Business

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Nature of Business

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Business

  1. 1. NATURE OF BUSINESS "BUSINESS IS AN EXCITING GAME.PLAY IT RIGHT."
  2. 2. Economic activities <ul><li>Meaning: Economic activities refer to those human activities which are undertaken with the object of satisfying material or economic needs. </li></ul><ul><li>Types: Business </li></ul><ul><li>Profession </li></ul><ul><li>Employment. </li></ul>
  3. 3. Business <ul><li>Meaning: Business refers to economic activities concerned with the protection and sale of goods and services for the purpose of earning profit. </li></ul>
  4. 4. Profession <ul><li>Meaning: Profession is an economic activity concerned with the rendering of technical, specialized and expert personal services to clients in return for a reward or payment called fees. </li></ul>
  5. 5. EMPLOYMENT <ul><li>Meaning: Employment means working for another person, under a contract of employment, for a reward or payment called salary or wages. </li></ul>
  6. 6. NATURE OF BUSINESS. <ul><li>Basic characteristics: </li></ul><ul><li>Economic activity </li></ul><ul><li>Sale, transfer or exchange for value </li></ul><ul><li>Dealing in goods or services </li></ul><ul><li>Recurrence of dealing or transaction </li></ul><ul><li>Profit motive </li></ul><ul><li>Element of risk </li></ul><ul><li>Capital investment </li></ul><ul><li>Entrepreneurship </li></ul>
  7. 7. SCOPE OF BUSINESS. <ul><li>Business </li></ul><ul><li>Industry Commerce </li></ul><ul><li>Primary Secondary Trade Aids </li></ul><ul><li>Extractive Manufacturing </li></ul><ul><li>Genetic Construction Home Foreign </li></ul><ul><li>Wholesale Retail </li></ul><ul><li>Import Export </li></ul><ul><li>Enterport </li></ul>
  8. 8. industry <ul><li>Meaning: Industry refers to manufacturing activity concerned with the conversion of raw materials or semi finished goods into finished goods. </li></ul>
  9. 9. <ul><li>Types of industry: </li></ul><ul><li>Primary industry: Industries which are concerned with the production of goods. </li></ul><ul><li>Extractive industries: Activities which are concerned with the extraction or production of wealth from soil, water, air or beneath the surface of the earth. </li></ul><ul><li>Genetic industries: Activities which are undertaken for reproducing or multiplying plants or animals with the object of earning profit from their sale. </li></ul>
  10. 10. <ul><li>Secondary industries: Industries where human labour plays a more important role than nature. </li></ul><ul><li>Manufacturing industries: Activities concerned with the creation of form utility. </li></ul><ul><li>Construction industries: Activities concerned with the creation of infrastructure for economic development. </li></ul>
  11. 11. commerce <ul><li>Meaning: Commerce is the sum total of all those processes which are engaged in the removal of hindrances of person, place and time in the exchange of commodities . </li></ul>
  12. 12. <ul><li>Trade: Trade refers to exchange of goods between producer and consumers. </li></ul><ul><li>Home trade: buying and selling of goods with in the country . </li></ul><ul><li>whole sale </li></ul><ul><li>retail </li></ul><ul><li>Foreign trade: trade between countries. </li></ul><ul><li>import </li></ul><ul><li>export </li></ul><ul><li>entrepot </li></ul>

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