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Unit 1 introduction to business organisation

Manish Kumar
Manish Kumar
Manish KumarAssistant Professor at IAMR Group of Institutions

Any organization that fulfills itself through making a product or service is business. This presentation slides is apt for BBA I Semester students from Chaudhary Charan SIngh University

Unit 1 introduction to business organisation

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Introduction to Business
Organisation
Manish Kumar
Manish.kumar@iamr.ac.in
Business
 “Any organisation that fulfils itself through making a
product or service is business.” P.F. Drucker
 “It is an institution organized and operated to provide
goods and services to society under the incentive of
private gain” B.O. Wheeler
Featuresof
Business
 Business is a social institutions
 Dealings in goods and services
 Sale, transfer or exchange
 Regularity in dealings
 Promoter/owner/entrepreneur
 Organisation and management
 Capital, investment and finance
 Risk taking
 Forecasting
 Surplus generation
 Generation of values and utilities
Essentialsof
successful
business
 Business plan
 Measuring goals
 Networking
 Team of dedicated employees
 Education and training
 Tools and equipment
Scopeof
Business
 The scope of business is very wide. It includes a large
number of activities which may be classified under two
broad categories , namely, Industry and Commerce.
Objectivesof
business
Organic
Human
National
Economic
Social

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