Archive | Business Studies

The important traits for success in business are honesty, straight forwardness, fair dealings and moral character.

The exchange of goods or services for cash or credit is termed as trade. The values of the industries are given additional utilities through trade because it helps in the transfer of goods from the producer to the consumer.

The activities which are undertaken to produce, convert, extract and fabricate raw materials into finished goods are termed as industries.

A great deal of difficulties are experienced in the course of exchange of goods and services. The activities which help in overcoming those difficulties or hindrances are called aids-to-trade or “auxiliaries to trade”

Business is regarded as a game of skill with a great deal of chance thrown in. As in the game, every player cannot succeed, so in the business, every man should not hope to succeed.

Entrepreneur is the person who takes the initiative of establishing a business enterprise. He is also designated as the captain of the industry, business organizer, and the business manager.

The establishment where the business activities are undertaken is called business enterprise. The business enterprise may be owned by an individual or by more that one individuals.

Business may be defined as an enterprise engaged in the production and distribution of goods for sale in the market or rendering service at a price.

Business has a wide field and has to face the complicated needs of the society. It starts with production of goods at one ends with providing goods to the ultimate consumer.