it shows the difference between business , profession and employment. helpful for teaching the basics to the students of commerce

1. employment
Profession
business

2. Master of his own
business
Guided by
professional code
of conduct
Abide by the rules
of employer
Production,
sale and
exchange of
goods and
services
Specialized
services
Depends on
employer and
institute
involved

3. Not necessary to
have / no
prescribed
qualification
Prescribed
qualifications
Qualification
as per any
institute
requires
Ownership
can be
transferred
No
transferability
No
transferability

4. To earn profits
uncertain
situations
To render
service and
charge fees
for it
To earn fixed
and regular
salary
High .
Uncertain
factors are
more
No such risk.
If it is there
then its
negligible
no risk.

5. Business
standards and
laws
professional
guidelines as
per law
Terms of
employment
are the main
rules
Judged by
business
Judged by
feedback of
clients
Judged by
quality of
work and
feedback of
employee

6. Good amount of K
is required to
start a business
Limited K is
required as
compared to
business
No K is required
Advertisement
is required
Promotion is
done but not
advertisement
No
advertisement
is not required