capital, and eventually shut shop. Profits are helpful in surviving trade cycles and other unforeseen events.
They are also required in maintaining factors of production like labour, land and machinery. Profits are essential for expansion and growth of the business enterprise. They are a great source of self-financing. As business is dynamic in nature, it needs to bring changes in its business strategies. All this is possible only when a business earns sufficient profits.
Essay writing for business students
, time: 10:43Essay on Business: Meaning, Characteristics, Components and Objectives
23/03/ · Strategic Supply Chain Management Business Essay Published Date: 23 Mar 10 Pages (3, Words) Abstract In early stages supply chains were seen as just the supply An Introduction to Business Business plays a major role within our society. It is a creative and competitive activity that continuously contributes to the shaping of our society. By satisfying 9+ Business Essay Examples 1. Business School Essay blogger.com Details File Format PDF Size: KB Download 2. Business Ethics Essay Competition blogger.com Details
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